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Description:

The Tilson Focus Fund is a New York based mutual fund managed by value investor Whitney Tilson and Glenn Tongue. In 2006, it finished the year #1 in its Multicap Core category of 867 funds with a 25.7% return. Tilson and Tongue buy stocks they deem to be trading at least 30 percent below what they estimate the companies are worth.

From Bloomberg, December 2006:
"The fund has 37 percent of its assets split among McDonald's, Berkshire Hathaway and Microsoft. Only nine of the 2,530 equity funds tracked by Morningstar have such a large proportion of their money in so few stocks.

"It's not that we're gunslingers," said Tilson..."We reduce risks by concentrating our fund in the stocks we know the best and have the highest degree of conviction in."

Whitney Tilson is the founder and Managing Partner of T2 Partners LLC and the Tilson Mutual Funds. The former manages three value-oriented private investment partnerships, while the latter is comprised of two value-based mutual funds, Tilson Focus Fund and Tilson Dividend Fund. Mr. Tilson is also the co-founder, Chairman and co-Editor-in-Chief of Value Investor Insight, an investment newsletter; and is the co-founder and Chairman of the Value Investing Congress, an investment conference that takes place twice per year, in New York City in November and Los Angeles in May.

In Q4 2006 Tilson Mutual Funds sent out its latest Annual Report. In it one can find a good review of their investment philosophy, and an excellent breakdown of the funds' criteria for exiting a position.

Archive of Tilson’s articles at The Motley Food.



Current Returns:

1-Year: -13.20%

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