Chart of the month: CCM shoots up


Coghill Capital Management's CCM Small Cap Value strategy benefited from the resurgence of the U.S. equity markets in May, returning a spectacular 23.91% for the month to bring the fund's total to -0.25% for the year. That noteworthy result far outpaced the Absolute Return U.S Equity Index, which gained 2.57%.

May's strong performance was due to several long positions. Energy Conservation Devices, a solar panel manufacturer and the strategy's second-largest holding, almost doubled in May after reporting quarterly results that far exceeded expectations.

CCM, founded by Clint Coghill in October 1999, employs bottom-up fundamental analysis to identify overvalued and