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Dear Wynnefield Investors. . .

Investors in Wynnefield Capital (Oscar Tang, Michael Steinhardt, Chuck Royce, Stephen Schwarzman, Larry Leeds, Michael Kassen, Walter Stern, Edward McAree) are up 17 percent year-to-date. But an insider trading case brought by the SEC nearly four years ago is still hanging over the firm. The small-cap fund filed a motion for summary judgement in the case last November.

[Wynnefield Capital Q1 Letter to Investors]


Dear Perella Weinberg Xerion Investors . . .

Dear Perella Weinberg Xerion Investors. We were down 4.23 percent net in May, but thank God for our short on the Euro. Still, it was an "anomaly" period. Also included: Dan Arbess' presentation at the Ira Sohn investment conference.