Paulson comeback continues, with a surprise winner

John Paulson
David Grogan | CNBC

Hedge fund heavyweight John Paulson's funds generally performed well in August, beating the 3.3 percent loss by the in all strategies—and continuing his comeback from dismal performances in 2011 and 2012.

Among the firm's winners was the Paulson Advantage fund, which was up 1.9 percent for the month and 10 percent for the year, according to a letter sent to investors obtained by CNBC. The Paulson Advantage Plus fund also rose 2.8 percent in August and has gained 14.4 percent for the year.

Gold was at the center of the outperformance.

The funds benefited from "strong gains in the gold mining, energy and healthcare portfolios," according to the letter.