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Passport Capital Portfolio holdings

AUM $394M
1-Year Est. Return 50.67%
This Fund
S&P 500
This Quarter Est. Return
+22.08%
1 Year Est. Return
+50.67%
3 Year Est. Return
+40.2%
5 Year Est. Return
+88.96%
10 Year Est. Return
–
AUM
$2.94B
AUM Growth
-$156M
Cap. Flow
-$495M
Cap. Flow %
-16.87%
Top 10 Hldgs %
48.25%
Holding
209
New
69
Increased
29
Reduced
37
Closed
68

Top Buys

Rank Stock Value
1
GLPI icon
Gaming and Leisure Properties
GLPI
+$105M
2
SFUN
Fang Holdings Limited American Depositary Shares (each representing ten Class A Ordinary Shares)
SFUN
+$72M
3
CF icon
CF Industries
CF
+$68.8M
4
WUBA
58.com Inc
WUBA
+$51.9M
5
LNG icon
Cheniere Energy
LNG
+$46.7M

Top Sells

Rank Stock Value
1
BIDU icon
Baidu
BIDU
+$72.7M
2
PENN icon
PENN Entertainment
PENN
+$70.3M
3
IP icon
International Paper
IP
+$53.3M
4
HRI icon
Herc Holdings
HRI
+$52.8M
5
DTV
DIRECTV COM STK (DE)
DTV
+$46.8M

Sector Composition

Rank Sector Weight
1 Communication Services 12.22%
2 Materials 11.89%
3 Consumer Discretionary 11.86%
4 Energy 8.24%
5 Technology 5.94%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
OREX
201
DELISTED
Orexigen Therapeutics, Inc.
OREX
– –
-75,000
Closed -$4.6M
LNKD
202
DELISTED
LinkedIn Corporation
LNKD
– –
-85,718
Closed -$21.1M
MHR
203
DELISTED
MAGNUM HUNTER RESOURCES CORP (DEL)
MHR
– –
-100,000
Closed -$617K
TIVO
204
DELISTED
TIVO INC
TIVO
– –
-83,453
Closed -$1.04M
SPN
205
DELISTED
Superior Energy Services, Inc.
SPN
– –
-87,481
Closed -$21.9M
5 6 7 8
9

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Passport Capital's Q4 2013 Portfolio in Review

As of Q4 2013, Passport Capital held 209 positions worth $2.94B, down 5% from $3.09B the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Passport Capital withdrew a net $495M in Q4 2013, closing 68 positions and reducing 37 holdings. Its most notable exit was Baidu, an estimated $72.7M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 12% of assets, up from 11% a quarter earlier, followed by Materials and Consumer Discretionary.

Against the trend, Passport Capital opened a new position in Gaming and Leisure Properties worth $112M.

  • Passport Capital's largest Q4 2013 buy was Gaming and Leisure Properties: 2,213,948 shares worth $112M.
  • Passport Capital added most to Fang Holdings Limited American Depositary Shares (each representing ten Class A Ordinary Shares) in Q4 2013, an estimated $72M increase.
  • Passport Capital's biggest Q4 2013 reduction was International Paper, cutting an estimated $53.3M.
  • Passport Capital fully exited Baidu in Q4 2013, selling an estimated $72.7M.
  • Passport Capital's ten largest holdings make up 48% of its $2.94B portfolio in Q4 2013.
  • Passport Capital opened 69 new positions and closed 68 in Q4 2013.
  • Passport Capital's portfolio value fell 5% quarter-over-quarter to $2.94B.

Based on Passport Capital's 13F filing for Q4 2013, filed 13 Feb 2014.