High Quality
Open the downloaded document, and select print from the file menu (PDF reader required).
GLOBAL STRATEGY
June 2009
PORTFOLIO MANAGER:
John Burbank
STRATEGY AUM:
$1.4 Billion
SUBSCRIPTIONS:
Monthly
OPEN/CLOSED STATUS:
Open
STRATEGY INCEPTION DATE:
8/2000
FIRM AUM:
$2.3 Billion
REDEMPTIONS:
Quarterly
MINIMUM INVESTMENT:
$10 Million
30 Hotaling Place, Suite 300
San Francisco, CA 94111
Tel (415) 321-4600
Fax (415) 321-4620
www.passportcapital.com
Page 1 of 3
NET CUMULATIVE RETURN
-50%200%450%700%950%1200%1450%Aug-00Aug-01Aug-02Aug-03Aug-04Aug-05Aug-06Aug-07Aug-08Global StrategyMSCI AC WorldS&P 500
EXPOSURES* GROSS P&L*
MARKET CAP LONG SHORT NET GROSSLONG SHORT TOTALLarge (>5B) 23% -33% -10% 56% -1.3% -0.2% -1.5%Mid (1 - 5B) 22% -23% -1% 44% -0.5% 0.6% 0.1%Small (250M - 1B) 21% -4% 17% 24% -3.2% 0.4% -2.9%Micro (0 - 250M) 13% 0% 12% 13% -0.6% 0.0% -0.6%SPV 9% 0% 9% 9% -0.2% 0.0% -0.2%Other 0% 0% 0% 1% -1.1% 0.1% -1.0%
Total 88% -59% 28% 147% -6.9% 0.8% -6.1%
EXPOSURES* GROSS P&L*
REGION LONG SHORT NET GROSSLONG SHORT TOTALUS 37% -58% -21% 95% -2.4% 0.2% -2.1%India 13% 0% 13% 13% -0.8% 0.0% -0.8%Middle East & North Africa 10% 0% 10% 10% -0.8% 0.0% -0.8%Europe 8% -1% 7% 9% 0.0% -0.1% -0.1%Australia 9% 0% 9% 9% -1.6% -0.1% -1.7%Asia (ex-India) 6% 0% 6% 6% -0.4% 0.1% -0.2%Canada 3% 0% 3% 3% -1.0% 0.6% -0.4%South America 3% 0% 3% 3% 0.1% 0.0% 0.1%
Total 88% -59% 28% 147% -6.9% 0.8% -6.1%
EXPOSURES* GROSS P&L*
SECTOR LONG SHORT NET GROSSLONG SHORT TOTALBasic Materials 33% -8% 25% 41% -4.4% 0.6% -3.8%Financial 12% -11% 1% 24% -0.3% 0.4% 0.2%Consumer 5% -14% -8% 19% -0.8% -0.1% -0.9%Energy 7% -10% -3% 18% -0.3% 0.5% 0.2%India 13% 0% 13% 13% -0.8% 0.0% -0.8%Healthcare 11% 0% 11% 11% 0.3% 0.0% 0.3%Internet / Technology 4% -6% -3% 10% 0.2% -0.3% -0.1%Other 1% -8% -7% 10% 0.0% -0.4% -0.4%Industrial 0% -1% -1% 1% 0.1% 0.1% 0.2%F/X Forwards - - - - -0.1% -0.1% -0.1%Interest Rate - - - - -1.0% 0.0% -1.0%JPY Interest Rate - - - - 0.0% 0.1% 0.1%
Total 88% -59% 28% 147% -6.9% 0.8% -6.1%
GLOBALSTRATEGY*MSCI ACWORLDS&P 500
June 2009 (net) -6.4% -0.5% 0.2%Year To Date (net) 24.4% 9.4% 3.2%
NET ANNUALIZED RETURN
1 Year -41.2% -29.1% -26.2%3 Years 29.0% -6.6% -8.2%5 Years 27.0% 1.5% -2.2%Since Inception 26.2% -0.9% -3.1%
NET ANNUAL RETURN
2008 -50.9% -41.9% -37.0%2007 219.7% 12.4% 5.5%2006 13.5% 21.6% 15.8%2005 23.1% 11.4% 4.9%2004 12.0% 15.7% 10.9%2003 47.3% 34.6% 28.7%2002 22.1% -18.1% -22.1%2001 7.0% -17.3% -11.9%2000 36.0% -9.4% -7.3%
RISK STATISTICS
Standard Deviation 31.4% 17.3% 16.2%Sharpe Ratio 0.8 -0.2 -0.4Correlation - 0.4 0.2
KEY PORTFOLIO DATA*
NO. OF POSITIONSAVG. WEIGHTEDMKT. CAPLong Public 101 $12.6 BShort Public 124 $20.8 BSPV 12 -
CONCENTRATION*
0%10%20%30%40%50%60%Top 10 Public PositionsTop 20 Public Positions
LongShort
EXPOSURES JUL 08 AUG 08 SEP 08 OCT 08 NOV 08 DEC 08 JAN 09 FEB 09 MAR 09 APR 09 MAY 09 JUN 09* AVG* RANGE
Long 122% 117% 128% 74% 67% 66% 70% 82% 91% 99% 92% 88% 91% 66-128%Short -78% -103% -77% -31% -38% -25% -33% -30% -39% -48% -47% -59% -51% 25-103%Gross 200% 220% 205% 105% 104% 91% 103% 111% 131% 147% 139% 147% 142% 91-220%Net 44% 14% 51% 44% 29% 41% 36% 52% 52% 52% 44% 28% 41% 14-52%
PERFORMANCE JUL 08 AUG 08 SEP 08 OCT 08 NOV 08 DEC 08 JAN 09 FEB 09 MAR 09 APR 09 MAY 09 JUN 09* YTD* CUMUL. SINCE INC.%
Net -3.5% -8.5% -1.4% -38.1% -7.3% -5.4% 4.2% 3.1% -1.1% 0.7% 24.3% -6.4% 24.4% 699.1%
GLOBAL STRATEGY
June 2009
PORTFOLIO MANAGER:
John Burbank
STRATEGY AUM:
$1.4 Billion
SUBSCRIPTIONS:
Monthly
OPEN/CLOSED STATUS:
Open
STRATEGY INCEPTION DATE:
8/2000
FIRM AUM:
$2.3 Billion
REDEMPTIONS:
Quarterly
MINIMUM INVESTMENT:
$10 Million
30 Hotaling Place, Suite 300
San Francisco, CA 94111
Tel (415) 321-4600
Fax (415) 321-4620
www.passportcapital.com
Page 2 of 3
TOP 10 PUBLIC LONGS*
COMPANY TICKER SECTOR EXPOSURE GROSS P&LRiversdale Mining Ltd RIV AU Basic Materials 7% -1.6%Financial Technologies Ltd FTECH IS India 4% -0.5%Jordan Phosphate Mines JOPH JR Basic Materials 4% -0.5%Mosaic Co MOS US Basic Materials 3% -0.6%Potash Corp POT US Basic Materials 3% -0.7%EFG-Hermes Holding SAE HRHO EY Financial 3% -0.2%China Lotsynergy Ltd 8161 HK Consumer 3% -0.2%Shuaa Capital SHUAA UH Financial 3% -0.1%London Mining LOND NO Basic Materials 2% -0.1%AK Steel Holding Corp AKS US Basic Materials 2% 0.4%
TOP 10 SHORTS*
SECTOR EXPOSURE GROSS P&LBasic Materials -4% 0.1%Basic Materials -2% 0.2%Consumer -2% 0.0%Financial -2% 0.3%Consumer -2% 0.0%Consumer -1% 0.2%Financial -1% 0.0%Internet / Technology -1% 0.0%Financial -1% 0.0%Financial -1% 0.1%
Add a Comment