Passport Capital Closes Its Materials Hedge Fund
By Qineqt:Passport Capital LLC, a hedge fund worth $3.4 billion, recently announced that it plans to close its materials fund after it incurred a loss of 31% this year. As this fund has moved out of this sector, we think that there are signs of market capitulation and a possible bottoming in the materials sector. If that turns out to be true, the sector should bounce off the lows and offers a good entry point for investors. However, for a risk-averse investor, we recommend four safe stocks. Other stocks can then be added to your positions once the uncertainties surrounding the global economy disappear. Let us now analyze the major holdings of Passport Capital and how they differ from our recommendations.
Passport Capital's Major Holdings
The following table shows the hedge fund's major holdings, as according to its latest 13-F filing (of March), in the materials sector:
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