Passport Capital Closes Its Materials Hedge Fund

By Ganaxi Small Cap Movers:Stamford, Conn.-based leading multistrategy hedge fund SAC Capital, founded and led by legendary manager Steven Cohen, filed its latest 13-F for Q1 2012 indicating that it ended the quarter with $22.24 billion in 13-F assets, up from the $15.8 billion in 13-F assets in its prior Q4 filing.

Market Folly submits:John Burbank's hedge fund firm Passport Capital is out with its May performance update and first quarter investor letter. Per the documents, we see that Passport now manages $3 billion and its Global Strategy Fund was up 0.6% for May in a month where the market indices tumbled 8%. Overall, the hedge fund fared much better than other hedge funds who were down big.

By Ganaxi Small Cap Movers:New York-based AllianceBernstein has over $400 billion in assets under management, including over $92 billion in 13-F assets per its latest Q4 filing on Friday. The company is owned by French insurance conglomerate AXA, and provides investment management services worldwide to institutional, high-net-worth and retail individuals.

Market Folly submits:John Burbank's hedge fund firm Passport Capital provides a glimpse as to its overall portfolio positioning in the fund's third quarter letter. Passport's Global Fund has returned 23.1% annualized since inception in August of 2000. At the end of the third quarter, the fund was up 7.9% year to date and the firm manages over $5 billion. Passport's largest net long exposures were in basic materials and consumer.

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