Guru John Burbank
is averaging a 12-month return of 24.26%. As of the third quarter, his firm, Passport Capital, has a portfolio of 139 stocks, 63 of them new, a total value at $3.09 billion, with a quarter-over-quarter turnover of 21%. The portfolio is weighted with top three sectors: ETF, options and preferred at 26.5%; technology at 16.7%; and consumer cyclical at 13.7%.
Here are four high-impact sells made by John Burbank
in the third quarter of 2013, starting with his major reduction of Kinder Morgan Inc., North America’s largest midstream company with around 82,000 miles of oil and gas pipeline. The company reported a third quarter 2013 total net income of $551 million, up from $255 million in the third quarter of 2012. Diluted earnings of per common share for Class P shares were $0.27 for the reporting quarter, down from $0.36 in the same quarter a year ago. Continue Reading »