Paul Touradji has moved over 80% of the equity portion of his commodities focused hedge fund’s portfolio into gold, according to Touradji Capital’s third quarter 2009 SEC filing. The firm opened a $84.67mm / 2,234,000 share position in Barrick Gold Corp (ABX) over the quarter, while dumping the $11.49mm / -126,000 share holding it had previously held in the streetTRACKS Gold Trust (GLD). Touradji Capital also sold out of its iShares Dow Jones U.S. Oil & Gas Exploration & Production Index Fund (IEO) position, selling $1.61mm / 39,200 shares.
As of 9/30/2009, the firm held 85% ($89mm) of its US equity portfolio in basic materials/gold stocks. The rest of its portfolio was allocated to the energy sector (12% or $13mm), Industrials (1% or $1mm) and Financials (<1% or $500,000). Touradji Capital’s top holdings include:
- Barrick Gold Corp (USA) (ABX): $84.7mm / 2,234,000 shares, 0.3% held, Change: $84.7mm / 2,234,000 shares
- Petrohawk Energy Corp (HK): $6.7mm / 275,000 shares, 0.1% held, Change: $1.8mm / 75,000 shares
- Massey Energy Co (MEE): $4.5mm / 160,000 shares, 0.2% held, Change: $4.5mm / 160,000 shares
- Sandridge Energy Inc (SD): $3.2mm / 250,000 shares, 0.1% held, Change: $0.0mm / shares
- Eog Resources Inc (EOG): $1.9mm / 22,651 shares, 0.0% held, Change: $1.9mm / 22,651 shares
Touradji's small exposure to the financials sector was all held in Citigroup (C):
$0.5mm / 110,000 shares, 0.0% held, Change: $0.5mm / 110,000 shares
Touradji also trimmed its exposure to drybulk carrier DryShips Inc (DRYS), possibly due to significant amounts of outstanding debt the company is looking to convert into equity.
- DryShips Inc (DRYS): $1.0mm / 158,000 shares, 0.1% held, Change: $-0.3mm / -50,000 shares
Touradji Capital Management was founded in 2005 by Paul Touradji. Before starting the firm, Mr. Touradji cofounded Catequil Asset Management and before that was a trader at Julian Robertson’s Tiger Management. For more information on the hedge funds and portfolio managers mentioned in this article, please see, HedgeTracker’s Complete Hedge Fund Directory. For more information on commodities focused hedge fund investors, pleases see the Sector Specific Hedge Fund section. |
