Touradji Capital goes for Gold

November 30th, 2009
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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.
For Detailed Investor Profiles on these Investors, click below:
Touradji Capital Management
Tiger Management
Related People: Alex Robertson; Gil Caffray; John Townsend; Julian Robertson; Paul Touradji; Sang Lee
Related Entities: Tiger Asia; Tiger Consumer; Tiger Global; Tiger Management LLC; Tiger Shark Management; Tiger Veda; Catequil Asset Management*; Tiger Fund *; Tiger Jaguar Fund*; Tiger Management; Tiger Management Corp; Tiger Management LP; Tiger Puma*; Touradji Capital; Touradji DeepRock Master; Touradji Global Resources Fund
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Top Hedge Fund Portfolio Reports

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