John Burbank is Bullish on NextEra Energy, Still Loves Cytec Industries
Passport Capital, managed by John Burbank, has released an update on the status of their equity portfolio. According to their latest 13F filing, Burbank has high hopes for energy stocks with NextEra Energy, Inc. (NYSE:NEE) being the fund's top dog. Passport currently owns 2.8 million shares with a reported value of $226 million. The second biggest holding of the fund is Cytec Industries Inc (NYSE:CYT) with a registered value of $172 million.
Burbank has also been looking for opportunities abroad, as Baidu.com, Inc. (NASDAQ:BIDU) is the third biggest position, with 968K shares valued at $150 million. This top 5 is closed out by McGraw Hill Financial Inc (NYSE:MHFI) and DIRECTV(NASDAQ:DTV).