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Hedge fund offloads entire GSE portfolio

Passport Capital aimed to cut risk

Dollar in the sand
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Passport Capital told investors it wanted to cut some risk from the hedge fund.

Therefore, the hedge fund sold off all of its Fannie Mae, Freddie Mac and Ginnie Mae holdings in the second quarter.

According to a letter to investors, obtained by Bloomberg, the decision turned a profit for the firm.

Source: Bloomberg
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