PASSPORT CAPITAL LLC

Item 8 may involve frequent trading which can lower investment performance, particularly due to increased brokerage and other transaction costs and taxes.

There can be no assurance that the strategies, Clients or the risk management system employed by Passport will meet their objectives. Investing in securities involves a substantial and/or total risk of loss that investors should be prepared to bear.




MATERIAL RISKS.

Each prospective Investor should, prior to investing, thoroughly review the risk factors described in the offering document or IMA, as applicable, of the relevant Client, which provides an extensive, but non-exhaustive, list of applicable risk factors.

Investments in the Funds or Managed Accounts involve a high degree of risk. A Fund’s or Managed Account’s portfolio may be subject to wide swings in value. Investing in securities involves a risk of loss that clients should be prepared to bear. Passport, as the Adv...
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