Hedge Funds Lansdowne, Passport Profit as Glencore Plunges
- Two funds have short positions in London commodities firm
- Glencore stock fell 29%, extending decline to 78% in 5 months
Glencore Takes Brunt of Global Commodities Rout
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Glencore Plc’s plunge on Monday has been good for two investors. Hedge funds Lansdowne Partners and Passport Capital had bet shares of the miner and commodity trader would fall.
London-based Lansdowne has the largest short position on Glencore, whose shares slid 29 percent Monday, followed by Passport, data compiled by Bloomberg show.