13F-HR 1 form13fhr.txt REPORT FOR THE QUARTER ENDED JUNE 30, 2009 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: June 30, 2009 Check here if amendment [ ]; Amendment Number: This Amendment (check only one): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name Passport Management, LLC Address 30 Hotaling Place, Ste. 300 San Francisco, CA 94111 Form 13F File Number: 028-10809 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing this report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name Joanne Cormican Title CFO Phone 415-321-4618 Signature, Place, and Date of Signing: /s/ Joanne Cormican San Francisco, CA 08/13/2009 ------------------- ------------------ ---------- [Signature] [City, State] [Date] Report Type (Check only one.): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 88 Form 13F Information Table Value Total: 1,880,216 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. NONE FORM 13F INFORMATION TABLE

COL 1 COL 2 COL 3 COL 4 COL 5 COL 6 COL 7 COL 8 US $ SHARES ~~INVEST-~~ VALUE OR SH/ PUT/ ~~MENT~~INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- ABBOTT LABORATORIES COM 002824100 10109 214900 SH SOLE 214900 0 0 ACTIVISION BLIZZARD INC COM 00507V109 ~~1883~~4534 ~~180000~~359000 SH SOLE ~~180000~~359000 0 0 AKAGRIUM ~~STL~~INC ~~HLDG~~COM ~~CORP~~008916108 ~~CALL~~810 ~~001547908~~20300 ~~3560~~SH ~~500000~~SOLE SH20300 ~~CALL~~0 0 AK STEEL HOLDING COM 001547108 28785 1500000 SH SOLE ~~500000~~1500000 0 0 ~~APOLLO~~AMGEN ~~GROUP~~INC COM 031162100 10202 192700 SH SOLE 192700 0 0 APPLE INC PUT ~~037604955~~037833950 ~~39165~~284860 ~~500000~~2000000 SH PUT SOLE ~~500000~~2000000 0 0 ~~BAIDU~~ARCHER-DANIELS-MIDLAND ~~INC~~COMPANY ~~ADR~~COM 039483102 1608 60072 SH SOLE 60072 0 0 ARLINGTON ASSET INVESTMENT (FO COM ~~056752108~~041356106 ~~2905~~6421 ~~16450~~16898209 SH SOLE ~~16450~~16898209 0 0 BANK OF AMERICA CORPORATION PUT 060505954 29568 2240000 SH PUT SOLE 2240000 0 0 BECTON DICKINSON & CO COM 075887109 ~~6724~~15474 ~~100000~~217000 SH SOLE ~~100000~~217000 0 0 BED BATH & BEYOND INC PUT 075896950 ~~18915~~15375 500000 SH PUT SOLE 500000 0 0 ~~BERKSHIRE~~BROAD ~~HATHAWAY~~COM ~~INC-CL~~CORP BPUT ~~COM~~111320957 ~~084670207~~24790 201000000 7SH PUT SOLE 1000000 0 0 CALPINE CORP PUT 131347954 5575 500000 SH PUT SOLE 7500000 0 0 ~~BIOMARIN~~CEC ~~PHARMACEUTICAL~~ENTERTAINMENT INC COM ~~09061G101~~125137109 ~~10290~~528 ~~833234~~17900 SH SOLE ~~833234~~17900 0 0 ~~BROADCOM~~CELGENE CORP CALL ~~111320907~~151020904 ~~9990~~23920 500000 SH CALL SOLE 500000 0 0 ~~CISCO~~CEPHALON ~~SYS~~ INC ~~CALL~~COM ~~17275R902~~156708109 ~~8385~~15862 ~~500000~~280000 SH ~~CALL~~ SOLE ~~500000~~280000 0 0 CISCO SYSTEMS INC COM 17275R102 ~~1996~~7087 ~~119000~~380000 SH SOLE ~~119000~~380000 0 0 CITRIX SYSTEMS INC COM 177376100 ~~1630~~1626 ~~72000~~51000 SH SOLE ~~72000~~51000 0 0 ~~COMPANHIA~~CKE ~~VALE~~RESTAURANTS DOINC ~~RIO~~COM ~~DOCE~~12561E105 ~~CALL~~480 ~~204412909~~56600 ~~6558~~SH ~~500000~~SOLE 56600 0 0 COACH INC PUT 189754954 26880 1000000 SH ~~CALL~~PUT SOLE ~~500000~~1000000 0 0 ~~CVB~~COMMSCOPE ~~FINANCIAL~~INC ~~CORP~~PUT 203372957 26260 1000000 SH PUT SOLE 1000000 0 0 COSAN LTD-CLASS A SHARES COM ~~126600105~~G25343107 ~~265~~311 ~~40000~~60000 SH SOLE ~~40000~~60000 0 0 ~~DOW~~DIREXION ~~CHEM~~DAILY COFINL ~~CALL~~BEAR ~~260543903~~3X ~~4215~~ETF ~~500000~~25459W607 SH699 ~~CALL~~150000 SH SOLE ~~500000~~150000 0 0 DOW ~~CHEMICAL~~CHEM ~~COM~~CO ~~260543103~~PUT ~~2584~~260543953 ~~306581~~4035 250000 SH PUT SOLE ~~306581~~250000 0 0 ~~EXCO~~DOW ~~RESOURCES~~CHEMICAL ~~INC~~ COM ~~269279402~~260543103 ~~1400~~936 ~~140000~~58000 SH SOLE ~~140000~~58000 0 0 ~~FIRST~~ENDO ~~SOLAR~~PHARMACEUT HLDGS INC COM ~~336433107~~29264F205 ~~14464~~4122 ~~109000~~230000 SH SOLE ~~109000~~230000 0 0 ~~FRIEDMAN~~EQUIFAX ~~BILLINGS~~INC ~~RAMSEY GROUP~~ COM ~~358434108~~294429105 ~~3457~~8222 ~~17283541~~315000 SH SOLE ~~17283541~~315000 0 0 ~~GENERAL~~FIRST ~~ELECTRIC~~SOLAR COINC ~~PUT~~COM ~~369604953~~336433107 ~~5055~~11678 ~~500000~~72000 SH ~~PUT~~ SOLE ~~500000~~72000 0 0 ~~GENZYME~~FORESTAR ~~CORP~~GROUP INC COM ~~372917104~~346233109 ~~21083~~341 ~~355000~~28700 SH SOLE ~~355000~~28700 0 0 ~~GILEAD~~FPL ~~SCIENCES~~GROUP INC COM ~~375558103~~302571104 ~~25939~~284 ~~560000~~5000 SH SOLE ~~560000~~5000 0 0 ~~GOLD~~GENZYME ~~FIELDS~~CORP ~~LTD~~ COM ~~38059T106~~372917104 ~~1134~~26443 ~~100000~~475000 SH SOLE ~~100000~~475000 0 0 ~~GOOGLE~~GILEAD SCIENCES INC ~~PUT~~COM ~~38259P958~~375558103 ~~34806~~27120 ~~100000~~579000 SH ~~PUT~~ SOLE ~~100000~~579000 0 0 GOOGLE INC - CL A COM 38259P508 ~~4090~~5586 ~~11750~~13250 SH SOLE ~~11750~~13250 0 0 HARLEY DAVIDSON INC PUT 412822958 ~~26780~~16210 ~~2000000~~1000000 SH PUT SOLE ~~2000000~~1000000 0 0 IMPERIAL SUGAR CO COM 453096208 ~~1249~~2768 ~~173696~~228558 SH SOLE ~~173696~~228558 0 0 ~~INFINERA~~ISHARES ~~CORP~~TR ~~COM~~DJ ~~45667G103~~US ~~12765~~REAL ~~1725000~~EST PUT 464287959 7943 245000 SH PUT SOLE ~~1725000~~245000 0 0 ISHARES TR ~~RUSSELL~~MSCI ~~2000~~EMERG MKT PUT ~~464287655~~464287954 ~~42050~~102491 ~~1000000~~3180000 SH PUT SOLE ~~1000000~~3180000 0 0 ~~JDS~~ISHARES ~~UNIPHASE~~TR ~~CORP~~MSCI ~~COM~~RUSSELL ~~46612J507~~2000 ~~30527~~PUT ~~9392837~~464287655 183247 3600000 SH PUT SOLE ~~9392837~~3600000 0 0 ~~LIFE~~KROGER ~~TECHNOLOGIES~~CO ~~CORP~~ COM ~~53217V109~~501044101 ~~6496~~2205 ~~200000~~100000 SH SOLE ~~200000~~100000 0 0 ~~LIMELIGHT~~LANDEC ~~NETWORKS~~CORP ~~INC~~ COM ~~53261M104~~514766104 ~~1185~~1222 ~~353600~~180000 SH SOLE ~~353600~~180000 0 0 ~~LOGITECH~~LENDER ~~INTERNATIONAL-REG~~PROCESSING SERVICES COM ~~H50430232~~52602E102 ~~8018~~23604 ~~780000~~850000 SH SOLE ~~780000~~850000 0 0 ~~MARKET~~MICROSOFT ~~VECTORS~~CORP ~~AGRIBUSINESS~~ COM ~~57060U605~~594918104 ~~283~~4564 ~~10000~~192000 SH SOLE ~~10000~~192000 0 0 ~~MEMC~~MOMENTA ~~ELECTR~~PHARMACEUTICALS ~~MATLS~~ INC ~~CALL~~COM ~~552715904~~60877T100 ~~8245~~301 ~~500000~~25000 SH ~~CALL~~ SOLE ~~500000~~25000 0 0 ~~METABOLIX~~MOSAIC ~~INC~~CO COM ~~591018809~~61945A107 7157236 ~~10400~~1292000 SH SOLE ~~10400~~1292000 0 0 ~~MOMENTA~~NABORS ~~PHARMACEUTICALS~~INDUSTRIES ~~INC~~LTD ~~COM~~PUT ~~60877T100~~G6359F953 ~~330~~31269 ~~30000~~2007000 SH PUT SOLE ~~30000~~2007000 0 0 ~~MORGAN~~OIL ~~STANLEY~~SVC ~~CALL~~HOLDRS ~~617446908~~TR ~~11349~~PUT ~~500000~~678002956 187566 1925000 SH ~~CALL~~PUT SOLE ~~500000~~1925000 0 0 ~~MOSAIC~~ONYX COPHARMACEUTICALS INC COM ~~61945A107~~683399109 ~~105353~~7503 ~~2509600~~265500 SH SOLE ~~2509600~~265500 0 0 ~~OIL~~ORACLE ~~SVC~~CORP ~~HOLDRS~~COM TR68389X105 ~~CALL~~3213 ~~678002906~~150000 ~~3700 50000~~ SH ~~CALL~~ SOLE ~~50000~~150000 0 0 ~~OMEGA~~PENNY ~~PROTEIN~~JC ~~CORP~~INC ~~COM~~PUT ~~68210P107~~708160956 ~~173~~14247 ~~65400~~500000 SH PUT SOLE ~~65400~~500000 0 0 PERFECT WORLD CO LTD-ADR COM 71372U104 ~~1405~~9650 ~~100000~~337400 SH SOLE ~~100000~~337400 0 0 PETROHAWK ENERGY CORP COM 716495106 ~~1596~~4081 ~~83000~~183000 SH SOLE ~~83000~~183000 0 0 ~~PETROLEO~~POTASH ~~BRASILEIRO~~CORP SACOM ~~PETRO~~73755L107 ~~CALL~~47763 ~~71654V901~~513300 ~~30215 1000000~~ SH ~~CALL~~ SOLE ~~1000000~~513300 0 0 ~~PHARMASSET~~POWERSHARES ~~INC~~DB ~~COM~~OIL ~~71715N106~~2X ~~490~~SHORT ~~50000~~ETF 25154K809 1304 17500 SH SOLE ~~50000~~17500 0 0 ~~POTASH~~PRICELINE.COM ~~CORP~~INC COM ~~73755L107~~741503403 ~~53284~~4551 ~~659380~~40800 SH SOLE ~~659380~~40800 0 0 ~~PRICELINE.COM~~PRIDE ~~INC~~INTERNATIONAL COM ~~741503403~~74153Q102 ~~2151~~3634 ~~27300~~145000 SH SOLE ~~27300~~145000 0 0 PRIDE INTERNATIONAL ~~COM~~PUT ~~74153Q102~~74153Q952 ~~3057~~15788 ~~170000~~630000 SH PUT SOLE ~~170000~~630000 0 0 PROSHARES TRULTRASHORT IIFINANCIAL ~~ULTRASHRT~~ETF 74347R628 1400 33500 SH SOLE 33500 0 0 PROSHARES ULTRASHORT GOLD ETF 74347W700 ~~1604~~1514 99200 SH SOLE 99200 0 0 ~~PROSHARES~~QUALCOMM TRINC ~~PSHS~~COM ~~REAL~~747525103 ~~ESTAT~~4122 ~~ETF~~91200 ~~74347R552~~SH ~~650~~SOLE ~~12300~~91200 0 0 QUALCOMM INC PUT 747525953 45200 1000000 SH PUT SOLE ~~12300~~1000000 0 0 ~~PROSHARES~~RADIOSHACK TRCORP ~~PSHS~~PUT ~~ULSHRUS2000~~750438953 ~~ETF~~13960 ~~74347R834~~1000000 ~~951 13500~~ SH PUT SOLE ~~13500~~1000000 0 0 ~~PROSHARES~~RED TRROBIN ~~PSHS~~GOURMET ~~ULSHT~~BURGERS ~~MD400~~COM ~~ETF~~75689M101 ~~74347R859~~172 ~~742~~9200 ~~12600~~ SH SOLE ~~12600~~9200 0 0 ~~PROSHARES~~SADIA TRSA-ADR ~~PSHS~~COM ~~ULTSHT~~786326108 ~~FINL~~844 ~~ETF~~115000 ~~74347R628~~SH ~~2483~~SOLE ~~25300~~115000 0 0 SAFEWAY INC COM 786514208 782 38400 SH SOLE ~~25300~~38400 0 0 ~~PROSHRE~~SANOFI ~~ULT~~AVENTIS ~~DJ-AIG~~CALL ~~CRUDE~~80105N905 ~~OIL~~2433 ~~ETF~~82500 ~~74347W502~~SH ~~2215~~CALL ~~263100~~SOLE 82500 0 0 SHIP FINANCE INTL COM G81075106 1379 125000 SH SOLE ~~263100~~125000 0 0 ~~QUALCOMM~~SPDR ~~INC~~GOLD TRUST COM ~~747525103~~78463V107 ~~4486~~2371 ~~115300~~26000 SH SOLE ~~115300~~26000 0 0 ~~QUIDEL~~SPDR ~~CORP~~GOLD ~~COM~~TRUST ~~74838J101~~CALL ~~900~~78463V907 ~~97600~~118534 1300000 SH CALL SOLE ~~97600~~1300000 0 0 ~~SADIA~~SPDR ~~SA-ADR~~TR ~~COM~~UNIT ~~786326108~~SERIES ~~1358~~1 ~~329500~~PUT 78462F953 82755 900000 SH PUT SOLE ~~329500~~900000 0 0 ~~SEABOARD~~STAR SCIENTIFIC INC CALL 85517P901 140 157400 SH CALL SOLE 157400 0 0 SUNPOWER CORP-CLASS B COM ~~811543107~~867652307 ~~732~~814 ~~725~~34000 SH SOLE ~~725~~34000 0 0 ~~SEQUENOM~~TEEKAY ~~INC~~CORP COM ~~817337405~~Y8564W103 ~~6612~~1472 ~~465000~~70000 SH SOLE ~~465000~~70000 0 0 ~~SLM~~TEREX CORP COM ~~78442P106~~880779103 5602 ~~500~~49900 SH SOLE ~~500~~49900 0 0 ~~SPDR~~Teva ~~GOLD~~Pharmaceutical ~~TRUST~~ADR COM ~~78463V107~~881624209 ~~61544~~19588 ~~681700~~397000 SH SOLE ~~681700~~397000 0 0 ~~STAR~~TRANSOCEAN ~~SCIENTIFIC~~LTD. ~~INC~~COM ~~CALL~~H8817H100 ~~85517P901~~14858 ~~374~~200000 ~~87400~~ SH ~~CALL~~ SOLE ~~87400~~200000 0 0 ~~STAR~~ULTRASHORT ~~SCIENTIFIC~~MIDCAP400 ~~INC~~PROSHAR ~~COM~~ETF ~~85517P101~~74347R859 ~~3317~~2185 ~~775000~~57700 SH SOLE ~~775000~~57700 0 0 ~~STEEL~~ULTRASHORT ~~DYNAMICS~~MSCI ~~INC~~EMERGING ~~CALL~~MKT ~~858119900~~ETF ~~4405~~74347R354 ~~500000~~812 38600 SH ~~CALL~~ SOLE ~~500000~~38600 0 0 ~~SUNPOWER~~ULTRASHORT ~~CORP-CLASS~~REAL BESTATE ~~COM~~PROSH ~~867652307~~ETF ~~2039~~74347R552 ~~103000~~242 12300 SH SOLE ~~103000~~12300 0 0 ~~TEREX~~ULTRASHORT ~~CORP~~RUSSELL ~~COM~~2000 ~~880779103~~PROSHA ~~11654~~ETF ~~1259900~~74347R834 2266 53300 SH SOLE ~~1259900~~53300 0 0 ~~Teva~~ULTRASHORT ~~Pharmaceutical~~S&P500 ~~ADR~~PROSHARES ~~COM~~ETF ~~881624209~~74347R883 ~~13064~~1715 ~~290000~~31000 SH SOLE ~~290000~~31000 0 0 ~~THERMO~~ULTRASHORT ~~FISHER~~SMALLCAP ~~SCIENTIFIC~~600 ~~INC~~PROSHA ~~COM~~ETF ~~883556102~~74347R792 ~~6421~~1055 ~~180000~~23500 SH SOLE ~~180000~~23500 0 0 ~~TRANSOCEAN~~UNITED ~~LTD.~~STATES STL CORP COM ~~H8817H100~~912909108 ~~11768~~26805 ~~200000~~750000 SH SOLE ~~200000~~750000 0 0 ~~TYCO~~UNITED ~~INTL~~STATES ~~LTD~~STL ~~BERMUDA~~CORP CALL ~~G9143X908~~912909908 ~~19386~~35700 1000000 SH CALL SOLE 1000000 0 0 ~~UNITED~~WELLS ~~STATES~~FARGO ~~OIL~~& ~~FUND~~CO LPPUT ~~CALL~~949746951 ~~91232N908~~116713 ~~18882~~4820000 ~~650000~~ SH ~~CALL~~PUT SOLE ~~650000~~4820000 0 0 ~~WEATHERFORD~~WEYERHAEUSER ~~INTERNATIONAL~~CO LTCOM ~~CALL~~962166104 ~~G95089901~~341 ~~15498~~11200 ~~1400000~~SH SOLE 11200 0 0 WHOLE FOODS MKT INC PUT 966837956 5732 302000 SH ~~CALL~~PUT SOLE ~~1400000~~302000 0 0 WRIGHT MEDICAL GROUP INC COM 98235T107 4065 250000 SH SOLE 250000 0 0 ZIP REALTY COM 98974V107 ~~7357~~6752 2519550 SH SOLE 2519550 0 0

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