13F-HR 1 form13fhr.txt REPORT FOR THE PERIOD ENDED DECEMBER 31, 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: December 31, 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 Cormicn Title Chief Financial Officer Phone 415-321-4618 Signature, Place, and Date of Signing: /s/ Joanne Cormican San Francisco, CA February 12, 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: 91 Form 13F Information Table Value Total: 2,223,660 (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 VALUE OR SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- ~~ACTIVISION~~AK ~~BLIZZARD~~STEEL ~~INC~~HOLDING COM ~~00507V109~~001547108 ~~4448~~28624 ~~359000~~1340700 SH SOLE ~~359000~~1340700 0 0 ~~AEROPOSTALE~~AMERICAN DAIRY INC COM ~~007865108~~025334103 ~~3260~~1604 ~~75000~~74000 SH SOLE ~~75000~~74000 0 0 ~~AMAG~~ANDERSONS ~~PHARMACEUTICALS~~ INC/THE COM ~~00163U106~~034164103 ~~7281~~2840 ~~166700~~110000 SH SOLE ~~166700~~110000 0 0 ~~AMERICAN~~A-POWER ~~DAIRY~~ENERGY ~~INC~~GENERATION COM ~~025334103~~G04136100 ~~9831~~48 ~~347000~~2650 SH SOLE ~~347000~~2650 0 0 APPLE COMPUTER INC COM 037833100 ~~2595~~5795 ~~14000~~27500 SH SOLE ~~14000~~27500 0 0 ARCHER-DANIELS-MIDLAND COMPANY COM 039483102 ~~4117~~2875 ~~140900~~91826 SH SOLE ~~140900~~91826 0 0 ~~BEAZER~~ARM ~~HOMES~~HOLDINGS ~~USA~~PLC-SPONS ~~INC~~ADR COM ~~07556Q105~~042068106 ~~3634~~2160 ~~650000~~252350 SH SOLE ~~650000~~252350 0 0 ~~BRF~~BARRICK -GOLD ~~BRASIL~~COM ~~FOODS~~067901108 SA41231 -1047000 ~~ADR~~SH SOLE 1047000 0 0 BARRICK GOLD CORP CALL CALL 067901908 19690 500000 SH CALL SOLE 500000 0 0 BOSTON SCIENTIFIC COM ~~10552T107~~101137107 ~~2628~~12600 ~~49355~~1400000 SH SOLE ~~49355~~1400000 0 0 ~~CEPHALON~~CF INDS HLDGS INC ~~COM~~CALL ~~156708109~~CALL ~~22248~~125269900 ~~382000~~182468 2010000 SH CALL SOLE ~~382000~~2010000 0 0 ~~CISCO~~CF ~~SYSTEMS~~INDUSTRIES HOLDINGS INC COM ~~17275R102~~125269100 ~~7580~~6255 ~~322000~~68900 SH SOLE ~~322000~~68900 0 0 ~~CKE~~CISCO ~~RESTAURANTS~~SYSTEMS INC COM ~~12561E105~~17275R102 ~~1662~~3931 ~~158400~~164200 SH SOLE ~~158400~~164200 0 0 COSAN LTD-CLASS A SHARES COM G25343107 ~~3252~~6234 ~~411700~~716600 SH SOLE ~~411700~~716600 0 0 ~~COVIDIEN~~CVS ~~PLC~~CAREMARK CORP COM ~~G2554F105~~126650100 ~~22409~~25671 ~~518000~~797000 SH SOLE ~~518000~~797000 0 0 DIREXION ~~DAILY~~DLY ~~FINL~~SM CAP BEAR 3X ETF ~~25459W490~~25459W839 ~~312~~12325 ~~15000~~1250000 SH SOLE ~~15000~~1250000 0 0 DISCOVER FINL SVCS PUT PUT 254709958 ~~16230~~17652 ~~1000000~~1200000 SH PUT SOLE ~~1000000~~1200000 0 0 DOLE FOOD CO INC COM 256603101 3015 242986 SH SOLE 242986 0 0 DOLLAR TREE INC COM 256746108 6168 127700 SH SOLE 127700 0 0 DOW CHEMICAL COM 260543103 ~~32501~~2590 ~~1246700~~93750 SH SOLE ~~1246700~~93750 0 0 DR PEPPER SNAPPLE GROUP INC COM 26138E109 ~~88470~~101880 ~~3077200~~3600000 SH SOLE ~~3077200~~3600000 0 0 ~~E*TRADE~~DR ~~FINANCIAL~~PEPPER ~~CORP~~SNAPPLE ~~COM~~GROUP ~~269246104~~INC ~~3675~~CA ~~2100000~~CALL 26138E909 56600 2000000 SH CALL SOLE ~~2100000~~2000000 0 0 ~~ECLIPSYS~~E*TRADE FINANCIAL CORP COM ~~278856109~~269246104 ~~6272~~8360 ~~325000~~4750000 SH SOLE ~~325000~~4750000 0 0 ~~E-HOUSE~~ECLIPSYS ~~CHINA~~CORP ~~HOLDINGS-ADS~~ COM ~~26852W103~~278856109 ~~1709~~5899 ~~80000~~318500 SH SOLE ~~80000~~318500 0 0 ~~ENERNOC~~ENSCO INTL INC COM ~~292764107~~26874Q100 7011063 ~~2100~~277000 SH SOLE ~~2100~~277000 0 0 EXPRESS SCRIPTS INC COM 302182100 ~~14197~~15815 183000 SH SOLE 183000 0 0 FIRST SOLAR INC COM 336433107 ~~268~~66 ~~1750~~490 SH SOLE ~~1750~~490 0 0 FMC CORP COM 302491303 ~~1979~~2810 ~~35190~~50390 SH SOLE ~~35190~~50390 0 0 FPL GROUP INC COM 302571104 ~~276~~264 5000 SH SOLE 5000 0 0 ~~GILEAD~~FUEL ~~SCIENCES~~SYSTEMS SOLUTIONS INC COM ~~375558103~~35952W103 ~~9528~~33 ~~204900~~800 SH SOLE ~~204900~~800 0 0 ~~GOLAR LNG ENERGY LTD COM G9456A100 14041 6750000 SH SOLE 6750000 0 0~~ GOOGLE INC - CL A COM 38259P508 ~~6570~~6200 ~~13250~~10000 SH SOLE ~~13250~~10000 0 0 ~~HOVNANIAN~~ILLUMINA ~~ENTERPRISES-A~~INC COM ~~442487203~~452327109 ~~2880~~16107 ~~750000~~525000 SH SOLE ~~750000~~525000 0 0 ~~IMPAX~~IMPERIAL ~~LABORATORIES~~SUGAR ~~INC~~CO COM ~~45256B101~~453096208 ~~2063~~11685 ~~236000~~670000 SH SOLE ~~236000~~670000 0 0 ~~IMPERIAL~~ISHARES ~~SUGAR~~TR COINDEX ~~COM~~MSCI ~~453096208~~EMERG ~~4184~~MK ~~329996~~PUT 464287234 272032 6555000 SH PUT SOLE ~~329996~~6555000 0 0 ISHARES TR INDEX PUT PUT ~~464287954~~464287955 ~~131127~~320005 ~~3370000~~5125000 SH PUT SOLE ~~3370000~~5125000 0 0 ~~ISHARES~~JANUS TRCAP ~~INDEX~~GROUP INC PUT PUT ~~464287955~~47102X955 ~~67770~~16140 ~~1125000~~1200000 SH PUT SOLE ~~1125000~~1200000 0 0 ~~JANUS~~KNIGHT ~~CAP~~CAPITAL GROUP INC ~~PUT~~CALL ~~PUT~~CALL ~~47102X955~~499005906 ~~8508~~6160 ~~600000~~400000 SH ~~PUT~~CALL SOLE ~~600000~~400000 0 0 ~~KROGER~~KNIGHT COCAPITAL GROUP INC-A COM ~~501044101~~499005106 ~~2182~~10603 ~~105700~~688490 SH SOLE ~~105700~~688490 0 0 ~~LANDEC~~KROGER ~~CORP~~CO COM ~~514766104~~501044101 ~~1143~~708 ~~178588~~34500 SH SOLE ~~178588~~34500 0 0 ~~LAS~~LABRANCHE ~~VEGAS~~& ~~SANDS~~CO ~~CORP~~INC ~~CALL~~COM ~~CALL~~505447102 ~~517834907~~70 ~~16840~~24818 ~~1000000~~ SH ~~CALL~~ SOLE ~~1000000~~24818 0 0 LENDER PROCESSING SERVICES COM 52602E102 ~~38170~~11051 ~~1000000~~271794 SH SOLE ~~1000000~~271794 0 0 MBIA INC CALL CALL 55262C900 ~~11640~~5970 1500000 SH CALL SOLE 1500000 0 0 MCKESSON CORP COM 58155Q103 ~~32687~~32512 ~~548900~~520200 SH SOLE ~~548900~~520200 0 0 ~~MICROSOFT~~MEAD ~~CORP~~JOHNSON NUTRITION CO COM ~~594918104~~582839106 ~~4470~~12953 ~~173800~~296400 SH SOLE ~~173800~~296400 0 0 ~~MOMENTA~~MEDTRONIC ~~PHARMACEUTICALS~~ INC COM ~~60877T100~~585055106 ~~4329~~6245 ~~408000~~142000 SH SOLE ~~408000~~142000 0 0 MICROSOFT CORP COM 594918104 5297 173800 SH SOLE 173800 0 0 MORGAN STANLEY COM 617446448 ~~7720~~7400 250000 SH SOLE 250000 0 0 ~~MYR~~MOSAIC ~~GROUP~~CO ~~INC/DELAWARE~~CALL ~~COM~~CALL ~~55405W104~~61945A907 635073 ~~3000~~85000 SH CALL SOLE ~~3000~~85000 0 0 ~~MYRIAD~~MYR ~~GENETICS~~GROUP INC/DELAWARE COM ~~62855J104~~55405W104 ~~10073~~2148 ~~367500~~118850 SH SOLE ~~367500~~118850 0 0 ~~ONYX~~NATIONAL ~~PHARMACEUTICALS~~OILWELL VARCO INC COM ~~683399109~~637071101 ~~10873~~4629 ~~362800~~105000 SH SOLE ~~362800~~105000 0 0 ~~ONYX~~NEWS ~~PHARMACEUTICALS~~CORP-CL ~~INC~~A ~~CALL~~COM ~~CALL~~65248E104 ~~683399909~~13690 ~~29970~~ 1000000 SH ~~CALL~~ SOLE 1000000 0 0 ~~PALM~~NUVASIVE INC ~~NEW~~COM ~~CALL~~670704105 ~~CALL~~6396 ~~696643905~~200000 ~~8730 500000~~ SH ~~CALL~~ SOLE ~~500000~~200000 0 0 ~~PERFECT~~OMEGA ~~WORLD~~PROTEIN COCORP ~~LTD-ADR~~ COM ~~71372U104~~68210P107 ~~4097~~602 ~~85179~~138000 SH SOLE ~~85179~~138000 0 0 ~~PETROHAWK~~OMNIVISION ~~ENERGY~~TECHNOLOGIES ~~CORP~~INC COM ~~716495106~~682128103 ~~3728~~4211 ~~154000~~290000 SH SOLE ~~154000~~290000 0 0 ~~PFIZER~~ONYX PHARMACEUTICALS INC ~~COM~~CALL ~~717081103~~CALL ~~16881~~683399909 ~~1020000~~58680 2000000 SH CALL SOLE ~~1020000~~2000000 0 0 ~~PNC~~PALM ~~FINL SVCS GROUP~~ INC ~~PUT~~COM ~~PUT~~696643105 ~~693475955~~351 ~~29090~~35000 ~~600000~~ SH ~~PUT~~ SOLE ~~600000~~35000 0 0 ~~POWERSHARES~~PALM DBINC ~~OIL~~NEW 2XCALL ~~SHORT~~CALL ~~ETF~~696643905 ~~25154K809~~0 ~~1426~~2000000 ~~17500~~ SH CALL SOLE ~~17500~~2000000 0 0 ~~PRIDE~~PERFECT ~~INTERNATIONAL~~WORLD CO LTD-ADR COM ~~74153Q102~~71372U104 ~~2463~~35992 ~~80900~~912575 SH SOLE ~~80900~~912575 0 0 PROSHARES ULTRASHORT FINANCIAL ETF 74347R628 ~~634~~307 ~~25300~~12650 SH SOLE ~~25300~~12650 0 0 PROSHARES ULTRASHORT GOLD ETF 74347W700 ~~1066~~912 ~~84200~~88100 SH SOLE ~~84200~~88100 0 0 PROSHARES ULTRASHORT MIDCAP 40 ETF 74347R859 ~~1358~~829 ~~53400~~37500 SH SOLE ~~53400~~37500 0 0 PROSHARES ULTRASHORT RUSSELL 2 ETF 74347R834 ~~1417~~854 ~~49400~~33900 SH SOLE ~~49400~~33900 0 0 PROSHARES ULTRASHORT S&P500 ETF 74347R883 ~~372~~957 ~~28000~~27300 SH SOLE ~~28000~~27300 0 0 PROSHARES ULTRASHORT SMALLCAP6 ETF 74347R792 ~~717~~309 ~~23500~~11750 SH SOLE ~~23500~~11750 0 0 PROSHRE U/S DJ-AIG CRUDE OIL ETF 74347W809 13923 1020000 SH SOLE 1020000 0 0 QUALCOMM INC COM 747525103 ~~4102~~5607 ~~91200~~121200 SH SOLE ~~91200~~121200 0 0 ~~SANDERSON~~ROWAN ~~FARMS~~COMPANIES INC. COM ~~800013104~~779382100 ~~2856~~9056 ~~75883~~400000 SH SOLE ~~75883~~400000 0 0 SEAHAWK DRILLING INC COM 81201R107 ~~168~~122 5393 SH SOLE 5393 0 0 ~~SELECT SECTOR~~ SPDR TR PUT PUT ~~81369Y950~~78462F953 ~~316770~~351036 ~~3000000~~3150000 SH PUT SOLE ~~3000000~~3150000 0 0 ~~SHIP~~SELECT ~~FINANCE~~SECTOR ~~INTL~~SPDR ~~COM~~TR ~~G81075106~~PUT ~~1536~~PUT ~~125000~~81369Y959 SH21600 ~~SOLE~~1500000 ~~125000 0 0 SMITHFIELD FOODS INC COM 832248108 276 20000~~ SH PUT SOLE ~~20000~~1500000 0 0 SPDR GOLD TRUST COM 78463V107 ~~2570~~644 ~~26000~~6000 SH SOLE ~~26000~~6000 0 0 ~~STARENT~~SUNCOR ~~NETWORKS~~ENERGY ~~CORP~~INC COM ~~85528P108~~867224107 ~~4804~~4599 ~~189000~~130000 SH SOLE ~~189000~~130000 0 0 ~~STRYKER~~SUNPOWER CORP-CLASS B COM ~~863667101~~867652307 ~~5679~~63 ~~125000~~3000 SH SOLE ~~125000~~3000 0 0 ~~SUNCOR~~TENARIS ~~ENERGY~~S.A. ~~INC~~ COM ~~867224107~~88031M109 ~~4897~~1706 ~~140000~~40000 SH SOLE ~~140000~~40000 0 0 ~~SUNPOWER~~TEREX CORP~~-CLASS~~ B COM ~~867652307~~880779103 ~~858~~989 ~~34000~~49900 SH SOLE ~~34000~~49900 0 0 ~~TEEKAY~~TEREX CORP ~~COM~~NEW ~~Y8564W103~~CALL ~~755~~CALL ~~34500~~880779903 19810 1000000 SH CALL SOLE ~~34500~~1000000 0 0 ~~TEREX~~TESORO CORP ~~COM~~PUT ~~880779103~~PUT ~~1034~~881609951 ~~49900~~10840 800000 SH PUT SOLE ~~49900~~800000 0 0 TEVA PHARMACEUTICAL ADR COM 881624209 ~~23430~~25427 ~~463400~~452600 SH SOLE ~~463400~~452600 0 0 TRANSOCEAN LTD. COM H8817H100 ~~11940~~12898 ~~139600~~155773 SH SOLE ~~139600~~155773 0 0 ~~TYSON~~TRINA ~~FOODS~~SOLAR ~~INC~~LTD-CLSPON AADR COM ~~902494103~~89628E104 ~~4107~~2601 ~~325200~~48200 SH SOLE ~~325200~~48200 0 0 ~~ULTRASHORT~~TYSON ~~MSCI~~FOODS ~~EMERGING~~INC-CL ~~MKT~~A ~~ETF~~COM ~~74347R354~~902494103 ~~522~~1785 ~~38600~~145500 SH SOLE ~~38600~~145500 0 0 ULTRASHORT REAL ESTATE PROSH ETF 74347R552 ~~119~~21726 ~~12300~~2896800 SH SOLE ~~12300~~2896800 0 0 UNITED STATES STEEL CORP COM 912909108 ~~26400~~58659 ~~595000~~1064200 SH SOLE ~~595000~~1064200 0 0 ~~WEATHERFORD~~UNITED ~~INTL~~STATES ~~LTD~~STL ~~COM~~CORP ~~H27013103~~NEW ~~1822~~CAL ~~87900~~CALL 912909908 128286 2330000 SH CALL SOLE ~~87900~~2330000 0 0 ~~WELLS~~UNITEDHEALTH ~~FARGO~~GROUP &INC COCOM ~~NEW~~91324P102 ~~PUT~~18593 ~~PUT~~610000 ~~949746951~~SH ~~28180~~SOLE ~~1000000~~610000 SH0 ~~PUT~~0 VEECO INSTRUMENTS INC COM 922417100 4047 122500 SH SOLE ~~1000000~~122500 0 0 WENDY'S/ARBY'S GROUP INC-A COM 950587105 ~~49438~~25795 ~~10452000~~5500000 SH SOLE ~~10452000~~5500000 0 0 ~~WRIGHT~~YINGLI ~~MEDICAL~~GREEN ~~GROUP~~ENERGY ~~INC~~HOLD-ADR COM ~~98235T107~~98584B103 ~~9278~~971 ~~519500~~61400 SH SOLE ~~519500~~61400 0 0 ZIMMER HOLDINGS INC COM 98956P102 ~~10909~~5911 ~~204100~~100000 SH SOLE ~~204100~~100000 0 0 ZIONS BANCORPORATION PUT PUT 989701957 3847 300000 SH PUT SOLE 300000 0 0 ZIP REALTY COM 98974V107 ~~10582~~9474 2519550 SH SOLE 2519550 0 0

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