I don't usually post things from other blogs but decided to make an exception here.
Atticus fund is $3 billion. Any liquidation in the short term will have short term impact on investments. 29% of their assets are in financials. Could have helped added to the weakness in financials today.
Atticus Capital announced earlier that it would shut its $3 billion flagship fund and liquidate its holdings citing personal reasons on the part of the company's founder. Below we summarize the firms's most recent holdings by sector (as of 6/30) along with its top three holdings in each sector based on its 13-F filing.
Click on the link to see the largest holdings. Bank of America is the biggest with 11% of the fund. That would be a little over $300 million the market will have to swallow. With a 137 billion market cap it would seem the market could swallow it without to much trouble.
Thanks goes to Travis.