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Barakett sold most of fund’s U.S. stocks as markets declined

Tehran Times – Atticus Capital LP sold 23 of the 25 U.S.-listed stocks it owned in the first quarter as the New York-based hedge-fund firm run by Timothy Barakett put more money into cash while equity markets fell.

Atticus sold 1.69 million shares of Potash Corp. of Saskatchewan, according to a filing with the U.S. Securities and Exchange Commission. Saskatoon, Saskatchewan-based Potash, the world’s largest producer of its namesake fertilizer, had been the firm’s top U.S. holding.

Barakett, whose firm oversees about $6 billion in assets, also sold all of his 5.31 million shares of Microsoft Corp. The world’s largest software maker, based in Redmond, Washington, had been the firm’s second-largest U.S. position.

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