S&P 400 mid-cap and S&P 600 small-cap stocks have outperformed S&P 500 large-cap stocks in the US since the March 2009 low. The S&P 500 large-cap stocks have outperformed the S&P 100 larger-cap stocks. The S&P 500 Dividend Aristocrats have out performed the S&P 500 index. The S&P 500 Equal Weight index has outperformed them all.

(This post is part of our series on tracking hedge fund portfolios. If you're unfamiliar with tracking investments they disclose via SEC filings, check out our series preface on hedge fund 13F filings.)

Next up is John Burbank's hedge fund firm Passport Capital. Burbank founded the San Francisco hedge fund in 2000 and his fund uses sector specific and macroeconomic analysis to select its investments. Once Passport has identified potential themes, it will drill down to find specific companies that can benefit.