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Hedge Fund Blue Ridge Capital Buys BP, NFLX, GS, RRC, ESRX Sells MCD, GOOG, AAPL

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gurufocus

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John Griffin of Blue Ridge Capital reported his third quarter portfolio. This are the details.

John Griffin learned his investing strategy from legendary hedge fund manager Julian Robertson. His fund lost only about 8% in 2008. Similar to his mentor Mr. Robertson, Blue Ridge runs a long-short portfolio. For the long positions the firm focuses on the companies that can produce a superior return over a three to five-year time period. For short positions it focuses the stocks that will underperform, or “not make it”, over a one to two year period. The likely reason their shorts work: the underlying companies fail in a poor economic environment. The portfolio is generally net long. The shorts help the portfolio because they can go to zero in a poor market, whereas the longs may go down a lot, but they will come back based on the strength of the underlying businesses.

Because he owns both long and short positions, Mr. Griffin has the luxury of being somewhat indffierent to the macro environment, which he claims that he had “no idea what is going on", and he is not concerned.

Blue Ridge Capital. As of 09/30/2010, Blue Ridge Capital owns 54 stocks with a total value of $6.5 billion. These are the details of the buys and sells.

For the details of John Griffin's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=John+Griffin

This is the sector weightings of his portfolio:

Financials 23.4%
Consumer Services 19.5%
Technology 17.6%
Health Care 10.6%
Oil & Gas 8.8%
Industrials 4.9%
Consumer Goods 1.6%
Basic Materials 1%
Telecommunications 0.1%


These are the top 5 holdings of John Griffin

  1. JPMorgan Chase & Co. (JPM) - 11,000,000 shares, 6.48% of the total portfolio.
  2. Apple Inc. (AAPL) - 1,225,100 shares, 5.38% of the total portfolio. Shares reduced by 35.42%
  3. Amazon.com Inc. (AMZN) - 2,123,000 shares, 5.16% of the total portfolio.
  4. MARKET VECTORS - GOLD MINERS ETF (GDX) - 5,478,000 shares, 4.74% of the total portfolio. Shares added by 6.41%
  5. Citrix Systems Inc. (CTXS) - 4,360,000 shares, 4.61% of the total portfolio. Shares added by 14.29%


Added: Goldman Sachs Group Inc. The (GS)

John Griffin added to his holdings in Goldman Sachs Group Inc. The by 122.86%. His purchase prices were between $131.08 and $156.41, with an estimated average price of $146.49. The impact to his portfolio due to this purchase was 0.96%. His holdings were 780,000 shares as of 09/30/2010.

Goldman Sachs is a global investment banking and securities firm, providing a full range of investing, advisory and financing services worldwide to a substantial and diversified client base, which includes corporations, financial institutions, governments, and high net worth individuals. Goldman Sachs Group Inc. The has a market cap of $85.13 billion; its shares were traded at around $165.1 with a P/E ratio of 8.5 and P/S ratio of 1.7. The dividend yield of Goldman Sachs Group Inc. The stocks is 0.8%. Goldman Sachs Group Inc. The had an annual average earning growth of 12.7% over the past 10 years.

Added: Range Resources Corp. (RRC)

John Griffin added to his holdings in Range Resources Corp. by 49.17%. His purchase prices were between $32.8 and $42.67, with an estimated average price of $37.31. The impact to his portfolio due to this purchase was 0.96%. His holdings were 4,930,000 shares as of 09/30/2010.

Range Resources Corp. acquires, develops, and finances oil and gas properties in the U. Range Resources Corp. has a market cap of $6.53 billion; its shares were traded at around $40.8 with a P/E ratio of 57.5 and P/S ratio of 7.2. The dividend yield of Range Resources Corp. stocks is 0.4%. Range Resources Corp. had an annual average earning growth of 14.2% over the past 10 years.

Added: Express Scripts Inc. (ESRX)

John Griffin added to his holdings in Express Scripts Inc. by 36.39%. His purchase prices were between $42.12 and $49.6, with an estimated average price of $45.84. The impact to his portfolio due to this purchase was 0.78%. His holdings were 3,879,000 shares as of 09/30/2010.

Express Scripts, Inc. is one of the largest pharmacy benefit management companies in North America. Express Scripts Inc. has a market cap of $27.51 billion; its shares were traded at around $50.72 with a P/E ratio of 22.2 and P/S ratio of 1.1. Express Scripts Inc. had an annual average earning growth of 28.8% over the past 10 years. GuruFocus rated Express Scripts Inc. the business predictability rank of 4.5-star.

Added: Citrix Systems Inc. (CTXS)

John Griffin added to his holdings in Citrix Systems Inc. by 14.29%. His purchase prices were between $42.11 and $71.06, with an estimated average price of $56.97. The impact to his portfolio due to this purchase was 0.58%. His holdings were 4,360,000 shares as of 09/30/2010.

Citrix Systems, Inc. is one of the suppliers of application delivery and management software and services that enable the effective and efficient enterprise-wide deployment and management of applications. Citrix Systems Inc. has a market cap of $11.64 billion; its shares were traded at around $62.26 with a P/E ratio of 37.3 and P/S ratio of 7.2. Citrix Systems Inc. had an annual average earning growth of 4.2% over the past 10 years.

Added: Credicorp Ltd. (BAP)

John Griffin added to his holdings in Credicorp Ltd. by 34.44%. His purchase prices were between $91.34 and $117.3, with an estimated average price of $103.57. The impact to his portfolio due to this purchase was 0.55%. His holdings were 1,210,000 shares as of 09/30/2010.

CreditCorp LTD is a limited liability company to act as a holding company, to coordinate the policy and administration of its subsidiaries and engage in investing activities. Credicorp Ltd. has a market cap of $9.33 billion; its shares were traded at around $117.01 with a P/E ratio of 16.5 and P/S ratio of 3.9. The dividend yield of Credicorp Ltd. stocks is 1.4%. Credicorp Ltd. had an annual average earning growth of 33.8% over the past 5 years.

Added: Pfizer Inc (PFE)

John Griffin added to his holdings in Pfizer Inc by 18.33%. His purchase prices were between $14.14 and $17.425, with an estimated average price of $15.94. The impact to his portfolio due to this purchase was 0.29%. His holdings were 7,100,000 shares as of 09/30/2010.

Pfizer Inc is a research-based, global pharmaceutical company that discovers and develops innovative, value-added products that improve the quality of life of people around the world and help them enjoy longer, healthier, and more productive lives. Pfizer Inc has a market cap of $133.44 billion; its shares were traded at around $16.6 with a P/E ratio of 7.3 and P/S ratio of 2.7. The dividend yield of Pfizer Inc stocks is 4.3%. Pfizer Inc had an annual average earning growth of 1.8% over the past 10 years.

Added: Market Vectors - Gold Miners Etf (GDX)

John Griffin added to his holdings in Market Vectors - Gold Miners Etf by 6.41%. His purchase prices were between $47.09 and $56.66, with an estimated average price of $51.51. The impact to his portfolio due to this purchase was 0.29%. His holdings were 5,478,000 shares as of 09/30/2010.

Market Vectors - Gold Miners Etf has a market cap of $692.5 million; its shares were traded at around $57.66 . The dividend yield of Market Vectors - Gold Miners Etf stocks is 4.4%.

Added: Microsoft Corp. (MSFT)

John Griffin added to his holdings in Microsoft Corp. by 11.17%. His purchase prices were between $23.27 and $26.33, with an estimated average price of $24.82. The impact to his portfolio due to this purchase was 0.25%. His holdings were 6,470,000 shares as of 09/30/2010.

Microsoft develops, manufactures, licenses, and supports a wide range of software products for a multitude of computing devices. Microsoft Corp. has a market cap of $223.35 billion; its shares were traded at around $25.81 with a P/E ratio of 11.1 and P/S ratio of 3.5. The dividend yield of Microsoft Corp. stocks is 2%. Microsoft Corp. had an annual average earning growth of 12.6% over the past 10 years. GuruFocus rated Microsoft Corp. the business predictability rank of 3-star.

Added: NVR Inc (NVR)

John Griffin added to his holdings in Nvr Inc by 18.66%. His purchase prices were between $604.16 and $677.38, with an estimated average price of $632.99. The impact to his portfolio due to this purchase was 0.17%. His holdings were 104,300 shares as of 09/30/2010.

NVR Inc. is a holding company that operates in two business segments; the construction and marketing of homes and in financial services. Nvr Inc has a market cap of $3.62 billion; its shares were traded at around $617.98 with a P/E ratio of 18.7 and P/S ratio of 1.4. Nvr Inc had an annual average earning growth of 2.8% over the past 10 years.

Added: Mgic Investment Corp. (MTG)

John Griffin added to his holdings in Mgic Investment Corp. by 10%. His purchase prices were between $7.06 and $9.27, with an estimated average price of $8.17. The impact to his portfolio due to this purchase was 0.13%. His holdings were 9,900,600 shares as of 09/30/2010.

MGIC Investment Corporation is a holding company which, through its wholly owned subsidiary, Mortgage Guaranty Insurance Corporation, is the provider of private mortgage insurance coverage in the United States to the home mortgage lending industry. Mgic Investment Corp. has a market cap of $1.65 billion; its shares were traded at around $8.24 with and P/S ratio of 1.

Added: Teva Pharmaceutical Industries Ltd. (TEVA)

John Griffin added to his holdings in Teva Pharmaceutical Industries Ltd. by 3.93%. His purchase prices were between $47.17 and $55.73, with an estimated average price of $52.1. The impact to his portfolio due to this purchase was 0.11%. His holdings were 3,440,000 shares as of 09/30/2010.

TEVA Pharmaceuticals USA, the business is to develop, manufacture, and market generic pharmaceuticals. Teva Pharmaceutical Industries Ltd. has a market cap of $47.07 billion; its shares were traded at around $50.34 with a P/E ratio of 11.9 and P/S ratio of 3.4. The dividend yield of Teva Pharmaceutical Industries Ltd. stocks is 1.4%. Teva Pharmaceutical Industries Ltd. had an annual average earning growth of 22.6% over the past 10 years. GuruFocus rated Teva Pharmaceutical Industries Ltd. the business predictability rank of 4-star.

New Purchase: BP P.l.c. (BP)

John Griffin initiated holdings in Bp P.l.c.. His purchase prices were between $29.35 and $41.33, with an estimated average price of $37.3. The impact to his portfolio due to this purchase was 3.2%. His holdings were 5,020,000 shares as of 09/30/2010.

BP p.l.c. is the holding company of one of the world's largest petroleum and petrochemicals groups. Bp P.l.c. has a market cap of $130.83 billion; its shares were traded at around $41.78 with a P/E ratio of 5.8 and P/S ratio of 0.6. Bp P.l.c. had an annual average earning growth of 20.3% over the past 10 years. GuruFocus rated Bp P.l.c. the business predictability rank of 3-star.

New Purchase: Valeant Pharmaceuticals International (VRX)

John Griffin initiated holdings in Valeant Pharmaceuticals International. His purchase prices were between $25.39 and $65.7, with an estimated average price of $57.1. The impact to his portfolio due to this purchase was 2.81%. His holdings were 7,251,038 shares as of 09/30/2010.

Valeant Pharmaceuticals International, Inc. is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of neurology, dermatology and branded generics. Valeant Pharmaceuticals International has a market cap of $3.9 billion; its shares were traded at around $24.61 with a P/E ratio of 21.2 and P/S ratio of 4.7. The dividend yield of Valeant Pharmaceuticals International stocks is 1.5%. Valeant Pharmaceuticals International had an annual average earning growth of 13.7% over the past 5 years.

New Purchase: Netflix Inc. (NFLX)

John Griffin initiated holdings in Netflix Inc.. His purchase prices were between $98.02 and $170.63, with an estimated average price of $127.89. The impact to his portfolio due to this purchase was 1.26%. His holdings were 500,000 shares as of 09/30/2010.

Netflix Inc. is the largest online movie rental subscription service in the United States providing subscribers access to a comprehensive library of more than 18,000 movie, television and other filmed entertainment titles. Netflix Inc. has a market cap of $8.66 billion; its shares were traded at around $165.4 with a P/E ratio of 62.4 and P/S ratio of 5.2. Netflix Inc. had an annual average earning growth of 106.7% over the past 5 years.

New Purchase: Ivanhoe Mines Ltd (IVN)

John Griffin initiated holdings in Ivanhoe Mines Ltd. His purchase prices were between $13.06 and $24.45, with an estimated average price of $18. The impact to his portfolio due to this purchase was 0.96%. His holdings were 2,641,100 shares as of 09/30/2010.

Ivanhoe Mines is a producer of copper, gold and iron ore products. Ivanhoe Mines Ltd has a market cap of $11.5 billion; its shares were traded at around $23.52 with and P/S ratio of 319.4.

New Purchase: Lululemon Athletica Inc. (LULU)

John Griffin initiated holdings in Lululemon Athletica Inc.. His purchase prices were between $31.9 and $45.83, with an estimated average price of $39.36. The impact to his portfolio due to this purchase was 0.57%. His holdings were 830,000 shares as of 09/30/2010.

LULULEMON ATHLETICA is a yoga inspired athletic apparel company that creates components for people to live longer, healthier and more fun lives. Lululemon Athletica Inc. has a market cap of $2.44 billion; its shares were traded at around $47.08 with a P/E ratio of 40.2 and P/S ratio of 5.3.

New Purchase: Tesla Motors Inc. (TSLA)

John Griffin initiated holdings in Tesla Motors Inc.. His purchase prices were between $15.8 and $21.98, with an estimated average price of $19.89. The impact to his portfolio due to this purchase was 0.18%. His holdings were 575,000 shares as of 09/30/2010.

Tesla Motors, Inc. designs, manufactures, and sells electric vehicles and electric vehicle powertrain components. Tesla Motors Inc. has a market cap of $2.77 billion; its shares were traded at around $29.67 .

New Purchase: Level 3 Communications Inc. (LVLT)

John Griffin initiated holdings in Level 3 Communications Inc.. His purchase prices were between $0.93 and $1.2, with an estimated average price of $1.07. The impact to his portfolio due to this purchase was 0.11%. His holdings were 7,785,000 shares as of 09/30/2010.

Level 3 Communications is an international communications and information services company. Level 3 Communications Inc. has a market cap of $1.85 billion; its shares were traded at around $1.11 with and P/S ratio of 0.5.

New Purchase: Ivanhoe Energy Inc. (IVAN)

John Griffin initiated holdings in Ivanhoe Energy Inc.. His purchase prices were between $1.5 and $2.06, with an estimated average price of $1.79. The impact to his portfolio due to this purchase was 0.06%. His holdings were 1,732,037 shares as of 09/30/2010.

Ivanhoe Energy is an independent international oil and gas exploration and development company building long-term growth in its reserve base and production. Ivanhoe Energy Inc. has a market cap of $748.2 million; its shares were traded at around $2.24 with and P/S ratio of 30.

Reduced: Apple Inc. (AAPL)

John Griffin reduced to his holdings in Apple Inc. by 35.42%. His sale prices were between $239.93 and $292.32, with an estimated average price of $259.7. The impact to his portfolio due to this sale was -2.95%. John Griffin still held 1,225,100 shares as of 09/30/2010.

Apple Computer, Inc. designs, manufactures and markets personal computers and related personal computing and communicating solutions for sale primarily to education, creative, consumer, and business customers. Apple Inc. has a market cap of $275.52 billion; its shares were traded at around $301.59 with a P/E ratio of 19.9 and P/S ratio of 4.2. Apple Inc. had an annual average earning growth of 59.8% over the past 5 years.

Reduced: The Western Union Company (WU)

John Griffin reduced to his holdings in The Western Union Company by 46.03%. His sale prices were between $14.9 and $17.65, with an estimated average price of $16.28. The impact to his portfolio due to this sale was -1.54%. John Griffin still held 6,625,000 shares as of 09/30/2010.

The Western Union Company is a provider of global money-transfer services. The Western Union Company has a market cap of $11.63 billion; its shares were traded at around $17.62 with a P/E ratio of 13.1 and P/S ratio of 2.2. The dividend yield of The Western Union Company stocks is 1.3%. The Western Union Company had an annual average earning growth of 3.2% over the past 5 years.

Reduced: Cme Group Inc Cl A (CME)

John Griffin reduced to his holdings in Cme Group Inc Cl A by 25.15%. His sale prices were between $237.69 and $286.56, with an estimated average price of $265.8. The impact to his portfolio due to this sale was -0.67%. John Griffin still held 491,000 shares as of 09/30/2010.

Chicago Mercantile Exchange Holdings is the parent company of Chicago Mercantile Exchange Inc, the largest futures exchange in the United States based on notional value, trading volume and open interest. Cme Group Inc Cl A has a market cap of $19.27 billion; its shares were traded at around $286.65 with a P/E ratio of 19 and P/S ratio of 7.3. The dividend yield of Cme Group Inc Cl A stocks is 1.6%. Cme Group Inc Cl A had an annual average earning growth of 14.6% over the past 5 years.

Sold Out: Mcdonald's Corp. (MCD)

John Griffin sold out his holdings in Mcdonald's Corp.. His sale prices were between $66.11 and $76.08, with an estimated average price of $72.3.

McDonald's Corporation develops, operates, franchises and services a worldwide system of restaurants that prepare, assemble, package and sell a limited menu of value-priced foods. Mcdonald's Corp. has a market cap of $82.4 billion; its shares were traded at around $77.42 with a P/E ratio of 17.2 and P/S ratio of 3.6. The dividend yield of Mcdonald's Corp. stocks is 2.9%. Mcdonald's Corp. had an annual average earning growth of 14.7% over the past 10 years. GuruFocus rated Mcdonald's Corp. the business predictability rank of 2.5-star.

Sold Out: Google Inc. (GOOG)

John Griffin sold out his holdings in Google Inc.. His sale prices were between $436.07 and $530.41, with an estimated average price of $482.21.

Google is a public and profitable company focused on search services. Google Inc. has a market cap of $186.04 billion; its shares were traded at around $583.72 with a P/E ratio of 23.7 and P/S ratio of 7.8. Google Inc. had an annual average earning growth of 65.7% over the past 10 years.

Sold Out: Morgan Stanley (MS)

John Griffin sold out his holdings in Morgan Stanley. His sale prices were between $22.83 and $27.87, with an estimated average price of $25.93.

MORGAN STANLEY is a preeminent global financial services firm that maintains market positions in each of its three primary businesses: securities; asset management; and credit services. Morgan Stanley has a market cap of $35.8 billion; its shares were traded at around $25.63 with a P/E ratio of 14 and P/S ratio of 1.6. The dividend yield of Morgan Stanley stocks is 0.8%. Morgan Stanley had an annual average earning growth of 6.4% over the past 10 years.

Sold Out: Teradata Corp (TDC)

John Griffin sold out his holdings in Teradata Corp. His sale prices were between $29.62 and $38.96, with an estimated average price of $32.92.

Teradata Corporation is the world's largest company focused on raising intelligence through data warehousing and enterprise analytics. Teradata Corp has a market cap of $6.51 billion; its shares were traded at around $38.92 with a P/E ratio of 22.2 and P/S ratio of 3.8.

Sold Out: Ensco International Inc. (ESV)

John Griffin sold out his holdings in Ensco International Inc.. His sale prices were between $40.2 and $46.64, with an estimated average price of $42.93.

Ensco International plc, formerly ENSCO International Incorporated, is a provider of offshore contract drilling services to the international oil and gas industry. Ensco International Inc. has a market cap of $6.86 billion; its shares were traded at around $47.96 with a P/E ratio of 11.8 and P/S ratio of 3.5. The dividend yield of Ensco International Inc. stocks is 1.6%. Ensco International Inc. had an annual average earning growth of 23.9% over the past 10 years. GuruFocus rated Ensco International Inc. the business predictability rank of 3.5-star.

Sold Out: Monsanto Company (MON)

John Griffin sold out his holdings in Monsanto Company. His sale prices were between $45.12 and $61.28, with an estimated average price of $55.63.

Monsanto is a global provider of technology-based solutions and agricultural products for growers and downstream customers, such as grain processors and consumers, in the agricultural markets. Monsanto Company has a market cap of $31.82 billion; its shares were traded at around $59.33 with a P/E ratio of 24.7 and P/S ratio of 3. The dividend yield of Monsanto Company stocks is 1.8%. Monsanto Company had an annual average earning growth of 19.2% over the past 10 years.

Sold Out: Primerica Inc. (PRI)

John Griffin sold out his holdings in Primerica Inc.. His sale prices were between $20.25 and $23.44, with an estimated average price of $21.48.

Primerica, Inc. provides financial products and services. Primerica Inc. has a market cap of $1.6 billion; its shares were traded at around $21.96 . The dividend yield of Primerica Inc. stocks is 0.2%.

About the author:

gurufocus
GuruFocus - Stock Picks and Market Insight of Gurus

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