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Hedge Fund Blue Ridge Capital Reports Second Quarter Picks

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gurufocus

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John Griffin of hedge fund Blue Ridge Capital reported his Q2 portfolio. As of 06/30/2011, Blue Ridge Capital owns 57 stocks with a total value of $6.6 billion. These are the details of the buys and sells that have the impact to portfolio of more than 1%.

Blue Ridge Capital was founded by Mr. John Griffin, who was known as legendary investor Julian Robertson's right hand man. Mr. Griffin is adjunct professor of finance at Columbia Business School and a visiting professor at the University of Virginia. He began his career as a financial analyst for Morgan Stanley Merchant Banking Group before moving on to Tiger Management, where he became president in 1993.

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.

This is the portfolio chart of John Griffin. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.



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:

Consumer Services 23.2%
Technology 16.2%
Financials 12.6%
Health Care 11.7%
Not Assigned 9.8%
Oil & Gas 7.2%
Telecommunications 4.2%
Industrials 3.9%
Utilities 3.2%
Basic Materials 2.6%
Consumer Goods 1.3%


These are the top 5 holdings of John Griffin

  1. Valeant Pharmaceuticals International Inc. (VRX) - 9,800,000 shares, 7.679% of the total portfolio. Shares added by 9.8%
  2. Apple Inc. (AAPL) - 1,200,000 shares, 6.0744% of the total portfolio. Shares added by 22.81%
  3. Amazon.com Inc. (AMZN) - 1,941,896 shares, 5.9883% of the total portfolio. Shares reduced by 0.57%
  4. Netflix Inc. (NFLX) - 1,115,000 shares, 4.417% of the total portfolio. Shares added by 10.95%
  5. Market Vectors ETF Trust Market Vectors Gold Miner (GDX) - 4,998,000 shares, 4.1145% of the total portfolio.


Added: Level 3 Communications Inc. (LVLT)

John Griffin added to his holdings in Level 3 Communications Inc. by 354.32%. His purchase prices were between $1.42 and $2.4, with an estimated average price of $1.92. The impact to his portfolio due to this purchase was 2.39%. His holdings were 83,164,130 shares as of 06/30/2011.

Level 3 Communications is an international communications and information services company. Level 3 Communications Inc. has a market cap of $3.48 billion; its shares were traded at around $1.99 with and P/S ratio of 1.

Added: Thermo Fisher Scientific (TMO)

John Griffin added to his holdings in Thermo Fisher Scientific by 43.37%. His purchase prices were between $54.6 and $65.45, with an estimated average price of $60.82. The impact to his portfolio due to this purchase was 1.17%. His holdings were 4,000,000 shares as of 06/30/2011.

Thermo Fisher Scientific is the world leader in serving science, enabling our customers to make the world healthier, cleaner and safer. Thermo Fisher Scientific has a market cap of $21.46 billion; its shares were traded at around $54.91 with a P/E ratio of 14.7 and P/S ratio of 2. Thermo Fisher Scientific had an annual average earnings growth of 12.7% over the past 10 years. GuruFocus rated Thermo Fisher Scientific the business predictability rank of 2.5-star.

Added: Apple Inc. (AAPL)

John Griffin added to his holdings in Apple Inc. by 22.81%. His purchase prices were between $315.32 and $353.009, with an estimated average price of $337.64. The impact to his portfolio due to this purchase was 1.13%. His holdings were 1,200,000 shares as of 06/30/2011.

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 $357.68 billion; its shares were traded at around $383.41 with a P/E ratio of 15.3 and P/S ratio of 5.5. Apple Inc. had an annual average earnings growth of 59.8% over the past 5 years.

New Purchase: Sandisk Corp. (SNDK)

John Griffin initiated holdings in Sandisk Corp.. His purchase prices were between $38.94 and $50.57, with an estimated average price of $45.58. The impact to his portfolio due to this purchase was 2.9%. His holdings were 4,640,000 shares as of 06/30/2011.

Sandisk Corporation designs, manufactures, and markets flash memory storage products that are used in a wide variety of electronic systems. Sandisk Corp. has a market cap of $9.06 billion; its shares were traded at around $38.2 with a P/E ratio of 8.7 and P/S ratio of 1.9.

New Purchase: Google Inc. (GOOG)

John Griffin initiated holdings in Google Inc.. His purchase prices were between $474.88 and $591.8, with an estimated average price of $527.63. The impact to his portfolio due to this purchase was 2.83%. His holdings were 370,000 shares as of 06/30/2011.

Google is a public and profitable company focused on search services. Google Inc. has a market cap of $180.09 billion; its shares were traded at around $557.23 with a P/E ratio of 19.1 and P/S ratio of 6.1. Google Inc. had an annual average earnings growth of 58.4% over the past 10 years.

New Purchase: United Continental Holdings (UAL)

John Griffin initiated holdings in United Continental Holdings. His purchase prices were between $19.79 and $26.68, with an estimated average price of $23.4. The impact to his portfolio due to this purchase was 2.24%. His holdings were 6,575,000 shares as of 06/30/2011.

United Continental Holdings, Inc. is in Airlines industry. United Continental Holdings has a market cap of $5.99 billion; its shares were traded at around $18.26 with a P/E ratio of 5 and P/S ratio of 0.2.

New Purchase: Monsanto Co. (MON)

John Griffin initiated holdings in Monsanto Co.. His purchase prices were between $63.17 and $74.05, with an estimated average price of $67.48. The impact to his portfolio due to this purchase was 2.2%. His holdings were 2,015,000 shares as of 06/30/2011.

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 Co. has a market cap of $37.7 billion; its shares were traded at around $69.86 with a P/E ratio of 23 and P/S ratio of 3.6. The dividend yield of Monsanto Co. stocks is 1.6%. Monsanto Co. had an annual average earnings growth of 19.2% over the past 10 years.

New Purchase: Delta Air Lines (DAL)

John Griffin initiated holdings in Delta Air Lines. His purchase prices were between $9 and $11.51, with an estimated average price of $9.95. The impact to his portfolio due to this purchase was 1.71%. His holdings were 12,400,000 shares as of 06/30/2011.

Delta is America's fastest growing international carrier. Delta Air Lines has a market cap of $6.19 billion; its shares were traded at around $7.32 with a P/E ratio of 5.5 and P/S ratio of 0.2.

New Purchase: Priceline.com Inc. (PCLN)

John Griffin initiated holdings in Priceline.com Inc.. His purchase prices were between $458.78 and $555.65, with an estimated average price of $510.49. The impact to his portfolio due to this purchase was 1.7%. His holdings were 220,000 shares as of 06/30/2011.

Priceline.com Incorporated has pioneered a unique e-commerce pricing system known as a `demand collection system` that enables consumers to use the Internet to save money on a wide range of products and services while enabling sellers to generate incremental revenue. Priceline.com Inc. has a market cap of $25.69 billion; its shares were traded at around $514.35 with a P/E ratio of 33 and P/S ratio of 8.3. Priceline.com Inc. had an annual average earnings growth of 61.7% over the past 5 years.

New Purchase: Global Crossing Ltd. New (GLBC)

John Griffin initiated holdings in Global Crossing Ltd. New. His purchase prices were between $14.39 and $37.77, with an estimated average price of $28.71. The impact to his portfolio due to this purchase was 1.18%. His holdings were 2,035,000 shares as of 06/30/2011.

Global Crossing provides telecommunications solutions over the world's first integrated global IP-based network. Global Crossing Ltd. New has a market cap of $1.95 billion; its shares were traded at around $31.22 with and P/S ratio of 0.7.

Reduced: Jp Morgan Chase (JPM)

John Griffin reduced to his holdings in Jp Morgan Chase by 27.87%. His sale prices were between $39.49 and $47.64, with an estimated average price of $43.33. The impact to his portfolio due to this sale was -1.49%. John Griffin still held 4,970,000 shares as of 06/30/2011.

J.P. Morgan Chase & Co. is a global financial services firm. Jp Morgan Chase has a market cap of $143.43 billion; its shares were traded at around $36.88 with a P/E ratio of 7.7 and P/S ratio of 1.4. The dividend yield of Jp Morgan Chase stocks is 2.8%.

Reduced: Ivanhoe Mines Ltd (IVN)

John Griffin reduced to his holdings in Ivanhoe Mines Ltd by 36.89%. His sale prices were between $21.94 and $28.44, with an estimated average price of $24.8. The impact to his portfolio due to this sale was -1.07%. John Griffin still held 3,927,000 shares as of 06/30/2011.

Ivanhoe Mines is a producer of copper, gold and iron ore products. Ivanhoe Mines Ltd has a market cap of $14.26 billion; its shares were traded at around $21.64 with and P/S ratio of 178.7. Ivanhoe Mines Ltd had an annual average earnings growth of 12.5% over the past 5 years.

Sold Out: Microsoft Corp. (MSFT)

John Griffin sold out his holdings in Microsoft Corp.. His sale prices were between $23.705 and $26.71, with an estimated average price of $25.04.

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 $214.35 billion; its shares were traded at around $25.51 with a P/E ratio of 9.6 and P/S ratio of 3.1. The dividend yield of Microsoft Corp. stocks is 2.5%. Microsoft Corp. had an annual average earnings growth of 14.4% over the past 10 years. GuruFocus rated Microsoft Corp. the business predictability rank of 4.5-star.

Sold Out: Sohu.com Inc. (SOHU)

John Griffin sold out his holdings in Sohu.com Inc.. His sale prices were between $65.82 and $106.28, with an estimated average price of $84.75.

Sohu.com Inc. is a Internet portal in China in terms of brand recognition, page views and registered users. Sohu.com Inc. has a market cap of $3.26 billion; its shares were traded at around $83.93 with a P/E ratio of 20.1 and P/S ratio of 5.3. Sohu.com Inc. had an annual average earnings growth of 67.7% over the past 5 years.

Sold Out: Crown Castle International Corp. (CCI)

John Griffin sold out his holdings in Crown Castle International Corp.. His sale prices were between $39.86 and $44.45, with an estimated average price of $41.69.

Crown Castle International is a owner and operator of towers and transmission networks for wireless communications and broadcast transmission companies. Crown Castle International Corp. has a market cap of $12.52 billion; its shares were traded at around $42.11 with a P/E ratio of 91.7 and P/S ratio of 6.7. Crown Castle International Corp. had an annual average earnings growth of 11.7% over the past 10 years.

About the author:

gurufocus
GuruFocus - Stock Picks and Market Insight of Gurus

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