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Hedge Fund Giant Julian Robertson Buys GDX, PNC, C, WFC, GDXJ; Sells AMZN, TEVA, NFLX

gurufocus

gurufocus

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Julian Robertson of Tiger Management is considered the father of modern hedge funds. Julian Hart Robertson Jr. built his Tiger Management from $8.8 million under his management in 1980 to more than $21 billion in 2000. He reportedly delivered a stellar 28% performance net to investors for 20 years. During the internet bubble in 2000, his funds suffered setbacks due to leveraged shorting of technology stocks and the underperformance of value picks. Haunted by investor redemptions and rocketing technology sector, Robertson decided to return public money to his investors. Ironically, right after the scale back, his style of value investing staged a strong come-back.

Many of the other gurus we track are called Tiger cubs. They started their own firms and have achieved similar success with value based long-short strategy pioneered by Julian Robertson. These Tiger cubs include John Griffin of Blue Ridge Capital, Lee Ainslie of Maverick Capital, Andreas Halvorsen of Viking Global, and Steve Mandel of Lone Pine Capital etc.

As of 12/31/2011, Tiger Management owns 26 stocks with a total value of $238 million. These are the details of the buys and sells.

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

This is the sector weightings of his portfolio:

Technology 32.9%
Financials 30.1%
Health Care 18%
Consumer Services 11.8%
Not Assigned 2.1%
Oil & Gas 1%
Industrials 0.7%
Consumer Goods 0.1%


These are the top 5 holdings of Julian Robertson

  1. Apple Inc. (AAPL) - 68,576 shares, 11.7% of the total portfolio. Shares reduced by 12.67%
  2. Google Inc. (GOOG) - 36,142 shares, 9.8% of the total portfolio.
  3. The Goldman Sachs Group Inc. (GS) - 230,465 shares, 8.8% of the total portfolio. Shares added by 11.57%
  4. Valeant Pharmaceuticals International (VRX) - 398,730 shares, 7.8% of the total portfolio. Shares reduced by 15.76%
  5. Liberty Global Inc. (LBTYA) - 407,595 shares, 7.0% of the total portfolio. Shares reduced by 8.81%


New Purchase: Market Vectors Gold Miners ETF (GDX)

Julian Robertson initiated holdings in Market Vectors Gold Miners ETF. His purchase prices were between $50.06 and $63.3, with an estimated average price of $56.59. The impact to his portfolio due to this purchase was 3.3%. His holdings were 155,000 shares as of 12/31/2011.

New Purchase: The Pnc Financial Services Group Inc. (PNC)

Julian Robertson initiated holdings in The Pnc Financial Services Group Inc.. His purchase prices were between $46.24 and $58.57, with an estimated average price of $52.98. The impact to his portfolio due to this purchase was 3.2%. His holdings were 132,100 shares as of 12/31/2011.

New Purchase: Citigroup Inc. (C)

Julian Robertson initiated holdings in Citigroup Inc.. His purchase prices were between $23.11 and $34.17, with an estimated average price of $27.82. The impact to his portfolio due to this purchase was 3%. His holdings were 275,000 shares as of 12/31/2011.

New Purchase: Wells Fargo & Company (WFC)

Julian Robertson initiated holdings in Wells Fargo & Company. His purchase prices were between $23.18 and $27.785, with an estimated average price of $25.68. The impact to his portfolio due to this purchase was 2.7%. His holdings were 236,800 shares as of 12/31/2011.

New Purchase: GDXJ (GDXJ)

Julian Robertson initiated holdings in Gdxj. His purchase prices were between $23.01 and $33.28, with an estimated average price of $29. The impact to his portfolio due to this purchase was 2.1%. His holdings were 203,100 shares as of 12/31/2011.

Sold Out: Amazon.com Inc. (AMZN)

Julian Robertson sold out his holdings in Amazon.com Inc.. His sale prices were between $173.1 and $246.71, with an estimated average price of $207.24.

Sold Out: Teva Pharmaceutical Industries Ltd. (TEVA)

Julian Robertson sold out his holdings in Teva Pharmaceutical Industries Ltd.. His sale prices were between $35.85 and $42.72, with an estimated average price of $39.75.

Sold Out: Netflix Inc. (NFLX)

Julian Robertson sold out his holdings in Netflix Inc.. His sale prices were between $63.858 and $123.24, with an estimated average price of $86.97.

Added: The Goldman Sachs Group Inc. (GS)

Julian Robertson added to his holdings in The Goldman Sachs Group Inc. by 11.57%. His purchase prices were between $87.7 and $116.4, with an estimated average price of $97.5. The impact to his portfolio due to this purchase was 0.91%. His holdings were 230,465 shares as of 12/31/2011.

Added: Digitalglobe Inc. (DGI)

Julian Robertson added to his holdings in Digitalglobe Inc. by 21.91%. His purchase prices were between $14.02 and $21.88, with an estimated average price of $17.62. The impact to his portfolio due to this purchase was 0.75%. His holdings were 586,331 shares as of 12/31/2011.

Reduced: Mastercard Inc. (MA)

Julian Robertson reduced to his holdings in Mastercard Inc. by 25.92%. His sale prices were between $307.66 and $380.96, with an estimated average price of $352.67. The impact to his portfolio due to this sale was -1.85%. Julian Robertson still held 41,161 shares as of 12/31/2011.

Reduced: Visa Inc (V)

Julian Robertson reduced to his holdings in Visa Inc by 23.52%. His sale prices were between $84.26 and $103.15, with an estimated average price of $93.81. The impact to his portfolio due to this sale was -1.49%. Julian Robertson still held 139,812 shares as of 12/31/2011.

About the author:

gurufocus
GuruFocus - Stock Picks and Market Insight of Gurus

Rating: 4.2/5 (6 votes)

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