This is the latest portfolio update from hedge fund Blue Ridge Capital. Blue Ridge was founded by John Griffin, the protégé of the legendary Julian Robertson. John Griffin runs a long-short portfolio, but 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.
Constructing the portfolio this way makes it perform in a neutral fashion in a down market and gives Griffin the luxury of being somewhat indifferent to the macro environment. [Note: this is very similar to the approach that Buffett took in running his partnership, although in lieu of shorting, Buffett primarily relied on other forms of hedging (arbitrage, control investing, etc.) to protect his downside risk.]
John Griffin buys AIG, America Movil, General Motors, Colfax Corporation, Verisign, Inc., Dollar Tree etc during the 3-months ended 06/30/2012, according to the most recent filings of his investment company, Blue Ridge Capital. As of 06/30/2012, Blue Ridge Capital owns 41 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%.
This is the sector weightings of his portfolio:
These are the top 5 holdings of John Griffin
New Purchase: American International Group, Inc. (AIG, Financial)
John Griffin initiated holdings in American International Group, Inc.. His purchase prices were between $27.43 and $34.4, with an estimated average price of $31.13. The impact to his portfolio due to this purchase was 5.1%. His holdings were 10,440,000 shares as of 06/30/2012. American International Group, Inc., world leaders in insurance and financial services, is the international insurance organization with operations in more than one hundred thirty countries and jurisdictions. American International Group, Inc. has a market cap of $62.43 billion; its shares were traded at around $34.615 with a P/E ratio of 18 and P/S ratio of 1.
New Purchase: America Movil Sab De Cv (adr) (AMX, Financial)
John Griffin initiated holdings in America Movil Sab De Cv (adr). His purchase prices were between $22.94 and $27.48, with an estimated average price of $24.56. The impact to his portfolio due to this purchase was 1.8%. His holdings were 4,575,000 shares as of 06/30/2012. American Movil is the provider of wireless communications services in Mexico. America Movil Sab De Cv (adr) has a market cap of $101.62 billion; its shares were traded at around $26.145 with a P/E ratio of 16.3 and P/S ratio of 2. The dividend yield of America Movil Sab De Cv (adr) stocks is 1.1%. America Movil Sab De Cv (adr) had an annual average earnings growth of 30.3% over the past 10 years. GuruFocus rated America Movil Sab De Cv (adr) the business predictability rank of 3.5-star.
New Purchase: General Motors Company (GM, Financial)
John Griffin initiated holdings in General Motors Company. His purchase prices were between $19.51 and $26.95, with an estimated average price of $22.51. The impact to his portfolio due to this purchase was 1.7%. His holdings were 5,840,000 shares as of 06/30/2012. General Motors Company is engaged in the designing, manufacturing and retailing of vehicles globally including passenger cars, crossover vehicles, and light trucks, sport utility vehicles, vans and other vehicles. General Motors Company has a market cap of $34.47 billion; its shares were traded at around $21.8 with a P/E ratio of 6.8 and P/S ratio of 0.2.
New Purchase: Colfax Corporation (CFX, Financial)
John Griffin initiated holdings in Colfax Corporation. His purchase prices were between $26.55 and $35.2, with an estimated average price of $30.54. The impact to his portfolio due to this purchase was 1.6%. His holdings were 3,945,000 shares as of 06/30/2012. Colfax Corporation is a global supplier of fluid handling products, including pumps, fluid handling systems and specialty valves. Colfax Corporation has a market cap of $3.14 billion; its shares were traded at around $33.14 with a P/E ratio of 24.8 and P/S ratio of 4.5.
New Purchase: Owens Corning (OC, Financial)
John Griffin initiated holdings in Owens Corning. His purchase prices were between $26.57 and $35.47, with an estimated average price of $31.39. The impact to his portfolio due to this purchase was 1.1%. His holdings were 2,550,000 shares as of 06/30/2012. Owens Corning is a world leader in building materials systems and composite solutions. Owens Corning has a market cap of $3.82 billion; its shares were traded at around $31.57 with a P/E ratio of 16.2 and P/S ratio of 0.7.
Here is the complete portfolio of John Griffin. Also check out the Undervalued Stocks, Top Growth Companies, and High Yield stocks of John Griffin.
Constructing the portfolio this way makes it perform in a neutral fashion in a down market and gives Griffin the luxury of being somewhat indifferent to the macro environment. [Note: this is very similar to the approach that Buffett took in running his partnership, although in lieu of shorting, Buffett primarily relied on other forms of hedging (arbitrage, control investing, etc.) to protect his downside risk.]
John Griffin buys AIG, America Movil, General Motors, Colfax Corporation, Verisign, Inc., Dollar Tree etc during the 3-months ended 06/30/2012, according to the most recent filings of his investment company, Blue Ridge Capital. As of 06/30/2012, Blue Ridge Capital owns 41 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%.
- New Purchases: AIG, AMX, GM, CFX, OC, MCP, WPRT,
- Added Positions: VRSN, DLTR, MLM, GILD, TRIP, WBC, SIRI, HCA, LOW, KORS, TMO, AAPL, NFLX,
- Reduced Positions: MON, BLK,
- Sold Out: BIDU, YNDX, NG,
This is the sector weightings of his portfolio:
| Consumer Services | 28.6% |
| Technology | 20.3% |
| Industrials | 13.7% |
| Financials | 12% |
| Health Care | 10.9% |
| Consumer Goods | 7.7% |
| Oil & Gas | 4.9% |
| Telecom | 1.8% |
| Not Assigned | 0.3% |
These are the top 5 holdings of John Griffin
- Apple Inc. (AAPL) - 751,500 shares, 6.6% of the total portfolio. Shares added by 4.3%
- Amazon.com, Inc. (AMZN) - 1,741,896 shares, 6.0% of the total portfolio.
- Priceline.com Inc (PCLN) - 554,000 shares, 5.6% of the total portfolio.
- American International Group, Inc. (AIG) - 10,440,000 shares, 5.1% of the total portfolio. New Position
- Google Inc (GOOG) - 520,000 shares, 4.6% of the total portfolio.
New Purchase: American International Group, Inc. (AIG, Financial)
John Griffin initiated holdings in American International Group, Inc.. His purchase prices were between $27.43 and $34.4, with an estimated average price of $31.13. The impact to his portfolio due to this purchase was 5.1%. His holdings were 10,440,000 shares as of 06/30/2012. American International Group, Inc., world leaders in insurance and financial services, is the international insurance organization with operations in more than one hundred thirty countries and jurisdictions. American International Group, Inc. has a market cap of $62.43 billion; its shares were traded at around $34.615 with a P/E ratio of 18 and P/S ratio of 1.
New Purchase: America Movil Sab De Cv (adr) (AMX, Financial)
John Griffin initiated holdings in America Movil Sab De Cv (adr). His purchase prices were between $22.94 and $27.48, with an estimated average price of $24.56. The impact to his portfolio due to this purchase was 1.8%. His holdings were 4,575,000 shares as of 06/30/2012. American Movil is the provider of wireless communications services in Mexico. America Movil Sab De Cv (adr) has a market cap of $101.62 billion; its shares were traded at around $26.145 with a P/E ratio of 16.3 and P/S ratio of 2. The dividend yield of America Movil Sab De Cv (adr) stocks is 1.1%. America Movil Sab De Cv (adr) had an annual average earnings growth of 30.3% over the past 10 years. GuruFocus rated America Movil Sab De Cv (adr) the business predictability rank of 3.5-star.
New Purchase: General Motors Company (GM, Financial)
John Griffin initiated holdings in General Motors Company. His purchase prices were between $19.51 and $26.95, with an estimated average price of $22.51. The impact to his portfolio due to this purchase was 1.7%. His holdings were 5,840,000 shares as of 06/30/2012. General Motors Company is engaged in the designing, manufacturing and retailing of vehicles globally including passenger cars, crossover vehicles, and light trucks, sport utility vehicles, vans and other vehicles. General Motors Company has a market cap of $34.47 billion; its shares were traded at around $21.8 with a P/E ratio of 6.8 and P/S ratio of 0.2.
New Purchase: Colfax Corporation (CFX, Financial)
John Griffin initiated holdings in Colfax Corporation. His purchase prices were between $26.55 and $35.2, with an estimated average price of $30.54. The impact to his portfolio due to this purchase was 1.6%. His holdings were 3,945,000 shares as of 06/30/2012. Colfax Corporation is a global supplier of fluid handling products, including pumps, fluid handling systems and specialty valves. Colfax Corporation has a market cap of $3.14 billion; its shares were traded at around $33.14 with a P/E ratio of 24.8 and P/S ratio of 4.5.
New Purchase: Owens Corning (OC, Financial)
John Griffin initiated holdings in Owens Corning. His purchase prices were between $26.57 and $35.47, with an estimated average price of $31.39. The impact to his portfolio due to this purchase was 1.1%. His holdings were 2,550,000 shares as of 06/30/2012. Owens Corning is a world leader in building materials systems and composite solutions. Owens Corning has a market cap of $3.82 billion; its shares were traded at around $31.57 with a P/E ratio of 16.2 and P/S ratio of 0.7.
Here is the complete portfolio of John Griffin. Also check out the Undervalued Stocks, Top Growth Companies, and High Yield stocks of John Griffin.
