A protégé of Julian Robertson (Trades, Portfolio), Robert Karr (Trades, Portfolio) likes to hold concentrated positions in new technologies. Technology stock activity, both sales and purchases, made a prominent theme in his second-quarter transactions.
Karr sold most of his stake in Baidu Inc. (BIDU, Financial), a Beijing-based Web services company, in the second quarter. Karr sold 339,060 shares for an average price of $204.77 per share, leaving 1,640 shares in his portfolio. The transaction had a -16.15% impact on that portfolio.
Baidu has a market cap of $46.95 billion and an enterprise value of $40.93 billion. It has a P/E of 22.4, a P/B of 4.9 and a P/S of 5.1. Frank Sands (Trades, Portfolio), Dodge & Cox, Andreas Halvorsen (Trades, Portfolio), Manning & Napier Advisors, Inc., Matthews Pacific Tiger Fund (Trades, Portfolio), Ken Fisher (Trades, Portfolio), Lee Ainslie (Trades, Portfolio), John Rogers (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), Louis Moore Bacon (Trades, Portfolio), Matthews China Fund (Trades, Portfolio), Steven Cohen (Trades, Portfolio), George Soros (Trades, Portfolio), Chris Davis (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), Ron Baron (Trades, Portfolio) and First Eagle Investment (Trades, Portfolio) have shares of Baidu in their portfolios.
Karr also reduced his stake in Google Inc. (GOOG, Financial), a Mountain View, Calif.-based Internet and computer software program, by 98,122 shares. Karr sold the shares for an average price of $535.95 per share. That deal had a -12.26% impact on his portfolio.
Google (GOOG, Financial) has a market cap of $405.25 billion and an enterprise value of $361.59 billion. It has a P/E of 29.3, a P/B of 3.8 and a P/S of 6.1.
Dodge & Cox, PRIMECAP Management (Trades, Portfolio), Chris Davis (Trades, Portfolio), Mason Hawkins (Trades, Portfolio), Andreas Halvorsen (Trades, Portfolio), Frank Sands (Trades, Portfolio), Manning & Napier Advisors, Inc., Lee Ainslie (Trades, Portfolio), Ruane Cunniff (Trades, Portfolio), Ken Fisher (Trades, Portfolio), Eric Mindich (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Jim Simons (Trades, Portfolio), David Tepper (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), First Eagle Investment (Trades, Portfolio), First Pacific Advisors (Trades, Portfolio), Steven Romick (Trades, Portfolio), David Rolfe (Trades, Portfolio), Tweedy Browne (Trades, Portfolio), Wallace Weitz (Trades, Portfolio), Tweedy Browne (Trades, Portfolio) Global Value, Mohnish Pabrai (Trades, Portfolio), Charles de Vaulx (Trades, Portfolio), Julian Robertson (Trades, Portfolio), Murray Stahl (Trades, Portfolio), David Winters (Trades, Portfolio), Wintergreen Fund (Trades, Portfolio), RS Investment Management (Trades, Portfolio), Ron Baron (Trades, Portfolio), Signature Select Canadian Fund (Trades, Portfolio), Steven Cohen (Trades, Portfolio), Tom Gayner (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), Richard Snow (Trades, Portfolio), Mario Cibelli (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), Tom Russo (Trades, Portfolio) and Bill Frels (Trades, Portfolio) have shares of Google (GOOG, Financial).
Karr also sold a portion of his Google (GOOGL, Financial) stake, selling 1,357 shares for an average price of $549.45 per share. That deal had a -0.17% impact on his portfolio.
Google (GOOGL, Financial) has a market cap of $426.63 billion and an enterprise value of $362.08 billion. It has a P/E of 29.4, a P/B of 3.8 and a P/S of 6.2.
Andreas Halvorsen (Trades, Portfolio), PRIMECAP Management (Trades, Portfolio), Frank Sands (Trades, Portfolio), Chris Davis (Trades, Portfolio), Manning & Napier Advisors, Inc., Ruane Cunniff (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Larry Robbins (Trades, Portfolio), Diamond Hill Capital (Trades, Portfolio), David Rolfe (Trades, Portfolio), Steven Cohen (Trades, Portfolio), First Pacific Advisors (Trades, Portfolio), Steven Romick (Trades, Portfolio), Leon Cooperman (Trades, Portfolio), RS Investment Management (Trades, Portfolio), Tweedy Browne (Trades, Portfolio), NWQ Managers (Trades, Portfolio), Tweedy Browne (Trades, Portfolio) Global Value, Jim Simons (Trades, Portfolio), Wallace Weitz (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), Murray Stahl (Trades, Portfolio), David Winters (Trades, Portfolio), Louis Moore Bacon (Trades, Portfolio), Wintergreen Fund (Trades, Portfolio), Ray Dalio (Trades, Portfolio), Ron Baron (Trades, Portfolio), Charles de Vaulx (Trades, Portfolio), Julian Robertson (Trades, Portfolio), Tom Gayner (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), John Burbank (Trades, Portfolio), Mario Cibelli (Trades, Portfolio), Tom Russo (Trades, Portfolio), Jeff Auxier (Trades, Portfolio) and Bill Frels (Trades, Portfolio) have shares of Google (GOOGL, Financial) in their portfolios.
Karr also reduced his stakes in Qunar Cayman Islands Ltd. (QUNR, Financial) and TAL Education Group (XRS, Financial) in the second quarter.
Karr sold his 805,677-share stake in Yelp Inc. (YELP, Financial), a San Francisco-based online business ratings and reviews company, for an average price of $46.4 per share. The deal had a -8.72% impact on his portfolio.
Yelp has a market cap of $1.64 billion and an enterprise value of $1.27 billion. It has a P/E of 49.7, a P/B of 2.4 and a P/S of 3.5. Caxton Associates (Trades, Portfolio), Ruane Cunniff (Trades, Portfolio), Ken Fisher (Trades, Portfolio), RS Investment Management (Trades, Portfolio) and Mario Gabelli (Trades, Portfolio) have shares of Yelp in their portfolios.
On Sunday Yelp named board member Diane Irvine its first chairwoman.
Buys and additions
Karr invested in a 1,902,600-share stake in GrubHub Inc. (GRUB, Financial), a Chicago-based online meal-ordering company, for an average price of $40.57 per share. The transaction had a 15.11% impact on Karr’s portfolio.
GrubHub has a market cap of $2.03 billion and an enterprise value of $1.73 billion. It has a P/E of 54.9, a P/B of 2.4 and a P/S of 6.5. Karr is GrubHub’s leading shareholder among the gurus; Ron Baron (Trades, Portfolio), Chris Davis (Trades, Portfolio), Jim Simons (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), Julian Robertson (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio) also have shares of GrubHub in their portfolios.
Karr acquired a 2,822,655-share stake in iKang Healthcare Group Inc. (KANG, Financial), “the largest provider in China's fast growing private preventive healthcare services market,” according to the company’s Web site. Karr paid an average price of $18.34 per share. The deal had a 12.72% impact on Karr’s portfolio.
The market cap for iKang Healthcare is $999.23 million, and the enterprise value is $1.01 billion. It has a P/E of 28.7, a P/B of 2.9 and a P/S of 3.2. Steven Cohen (Trades, Portfolio), Howard Marks (Trades, Portfolio), Jim Simons (Trades, Portfolio) and RS Investment Management (Trades, Portfolio) have shares of iKang Healthcare in their portfolios.
Karr added to one position in the second quarter, buying 319,800 shares of Mead Johnson Nutrition Co. (MJN, Financial), a Glenview, Ill.-based infant formula manufacturer, for an average price of $96.5 per share. The purchase had a 6.72% impact on Karr’s portfolio.
Mead Johnson Nutrition has a market cap of $14.24 billion and an enterprise value of $14.32 billion. It has a P/E of 20.0, a P/B of 18.9 and a P/S of 3.3. David Rolfe (Trades, Portfolio), Jim Simons (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), George Soros (Trades, Portfolio), John Hussman (Trades, Portfolio), Steven Cohen (Trades, Portfolio), MS Global Franchise Fund (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), Lee Ainslie (Trades, Portfolio) and John Burbank (Trades, Portfolio) have shares of Mead Johnson Nutrition in their portfolios.
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