Julian Robertson

Julian Robertson

Last Update: 08-14-2015

Number of Stocks: 48
Number of New Stocks: 12

Total Value: $708 Mil
Q/Q Turnover: 41%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Julian Robertson' s Profile & Performance

Profile

Julian Robertson is considered the father of hedge fund. He launched his firm Tiger Management in 1980 with $8 million, and turned it into over $22 billion in the late 1990s. Robertson had the best hedge fund record throughout the 1980s and 1990s. It is reported that the compound rate of return to his investors was 32%. During his active years, he was considered to be the "Wizard of Wall Street." His hedge fund, Tiger Management, became the world's largest fund, which peaked at over $23 billion invested.
He lost 4% in 1998 and 19% in 1999 as rival investors were riding the dot-com bubble to spectacular returns. He shut down his fund.
Today Tiger Management only manages fund from internal investment, mainly Mr. Robertson’s own money.


Besides his investment record, Mr. Robertson also mentored a group of young hedge fund managers, known as the "Tiger Cubs." A number of them became extremely successful hedge fund managers in their own right, including John Griffin of Blue Ridge Capital, Lee Ainslie of Maverick Capital, Andreas Halvorsen of Viking Global, and Steve Mandel of Lone Pine Capital. They are also included in our List of Gurus.

Investing Philosophy

Mr. Robertson invests with long-short strategies. These are some of his quotes:
"Our mandate is to find the 200 best companies in the world and invest in them, and find the 200 worst companies in the world and go short on them. If the 200 best don't do better than the 200 worst, you should probably be in another business."

"When Robertson is convinced that he is right," a former Tiger executive notes, "Julian bets the farm."

"Hear a [stock] story, analyze and buy aggressively if it feels right."

Total Holding History

Top Ranked Articles

Hedge Fund Giant Tiger Management Reports Q2 Portfolio: Buys TEVA, CXO, AMAP, TAOM, SIRI, AAPL, GS
This is the Q1 portfolio update for legendary hedge fund manager Julian Robertson at Tiger Management. The portfolio is primarily Mr. Robertson’s personal investment. Read more...
Google: A Quality Tech Stock That Gurus Own
Google (NASDAQ:GOOG), the Internet search engine, is generating revenue with only the users’ clicks or the advertising related to their searches. Indeed, this activity represents 80% of its revenues. The remaining revenue is driven by advertising that Google places in other companies' websites, and by smaller initiatives. Read more...
Tilson Provides Recipe For Aspiring Hedgies For Attracting Patient Long Term Capital To Your Fund
I honestly don’t know how you hedge fund managers do it. Investing is hard enough. Having to invest with the fickle nature of your fund’s investors in mind must be exponentially difficult. Read more...
How the Tigers Stir Fry Investment Ideas
The Wall Street Tiger is back! More than ten years after closing Tiger Management LLC, Julian Robertson has opened the Tiger Accelerator Fund to seed the enterprises of young hedge fund talent. One such talent is his own heir apparent: the young Alexander Robertson. Read more...
Julian Robertson Keeps Buying CRME, Selling AAPL
Julian Robertson, legendary investor and inventor of the hedge fund, is acquiring one stock and selling one stock with regularity. Robertson owns Tiger Management, which he closed to outside investors in 1999 and instead used primarily to invest his own wealth. He recently opened to new investors again. Prior to the closure, he delivered a compound rate of return of 32% to investors, according to reports. The stock he continues to buy today is Cardiome Pharma Corp. (NASDAQ:CRME). He continues to sell Apple Inc. (NASDAQ:AAPL). Read more...
» More Julian Robertson Articles

Julian H. Robertson Jr. is an American former hedge fund manager.  He was born in Salisbury, North Carolina in 1932.  Robertson graduated from the University of North Carolina with a degree in business administration in 1955.  After a stint in the Navy, he joined Kidder, Peabody & Co. in New York in 1957 and, over a twenty year career, became one of the firm's top producing stockbrokers.  Robertson founded the investment firm Tiger Management Corp., one of the earliest hedge funds in 1980 with $8 million start-up capital that became over $22 billion in the late 1990s.  Quick success was also followed by a fast downward spiral of investor withdrawals that ended with the fund closing in 2000.  Now retired, Robertson invests directly in other hedge funds, most run by former employees of Robertson's defunct hedge fund company. He is active in philanthropy and supporting the resolution of environmental issues.

Subsequently, he became head of Kidder Peabody's money management subsidiary, Webster Management Corporation. In 1993, his compensation and share of Tiger's gain exceeded $300 million.  His 2003 estimated net worth was over $400 million, and in March 2011 it was estimated by Forbes at $2.3 billion, a slight increase from the $2.2 billion estimated the previous year. Robertson said in 2008 that he shorted subprime securities and made money through credit default swaps. The following year, according to Forbes, Robertson's return on his $200-million personal trading account was 150 percent.

Year after year of brilliant returns turned a reported $8 million investment in 1980 into $7.2 billion in 1996. During the later part of this period, Robertson was the reigning titan of the world's hedge funds. At his peak, no one could best him for sheer stock-picking acumen. Investors, at a required minimum initial investment of $5 million, flocked into his six hedge funds.  In the late 1990s, Robertson agonized over the tech-stock craze and, while avoiding what he considered to be "irrational" investing, the TMG funds missed out on any participation on the big gains of the sector. The gradual demise of Tiger from 1998 to 2000, when all its funds were closed, was reflected in the plunge in assets under management from a peak of $22 billion in assets in 1998 to a closing value of $6 billion.  Poor stock picking and large, misplaced bets on risky market trades are usually cited as the cause of Robertson's downfall. However, it is felt by many objective observers that high-level executive defections from TMG's management, as well as Robertson's autocratic managerial style and notorious temper, eventually took their toll on the firm's performance.  Tiger's largest equity holding at that time was U.S. Airways, whose troubles dragged down the value of his holdings.  After closing his fund in 2000, Robertson kept his hand in the hedge fund business by supporting and financing upcoming hedge fund managers, in return for a stake in their fund management companies. Apart from those, many of the analysts and managers Robertson employed and mentored at Tiger Management went out on their own and are now running some of the best-known hedge fund firms, called "Tiger Cubs".

Robertson has been quoted as saying "our mandate is to find the 200 best companies in the world and invest in them, and find the 200 worst companies in the world and go short on them. If the 200 best don't do better than the 200 worst, you should probably be in another business.  He is very private on his investments.  In TMG, Robertson would get input from his analysts and make all the investment decisions. It is said though that Robertson was a macro trader, and often rode worldwide trends.  His investment style, about which there is very little written, consisted of a "smart idea, grounded on exhaustive research, followed by a big bet." Not exactly a practical framework that would work for the general investing public.

Commentaries and Stories

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Julian Robertson's Second Dalliance with Investors Disappoints
For Julian Robertson (Trades, Portfolio), the 83-year-old billionaire former hedge fund manager, history is repeating itself. More...

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A Change in Scenery
I wanted to start off my article today by announcing a relatively significant change in my career. As many of you know, Nintai – which was a management consulting business with its own internal fund – has been winding down operations and will shortly be nothing but a memory. Any assets in the firm will likely be fully dispersed by the time of publication. The only remaining part of the business will be my own managed portfolio of the newly created Nintai Charitable Trust. Accordingly, any mention I may make going forward referring to “Nintai” will be strictly associated with any trades or positions in the Trust portfolio. More...

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Halvorsen Ups Stake in Chinese Travel Company Qunar Andreas Halvorsen,Julian Robertson - Halvorsen Ups Stake In Chinese Travel Company Qunar
Andreas Halvorsen (Trades, Portfolio) of Viking Global Investors increased his stake in Qunar Cayman Islands (NASDAQ:QUNR) on July 7, purchasing 9,146,107 shares for $36.87 per share, according to the 13G filing. More...

ANDREAS HALVORSEN, VIKING GLOBAL, QUNAR CAYMAN ISLANDS


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Robert Kessler Still Bullish On U.S. Treasuries
Anyone with half a brain is bearish on U.S. Treasuries, right? More...

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Julian Robertson: Ridiculous Bond Yields Have Forced Investors Into Stocks
Where is hedge fund legend Julian Robertson (Trades, Portfolio) investing today? More...

Julian Robertson, Video


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Alibaba Is Down, But Not Out Julian Robertson - Alibaba Is Down, But Not Out
Alibaba (NYSE:BABA) has declined by 25% year-to-date, and the decline in the stock has been accelerated by the recent carnage in Chinese equities. While China’s GDP growth is likely to remain muted in the coming quarters, I believe that the recent correction is a good opportunity to accumulate Alibaba. This article discusses the factors that will trigger renewed upside for Alibaba. I must mention at the onset that Julian Robertson (Trades, Portfolio) of Tiger Capital Management has increased his stake in Alibaba according to last quarter holdings, and he now holds 636,878 shares of the company. This underscores the point that Gurus see value in the stock. More...

LONG, E-COMMERCE, Alibaba, China


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Julian Robertson Discusses Greece Threat, Stocks and Apple
Well-known hedge fund leader Julian Robertson (Trades, Portfolio) told CNBC today the world could adjust to Greece's problems, but the fallout could pose a contagion to surrounding nations. He believes U.S. markets are overheated and discusses his positivity on Apple (NASDAQ:AAPL), Chinese company JD.com (NASDAQ:JD) and Gilead Sciences (NASDAQ:GILD).  More...

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Julian Robertson Adds 16 New Stakes to Portfolio Julian Robertson - Julian Robertson Adds 16 New Stakes To Portfolio
As the founder of one of the earliest hedge funds, Julian Robertson (Trades, Portfolio) is a pioneer in the world of investing. Robertson made 16 new buys in the first quarter, two of which were significant enough to join the 10 most valuable stakes in his portfolio. Now retired, Robertson invests in hedge funds that are often run by his former employees. More...

Julian Robertson


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Chase Coleman initiates a position in IBM
Chase Coleman (Trades, Portfolio) is the founder of Tiger Global Management. He is one of the Tiger Cub, i.e. manager who learned their strategies from the legendary Julian Robertson (Trades, Portfolio). Last quarter, he initiated a position in International Business Machines (NYSE:IBM) by buying 141,823 shares. More...

LONG


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Julian Robertson Initiates Position in Masco
Julian Robertson (Trades, Portfolio) is considered the father of the hedge fund. He launched his firm Tiger Management in 1980 with $8 million, and turned it into over $22 billion in the late 1990s. Robertson had the best hedge fund record throughout the 1980s and 1990s. It is reported that the compound rate of return to his investors was 32%. During his active years, he was considered to be the "Wizard of Wall Street." His hedge fund, Tiger Management, became the world's largest fund, which peaked at over $23 billion invested. He lost 4% in 1998 and 19% in 1999 as rival investors were riding the dot-com bubble to spectacular returns. He shut down his fund. Today Tiger Management only manages fund from internal investment, mainly Mr. Robertson own money. More...

LONG


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15 Words of Wisdom on Finding an Edge Seth Klarman,Julian Robertson - 15 Words Of Wisdom On Finding An Edge
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Hedge Fund Legend Julian Robertson Is Worried About A Bond Bubble
Watch the latest video at video.foxbusiness.com More...

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Billionaire investor Julian Robertson: I Am Worried About Bond Market Julian Robertson - Billionaire Investor Julian Robertson: I Am Worried About Bond Market
Billionaire investor Julian Robertson (Trades, Portfolio) spoke with FOX Business Network’s (FBN) Maria Bartiromo about the recent market activity. Robertson said, “The thing that worries me the most are the twin bubbles that are developing, certainly the Federal Reserves of all the countries, the people that run their Treasury operations are trying to really create a bubble in bonds.” When asked about whether he thinks the Federal Reserve will raise interest rates this year, Robertson said, “I think the economy wants it and I think they’re not going to be crazy enough just to let this thing boil over into complete explosion.” Robertson also commented on what stocks he likes, saying, “I like the great growth companies.” More...

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Stanley Druckenmiller Disagrees With Buffett On IBM Julian Robertson,Stanley Druckenmiller,Warren Buff - Stanley Druckenmiller Disagrees With Buffett On IBM
Julian Robertson (Trades, Portfolio) calls Stanley Druckenmiller the greatest investor alive. Most people would name Warren Buffett if asked that question. More...

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Tiger Management’s Julian Robertson Buys Apple, Netflix, Illumina, Sells Alibaba, EBay, MasTec Julian Robertson - Tiger Management’s Julian Robertson Buys Apple, Netflix, Illumina, Sells Alibaba, EBay, MasTec
Legendary hedge fund manager Julian Robertson (Trades, Portfolio) just reported his fourth quarter portfolio. He buys Apple Inc, Netflix Inc, Illumina Inc, Google Inc, Santander Consumer USA Holdings Inc, SeaWorld Entertainment Inc, Gilead Sciences Inc, IAC/InterActiveCorp, Macrogenics Inc, Delta Air Lines Inc, Fidelity National Financial Inc, Liberty Interactive Corp, CBS Corp, Royal Caribbean Cruises Ltd, Harman International Industries Inc, Facebook Inc, Vectrus Inc, Polycom Inc, Tribune Media Co, Cirrus Logic Inc, Liberty Broadband Corp, Nielsen NV, Ctrip.com International Ltd, sells Alibaba Group Holding Ltd, eBay Inc, MasTec Inc, E*Trade Financial Corp, NorthStar Asset Management Group Inc, Ensign Group Inc, SunCoke Energy Inc, Endo International PLC, Service Corp International Inc, Citrix Systems Inc, Life Time Fitness Inc, Pandora Media Inc, Rackspace Hosting Inc, Nokia Oyj, CommVault Systems Inc, Kate Spade & Co, Escalade Inc, Informatica Corp More...

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Guru Stocks at 52-Week Lows: GOOG, VZ, HSBC, SNY, TOT
The prices of Google Inc (NASDAQ:GOOG) shares have declined to close to the 52-week low of $496.17, which is 19.2% off the 52-week high of $604.83. Google Inc is owned by 39 Gurus we are tracking. Among them, 13 have added to their positions during the past quarter. 18 reduced their positions. More...

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Hedge Fund Legend Julian Robertson Weighs In On The Markets, Immigration and Hedge Funds Julian Robertson - Hedge Fund Legend Julian Robertson Weighs In On The Markets, Immigration And Hedge Funds
Once the most successful hedge fund manager in the world, Julian Robertson (Trades, Portfolio) is still active today. More...

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Tiger Management Founder Julian Robertson: Bought Apple within the Last 2 or 3 Weeks Julian Robertson - Tiger Management Founder Julian Robertson: Bought Apple Within The Last 2 Or 3 Weeks
Tiger Management Founder Julian Robertson (Trades, Portfolio) spoke with FOX Business Network’s (FBN) Maria Bartiromo about his thoughts on the global economy and Apple. Robertson said, “I would say that Europe is in serious trouble” and “China’s got some serious problems too.” Robertson also commented on Apple saying, “I’ve bought it within the last two or three weeks. And I really do think it’s extremely reasonably priced.” Robertson went on to say, “I’ve had been very hesitate after reading the [Steve] Jobs book because I felt his sort of attitude towards his partners and towards his employees was not conducive to really building a great company” however, “I think Tim Cook is the man for the job.” More...

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Tiger Management’s Julian Robertson Buys Alibaba, eBay, MasTec, Sells Tableau Software, Monsanto, Post Holdings Julian Robertson - Tiger Management’s Julian Robertson Buys Alibaba, EBay, MasTec, Sells Tableau Software, Monsanto, Post Holdings
There is no further need to introduce Julian Robertson (Trades, Portfolio), the legendary hedge fund manager who in these days mainly manage his own money at Tiger Management. These are his third quarter trades. Look, he got into Alibaba! More...

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A Good Stock to Buy: Micron Technologies
In this article, let's take a look at Micron Technology, Inc (NASDAQ:MU), a $31.74 billion market cap company, which is a manufacturer of semiconductor memory products, including DRAM and NAND flash memory, as well as image sensors. More...

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User Comments

Goforit
ReplyGoforit - 1 year ago
How are premium members of GuruFocus supposed to evaluate the list of Gurus when more often than not there is no historical performance records. Most of the time the "profile/performance" tab does not have anything on performance. Why not? Maybe it should just be called the "profile" tab. This is very frustrating.

Also, if you do not have the performance record, then how do you even know that they deserve to be in the Guru list? Maybe they should not be listed?

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