Julian Robertson

Julian Robertson

Last Update: 07-08-2016

Number of Stocks: 38
Number of New Stocks: 11

Total Value: $399 Mil
Q/Q Turnover: 27%

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

Julian Robertson More Than Doubles Stake in T2 Biosystems Company has 2 FDA-approved products and believes it can lower mortality rates
Guru Julian Robertson (Trades, Portfolio) is a billionaire investor and founder of Tiger Management, which netted an average return of 32% from 1980 to 2000. Read more...
Julian Robertson Sells Half of Stake in John Paulson-Backed Company Hedge fund pioneer was fourth largest shareholder of 'medical foods' company
Roughly a year after starting to invest in the company, Julian Robertson (Trades, Portfolio) has chopped half his stake in Enzymotec Ltd. (NASDAQ:ENZY), a maker of nutritional ingredients and medical foods. Read more...
Andreas Halvorsen Raises Stake in Dynegy by 1,563% Strong revenue growth and improvement in EBITDA may have motivated guru
Andreas Halvorsen (Trades, Portfolio) increased his stake in Dynegy Inc. (NYSE:DYN) by 1,563% on May 3. The guru purchased 5,959,436 shares for $16.6 per share. Read more...
Chase Coleman Trims Stake in Pure Storage Rapid growth and short operating history may have influenced guru
Guru Chase Coleman (Trades, Portfolio) reduced his stake in Pure Storage Inc. (NYSE:PSTG) by 4,242,615 shares Monday. Read more...
Julian Robertson Buys 8 New Stakes in 4th Quarter Guru's investments include Teva Pharmaceutical, Dollar Tree
Julian Robertson (Trades, Portfolio) of Tiger Management made eight new buys in a wide range of sectors in the fourth quarter. His preferred sectors, Technology and Healthcare, were well represented. 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 More Than Doubles Stake in T2 Biosystems Company has 2 FDA-approved products and believes it can lower mortality rates Julian Robertson - Julian Robertson More Than Doubles Stake In T2 Biosystems
Guru Julian Robertson (Trades, Portfolio) is a billionaire investor and founder of Tiger Management, which netted an average return of 32% from 1980 to 2000. More...

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Rating: 4.8/5 (4 votes)

Julian Robertson Sells Half of Stake in John Paulson-Backed Company Hedge fund pioneer was fourth largest shareholder of 'medical foods' company Julian Robertson,John Paulson - Julian Robertson Sells Half Of Stake In John Paulson-Backed Company
Roughly a year after starting to invest in the company, Julian Robertson (Trades, Portfolio) has chopped half his stake in Enzymotec Ltd. (NASDAQ:ENZY), a maker of nutritional ingredients and medical foods. More...

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Andreas Halvorsen Raises Stake in Dynegy by 1,563% Strong revenue growth and improvement in EBITDA may have motivated guru Andreas Halvorsen,Julian Robertson - Andreas Halvorsen Raises Stake In Dynegy By 1,563%
Andreas Halvorsen (Trades, Portfolio) increased his stake in Dynegy Inc. (NYSE:DYN) by 1,563% on May 3. The guru purchased 5,959,436 shares for $16.6 per share. More...

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Chase Coleman Trims Stake in Pure Storage Rapid growth and short operating history may have influenced guru Chase Coleman,Julian Robertson - Chase Coleman Trims Stake In Pure Storage
Guru Chase Coleman (Trades, Portfolio) reduced his stake in Pure Storage Inc. (NYSE:PSTG) by 4,242,615 shares Monday. More...

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Julian Robertson Buys 8 New Stakes in 4th Quarter Guru's investments include Teva Pharmaceutical, Dollar Tree Julian Robertson - Julian Robertson Buys 8 New Stakes In 4th Quarter
Julian Robertson (Trades, Portfolio) of Tiger Management made eight new buys in a wide range of sectors in the fourth quarter. His preferred sectors, Technology and Healthcare, were well represented. More...

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Ainslie Buys Stake in Newell Rubbermaid, UnitedHealth Maverick Capital founder adds to top-represented sectors in portfolio Lee Ainslie,Julian Robertson - Ainslie Buys Stake In Newell Rubbermaid, UnitedHealth
Lee Ainslie (Trades, Portfolio), founder and CEO of Dallas-based Maverick Capital, made 23 new investments during the last quarter of 2015, according to data reported by GuruFocus' Real Time Picks. More...

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'Tiger Cub' Halvorsen Buys 5th Energy Stock in 1 Month After a slew of oil and gas purchases, Andreas Halvorsen invests in Encana Andreas Halvorsen,Julian Robertson - 'Tiger Cub' Halvorsen Buys 5th Energy Stock In 1 Month
Andreas Halvorsen (Trades, Portfolio), founding partner of Viking Global Investors, bought his fifth energy stock since just the beginning of the year with about 54.8 million shares in Encana Corp. (NYSE:ECA) on Jan. 20 at $3.50 per share. More...

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Julian Robertson Divests Nvidia Guru sells out stake in computing company Julian Robertson - Julian Robertson Divests Nvidia
Guru Julian Robertson (Trades, Portfolio) sold out his holdings in Nvidia Corp. (NASDAQ:NVDA) in the third quarter. More...

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Robert Karr Buys GrubHub, Alibaba and 3 Other Stocks in 3rd Quarter The increased stake in GrubHub had an impact of 8.66% on his portfolio. 5.50% the impact of Alibaba Robert Karr,Julian Robertson,Joel Greenblatt,Chris - Robert Karr Buys GrubHub, Alibaba And 3 Other Stocks In 3rd Quarter
Robert Karr (Trades, Portfolio), the founder of Joho Capital and one of the Tiger Cubs, manages a $349 million portfolio composed of 11 stocks; during the third quarter he closed 12 trades and just five of them were buys. More...

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Tiger Management Founder Julian Robertson Ups Stake in Enzymotec Biotech company is up 25% for the year Julian Robertson - Tiger Management Founder Julian Robertson Ups Stake In Enzymotec
Guru Julian Robertson (Trades, Portfolio) is a legendary billionaire investor and founder of Tiger Management, which netted an outstanding average return of 32% from 1980 to 2000. More...

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Julian Robertson Keeps Buying Citigroup, Netflix, Facebook The legendary fund manager has increased the stakes for the past 2 quarters Julian Robertson - Julian Robertson Keeps Buying Citigroup, Netflix, Facebook
Julian Robertson (Trades, Portfolio) is considered the father of hedge funds. He launched his firm Tiger Management in 1980 with $8 million, and turned it into over $22 billion in the late 1990s. More...

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With U.S. Equities Remaining Bullish, How Do You Invest in Gold? Gold bullion investors can leverage their positions by investing in stocks Joel Greenblatt,Julian Robertson,First Eagle Inves - With U.S. Equities Remaining Bullish, How Do You Invest In Gold?
The U.S. Federal Reserve is widely expected to increase interest rates in the near future as the country’s economic prospects continue to show promise. This has been the story for the last 12 months after ending the quantitative easing program in Q3 last year. More...

GOLD, LONG, SHORT, STOCKS, COMMODITIES


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Julian Robertson Trims JD.com, Santander Consumer, NVIDIA Guru cuts his stakes in Alphabet and Gilead Julian Robertson,Chase Coleman,Jeremy Grantham,And - Julian Robertson Trims JD.com, Santander Consumer, NVIDIA
Julian Robertson (Trades, Portfolio) is the father of hedge fund Tiger Management. He launched his firm in 1980 with $8 million. He manages a portfolio composed of 51 stocks with total value of $748 million, and the following are his largest sales during the third quarter. More...

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Chase Coleman's Tiger Global Buys Anheuser-Busch, Time Warner Cable Firm betting on brewing company's merger with SABMiller Chase Coleman,Julian Robertson,Murray Stahl,Jim Si - Chase Coleman's Tiger Global Buys Anheuser-Busch, Time Warner Cable
As a “Tiger Cub,” or former protégé of the legendary investor Julian Robertson (Trades, Portfolio), it’s little surprise that Chase Coleman (Trades, Portfolio) has achieved his own success at his investment firm Tiger Global Management, which manages about $20 billion. More...

CHASE COLEMAN, JULIAN ROBERTSON, ANHEUSER-BUSCH, TIME WARNER CABLE


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What's Lee Ainslie's Angle to Buy Into a Pharmaceutical Stalwart Yielding 3%? Exploring guru's motive to take a position in a slow-growing stalwart that is returning quite a bit of cash to shareholders Lee Ainslie,Julian Robertson,Leon Cooperman,John B - What's Lee Ainslie's Angle To Buy Into A Pharmaceutical Stalwart Yielding 3%?
Lee Ainslie (Trades, Portfolio) is the founder and CEO of Maverick Capital, unsurprisingly located in Dallas. Ainslie started Maverick Capital in 1993 with just $38 million. Today the fund is worth many billions of dollars. More...

LONG, HEALTHCARE, BIOTECH


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Legend Julian Robertson Buys CommScope, Pandora, 8 More Investor bought Pandora, Commscope Holding, more Julian Robertson - Legend Julian Robertson Buys CommScope, Pandora, 8 More
Julian Robertson (Trades, Portfolio), who helped spearhead hedge fund investing and now manages his own money, purchased 10 new holdings in the third quarter. More...

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Julian Robertson Boosts His Stakes in JD.com, Netflix He also sells out Alibaba and starts a position in DeVry Julian Robertson,Chase Coleman,Steve Mandel,Chris  - Julian Robertson Boosts His Stakes In JD.com, Netflix
Julian Robertson (Trades, Portfolio) is considered the father of hedge funds. He launched his firm Tiger Management in 1980 with $8 million and turned it into more than $22 billion in the late 1990s. More...

SECOND QUARTER, Q2 2015, TOP TRADES, JULIAN ROBERTSON, EQUITIES


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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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