Julian Robertson

Julian Robertson

Last Update: 08-14-2018

Number of Stocks: 77
Number of New Stocks: 13

Total Value: $496 Mil
Q/Q Turnover: 5%

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

Andreas Halvorsen’s Top 5 Buys in 2nd Quarter Norwegian guru makes big bets on GE, DowDuPont
Norwegian-born guru Andreas Halvorsen (Trades, Portfolio), founding partner and chief investing officer of Viking Global Investors LP, disclosed on Tuesday that his top five buys for the second quarter were General Electric Co. (NYSE:GE), DowDuPont Inc. (NYSE:DWDP), The Middleby Corp. (NASDAQ:MIDD), Baidu Inc. (NASDAQ:BIDU) and T-Mobile US Inc. (NASDAQ:TMUS). Read more...
Julian Robertson and Chase Coleman: Sometimes Ferocious Tigers The two gurus are linked by their Tiger Management connections, but have very different takes on the tech sector
Chase Coleman’s Tiger Global Raises Bet on Sea and Sunrun Tech guru keeps buying shares of solar company and discloses top four buys for the second quarter
Chase Coleman (Trades, Portfolio)’s Tiger Global Management disclosed on Thursday that he expanded his holding in Sea Ltd. (NYSE:SE) and continued increasing his holding in Sunrun Inc. (NASDAQ:RUN). Read more...
Behavioral Investing: Small, Manageable Steps Within a Process Summing up and winding down a book that wants to help us NOT be our own worst investing enemies
In the conclusion of "The Little Book of Behavioral Investing: How Not to Be Your Own Worst Enemy," James Montier provided more suggestions that can help us rise above the inherent biases that sabotage our investing. Read more...
John Griffin: A Former Tiger Cub’s Wavering Fortunes The founder of Blue Ridge Capital tries to keep up with former glories
Hedge fund owner and manager John Griffin (Trades, Portfolio) had some outstanding years before 2008, but his returns have faded since then. 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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Behavioral Investing: Small, Manageable Steps Within a Process Summing up and winding down a book that wants to help us NOT be our own worst investing enemies Jeremy Grantham,Julian Robertson - Behavioral Investing: Small, Manageable Steps Within A Process
In the conclusion of "The Little Book of Behavioral Investing: How Not to Be Your Own Worst Enemy," James Montier provided more suggestions that can help us rise above the inherent biases that sabotage our investing. More...

JAMES MONTIER,


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Chase Coleman’s Tiger Global Raises Bet on Sea and Sunrun Tech guru keeps buying shares of solar company and discloses top four buys for the second quarter Chase Coleman, Julian Robertson, George Soros, Wil - Chase Coleman’s Tiger Global Raises Bet On Sea And Sunrun
Chase Coleman (Trades, Portfolio)’s Tiger Global Management disclosed on Thursday that he expanded his holding in Sea Ltd. (NYSE:SE) and continued increasing his holding in Sunrun Inc. (NASDAQ:RUN). More...

CHASE COLEMAN, JULIAN ROBERTSON, GEORGE SOROS, WILBUR ROSS, RON BARON, DANIEL LOEB


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Steve Mandel’s Top 3 Buys for 2nd Quarter Guru releases quarterly portfolio Steve Mandel, Julian Robertson, Ray Dalio - Steve Mandel’s Top 3 Buys For 2nd Quarter
Steve Mandel (Trades, Portfolio), portfolio manager of Lone Pine Capital, disclosed on Aug. 14 that his three new positions for the second quarter were Canadian Pacific Railway Ltd. (NYSE:CP), Nvidia Corp. (NASDAQ:NVDA) and Mohawk Industries Inc. (NYSE:MHK). More...

STEVE MANDEL, JULIAN ROBERTSON, RAY DALIO


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Behavioral Investing: Breaking the Case to Invest More Objectively Exploring confirmation bias, and how we can avoid it when researching stocks Julian Robertson, Bruce Berkowitz, Jeremy Grantham - Behavioral Investing: Breaking The Case To Invest More Objectively
What’s called the “confirmatory bias” is on the mind of James Montier in chapter eight of "The Little Book of Behavioral Investing: How Not to Be Your Own Worst Enemy." Broadly speaking, confirmatory bias refers to the human inclination to select evidence that “confirms” what we already think we know. More...

JAMES MONTIER,


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Andreas Halvorsen’s Top 5 Buys in 2nd Quarter Norwegian guru makes big bets on GE, DowDuPont Andreas Halvorsen, Julian Robertson, Prem Watsa, R - Andreas Halvorsen’s Top 5 Buys In 2nd Quarter
Norwegian-born guru Andreas Halvorsen (Trades, Portfolio), founding partner and chief investing officer of Viking Global Investors LP, disclosed on Tuesday that his top five buys for the second quarter were General Electric Co. (NYSE:GE), DowDuPont Inc. (NYSE:DWDP), The Middleby Corp. (NASDAQ:MIDD), Baidu Inc. (NASDAQ:BIDU) and T-Mobile US Inc. (NASDAQ:TMUS). More...

ANDREAS HALVORSEN, JULIAN ROBERTSON, PREM WATSA, RICHARD PZENA, KEN FISHER, MICHAEL PRICE, DANIEL LOEB, PRIMECAP MANAGEMENT, RUANE CUNNIFF


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Tiger Management's Top Growth Picks The firm has walked away with gains of up to 141% for these earnings and revenue growth powerhouses Julian Robertson - Tiger Management's Top Growth Picks
The top-growth companies of Tiger Management, the firm founded by legendary investor Julian Robertson (Trades, Portfolio), have packed hefty returns over a 10-year period. The New York-based investment management firm has walked away with gains of up to 141% for some of these revenue and earnings growth powerhouses. More...

COMPUTER, PIZZA, RETAIL, VIDEO GAMES, EDUCATION, AIRLINE, CHINA, ONLINE, INTERNET, PHARMACEUTICALS, AIDS, HEPATITIS,


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Tiger Management's Portfolio of Undervalued Stocks The firm opened positions in three stocks with attractive price-earnings ratios in recent quarters Julian Robertson - Tiger Management's Portfolio Of Undervalued Stocks
Founded by legendary investor Julian Robertson (Trades, Portfolio), Tiger Management's $780 million portfolio of 96 stocks included three undervalued equities of companies that pack double-digit discounts, GuruFocus estimates showed. More...

APPAREL, PIZZA, EARNINGS, DISCOUNT RATE, SHARES, UNDERVALUED, TIGER MANAGEMENT,


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Chase Coleman's Risky High-Conviction Picks The stock picker is piling on risk with a bet on the company famous for AutoCAD years ago. Facebook is still one of his favorites Chase Coleman, Julian Robertson - Chase Coleman's Risky High-Conviction Picks
Three stocks in a total of 54 equities that sat in Chase Coleman (Trades, Portfolio)’s $15 billion portfolio are high-conviction equities the guru, for the most part, has long been fond of. More...

FACEBOOK, 3D, 2D, ARCHITECTURAL DESIGN, PERSONAL COMPUTER, SOFTWARE, ASSETS, HEDGE FUND, APOLLO,


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Boyar Value Group 2nd Quarter Commentary Discussion of markets and stocks Julian Robertson,Warren Buffett - Boyar Value Group 2nd Quarter Commentary
A Look Back More...

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Chase Coleman Syncs With Spotify Guru establishes stake in newly public streaming company Chase Coleman, Julian Robertson - Chase Coleman Syncs With Spotify
Tiger Global Management founder Chase Coleman (Trades, Portfolio) disclosed he established a 7.19% stake in Spotify Technology SA (NYSE:SPOT) on June 6. More...

CHASE COLEMAN, TIGER GLOBAL, BUY, SPOTIFY


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The Best High-Yield Stock in Private Equity Blackstone Group is undervalued at $32 per share Jim Simons,Julian Robertson - The Best High-Yield Stock In Private Equity
As alternative asset managers go, Blackstone is in a league of its own. The firm manages almost half a trillion dollars in assets -- $434 billion at the end of 2017 to be precise. More than twice its leading competitor Carlyle Group. Off of this massive AUM, Blackstone generated $1.4 billion in net income and $7.1 billion in revenue. That was on the back of solid fourth quarter results where revenue expanded 14% year-over-year thanks to strong performance fees. More...

PRIVATE EQUITY, ALTERNATIVE ASSETS, BLACKSTONE GROUP, STEVE SCHWARZMAN


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Closing Time for Hedge Funds in 2017, With More Liquidating Than Launching Although the trend signaled a turn in the latter half of the year Eric Mindich,Julian Robertson - Closing Time For Hedge Funds In 2017, With More Liquidating Than Launching
More hedge funds closed their doors in 2017 than opened them, although the trend signaled a turn in the latter half of the year. More...

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Tiger Management Buys eBay, IQVIA, Comcast Firm's largest buys of the 4th quarter Julian Robertson - Tiger Management Buys EBay, IQVIA, Comcast
Tiger Management was founded by Julian Robertson (Trades, Portfolio) in 1980. The firm increased several holdings and established many other positions in the fourth quarter. More...

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Steve Mandel Takes an Interest in IQVIA Holdings Hedge fund releases 4th-quarter portfolio Steve Mandel, Julian Robertson - Steve Mandel Takes An Interest In IQVIA Holdings
Lone Pine Capital founder Steve Mandel (Trades, Portfolio) disclosed his fourth-quarter portfolio on Feb. 14, listing eight new positions. More...

STEVE MANDEL, LONE PINE, TIGER CUB, BUYS, 4Q


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Tiger Management’s Top 3 Sells Outweigh Top 3 Buys in 4th Quarter Firm discloses quarterly portfolio Julian Robertson, Chris Davis - Tiger Management’s Top 3 Sells Outweigh Top 3 Buys In 4th Quarter
Tiger Management, founded by legendary hedge fund manager Julian Robertson (Trades, Portfolio), disclosed Wednesday its top three buys and sells for the quarter ending Dec. 31, 2017. The firm divested 88% of its stake in Alibaba Group Holding Ltd. (NYSE:BABA) and its entire stake in two other companies: Celgene Corp. (NASDAQ:CELG) and Boston Scientific Corp. (NYSE:BSX). With the proceeds from these trades, the firm initiated positions in eBay Inc. (NASDAQ:EBAY), IQVIA Holdings Inc. (NYSE:IQV) and Comcast Corp. (NASDAQ:CMCSA). More...

JULIAN ROBERTSON, CHRIS DAVIS


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Lee Ainslie Boosts 2 Health Care Positions The guru added to his Envision Healthcare and Impax Laboratories holdings Lee Ainslie, Julian Robertson - Lee Ainslie Boosts 2 Health Care Positions
Lee Ainslie (Trades, Portfolio), founder of Dallas-based Maverick Capital, disclosed Monday the firm increased its bets on two health care companies: Envision Healthcare Corp. (NYSE:EVHC) and Impax Laboratories Inc. (NASDAQ:IPXL). More...

LEE AINSLIE, VANGUARD HEALTH CARE FUND


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Lee Ainslie Ventures Into Quant Funds The former 'Tiger Cub' is heading into territory not known to the original Tiger Management group Lee Ainslie, Julian Robertson, John Griffin, Chase - Lee Ainslie Ventures Into Quant Funds
Hedge fund founder and manager Lee Ainslie (Trades, Portfolio) has had a couple of rough years. At the same time, he has been testing quant investing strategies, a very different approach for this longtime value investor. More...

LEE AINSLIE, MAVERICK CAPITAL, TIGER CUB, JULIAN ROBERTSON, HEDGE FUND, QUANT, QUANTITATIVE, MAVERICK FUNDS, BOTTOM-UP, FUNDAMENTAL


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John Griffin: A Former Tiger Cub’s Wavering Fortunes The founder of Blue Ridge Capital tries to keep up with former glories John Griffin,Julian Robertson - John Griffin: A Former Tiger Cub’s Wavering Fortunes
Hedge fund owner and manager John Griffin (Trades, Portfolio) had some outstanding years before 2008, but his returns have faded since then. More...

JOHN GRIFFIN, GURU, BLUE RIDGE CAPITAL, HEDGE FUND, JULIAN ROBERTSON, TIGER MANAGEMENT, CUBS, FLAGSHIP FUNDS, LONG FUND, BOTTOM-UP, FUNDAMENTAL RESEARCH, CHECKLISTS, BALANCE SHEET, CHARLIE MUNGER, LAR


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Julian Robertson and Chase Coleman: Sometimes Ferocious Tigers The two gurus are linked by their Tiger Management connections, but have very different takes on the tech sector Julian Robertson, Chase Coleman - Julian Robertson And Chase Coleman: Sometimes Ferocious Tigers
More...

JULIAN ROBERTSON, TIGER MANAGEMENT, CHASE COLEMAN, TIGER GLOBAL MANAGEMENT, GURUS, TECH STOCKS, TIGER CUBS, WIZARD OF WALL STREET, TECH BUBBLE, DOT-COM, HEDGE FUNDS, PRIVATE EQUITY, LONG OPPORTUNITIES


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Advice From the Most Underappreciated Value Investors Wisdom from Henry Singleton, Philip Carret, Shelby M.C. Davis, Julian Robertson and others Julian Robertson, Michael Price, Glenn Greenberg - Advice From The Most Underappreciated Value Investors
Almost every investor knows about the life and times of famous investors like Warren Buffett (Trades, Portfolio), Seth Klarman (Trades, Portfolio), Charlie Munger (Trades, Portfolio) and John Malone. They are not the only investors that have made a name for themselves over the years, however. More...

VALUE INVESTING, HENRY SINGLETON, PHILIP L. CARRET, SHELBY M.C. DAVIS, JULIAN ROBERTSON, JULIAN ROBERTSON, MAX HEINE, GLENN GREENBURG


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