Julian Robertson recently filed their 13F report for the third quarter of 2022, which ended on 2022-09-30.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Julian Robertson (Trades, Portfolio) 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 (Trades, Portfolio) of Blue Ridge Capital, Lee Ainslie (Trades, Portfolio) of Maverick Capital, Andreas Halvorsen (Trades, Portfolio) of Viking Global, and Steve Mandel (Trades, Portfolio) of Lone Pine Capital. They are also included in our List of Gurus.
As of the latest 13F report, the guru’s equity portfolio contained 22 stocks valued at a total of $229.00Mil. The top holdings were GOOG(13.18%), MSFT(10.57%), and BX(10.46%).
According to GuruFocus data, these were Julian Robertson (Trades, Portfolio)’s top five trades of the quarter.
Workday Inc
The guru established a new position worth 91,000 shares in NAS:WDAY, giving the stock a 6.04% weight in the equity portfolio. Shares traded for an average price of $156.53 during the quarter.
On 11/14/2022, Workday Inc traded for a price of $153.5 per share and a market cap of $39.54Bil. The stock has returned -47.90% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 4 out of 10.
In terms of valuation, Workday Inc has a price-book ratio of 7.68, a EV-to-Ebitda ratio of 177.19 and a price-sales ratio of 6.91.
The price-to-GF Value ratio is 0.54, earning the stock a GF Value rank of 8.
Flywire Corp
The guru sold out of their 384,990-share investment in NAS:FLYW. Previously, the stock had a 2.99% weight in the equity portfolio. Shares traded for an average price of $23.85 during the quarter.
On 11/14/2022, Flywire Corp traded for a price of $22.09 per share and a market cap of $2.41Bil. The stock has returned -50.49% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 1 out of 10.
In terms of valuation, Flywire Corp has a price-book ratio of 5.08, a EV-to-Ebitda ratio of -64.12 and a price-sales ratio of 8.87.
Dollar General Corp
The guru established a new position worth 21,000 shares in NYSE:DG, giving the stock a 2.2% weight in the equity portfolio. Shares traded for an average price of $246.69 during the quarter.
On 11/14/2022, Dollar General Corp traded for a price of $253.31 per share and a market cap of $57.09Bil. The stock has returned 13.40% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 9 out of 10.
In terms of valuation, Dollar General Corp has a price-earnings ratio of 25.21, a price-book ratio of 9.22, a price-earnings-to-growth (PEG) ratio of 1.58, a EV-to-Ebitda ratio of 19.01 and a price-sales ratio of 1.66.
The price-to-GF Value ratio is 0.98, earning the stock a GF Value rank of 6.
Visa Inc
The guru established a new position worth 28,200 shares in NYSE:V, giving the stock a 2.19% weight in the equity portfolio. Shares traded for an average price of $203.49 during the quarter.
On 11/14/2022, Visa Inc traded for a price of $206.5613 per share and a market cap of $433.43Bil. The stock has returned -2.25% over the past year.
GuruFocus gives the company a financial strength rating of 7 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Visa Inc has a price-earnings ratio of 29.43, a price-book ratio of 12.18, a price-earnings-to-growth (PEG) ratio of 2.80, a EV-to-Ebitda ratio of 22.39 and a price-sales ratio of 14.99.
The price-to-GF Value ratio is 0.76, earning the stock a GF Value rank of 9.
Mastercard Inc
The guru established a new position worth 17,600 shares in NYSE:MA, giving the stock a 2.18% weight in the equity portfolio. Shares traded for an average price of $331.5 during the quarter.
On 11/14/2022, Mastercard Inc traded for a price of $342.01 per share and a market cap of $327.31Bil. The stock has returned -5.81% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Mastercard Inc has a price-earnings ratio of 34.01, a price-book ratio of 51.50, a price-earnings-to-growth (PEG) ratio of 2.33, a EV-to-Ebitda ratio of 26.34 and a price-sales ratio of 15.37.
The price-to-GF Value ratio is 0.73, earning the stock a GF Value rank of 10.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
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