Top 5 3rd Quarter Trades of TIG Advisors, LLC

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Nov 15, 2022
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TIG Advisors, LLC 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.

TIG Advisors, LLC is a hedge fund sponsor based out of New York City, New York. The company was originally established in 2006 by founder Carl Hans Tiedemann, who no longer has an active role in the company, and is currently headed by his son Michael Glenn Tiedemann. TIG Advisors has expanded from its inception to now have an additional location in Beverly Hills, California. The company conducts its research both internally and externally and utilizes a fundamental methodology to make its investment decisions. TIG Advisors invests in the public equity and fixed income markets on a global scale, allocating its assets across a variety of sectors. The company invests most heavily in the information technology sector, which alone makes up over a third of its total asset allocations, and also invests in the health care, consumer discretionary, industrials, consumer staples, energy, and finance sectors, among other sectors to a lesser degree, in order of decreasing allocation. TIG Advisors holds its allocations an average of 1.58 quarters with its top 10 holdings being kept for only 0.8 quarters. The company, in the most recent quarter, had a turnover rate of approximately 108.9%. TIG Advisors currently operates with 37 employees of which 19 are investment professionals. The company manages over $4.2 billion in total assets under management spread across 21 total accounts, all of which are discretionary accounts. Although the company’s total number of accounts has been relatively volatile in recent years, its total assets under management has been decreasing despite slight volatility, growing from $1.7 billion back in 2010 to well over twice that amount today. TIG Advisors mainly caters to pooled investment vehicles, which makes up two thirds of the company’s clientele both in terms of accounts and managed assets, and also provides services to corporations, which makes up the remainder of its clientele.

As of the latest 13F report, the guru’s equity portfolio contained 167 stocks valued at a total of $2.75Bil. The top holdings were ZEN(9.52%), ATVI(8.73%), and CTXS(8.42%).

According to GuruFocus data, these were TIG Advisors, LLC’s top five trades of the quarter.

Zendesk Inc


During the quarter, TIG Advisors, LLC bought 1,508,165 shares of NYSE:ZEN for a total holding of 3,438,087. The trade had a 4.18% impact on the equity portfolio. During the quarter, the stock traded for an average price of $75.89.

On 11/15/2022, Zendesk Inc traded for a price of $76.57 per share and a market cap of $9.51Bil. The stock has returned -26.25% over the past year.

GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 3 out of 10.

In terms of valuation, Zendesk Inc has a price-book ratio of 27.35, a EV-to-Ebitda ratio of -44.98 and a price-sales ratio of 5.91.

The price-to-GF Value ratio is 0.52, earning the stock a GF Value rank of 4.

SailPoint Technologies Holdings Inc


The guru sold out of their 1,345,465-share investment in NYSE:SAIL. Previously, the stock had a 3.49% weight in the equity portfolio. Shares traded for an average price of $63.81 during the quarter.

On 11/15/2022, SailPoint Technologies Holdings Inc traded for a price of $65.24 per share and a market cap of $6.19Bil. The stock has returned 49.80% over the past year.

GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 5 out of 10.

In terms of valuation, SailPoint Technologies Holdings Inc has a price-book ratio of 16.18, a EV-to-Ebitda ratio of -99.51 and a price-sales ratio of 12.34.

The price-to-GF Value ratio is 1.12, earning the stock a GF Value rank of 3.

Avalara Inc


The guru established a new position worth 954,221 shares in NYSE:AVLR, giving the stock a 3.19% weight in the equity portfolio. Shares traded for an average price of $89.61 during the quarter.

On 11/15/2022, Avalara Inc traded for a price of $93.48 per share and a market cap of $8.28Bil. The stock has returned -47.40% over the past year.

GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 3 out of 10.

In terms of valuation, Avalara Inc has a price-book ratio of 8.03, a EV-to-Ebitda ratio of -67.76 and a price-sales ratio of 10.33.

The price-to-GF Value ratio is 0.51, earning the stock a GF Value rank of 4.

Twitter Inc


During the quarter, TIG Advisors, LLC bought 1,647,552 shares of NYSE:TWTR for a total holding of 1,928,410. The trade had a 2.63% impact on the equity portfolio. During the quarter, the stock traded for an average price of $40.71.

On 11/15/2022, Twitter Inc traded for a price of $53.7 per share and a market cap of $41.09Bil. The stock has returned -2.03% over the past year.

GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 4 out of 10.

In terms of valuation, Twitter Inc has a price-book ratio of 6.98, a EV-to-Ebitda ratio of 66.62 and a price-sales ratio of 8.22.

The price-to-GF Value ratio is 0.94, earning the stock a GF Value rank of 6.

Atlas Air Worldwide Holdings Inc


The guru established a new position worth 739,153 shares in NAS:AAWW, giving the stock a 2.57% weight in the equity portfolio. Shares traded for an average price of $88.2 during the quarter.

On 11/15/2022, Atlas Air Worldwide Holdings Inc traded for a price of $100.38 per share and a market cap of $2.85Bil. The stock has returned 17.23% over the past year.

GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 8 out of 10.

In terms of valuation, Atlas Air Worldwide Holdings Inc has a price-earnings ratio of 8.11, a price-book ratio of 0.97, a EV-to-Ebitda ratio of 4.73 and a price-sales ratio of 0.75.

The price-to-GF Value ratio is 1.40, earning the stock a GF Value rank of 1.


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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