Tiger Management Corp., also known as "The Tiger Fund," is the hedge fund founded by Guru Julian Robertson. He is a stockbroker and former United States Navy officer and started Tiger Management in 1980 with $8 million in capital. By 1996, the fund’s assets had increased to $7.2 billion in value. After closing his fund in 2000, Robertson kept his hand in the hedge fund business by supporting and financing upcoming hedge fund managers (38 in total as of September 2009), in return for a stake in their fund management companies.
The portfolio is composed of 58 stocks and has a total value of $597 million with 21% Q/Q Turnover. During first quarter of 2015 he bought 16 new stocks and the following ones are the trades with the most weighted impact on his portfolio.
He reduced by 56.64% his stake in Gilead Sciences Inc (GILD) with an impact of 5.61% on his portfolio. After this sale he holds 231,511 shares of the company that represent the 0.02% of GILD’s outstanding shares or 3.81% of his total assets.
The company is a research-based biopharmaceutical company that discovers, develops and commercializes new medicines for different medical sectors.
During the last 12 months the price of the stock rose by 44%;is now trading with a P/E (ttm) ratio of 12.80 and according to the DCF model looks undervalued by 13%.
He bought 72,500 shares of Actavis PLC (ACT) with an impact of 3.62% on his portfolio. ACT is an integrated specialty pharmaceutical company engaged in development, manufacturing, marketing, sale and distribution of generic, branded generic, brand name, biosimilar and over-the-counter pharmaceutical products.
After this buy the price of the stock rose by5%. The company is trading with a forward P/E of 13.87 (-6.00% from its 52-week high and +49.72% from its 52-week low). It has negative returns (ROE -7.55% and ROA -3.81%) but looks heavily overpriced according to the Peter Lynch earnings line that gives a fair value of $9.2 while the price of the stock is now $304.
The investor now holds 0.02% of outstanding shares of the company and ACT now comprises 3.62% of his total assets.
He bought 264,000 shares of Cheniere Energy Inc (LNG) with an impact of 3.42% on his portfolio. The company owns and operates the Sabine Pass LNG terminal in Louisiana through its ownership interest in and management agreements with Cheniere Energy Partners, L.P.
After this buy the price of the stock dropped by 5%. The company is trading with a very high P/S of 59.70 (-16.54% from its 52-week high and +22.10% from its 52-week low) and has negative returns (ROE -147.29% and ROA -5.92%).
The investor now holds 0.11% of outstanding shares of the company, and LNG now comprises 3.42% of his total assets.
He bought 517,000 shares of Blackstone Group LP (BX) with an impact of 3.37% on his portfolio. BX is an alternative asset manager and a provider of financial advisory services. It is managed and operated by its general partner, Blackstone Group Management L.L.C.
After this buy the price of the stock rose by 14%. The company is trading with a P/E (ttm) of 13.30 (-5.69% from its 52-week high and +57.76% from its 52-week low). It has positive returns (ROE 17.66% and ROA 6.30) but looks undervalued by 10% according to the DCF model.
The investor now holds 0.04% of outstanding shares of the company and BX now comprises 3.37% of his total assets.
He bought 161,6000 shares of Alnylam Pharmaceuticals Inc (ALNY) with an impact of 2.83% on his portfolio. ALNY which is a biopharmaceutical company developing novel therapeutics based on RNA interference, or RNAi.
After this buy the price of the stock rose by 28%. The company is trading with a forward P/E of 23.64 (-2.98% from its 52-week high and +150.28% from its 52-week low) and has negative returns such as a ROE -15.31% and ROA -13.79%.
The investor now holds 0.19% of outstanding shares of the company and ALNY now comprises 2.83% of his total assets.
He bought 427,893 shares of JD.com Inc (JD) with an impact of 2.11% on his portfolio. JD which is an online direct sales company in China. It provides consumers an online retail experience.
After this buy the price of the stock rose by 35%. The company is trading with a very high forward P/E of 106.38 (-2.24% from its 52-week high and +66.35% from its 52-week low) and has negative returns (ROE -6.34% and ROA -3.57%).
The investor now holds 0.03% of outstanding shares of the company and JD now comprises 2.11% of his total assets.
He increased by 11.50% his stake in Alibaba Group Holding Ltd (BABA) with an impact of 0.92% on his portfolio. After this add he holds 636,878 shares of the company that represent the 0.03% of BABA’s outstanding shares or 8.88% of his total assets.
The company is a holding company and conducts its businesses through its subsidiaries. It also provides retail and wholesale marketplaces available through both personal computer and mobile interfaces in the PRC and internationally.
During the last 12 months the price of the stock declined by 6%; is now trading with a P/E(ttm) ratio of 50.20 and according to the DCF model looks overpriced by 279%.
He increased by 62.41% his stake in Fidelity National Financial Inc (FNF) with an impact of 0.44% on his portfolio. After this add he holds 488,208 shares of the company that represent the 0.14% of FNF’s outstanding shares or 1.15% of his total assets.
The company is a provider of title insurance, technology and transaction services to the real estate and mortgage industries.
During the last 12 months the price of the stock rose by 16%; is now trading with a P/E (ttm) ratio of 25.30 and according to the DCF model looks undervalued by 29%.
He bought 96,000 shares of Masco Corp (MAS) with an impact of 0.43% on his portfolio. The company manufactures, distributes and installs home improvement and building products, with emphasis on brand name consumer products and services holding positions in their markets.
After this buy the price of the stock rose by 5%. The company is trading with a P/E (ttm) of 11.50 (-3.11% from its 52-week high and +36.39% from its 52-week low). It has positive returns (ROE 103.47% and ROA 11.71%) but looks undervalued by 23% according to the DCF model.
The investor now holds 0.03% of outstanding shares of the company and MAS now comprises 0.43% of his total assets.
He bought 85,200 shares of Equity Commonwealth (EQC) with an impact of 0.38% on his portfolio. The company’s business is the ownership and operation of office buildings located in the United States and Australia.
After this buy the price of the stock dropped by 2%. The company is trading with a forward P/E of 21.37 (-9.41% from its 52-week high and +8.74% from its 52-week low) and has almost null returns (ROE 0.51% and ROA 0.28%).
The investor now holds 0.07% of outstanding shares of the company and EQC now comprises 0.38% of his total assets.
He bought 98,200 shares of Xenia Hotels & Resorts Inc (XHR) with an impact of 0.37% on his portfolio. The company owns a diversified portfolio of high quality lodging properties operated by industry leaders such as Marriott, Hilton, Hyatt, Starwood, Kimpton, Aston, Fairmont and Loews, as well as leading independent management companies. It also owns 46 hotels including premium full service, lifestyle and urban upscale hotels, and a majority interest in two hotels under development.
After this buy the price of the stock rose by 5%. The company is trading with a P/B of 1.5 (-6.35% from its 52-week high and +12.82% from its 52-week low). It has almost null returns (ROE -0.92% and ROA -0.50%) and looks over priced by 1182% according to the DCF model.
The investor now holds 0.09% of outstanding shares of the company and XHR now comprises 0.37% of his total assets.
He bought 46,500 shares of CDK Global Inc (CDK) with an impact of 0.36% on his portfolio. The company provides integrated technology solutions to over 26,500 Auto, Truck, Motorcycle, Marine, Recreational Vehicle and Heavy Equipment dealers throughout North America, Europe, the Middle East, Africa, Asia Pacific and South America.
After this buy the price of the stock rose by 16%. The company is trading with a P/E (ttm) of 62.80 (-4.33% from its 52-week high and +111.24% from its 52-week low). It has positive returns (ROE 16.30% and ROA 7.43%) but looks overpriced by 321% according to the DCF model.
The investor now holds 0.03% of outstanding shares of the company and CDK now comprises 0.36% of his total assets.
