Julian Robertson

Julian Robertson

Last Update: 11-14-2017

Number of Stocks: 45
Number of New Stocks: 6

Total Value: $553 Mil
Q/Q Turnover: 16%

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

Tiger Capital Founder Invests in Telecom Company Ooma Julian Robertson adds to his technology holdings
Tiger Management founder Julian Robertson (Trades, Portfolio) established a holding in Ooma Inc. (NYSE:OOMA) on June 21, according to GuruFocus real-time picks. Read more...
Pandora CEO, 2 Other Officers Resign Analyst sees change as a sign the 'company doesn't have any direction'
Amid a fierce competitive environment due to the rise of subscription music platforms, Pandora Media Inc. (NYSE:P) announced on June 27 co-founder and CEO Tim Westergren is stepping down. Read more...
Julian Robertson Adds to Multiple Positions in 3rd quarter The guru boosted some of his top holdings
Julian Robertson (Trades, Portfolio) is considered the father of hedge funds. He founded Tiger Management in 1980 with $8 million. During the third quarter, the guru increased his position in the following stocks: Read more...
Review: Quantitative Momentum Review of book by portfolio manager and researcher Dr. Wesley Gray
Portfolio manager and researcher Dr. Wesley Gray is at it again, looking for ways to build that proverbial better mousetrap. I reviewed Gray’s previous book, Quantitative Value, which he co-wrote with Tobias Carlisle, and found it to be “solid piece of research that combines the successful value investing framework of Benjamin Graham and Warren Buffett with the analytical rigor seen in Jim O’Shaughnessy’s What Works on Wall Street and Joel Greenblatt’s The Little Book that Beats the Market.” Read more...
HollyFrontier Declares Quarterly Dividend Despite the refiner's recent downtrend, analysts see room for substantial upside in the share price
HollyFrontier Corp. (NYSE:HFC) annouced a regular quarterly dividend of 33 cents per share on Feb. 15. 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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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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Chase Coleman Adds to Apollo Global Stake The guru has consistently increased the position since March Chase Coleman, Julian Robertson, JIM SIMONS, CHUCK - Chase Coleman Adds To Apollo Global Stake
Tiger Global Management founder Chase Coleman (Trades, Portfolio) increased his Apollo Global Management LLC (NYSE:APO) stake by 0.76% on July 20. More...

COLEMAN, TIGER GLOBAL, ROBERTSON, BUY, ADD, FINANCIAL, APOLLO GLOBAL


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Tiger Capital Founder Invests in Telecom Company Ooma Julian Robertson adds to his technology holdings Julian Robertson,Jim Simons,Chuck Royce - Tiger Capital Founder Invests In Telecom Company Ooma
Tiger Management founder Julian Robertson (Trades, Portfolio) established a holding in Ooma Inc. (NYSE:OOMA) on June 21, according to GuruFocus real-time picks. More...

JULIAN ROBERTSON, TIGER CAPITAL, BUY, TELECOM, OOMA


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Pandora CEO, 2 Other Officers Resign Analyst sees change as a sign the 'company doesn't have any direction' Leon Cooperman,Julian Robertson,Steven Cohen,Jerem - Pandora CEO, 2 Other Officers Resign
Amid a fierce competitive environment due to the rise of subscription music platforms, Pandora Media Inc. (NYSE:P) announced on June 27 co-founder and CEO Tim Westergren is stepping down. More...

PANDORA, RADIO, MUSIC, CEO, RESIGN


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5 High-Yield Dividend Stocks to Own Investments for both income and long-term capital appreciation Julian Robertson,Joel Greenblatt - 5 High-Yield Dividend Stocks To Own
A high dividend is anything over 5%, especially in companies that in 20 years could be paying out much more of the earnings to shareholders. Interestingly enough, three of the vehicles are attached to private equity firms, an industry historically inaccessible to the average (even noninstitutional) investor. Here are five stocks that provide both income and long-term growth potential. More...

TELECOM, FINANCIAL SECTOR, VERIZON, AT&T, APPLEBEES, IHOP, CARLYLE, BLACKSTONE, APOLLO, PRIVATE EQUITY, FAST CASUAL, RESTAURANTS


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Julian Robertson Buys Adobe and Sells Apple in 1st Quarter Guru adds 3 positions and closes 3 others Julian Robertson,Daniel Loeb,John Griffin,Lee Ains - Julian Robertson Buys Adobe And Sells Apple In 1st Quarter
Julian Robertson (Trades, Portfolio), founder of Tiger Management, invests with long-short strategies. During the first quarter, the guru added positions in Adobe Systems Inc. (NASDAQ:ADBE), Boston Scientific Corp. (NYSE:BSX) and JPMorgan Chase & Co. (NYSE:JPM). On the sell side, Robertson divested his holdings in HollyFrontier Corp. (NYSE:HFC), Apple Inc. (NASDAQ:AAPL) and Shire PLC (NASDAQ:SHPG). More...

JULIAN ROBERTSON, DANIEL LOEB, JOHN GRIFFIN, LEE AINSLIE, ANDREAS HALVORSEN, STEVE MANDEL


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HollyFrontier Declares Quarterly Dividend Despite the refiner's recent downtrend, analysts see room for substantial upside in the share price Julian Robertson - HollyFrontier Declares Quarterly Dividend
HollyFrontier Corp. (NYSE:HFC) annouced a regular quarterly dividend of 33 cents per share on Feb. 15. More...

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Andreas Halvorsen Gains 4 Positions in 4th Quarter Guru takes stake in one of Warren Buffett’s major sells for the quarter Andreas Halvorsen,Julian Robertson,Warren Buffett, - Andreas Halvorsen Gains 4 Positions In 4th Quarter
Andreas Halvorsen (Trades, Portfolio), a former managing director of Julian Robertson (Trades, Portfolio)’s Tiger Management Fund, founded Viking Global Investors LP in 1999 and currently serves as the hedge fund’s chief investment officer. During fourth-quarter 2016, the guru gained a position in Deere & Co. (NYSE:DE), one of Warren Buffett (Trades, Portfolio)’s major sells for the quarter. Halvorsen also gained positions in Dow Chemical Co. (DOW), UnitedHealth More...

ANDREAS HALVORSEN, JULIAN ROBERTSON, WARREN BUFFETT, CHARLIE MUNGER


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Julian Robertson Adds to Multiple Positions in 3rd quarter The guru boosted some of his top holdings Julian Robertson - Julian Robertson Adds To Multiple Positions In 3rd Quarter
Julian Robertson (Trades, Portfolio) is considered the father of hedge funds. He founded Tiger Management in 1980 with $8 million. During the third quarter, the guru increased his position in the following stocks: More...

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Julian Robertson Sells Delta Air Lines, Alphabet The hedge fund guru's largest 3rd-quarter sales Julian Robertson,PRIMECAP Management,Warren Buffet - Julian Robertson Sells Delta Air Lines, Alphabet
Julian Robertson (Trades, Portfolio) is considered the father of the hedge fund. He launched his firm Tiger Management in 1980 with $8 million and turned it into over $22 billion in the late 1990s. During the third quarter the guru’s largest sells were the following: More...

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Review: Quantitative Momentum Review of book by portfolio manager and researcher Dr. Wesley Gray Warren Buffett,Julian Robertson - Review: Quantitative Momentum
Portfolio manager and researcher Dr. Wesley Gray is at it again, looking for ways to build that proverbial better mousetrap. I reviewed Gray’s previous book, Quantitative Value, which he co-wrote with Tobias Carlisle, and found it to be “solid piece of research that combines the successful value investing framework of Benjamin Graham and Warren Buffett with the analytical rigor seen in Jim O’Shaughnessy’s What Works on Wall Street and Joel Greenblatt’s The Little Book that Beats the Market.” More...

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Investor Anticipating Bubble Julian Robertson Buys 2 Stocks in 3rd Quarter Tiger Management pioneer reports portfolio Julian Robertson - Investor Anticipating Bubble Julian Robertson Buys 2 Stocks In 3rd Quarter
Billionaire and pioneer of the long-short hedging strategy Julian Robertson (Trades, Portfolio) closed two stock transactions in the third quarter, his most frugal in exactly five years as he feared a market bubble fueled by years of loose monetary policy would culminate in chaos and groused in the media about the hedge fund business. More...

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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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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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