Julian Robertson’s Top Picks: AIG, HCA, JPM, ABX, OCN, SEAC
Tiger Management’s founder, Julian Robertson, is considered a guru when it comes to hedge funds, and Tiger’s success is a large part of this. He has mentored several successful hedge fund managers, including John Griffin of Blue Ridge Capital, Lee Ainslie of Maverick Capital, Andreas Halvorsen of Viking Global, and Steve Mandel of Lone pine Capital.
Robertson has made some surprising choices this quarter, and here is a recap of his picks.
Charlie Munger: Invert And Use “Disconfirming Evidence”
Charlie Munger is considered to be one of the best investors and thinkers alive today. His thoughts and statements on investment research, investment psychology, and general rational behavior are often incredibly insightful. Anyone can learn something from this billionaire investor and philosopher. Q2 2020 hedge fund letters, conferences and more If you’re looking for value Read More
The Top 5 Positions:
1. Apple Inc. (NASDAQ:AAPL), in which he holds 100,930 shares, a total of 16.4% of his portfolio. He increased his shares by 13.8%
2. Mastercard Inc (NYSE:MA), in which he has 50,694 shares, or 6.1% of his portfolio. He reduced holdings by 4.34%
3. Liberty Global Inc. (NASDAQ:LBTYA), where he holds 407,595 shares, equivalent to 5.6% of his portfolio.
4. QUALCOMM, Inc. (NASDAQ:QCOM), where he retains 341,030 shares, or 5.3% of his portfolio. He increased holdings by 57.86%.
5. Google Inc (NASDAQ:GOOG), where he holds 31,542 or 5.1% of his portfolio.
Julian Roberts purchased shares in American International Group, Inc. (NYSE:AIG), at an estimated average price of $31.13 per share. This accounts for 4.7% of his portfolio, and amounts to 523,000 shares.
Share holdings were also initiated in HCA Holdings Inc (NYSE:HCA), at an estimated average purchase price of $26.45 per share. This accounts for 4.4% of his portfolio, and a total of 522,400 shares.
JPMorgan Chase & Co. (NYSE:JPM) was another new investment for Robertson, as he purchased shares for an average estimated price of $38.39 per share. This amounts to 3.8% of the portfolio, and a total of 382,000 shares.
Barrick Gold Corporation (USA) (NYSE:ABX) made Robertson’s list of new holdings as well, with Robertson purchasing shares at an estimated average price of $39.42. This makes up 2.8% of his portfolio, and he holds 263,000 shares.
Ocwen Financial Corporation (NYSE:OCN) is yet one more of Julian’s picks to initiate holdings with this quarter, as he purchased shares at an average estimated price of $15.85. This purchase is 2.4% of his portfolio, and he holds 454,591 shares.
SeaChange International (NASDAQ:SEAC) finishes the list of new purchases, with Robertson purchasing shares for an average estimated price of $8.14 per share. This accounts for 1.9% of his portfolio, and he holds 842,000 shares in the company.
Julian Robertson sold out on several of his positions this quarter and the list is an interesting one. It includes PNC Financial Services (NYSE:PNC), sold at an est average price of $62.20, Wells Fargo & Company (NYSE:WFC), sold at an average est price of $32.57, Starbucks Corporation (NASDAQ:SBUX), sold at an average est price of $55.52, Netflix, Inc. (NASDAQ:NFLX) sold at an average est price of $79.97, and SanDisk Corporation (NASDAQ:SNDK), which was sold at an average est price of $37 per share.
Robertson increased holdings in the following companies:
Sirius XM Radio Inc (NASDAQ:SIRI), where he increased 4975%, to a share holding of 5,075,000
Apple Inc. (NASDAQ:AAPL) , increased by 13.8%, where he now holds 100,930 shares.
Qualcomm, Inc. (NASDAQ:QCOM), in which he increased holdings 57.86%, to a total of 341,030 shares.
Holdings were reduced in Goldman Sachs Group, Inc. (NYSE:GS) and Sherwin-Williams Company (NYSE:SHW), by 63.27% and 377.74% respectively.