Tiger Management’s stock portfolio fell from $769 million last quarter to $653 million as of their third quarter filing on November 14, and they closed or reduced many more positions than they added over the last few months.
Tiger Management reduced positions
The biggest changes that Tiger Management made were to Market Vectors ETF, dropping from 1 million shares to 212,925 now worth $8.7 million; reducing Kinder Morgan Inc (NYSE:KMI) from 3.7 million share to 2.5 million, now worth $12.2 million; reducing Sirius XM Radio Inc (NASDAQ:SIRI) from 7 million to 5 million shares now worth $20.6 million; and cutting its position in WuXi PharmaTech (Cayman) Inc. (ADR) (NYSE:WX) from 891,618 to 576,218 shares now worth $15.8 million. The only big increase was in Royal Caribbean Cruises Ltd. (NYSE:RCL) which went from 539,000 to 913,700 shares for a stake worth $23.3 million.
Dan Loeb's Third Point returned 11% in its flagship Offshore Fund and 13.2% in its Ultra Fund for the first quarter. For April, the Offshore Fund was up 1.7%, while the Ultra Fund gained 2.3%. The S&P 500 was up 6.2% for the first quarter, while the MSCI World Index gained 5%. Q1 2021 hedge Read More
Tiger Managements closed positions
Tiger Management closed 13 positions last quarter: Capital One Financial Corp. (NYSE:COF) (260,000 shares worth $16 million as of the Q2 filing), Charter Communications, Inc. (NASDAQ:CHTR) (183,700 shares worth $22.7 million), Citigroup Inc (NYSE:C) (383,300 shares worth $18.4 million), DaVita HealthCare Partners Inc (NYSE:DVA) (120,900 shares worth $14.6 million), Dollar General Corp. (NYSE:DG) New (272,400 shares worth $13.7 million), Dollar Tree, Inc. (NASDAQ:DLTR) (280,063 shares worth $14.2 million), Dunkin Brands Group Inc (NASDAQ:DNKN) (395,000 shares worth $16.9 million), Monsanto Company (NYSE:MON) New (211,300 shares worth $20.9 million), Navistar International Corp (NYSE:NAV) (701,917 shares worth $19.5 million), Newcastle Investment Corp. (NYSE:NCT) (3.6 million shares worth $19.2 million), Realogy Holdings Corp (NYSE:RLGY) (424,500 shares worth $20.4 million), Ryman Hospitality Properties Inc (NYSE:GET) (535,541 shares worth $20.9 million), URS Corp (NYSE:URS) (312,274 shares worth $14.7 million).
Tiger Management new positions
In contrast Tiger Management only opened eleven new positions: Allegiant Travel Company (NASDAQ:ALGT) (181,635 shares worth $19 million as of the third quarter filing), E TRADE Financial Corporation (NASDAQ:ETFC) (1.3 million shares worth $21.8 million), eBay Inc (NASDAQ:EBAY) (421,700 shares worth $23.5 million), The Gap Inc. (NYSE:GPS) (248,000 shares worth $10 million), Goldman Sachs Group Inc (NYSE:GS) (15,350 shares worth $2.4 million), Hornbeck Offshore Services, Inc. (NYSE:HOS) (175,000 shares worth $10 million), Pitney Bowes Inc. (NYSE:PBI) (613,800 shares worth $11 million), Post Holdings Inc (NYSE:POST) (519,100 shares worth $21 million), Time Warner Inc (NYSE:TWX) (323,000 shares worth $21.3 million), Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA) (168,300 shares worth $20 million), United Online, Inc. (NASDAQ:UNTD) (1 million shares worth $8.6 million).