Blue Ridge Capital Buys Allegion; Dumps Tesla Motors Inc

General ElectricBy General Electric Company (w:File:General_Electric_logo.svg) [Public domain], via Wikimedia Commons

Blue Ridge Capital, the hedge fund founded and managed by John Griffin, one of the “Tiger Cubs” or protégés of legendary investor Julian Robertson, disclosed that its equity portfolio has a market value of more than $9 billion based on its 13F filing with the Securities and Exchange Commission (SEC) for the first quarter of fiscal 2014.

Blue Ridge Capital top three stock holdings

Blue Ridge Capital’s largest stock holding is Endo International PLC (NASDAQ:ENDP), with 8 million shares worth $549.2 million and accounting for 6.07% of its portfolio.

Endo International is a specialty healthcare solutions company that focuses in branded and generic pharmaceuticals, devices and services. The company was formerly known as Endo Health Solutions.

The hedge fund’s second largest stock holding is Colfax Corp (NYSE:CFX), a global engineering and manufacturing company. Blue Ridge Capital owns 5.370,000 shares in the company worth $383.042 million.

Blue Ridge’s third largest stock holding is Priceline Group Inc (NASDAQ:PCLN), with 301,000 shares worth $358.759 million.

Blue Ridge Capital new acquisitions

During the quarter, Blue Ridge Capital acquired 4,420,000 shares of Allegion PLC (NYSE:ALLE), a provider of security products and solutions globally. Its stake in the company has a market value of $230.591 million. Earlier this month, Zacks Equity Research initiated coverage on the stock with a Hold rating. Analysts at Credit Agricole recommended a Buy rating with a price target of $60 per share on the stock in a research note to investors April 17.

The hedge fund also acquired 3,435,000 shares of Walgreen Company (NYSE:WAG) worth $226.813 million, 8 million shares of Platform Specialty Products Corp (LON:PAH) worth $152.4 million and 2,580,000 shares of Liberty Global plc – Class C Ordinary Shares (NASDAQ:LBTYK) worth $105.032 million.

In addition, Blue Ridge Capital also purchased 1 million shares of Myriad Genetics, Inc. (NASDAQ:MYGN) worth $34.19 million, Nu Skin Enterprises, Inc. (NYSE:NUS) 275,000 shares worth $22.784 million, Castlight Health Inc (NYSE:CSLT) 250,000 shares worth $5.305 million and 150,000 shares of, Inc (NYSE:COUP) worth $3.698 million. The hedge fund also purchased 676,600 shares of Endo International PLC (NASDAQ:ENDP) Call options worth $46.449 million.

Blue Ridge Capital increased positions

Blue Ridge Capital purchased additional 1,910,000 shares of Coach Inc (NYSE:COH), bringing its stake in the luxury brand retailer to 4,330,000 shares with a market value of $215.028 million.

The hedge fund also boosted its stake in Actavis plc (NYSE:ACT) by 425,000 shares to 1,735,000 shares worth $357.15 million—its fourth largest stock holding. It also acquired additional 275,000 shares of  Post Holdings Inc (NYSE:POST), bringing its stake to total of 1,205,000 shares with a market value of $66.42 million.

Blue Ridge Capital sold out positions

During the quarter, Blue Ridge Capital sold all of its shares in Time Warner Inc. (NYSE:TWC), Tesla Motors Inc (NASDAQ:TSLA), Twenty-First Century Fox Inc (NASDAQ:FOXA) and Dollar Tree, Inc. (NASDAQ:DLTR), among others.

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About the Author

Marie Cabural
Marie received her Bachelors Degree in Mass Communication from New Era University. She is a former news writer and program producer for Nation Broadcasting Corporation (NBC-DZAR 1026), a nationwide AM radio station. She was also involved in events management. Marie was also a former Young Ambassador of Goodwill during the 26th Ship for Southeast Asian Youth Program (SSEAYP). She loves to read, travel and take photographs. She considers gardening a therapy.

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