Legendary hedge fund manager Julian Robertson might be bearish with stocks now. He made a lot more sells than buys during the third quarter. Julian Robertson must have some hard feelings about bull market, as he underperformed badly during the go-go years of late 1990s and shut down his hedge fund right at the peak of the market in 2000.
He sold out a lot of positions in his portfolio. As of 09/30/2013, Tiger Management owns 43 stocks with a total value of $653 million. These are the details of the buys and sells.
This is the sector weightings of his portfolio:
These are the top 5 holdings of Julian Robertson
1. DigitalGlobe Inc (DGI) - 769,500 shares, 3.7% of the total portfolio.
2. Royal Caribbean Cruises, Ltd. (RCL) - 913,700 shares, 3.6% of the total portfolio. Shares added by 69.52%
3. eBay Inc (EBAY) - 421,700 shares, 3.6% of the total portfolio. New Position
4. Google, Inc. (GOOG) - 25,440 shares, 3.4% of the total portfolio. Shares reduced by 4.14%
5. Moody's Corporation (MCO) - 304,000 shares, 3.3% of the total portfolio. Shares added by 146.95%
New Purchase: eBay Inc (EBAY, Financial)
Julian Robertson initiated holdings in eBay Inc. His purchase prices were between $49.99 and $57.38, with an estimated average price of $53.26. The impact to his portfolio due to this purchase was 3.6%. His holdings were 421,700 shares as of 09/30/2013.
New Purchase: E*Trade Financial Corp (ETFC, Financial)
Julian Robertson initiated holdings in E*Trade Financial Corp. His purchase prices were between $12.86 and $17.48, with an estimated average price of $14.92. The impact to his portfolio due to this purchase was 3.3%. His holdings were 1,318,700 shares as of 09/30/2013.
New Purchase: Time Warner Inc (TWX, Financial)
Julian Robertson initiated holdings in Time Warner Inc. His purchase prices were between $59.52 and $66.2, with an estimated average price of $62.39. The impact to his portfolio due to this purchase was 3.3%. His holdings were 323,000 shares as of 09/30/2013.
New Purchase: Post Holdings Inc (POST, Financial)
Julian Robertson initiated holdings in Post Holdings Inc. His purchase prices were between $41.13 and $49.14, with an estimated average price of $44.68. The impact to his portfolio due to this purchase was 3.2%. His holdings were 519,100 shares as of 09/30/2013.
New Purchase: Ulta Salon Cosmetics & Fragrances, Inc. (ULTA, Financial)
Julian Robertson initiated holdings in Ulta Salon Cosmetics & Fragrances, Inc.. His purchase prices were between $94.06 and $119.99, with an estimated average price of $103.5. The impact to his portfolio due to this purchase was 3.1%. His holdings were 168,300 shares as of 09/30/2013.
New Purchase: Delta Air Lines Inc (DAL, Financial)
Julian Robertson initiated holdings in Delta Air Lines Inc. His purchase prices were between $18.41 and $24.01, with an estimated average price of $20.82. The impact to his portfolio due to this purchase was 3.1%. His holdings were 863,000 shares as of 09/30/2013.
New Purchase: Allegiant Travel Company, LLC. (ALGT, Financial)
Julian Robertson initiated holdings in Allegiant Travel Company, LLC.. His purchase prices were between $92.89 and $107.47, with an estimated average price of $98.51. The impact to his portfolio due to this purchase was 2.9%. His holdings were 181,635 shares as of 09/30/2013.
New Purchase: Pitney Bowes Inc (PBI, Financial)
Julian Robertson initiated holdings in Pitney Bowes Inc. His purchase prices were between $13.92 and $18.5, with an estimated average price of $16.4. The impact to his portfolio due to this purchase was 1.7%. His holdings were 613,800 shares as of 09/30/2013.
New Purchase: Hornbeck Offshore Services, Inc. (HOS, Financial)
Julian Robertson initiated holdings in Hornbeck Offshore Services, Inc.. His purchase prices were between $52.95 and $58.99, with an estimated average price of $56.5. The impact to his portfolio due to this purchase was 1.5%. His holdings were 175,000 shares as of 09/30/2013.
New Purchase: Gap, Inc. (GPS, Financial)
Julian Robertson initiated holdings in Gap, Inc.. His purchase prices were between $40.39 and $46.48, with an estimated average price of $43.18. The impact to his portfolio due to this purchase was 1.5%. His holdings were 248,000 shares as of 09/30/2013.
New Purchase: United Online, Inc. (UNTD, Financial)
Julian Robertson initiated holdings in United Online, Inc.. His purchase prices were between $10.184 and $11.526, with an estimated average price of $10.57. The impact to his portfolio due to this purchase was 1.3%. His holdings were 1,077,300 shares as of 09/30/2013.
Sold Out: Charter Communications Inc (CHTR)
Julian Robertson sold out his holdings in Charter Communications Inc. His sale prices were between $120 and $135.99, with an estimated average price of $126.84.
Sold Out: Ryman Hospitality Properties Inc (RHP)
Julian Robertson sold out his holdings in Ryman Hospitality Properties Inc. His sale prices were between $33.04 and $38.37, with an estimated average price of $35.66.
Sold Out: Monsanto Company (MON)
Julian Robertson sold out his holdings in Monsanto Company. His sale prices were between $94.81 and $107.28, with an estimated average price of $100.47.
Sold Out: Realogy Holdings Corp (RLGY)
Julian Robertson sold out his holdings in Realogy Holdings Corp. His sale prices were between $41.66 and $50.8, with an estimated average price of $45.21.
Sold Out: Navistar International Corp (NAV)
Julian Robertson sold out his holdings in Navistar International Corp. His sale prices were between $27.47 and $39.71, with an estimated average price of $34.08.
Sold Out: Toyota Motor Corp (TM)
Julian Robertson sold out his holdings in Toyota Motor Corp. His sale prices were between $120.25 and $134.33, with an estimated average price of $127.33.
Sold Out: Newcastle Investment Corporation (NCT)
Julian Robertson sold out his holdings in Newcastle Investment Corporation. His sale prices were between $5.11 and $5.92, with an estimated average price of $5.61.
Sold Out: Citigroup Inc (C)
Julian Robertson sold out his holdings in Citigroup Inc. His sale prices were between $47.67 and $53, with an estimated average price of $50.63.
Sold Out: Liberty Global PLC (LBTYA)
Julian Robertson sold out his holdings in Liberty Global PLC. His sale prices were between $74.84 and $81.41, with an estimated average price of $78.4.
Sold Out: Dunkin Brands Group Inc (DNKN)
Julian Robertson sold out his holdings in Dunkin Brands Group Inc. His sale prices were between $41.27 and $46.21, with an estimated average price of $43.83.
Sold Out: Capital One Financial Corp (COF)
Julian Robertson sold out his holdings in Capital One Financial Corp. His sale prices were between $63.92 and $69.7, with an estimated average price of $67.32.
Sold Out: URS Corporation (URS)
Julian Robertson sold out his holdings in URS Corporation. His sale prices were between $45.73 and $55.49, with an estimated average price of $49.55.
Sold Out: DaVita HealthCare Partners Inc (DVA)
Julian Robertson sold out his holdings in DaVita HealthCare Partners Inc. His sale prices were between $53.755 and $60.615, with an estimated average price of $57.24.
Sold Out: Dollar Tree Stores, Inc. (DLTR)
Julian Robertson sold out his holdings in Dollar Tree Stores, Inc.. His sale prices were between $50.45 and $58.489, with an estimated average price of $53.98.
Sold Out: Dollar General Corporation (DG)
Julian Robertson sold out his holdings in Dollar General Corporation. His sale prices were between $51.11 and $58.49, with an estimated average price of $54.97.
Sold Out: American International Group Inc (AIG)
Julian Robertson sold out his holdings in American International Group Inc. His sale prices were between $44.22 and $50.57, with an estimated average price of $47.55.
He sold out a lot of positions in his portfolio. As of 09/30/2013, Tiger Management owns 43 stocks with a total value of $653 million. These are the details of the buys and sells.
- New Purchases: EBAY, TWX, ETFC, POST, ULTA, DAL, ALGT, PBI, HOS, GPS, UNTD,
- Added Positions: MCO, RCL, MHFI,
- Reduced Positions: VRX, GDXJ, QCOM, XPO, GILD, WDAY, WX, OCN, SIRI, PCLN, MA, VRSN, FLT, CBI, DISH, HHC, V, MIC, JPM, HRB, HTZ, GOOG,
- Sold Out: CHTR, RHP, MON, RLGY, NAV, NCT, TM, C, LBTYA, COF, DNKN, DVA, URS, DLTR, DG, AIG,
This is the sector weightings of his portfolio:
| Consumer Cyclical | 27.3% |
| Industrials | 20.1% |
| Financial Services | 16.9% |
| Technology | 12.8% |
| Healthcare | 7.3% |
| Communication Services | 3.8% |
| Consumer Defensive | 3.2% |
| Real Estate | 3.1% |
| Energy | 2.3% |
These are the top 5 holdings of Julian Robertson
1. DigitalGlobe Inc (DGI) - 769,500 shares, 3.7% of the total portfolio.
2. Royal Caribbean Cruises, Ltd. (RCL) - 913,700 shares, 3.6% of the total portfolio. Shares added by 69.52%
3. eBay Inc (EBAY) - 421,700 shares, 3.6% of the total portfolio. New Position
4. Google, Inc. (GOOG) - 25,440 shares, 3.4% of the total portfolio. Shares reduced by 4.14%
5. Moody's Corporation (MCO) - 304,000 shares, 3.3% of the total portfolio. Shares added by 146.95%
New Purchase: eBay Inc (EBAY, Financial)
Julian Robertson initiated holdings in eBay Inc. His purchase prices were between $49.99 and $57.38, with an estimated average price of $53.26. The impact to his portfolio due to this purchase was 3.6%. His holdings were 421,700 shares as of 09/30/2013.
New Purchase: E*Trade Financial Corp (ETFC, Financial)
Julian Robertson initiated holdings in E*Trade Financial Corp. His purchase prices were between $12.86 and $17.48, with an estimated average price of $14.92. The impact to his portfolio due to this purchase was 3.3%. His holdings were 1,318,700 shares as of 09/30/2013.
New Purchase: Time Warner Inc (TWX, Financial)
Julian Robertson initiated holdings in Time Warner Inc. His purchase prices were between $59.52 and $66.2, with an estimated average price of $62.39. The impact to his portfolio due to this purchase was 3.3%. His holdings were 323,000 shares as of 09/30/2013.
New Purchase: Post Holdings Inc (POST, Financial)
Julian Robertson initiated holdings in Post Holdings Inc. His purchase prices were between $41.13 and $49.14, with an estimated average price of $44.68. The impact to his portfolio due to this purchase was 3.2%. His holdings were 519,100 shares as of 09/30/2013.
New Purchase: Ulta Salon Cosmetics & Fragrances, Inc. (ULTA, Financial)
Julian Robertson initiated holdings in Ulta Salon Cosmetics & Fragrances, Inc.. His purchase prices were between $94.06 and $119.99, with an estimated average price of $103.5. The impact to his portfolio due to this purchase was 3.1%. His holdings were 168,300 shares as of 09/30/2013.
New Purchase: Delta Air Lines Inc (DAL, Financial)
Julian Robertson initiated holdings in Delta Air Lines Inc. His purchase prices were between $18.41 and $24.01, with an estimated average price of $20.82. The impact to his portfolio due to this purchase was 3.1%. His holdings were 863,000 shares as of 09/30/2013.
New Purchase: Allegiant Travel Company, LLC. (ALGT, Financial)
Julian Robertson initiated holdings in Allegiant Travel Company, LLC.. His purchase prices were between $92.89 and $107.47, with an estimated average price of $98.51. The impact to his portfolio due to this purchase was 2.9%. His holdings were 181,635 shares as of 09/30/2013.
New Purchase: Pitney Bowes Inc (PBI, Financial)
Julian Robertson initiated holdings in Pitney Bowes Inc. His purchase prices were between $13.92 and $18.5, with an estimated average price of $16.4. The impact to his portfolio due to this purchase was 1.7%. His holdings were 613,800 shares as of 09/30/2013.
New Purchase: Hornbeck Offshore Services, Inc. (HOS, Financial)
Julian Robertson initiated holdings in Hornbeck Offshore Services, Inc.. His purchase prices were between $52.95 and $58.99, with an estimated average price of $56.5. The impact to his portfolio due to this purchase was 1.5%. His holdings were 175,000 shares as of 09/30/2013.
New Purchase: Gap, Inc. (GPS, Financial)
Julian Robertson initiated holdings in Gap, Inc.. His purchase prices were between $40.39 and $46.48, with an estimated average price of $43.18. The impact to his portfolio due to this purchase was 1.5%. His holdings were 248,000 shares as of 09/30/2013.
New Purchase: United Online, Inc. (UNTD, Financial)
Julian Robertson initiated holdings in United Online, Inc.. His purchase prices were between $10.184 and $11.526, with an estimated average price of $10.57. The impact to his portfolio due to this purchase was 1.3%. His holdings were 1,077,300 shares as of 09/30/2013.
Sold Out: Charter Communications Inc (CHTR)
Julian Robertson sold out his holdings in Charter Communications Inc. His sale prices were between $120 and $135.99, with an estimated average price of $126.84.
Sold Out: Ryman Hospitality Properties Inc (RHP)
Julian Robertson sold out his holdings in Ryman Hospitality Properties Inc. His sale prices were between $33.04 and $38.37, with an estimated average price of $35.66.
Sold Out: Monsanto Company (MON)
Julian Robertson sold out his holdings in Monsanto Company. His sale prices were between $94.81 and $107.28, with an estimated average price of $100.47.
Sold Out: Realogy Holdings Corp (RLGY)
Julian Robertson sold out his holdings in Realogy Holdings Corp. His sale prices were between $41.66 and $50.8, with an estimated average price of $45.21.
Sold Out: Navistar International Corp (NAV)
Julian Robertson sold out his holdings in Navistar International Corp. His sale prices were between $27.47 and $39.71, with an estimated average price of $34.08.
Sold Out: Toyota Motor Corp (TM)
Julian Robertson sold out his holdings in Toyota Motor Corp. His sale prices were between $120.25 and $134.33, with an estimated average price of $127.33.
Sold Out: Newcastle Investment Corporation (NCT)
Julian Robertson sold out his holdings in Newcastle Investment Corporation. His sale prices were between $5.11 and $5.92, with an estimated average price of $5.61.
Sold Out: Citigroup Inc (C)
Julian Robertson sold out his holdings in Citigroup Inc. His sale prices were between $47.67 and $53, with an estimated average price of $50.63.
Sold Out: Liberty Global PLC (LBTYA)
Julian Robertson sold out his holdings in Liberty Global PLC. His sale prices were between $74.84 and $81.41, with an estimated average price of $78.4.
Sold Out: Dunkin Brands Group Inc (DNKN)
Julian Robertson sold out his holdings in Dunkin Brands Group Inc. His sale prices were between $41.27 and $46.21, with an estimated average price of $43.83.
Sold Out: Capital One Financial Corp (COF)
Julian Robertson sold out his holdings in Capital One Financial Corp. His sale prices were between $63.92 and $69.7, with an estimated average price of $67.32.
Sold Out: URS Corporation (URS)
Julian Robertson sold out his holdings in URS Corporation. His sale prices were between $45.73 and $55.49, with an estimated average price of $49.55.
Sold Out: DaVita HealthCare Partners Inc (DVA)
Julian Robertson sold out his holdings in DaVita HealthCare Partners Inc. His sale prices were between $53.755 and $60.615, with an estimated average price of $57.24.
Sold Out: Dollar Tree Stores, Inc. (DLTR)
Julian Robertson sold out his holdings in Dollar Tree Stores, Inc.. His sale prices were between $50.45 and $58.489, with an estimated average price of $53.98.
Sold Out: Dollar General Corporation (DG)
Julian Robertson sold out his holdings in Dollar General Corporation. His sale prices were between $51.11 and $58.49, with an estimated average price of $54.97.
Sold Out: American International Group Inc (AIG)
Julian Robertson sold out his holdings in American International Group Inc. His sale prices were between $44.22 and $50.57, with an estimated average price of $47.55.
