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Tiger Management Likes Chinese Tech Stocks, Cheniere Energy And Actavis

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Tiger Management Likes Chinese Tech Stocks, Cheniere Energy And Actavis
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Julian Robertson's Tiger Management filed its latest 13F with the SEC on Friday. According to the document, in which the fund disclosed its long equity positions as of March 31, its equity portfolio is worth about $596 million in the market.

Over the first quarter of 2015, the fund made 17 new stock purchases, increased its exposure to another 15 stocks, trimmed its stake in 5 more, and sold out of 15 positions.

Increased Exposure

By the end of the first quarter, the fund’s largest wage was placed on Alibaba Group Holding Ltd (NYSE: BABA). Tiger Management declared an 11 percent increase in its stake in the company, to 636,878 Sponsored ADS, worth about $53 million –- which account for 8.88 percent of the equity portfolio’s total value.

Related Link: Dan Loeb's 13F Shows Alibaba Swapped For Yum! Brands

Cirrus Logic, Inc. (NASDAQ: CRUS) also felt Mr. Robertson’s bullishness, as his fund boosted its exposure to the stock by 78 percent over the quarter, to 46,500 shares of Common Stock, valued at $1.547 million.

New Positions

Actavis plc (NYSE: ACT) was the most valuable new position initiated over the quarter. The firm purchased 72,500 shares of the company, worth about $21.5 million.

Two other newcomers were Cheniere Energy, Inc. (NYSE: LNG) and JD.Com Inc (ADR) (NASDAQ: JD).

The energy company saw the fund buy 264,000 shares of Common Stock, valued at approximately $20.4 million. For its part, online retailer JD.Com witnessed the acquisition of 427,893 Class A shares, worth roughly $12.5 million.

Closed Out Stakes

Life Time Fitness, Inc. (NYSE: LTM) felt Tiger Management’s bearishness. The fund held about $1.67 million in stock (or 29,600 shares) by the end of the fourth quarter of 2014. By the end of the first quarter of 2015, it disclosed ownership of zero shares.

Similar were the cases of Tableau Software Inc (NYSE: DATA) and Ctrip.com International, Ltd. (ADR) (NASDAQ: CTRP). Between January and April, the companies saw the fund get rid of all of its respective 18,000 shares (worth $1.52 million) and 26,100 shares ($1.18 million).

Finally, Tiger Management’s position in Royal Caribbean Cruises Ltd (NYSE: RCL) was also sold out. The fund held 17,700 shares, worth about $1.45 million, by December 31, 2014; by March 31, 2015, it owned no stock from this cruise ship operator.

Posted-In: Julian Robertson Tiger ManagementNews Hedge Funds General Best of Benzinga

 

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