Julian Robertson recently filed their 13F report for the first quarter of 2022, which ended on 2022-03-31.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Julian Robertson (Trades, Portfolio) is considered the father of hedge fund. He launched his firm Tiger Management in 1980 with $8 million, and turned it into over $22 billion in the late 1990s. Robertson had the best hedge fund record throughout the 1980s and 1990s. It is reported that the compound rate of return to his investors was 32%. During his active years, he was considered to be the "Wizard of Wall Street." His hedge fund, Tiger Management, became the world's largest fund, which peaked at over $23 billion invested. He lost 4% in 1998 and 19% in 1999 as rival investors were riding the dot-com bubble to spectacular returns. He shut down his fund. Today Tiger Management only manages fund from internal investment, mainly Mr. Robertson's own money. Besides his investment record, Mr. Robertson also mentored a group of young hedge fund managers, known as the "Tiger Cubs." A number of them became extremely successful hedge fund managers in their own right, including John Griffin (Trades, Portfolio) of Blue Ridge Capital, Lee Ainslie (Trades, Portfolio) of Maverick Capital, Andreas Halvorsen (Trades, Portfolio) of Viking Global, and Steve Mandel (Trades, Portfolio) of Lone Pine Capital. They are also included in our List of Gurus.
As of the latest 13F report, the guru’s equity portfolio contained 33 stocks valued at a total of $606,000,000. The top holdings were BX(12.38%), MSFT(10.34%), and MU(5.73%).
According to GuruFocus data, these were Julian Robertson (Trades, Portfolio)’s top five trades of the quarter.
SLM Corp
Julian Robertson (Trades, Portfolio) reduced their investment in NAS:SLM by 2,290,100 shares. The trade had a 8.84% impact on the equity portfolio. During the quarter, the stock traded for an average price of $18.96.
On 05/16/2022, SLM Corp traded for a price of $16.67 per share and a market cap of $4,471,646,000. The stock has returned -13.99% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 6 out of 10.
In terms of valuation, SLM Corp has a price-earnings ratio of 7.66, a price-book ratio of 2.51, a price-earnings-to-growth (PEG) ratio of 0.76 and a price-sales ratio of 2.94.
The price-to-GF Value ratio is 1.00, earning the stock a GF Value rank of 6.
Adaptive Biotechnologies Corp
Julian Robertson (Trades, Portfolio) reduced their investment in NAS:ADPT by 526,100 shares. The trade had a 2.9% impact on the equity portfolio. During the quarter, the stock traded for an average price of $15.74.
On 05/16/2022, Adaptive Biotechnologies Corp traded for a price of $8.19 per share and a market cap of $1,142,090,000. The stock has returned -75.49% over the past year.
GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 1 out of 10.
In terms of valuation, Adaptive Biotechnologies Corp has a price-book ratio of 2.07, a EV-to-Ebitda ratio of -4.16 and a price-sales ratio of 7.33.
The price-to-GF Value ratio is 0.27, earning the stock a GF Value rank of 2.
Momentive Global Inc
The guru sold out of their 238,837-share investment in NAS:MNTV. Previously, the stock had a 0.99% weight in the equity portfolio. Shares traded for an average price of $16.71 during the quarter.
On 05/16/2022, Momentive Global Inc traded for a price of $12.48 per share and a market cap of $1,831,895,000. The stock has returned -30.60% over the past year.
GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 4 out of 10.
In terms of valuation, Momentive Global Inc has a price-book ratio of 5.95, a EV-to-Ebitda ratio of -23.24 and a price-sales ratio of 3.95.
The price-to-GF Value ratio is 0.51, earning the stock a GF Value rank of 4.
Qurate Retail Inc
The guru established a new position worth 1,245,000 shares in NAS:QRTEA, giving the stock a 0.98% weight in the equity portfolio. Shares traded for an average price of $6.41 during the quarter.
On 05/16/2022, Qurate Retail Inc traded for a price of $3.795 per share and a market cap of $1,460,607,000. The stock has returned -61.09% over the past year.
GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 8 out of 10.
In terms of valuation, Qurate Retail Inc has a price-earnings ratio of 12.17, a price-book ratio of 0.51, a EV-to-Ebitda ratio of 5.52 and a price-sales ratio of 0.11.
The price-to-GF Value ratio is 0.37, earning the stock a GF Value rank of 2.
Alphabet Inc
The guru established a new position worth 1,750 shares in NAS:GOOG, giving the stock a 0.81% weight in the equity portfolio. Shares traded for an average price of $2718.53 during the quarter.
On 05/16/2022, Alphabet Inc traded for a price of $2327.37 per share and a market cap of $1,516,967,358,000. The stock has returned 3.02% over the past year.
GuruFocus gives the company a financial strength rating of 9 out of 10 and a profitability rating of 10 out of 10.
In terms of valuation, Alphabet Inc has a price-earnings ratio of 20.79, a price-book ratio of 5.96, a price-earnings-to-growth (PEG) ratio of 0.78, a EV-to-Ebitda ratio of 13.81 and a price-sales ratio of 5.74.
The price-to-GF Value ratio is 0.85, earning the stock a GF Value rank of 9.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
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