Julian Robertson’s Tiger Management disclosed on Friday its long equity positions as of September 30, 2014. According to a Schedule 13F filed with the SEC, the fund started 16 new positions, increased its stakes in another 9, and sold out of 15 of its preexisting ones over the third quarter. Following these transactions, the fund’s equity portfolio is worth more than $377 million, and has a strong focus on technology stocks. In this article, however, we will take a look at Tiger Management’s new stakes for the third quarter: Alibaba Group Holding Ltd (NYSE:BABA), eBay Inc (NASDAQ:EBAY) and MasTec, Inc. (NYSE:MTZ).
Tiger Management L.L.C. is a New York-based hedge fund sponsor founded in 2001 by legendary investor Julian Robertson. The firm specializes in investing in early stage companies and start-ups; it usually invests in global internet, technology, real estate, telecommunications, energy, media, and retail sectors.
The largest of Tiger Management’s new bets was placed on Alibaba Group Holding Ltd (NYSE:BABA). This $288.09 billion market cap online and mobile commerce company, that went public a couple of months ago, saw the fund acquire about 1.21 million shares over the second quarter. This position is worth more than $108 million, and accounts for 28.6% of the fund’s total equity portfolio, which makes it its largest wage for the third quarter.
Also betting on Alibaba Group Holding Ltd (NYSE:BABA) is David Kowitz and Sheldon Kasowitz’s Indus Capital, which purchased about 2.35 million shares during the quarter.
Alibaba Group Holding Ltd (NYSE:BABA) has been consistently making the news since its IPO. Most recently, as the company made efforts to make the “Singles’ Day” global, it managed to surpass the “Cyber Monday” in the U.S. in terms of transactions. Also a couple of days ago, we reported that Apple Inc. (NASDAQ:AAPL) and Alibaba Group Holding Ltd (NYSE:BABA) could be closing in on a deal that will allow their mobile payment platforms to work closely together.
eBay Inc (NASDAQ:EBAY) is another newcomer to Tiger Management’s equity portfolio. The $67.40 billion market cap online marketplaces and payments company saw the fund buy 496,400 shares, worth about $28 million during the third quarter.
Recently, eBay Inc (NASDAQ:EBAY) announced a management reshuffling and the decision to spin off its online payment arm, PayPal, next year. These decisions bode well for its future. However, the company is still in “danger,” as Alibaba Group Holding Ltd (NYSE:BABA) is likely to target it.
Despite this, Barry Rosenstein’s JANA Partners also seems quite bullish on eBay Inc (NASDAQ:EBAY). With 13.06 million shares, valued at $739.77 million, eBay is amongst the fund’s top picks for the third quarter.
Third amongst Tiger Management’s new picks is MasTec, Inc. (NYSE:MTZ), a $2.05 billion market cap infrastructure construction company that engages in engineering, building, installing, maintaining, and upgrading energy, communication, and utility infrastructure in North America. According to the 13F filing, the fund acquired 562,700 shares of Common Stock over the third quarter.
This stake situates Tiger Management amongst MasTec, Inc. (NYSE:MTZ)’s largest institutional investors, surpassed, however, by several funds, including William Harnisch’s Peconic Partners Llc, which declared holding 2.16 million shares by September 30, 2014.
In addition to these ideas, extracted from Tiger Management’s 13F, Mr. Robertson recently provided some others himself. According to the famed investor, Apple Inc. (NASDAQ:AAPL) and Google Inc (NASDAQ:GOOGL) are cheap stocks if compared to what they could’ve traded at a couple of decades ago.
Disclosure: Javier Hasse holds no positions in any stocks or funds mentioned
