Billionaire Julian Robertson’s Top Picks and a Put: Alibaba Group Holding Ltd (BABA), Amazon.com, Inc. (AMZN), Netflix, Inc. (NFLX), and Gilead Sciences, Inc. (GILD)

Among the new positions that Robertson has initiated, the most noteworthy is the stake in Amazon.com, Inc. (NASDAQ:AMZN). Tiger Management is betting on the stock to slide and has purchased 160,000 put options, which constitute about 9.74% of the portfolio value at $49.66 million, should the options be executed.

Amazon’s stock is up nearly 21% year-to-date in the wake of its fourth quarter earnings report in January that was viewed in a very positive light by investors. After all, it reported a 15% expansion of the company’s top line, and also an improvement in the company’s gross margin, which stood at 29.5% for the quarter. However, EBIDTA margin remained flat at 6.7%. This all resulted in Amazon reporting an EPS loss of $0.52 for the entire year. Considering the retardation in the company’s profitability, Robertson’s bet might pay off in the future, and may also be helped along by the government’s recent drone rules which have all but shot down Amazon’s hopes to deliver packages through those means in the near future.

Netflix, Inc. (NASDAQ:NFLX) is another stock that the fund initiated a position in last quarter.  The stock is up a staggering 39% since the start of this year. Valued at $24.39 million, Tiger Management’s stake constitutes 4.78% of the fund’s portfolio value.

After a disappointing third quarter report, Netflix, Inc. (NASDAQ:NFLX) has come back strongly in the fourth quarter and international user growth is back on track. A big proponent of the stock is Carl Icahn of Icahn Capital LP, who has a significant stakes in the company amounting to $482.33 million according to his recent filing with the SEC.

Gilead Sciences, Inc. (NASDAQ:GILD) is another one of Robertson’s significant holdings. The fund increased its stake in the biopharmaceutical company by 20% and added another 90,000 shares. The position is now worth $50.33 million and forms 9.87% of the portfolio value. Shares of the company are up nearly 9.6% since the start of this year. The company’s hepatitis C treatments have gained considerable traction and also enabled it to beat the estimates in its fourth quarter earnings report.