Billionaire Julian Robertson’s Top Stock Picks and His Noteworthy Recent Bullish Moves

Tiger Management added a 595,300-share position in Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) to its portfolio during the December quarter, which was valued at $39.08 million. The new position amassed 5.04% of the fund’s equity portfolio. The shares of the global pharmaceutical company have slid by more than 12% since the beginning of the year and are trading at a cheap forward P/E multiple of 9.25, which is substantially below the average of 15.1 for the Pharmaceuticals industry. In July 2015, Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) announced an agreement to purchase Allergan’s generics drug business Actavis Generics for $33.75 billion in cash and roughly 100 million Teva shares. The cash-and-stock deal, which is not yet completed due to regulatory approvals, will make the Israel-based Teva the largest maker of generic medicines in the world. It was previously anticipated that the deal would close by the end of the first quarter of 2016, but the closing might be delayed. Andreas Halvorsen of Viking Global boosted his stake in Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) by 16.17 million shares during the final three months of 2015 to 25.04 million units.

Last but not least, billionaire Julian Robertson increased his holding in GrubHub Inc. (NYSE:GRUB) by 695,528 shares or 82% during the December quarter to 1.54 million shares, which were valued at $37.19 million at the end of 2015. The provider of a platform for restaurant pick-up and delivery orders has seen its shares decline by 43% over the past year, presumably because of toughening competition in the industry. For instance, analysts believe that e-commerce giant Amazon.com Inc. (NASDAQ:AMZN) represents a major threat for the food-delivery firm, as Amazon continues to expand the reach of its restaurant delivery service. However, GrubHub Inc. (NYSE:GRUB) had a great 2015 in terms of financial performance, with its full-year 2015 revenues increasing 43% year-on-year to $361.8 million. Its net income totaled $38.1 million or $0.44 per diluted share in 2015, up 57% year-on-year. Christian Leone’s Luxor Capital Group appears to have noticed the toughening competition and trimmed its stake in GrubHub Inc. (NYSE:GRUB) by 3.48 million shares during the last quarter of 2015 to 4.96 million shares.

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