Billionaires Robertson and Einhorn Love These Six Stocks

The two hedge fund investors made contradictory moves when it comes to NorthStar Asset Management Group Inc. (NYSE:NSAM). Julian Robertson increased his position in the asset management company by 22,700 shares to 153,100 shares during the June quarter, whereas David Einhorn reduced his holding by 120,675 shares, remaining with 3.05 million shares as of June 30. The shares of the company have lost more than 20% since the end of June and are down 35% in the red year-to-date. NorthStar Asset Management Group Inc. (NYSE:NSAM) is set to disclose its third-quarter financial results on November 9, which will display the performance of the company over the past few months and will enable stock market participants to assess the extent to which the third-quarter turmoil affected the company’s activities. Robert Pohly’s Samlyn Capital was among the largest shareholders of NorthStar Asset Management Group Inc. (NYSE:NSAM) at the end of the June quarter with 7.46 million shares.

Micron Technology Inc. (NASDAQ:MU) ceased to be a common stock pick of the two reputable managers at the end of the second quarter. Tiger Management sold out its entire 58,500-share stake in the company during the June quarter. In the meantime, Greenlight Capital boosted its stake in MU by 4.4 million shares, ending the June quarter with a whopping 37.95 million shares. The shares of the chipmaker are 52% down so far this year and many believe this stock is poised to rebound from here. However, one of Micron Technology Inc. (NASDAQ:MU)’s partners on chip-making projects, Intel Corporation (NASDAQ:INTC), has hugely invested in building up chip-making capacity at a factory in Dalian; thus, investors fear that new competition will put more weight on MU’s stock and activities. Seth Klarman’s Baupost Group was another bullish investor on Micron Technology Inc. (NASDAQ:MU) at the end of the second quarter, holding 19.71 million shares.

Both Julian Robertson and David Einhorn put an end to their love for Marvell Technology Group Ltd. (NASDAQ:MRVL) during the second quarter. Neither Tiger Management nor Greenlight Capital owned shares of the company at the end of that quarter. The former sold out its 46,100-share stake in the company, while the latter abandoned its entire stake of 9.05 million shares. Just recently, PricewaterhouseCoopers resigned as Marvell Technology Group Ltd. (NASDAQ:MRVL)’s auditor, which put even more weight on the stock after it revealed accounting issues this September. Let us remind you that Marvell disclosed that its Audit Committee was conducting an internal investigation on its revenue recognition accounting back in September. As a result, the stock is down 43% year-to-date. Cliff Asness’ AQR Capital Management owned as much as 12.27 million shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) at the end of the second quarter.

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