Patrick McCormack’s and Tiger Consumer’s Favorite Stock Picks

Patrick McCormack is a hedge fund manager who previously worked at Julian Robertson’s Tiger Management hedge fund. His fund Tiger Consumer Management is one of several funds that were seeded by Julian Robertson. Tiger Consumer was founded in 2006 and as the name implies invests primarily in consumer-related themes. At June 30, the fund’s 13F assets totaled approximately $1.26B.

During the second quarter, McCormack reduced stakes in two significant holdings, Green Mountain Coffee Roasters (GMCR), and kindle maker Amazon (AMZN). The fund cut its holdings in GMCR by 37% and AMZN by 25% during the quarter. Despite the large cuts, these two stocks still account for sizable portion of the fund’s portfolio. GMCR was the fund’s third largest position, with investments of approximately $57.6M. GMCR accounted for 4.6% of the 13F portfolio at the end of June. Amazon was the funds’ 12th largest holding during the same period. The fund owned $51.5M worth of Amazon stock at the end of the quarter and this position accounted for 4.1% of the portfolio.

Both these stocks have outperformed the S&P since July. GMCR lost 4.3% since June and AMZN lost 13.2. This compares very favorably with the 14.6% loss suffered by the S&P 500 index during the same period.

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