Vinik Asset Management’s Top Stock Picks

Billionaire Jeffrey Vinik is the owner of Tampa Bay Lightning (NHL) and the Tampa Bay Strom (AFL). He is also a minority owner of Boston Red Sox (MLB) and is on board directors for Liverpool Football Club of the Premier League. As the founder of Vinik Asset Management, Jeffrey Vinik made about 50% per year between the fund’s inception in 1996 and 2000. Vinik returned investors $4.2 billion at the end of 2000 and closed the doors of Vinik Asset Management. He decided to use the fund to manage his personal wealth.

…During the third quarter, Vinik reduced his portfolio value from $8.98 billion to $5.85 billion. He also largely reduced the number of positions in his fund. Vinik Asset Management had 369 positions at the end of June and it reported to own 239 positions at the end of September. The fund sold out 195 positions over the third quarter. For instance, Vinik reported to own $231 million worth of iShares MSCI Emerging Markets Index (EEM) at the end of June and the fund sold out all the EEM shares in the third quarter. EEM returned 9.80% since the end of September, higher than the 7.80% of SPY. Vinik Asset Management also sold out $67.5 million worth of Autoliv Inc (ALV), which returned 5.94% since September 30, as well as other 193 stocks.

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