Billionaire Julian Robertson’s Long Term Stock Picks Include Google Inc (GOOG)

Another long term pick in Robertson’s portfolio has been $28 billion market cap pharmaceutical company Valeant Pharmaceuticals Intl Inc (NYSE:VRX). Valeant’s stock price has nearly doubled in the last year. The company was unprofitable in the first quarter of 2013, despite revenue growing 25% versus a year earlier, but apparently the markets believe that the prospects for its products are improving and their optimism is driving the stock higher. Billionaire (and Tiger Cub) Stephen Mandel’s Lone Pine Capital initiated a position of 4.9 million shares in Valeant Pharmaceuticals Intl Inc (NYSE:VRX) between January and March (research more stocks Mandel was buying).

We’ve mentioned Robertson’s bullishness on credit card stocks, and in fact Visa Inc (NYSE:V), Mastercard’s closest peer, has been another long term stock pick. As with Mastercard, Visa Inc (NYSE:V) is priced for high growth- it is valued at 22 times forward earnings estimates. The company’s pretax income was up 15% in its most recent quarter compared to the same period in the previous fiscal year (earnings were down only on a higher effective tax rate), but we still think that we’d want to wait for more info at that pricing. Fisher Asset Management, managed by billionaire Ken Fisher, reported a position of 3.4 million shares.

The filing disclosed ownership of about 270,000 shares of QUALCOMM, Inc. (NASDAQ:QCOM), which had also been a significant position in the billionaire’s portfolio in Q1 2011. The company’s sales and earnings from continuing operations have been growing strongly, and at a trailing P/E of 17 QUALCOMM, Inc. (NASDAQ:QCOM) could certainly have upside potential. Analyst forecasts imply a forward earnings multiple of only 13 and a five-year PEG ratio of 0.8. Billionaire Andreas Halvorsen’s Viking Global- another Tiger Cub fund- disclosed ownership of 8.6 million shares in its most recent 13F (see Halvorsen’s stock picks).

Disclosure: I own no shares of any stocks mentioned in this article.