Google Inc (GOOG), Wal-Mart (WMT): Edinburgh Partners Loves the Mega-Caps

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Edinburgh Partners is a Scotland-based hedge fund managed by Sandy Nairn, and was founded in 2003. Edinburgh focuses on a long-term investment strategy and invests in equities, with a fundamental and bottom-up approach. Edinburgh’s top five holdings make up over 60% of the firm’s 13F. The firm’s most recent 13F – which is filed by hedge funds and notable investors revealing the majority of the public securities they own – includes three picks with market-caps in excess of $220 billion and one at $100 billion. In reviewing Edinburgh’s filing, we have outlined the firm’s top five holdings:

Sandy Nairn

Google Inc (NASDAQ:GOOG) is Edinburgh’s top 13F holding and makes up 13.3% of the fund’s 13F portfolio. The company’s Motorola Mobility acquisition should help boost 2013 revenues – expected to be up 15%, despite interim earnings pressures related to the purchase. The search company is seeing positive trends in online advertising and international expansion, while the Motorola Mobility segment alone is expected to see 2013 revenues up 5%. The hardware segment should pair well with Google’s leading mobile Android OS. Although the Motorola integration has put a strain on Google’s growth and margins, it obviously still has a stronghold on the search market, with over 60% of U.S. searches going through Google. Billionaire George Soros took a new position in the stock last quarter (check out George Soros’ newest picks).

Cisco Systems, Inc. (NASDAQ:CSCO) is another tech giant, one that specializes in communications equipment. With a 13x P/E, Cisco trades well below other competitor Ericsson at 16.5x earnings. The company does expect to see solid revenue growth over the interim at 5%+ for the next two years with new products and data center expansion. Driving this revenue growth should be an overall increase in global bandwidth usage, where Cisco should manage to see market share gains in routing. The interim weakness, however, should continue due to weakness in IT spending. The tech giant does pay a solid 2.7% dividend yield and has a robust $45 billion in cash – compared to its $3 billion annual dividend payout. Jim Simons took a new position of over 13 million shares last quarter (check out Jim Simons’ top picks).

Read more to see Edinburgh’s other major investments…

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