Billionaire Julian Robertson’s Top Stock Picks and His Noteworthy Recent Bullish Moves

Tiger Management lifted its position in Facebook Inc. (NASDAQ:FB) by 19,100 shares during the October-December period, ending the year with 496,000 shares valued at $51.91 million. Facebook has been very successful in monetizing its products in the past several years, with its 2015 revenue reaching $17.93 billion, up from $12.47 billion in 2014 and $7.87 billion in 2013. This exceptional performance can be attributed to the company’s success in capitalizing on the shift to mobile, growing the number of marketers using its ad products, and making ads more relevant and effective. For instance, mobile advertising revenue accounted for 77% of total advertising revenue in 2015, as compared to 65% in 2014. Of course, marketers keep channeling more capital towards digital platforms at the expense of traditional media, but many advertisers continue to be skeptical about the effectiveness of online ads. Therefore, Facebook Inc. (NASDAQ:FB)’s ability to persuade advertisers that its ad products are efficient will be key for its future financial success. Meanwhile, Facebook shares are up 32% over the past one-year period. Tiger Cub Stephen Mandel cut his stake in Facebook Inc. (NASDAQ:FB) by nearly 917,000 shares during the December quarter to 9.79 million shares.

Let’s take a look at Julian Robertson’s third-largest equity holding, represented by Delta Air Lines Inc. (NYSE:DAL). The renowned investor upped his position in the air carrier by 11,700 shares during the final quarter of 2015 to 1.01 million shares worth $51.30 million. Delta Air Lines has been very successful in strengthening its balance sheet in recent years, which will enable it to easily navigate any potential industry downturns. The company reduced the amount of debt and capital leases by $9.8 billion since the end of 2009 through the end of 2015. The amount of debt and capital leases dropped to $8.5 billion at the end of 2015 from the $13.2 billion registered at the beginning of 2013. As a result, Moody’s Investors Service recently upgraded Delta’s debt rating to an investment grade level, which will most likely result in lower cost of borrowing and lower interest expenses. Meanwhile, the stock is flat over the past 12 months, after having lost 9% thus far in 2016. Lansdowne Partners, managed by Alex Snow, owns 26.06 million shares of Delta Air Lines Inc. (NYSE:DAL) as of December 31.