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Can Billionaire John Griffin’s Small-Cap Picks Beat the Market?

Another strong performer this year among Griffin’s small-cap picks has been MGIC Investment Corp. (NYSE:MTG), as it has returned over 20% year-to-date. Blue Ridge’s stake in the $3.82 billion private mortgage insurer amounts to 14.90 million shares valued at $143.49 million and representing 1.64% of its portfolio value. For the month of May, MGIC Investment Corp. (NYSE:MTG) posted solid operating statistics. New primary insurance written stood at $3.7 billion as compared to $2.8 billion a year ago and the delinquent inventory comprised 68,224 loans at the end of the month, in contrast to 86,415 loans at the end of May of 2014. Lee Ainslie‘s Maverick Capital holds a large stake of 13.56 million shares of MGIC.

Blue Ridge’s stake in PBF Energy Inc (NYSE:PBF) amounts to 3.16 million shares valued at $107.19 million. The fund has held a position in the $2.43 billion energy company since the last quarter of 2013. PBF Energy Inc (NYSE:PBF)’s stock is trading almost sideways on a year-to-date basis. Seth Klarman’s Baupost Group and Robert Joseph Caruso’s Select Equity Group are the largest stockholders of PBF Energy Inc (NYSE:PBF) in our database, with respective holdings of 8.66 million shares valued at $293.85 million and 4.69 million shares valued at $159.25 million.

After boosting its stake in Post Holdings Inc (NYSE:POST) by 29% during the first quarter, Blue Ridge held 2.21 million shares valued at $103.28 million of the consumer packaged goods company. Another strong performer this year, Post Holdings Inc (NYSE:POST)’s stock is up by nearly 11% so far. John Paulson’s Paulson & Co is the largest shareholder of Post Holdings Inc (NYSE:POST) in our database with some 2.58 million shares valued at $120.63 million.

At the end of the first quarter, Blue Ridge held 2.47 million shares of Kate Spade & Co (NYSE:KATE) valued at $82.47 million. The stock of the $3.25 billion designer of accessories and apparel has slumped by over 20% so far this year. The apparel manufacturing industry has generally been facing weakness this year and is down by a little more than 4% so far. The hedge fund interest in Kate Spade & Co (NYSE:KATE) has declined over the first quarter as 29 firms had an aggregate investment of $902.92 million in the company at the end of March compared to 32 funds with $864.06 million invested at the end of the previous quarter. Robert Pohly‘s Samlyn Capital is the largest shareholders of those, holding about 4.53 million shares valued at $151.28 million.

Disclosure: None

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