Julian Robertson of Tiger Management, the billionaire hedge fund manager and an early pioneer of the hedge fund industry, has seeded dozens of hedge fund managers, usually referred to as Tiger Cubs. Mr. Robertson has provided seed capital to a number of prominent hedge fund managers such as Chase Coleman of Tiger Global, Andreas Halvorsen of Viking Global and Lee Ainslie of Maverick Capital.
Teewinot Capital Advisers LLC, a New York-based asset manager run by Michael Moriarty, is yet another hedge fund vehicle seeded by hedge fund pioneer Julian Robertson. According to Institutional Investor’s Alpha, the investment firm has raised at least $35 million for a new fund called Teewinot Vista Fund. This move represents a sign that the New York-based asset manager, launched in 2003, has been performing strongly in recent years, while hedge fund clients have been withdrawing capital from other investment vehicles at a high pace in recent months due to disappointing performance. For that reason, Insider Monkey decided to have a look at the top equity holdings within Teewinot Capital’s portfolio as of the end of the first quarter of 2016, as well as discuss the performance of those holdings to date.
At Insider Monkey, we track around 730 hedge funds and institutional investors. Through extensive backtests, we have determined that imitating some of the stocks that these investors are collectively bullish on can help retail investors generate double digits of alpha per year. The key is to focus on the small-cap picks of these funds, which are usually less followed by the broader market and allow for larger price inefficiencies (see more details about our small-cap strategy).
#5. Alphabet Inc. (NASDAQ:GOOGL)
– Shares owned by Teewinot Capital Advisors as of March 31: 8,310
– Value of Teewinot Capital Advisors’ holding as of March 31: $6.34 Million
Teewinot Capital Advisors LLC owned 8,310 Class A shares of Alphabet Inc. (NASDAQ:GOOGL) at the end of the March quarter, 1,420 shares less than at the end of the December quarter. The reduced stake was valued at $6.34 million on March 31 and accounted for 5.2% of the investment’s entire portfolio. Alphabet, which many still refer to as Google, has seen its market value decline by almost 7% since the beginning of 2016. After Microsoft Corporation (NASDAQ:MSFT) announced it was acquiring LinkedIn Corp (NYSE:LNKD) for $26.2 billion in cash earlier this week, many started to think of other possible deals in the technology space. Many believe the search giant could attempt to buy battered social media company Twitter Inc. (NYSE:TWTR), again. Reportedly, Google executives discussed a possible deal with Twitter’s co-founder and current CEO Jack Dorsey back in 2011, but there was no deal after all. Andreas Halvorsen’s Viking Global Investors LP owns 2.05 million Class A shares of Alphabet Inc. (NASDAQ:GOOGL) as of the end of March.