Hugh Sloane’s and George Robinson’s Sloane Robinson was founded in 1993. The company manages assets with an absolute return focus and mainly invests in long/short equity in emerging, Pacific and European markets. Sloane Robinson employs a combination of a top-down and a bottom-up stock picking approach to create its portfolios. We believe that by focusing on Sloane Robinson’s best stock picks, investors are more likely to beat the market in the long term.
Below we compiled a list of top 15 positions in Sloane Robinson’s portfolio at the end of September.
Ctrip Com Intl Ltd (CTRP): Ctrip is a travel service provider for hotel accommodations, airline tickets and packaged tours in China. The company is going to report its third quarter financial results on November 13. For the second quarter of 2011, Ctrip had revenue of $833 million, versus $695 million for the same quarter in 2010. Net income was $263.7 million, up from $235.21 million a year ago. Sloane Robinson had $41.7 million invested in CTRP and the stock returned 3.79% since the end of September. It has a market cap of $19.74B and a P/E ratio of 29.66. Stephen Mandel’s Lone Pine Capital had $300+ million invested in CTRP at the end of June.
Mobile Telesystems Ojsc (MBT): Mobil Telesystems Ojsc is a Russia-based telecommunications provider. For the three months ending June 30, 2011, the company reported revenue of $3.1 billion, up from $2.8 billion a year ago. Net income was $367.01 million, up from $357.74 million for the same period a year ago. Sloane Robinson invested $32.4 million in MBT and it returned 8.46% since the end of third quarter. It has a market cap of $13.49B and a P/E ratio of 9.89. John Kleinheinz had $30 million invested in MBT at the end of June. D. E. Shaw and Israel Englander were also bullish about MBT.
Virgin Media Inc (VMED): Virgin Media is engaged in entertainment and communications business. The company reported revenue of GBP 1 billion for the third quarter of 2011, up from GBP 978 million for the same period a year ago. Operating income stood at GBP 128.4 million, up from GBP 101.7 million in the third quarter last year. Sloane Robinson had $30.5 million invested in VMED and it lost 3.29% since the end of September. VMED has a market cap of $7.14B and a P/E ratio of 81.13. Steven Cohen also had $41 million invested in VMED as of June 30, 2011.
Apple Inc (AAPL): Apple designs, manufactures and markets a range of personal computers, mobile communication and media devices, and portable digital music players. It also sells a range of related software, services, peripherals, networking solutions, and third-party digital content and applications. The company reported revenue of $28.27 billion for the third quarter of 2011, compared with $20.34 billion for the same period a year ago. Its net income was $6.6 billion, compared with $4.3 billion last year. Sloane Robinson had $13.7 million of AAPL and it returned 3.66% since the end of September. AAPL has a market cap of $359.96B and a P/E ratio of 14.00. Rob Citrone had over $700 million invested in AAPL.
Companhia De Bebidas Das Ame (ABV): AmBev is a Brazil-based company produces, distributes and sells beer, carbonated soft drinks and other non-alcoholic and non-carbonated products in 14 countries across the Americas. The company reported net sales grew 10.6% and net revenue grew 7.5% in the third quarter. EBITDA reached R$ 2,952.8 million in the third quarter of 2011, which is an organic growth of 13.5%. Cash generated from operations in the third quarter was R$ 3,420.8 million, a 32.9% increase as compared to same period in 2010. Normalized Profit was R$ 1,645.4 million, while earnings per share declined 9.9%. Sloane Robinson invested $12.6 million in ABV and the stock returned 9.57% since the end of September. It has a market cap of $102.81B and a P/E ratio of 22.02. Jim Simons holds the largest ABV position among the 300-plus funds we are tracking.