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Long-Short Equity Fund’s Best Bets: Liberty Media Corp (LMCA), The Walt Disney Company (DIS)

The hedge fund manager upped his stake in this Chinese online travel service provider. From a business standpoint, Ctrip compares closely to Expedia, though it actually trades at a 33% discount to its peer on a price-to-book basis. In layman’s terms, this company serves as another GARP play, as Ctrip sports a year-ahead expected EPS growth rate of 32%. Fellow fund managers Philippe Laffont and Andreas Halvorsen are also long, among others.

Google, lastly, rounds out this top five and it has had the best 2013 of this bunch, returning a cool 13% year-to-date. Trading slightly off their all-time high north of $800, shares of Google are still cheap at 14.9 times forward earnings. Wall Street’s average price target for the tech giant, in fact, still indicates that a 5-6% upside is still expected from current levels. Google was the hedge fund world’s third favorite stock at the end of 2012; 126 of the 450 funds we track hold long positions, so there’s clear support from the smart money.

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Insider Monkey’s small-cap strategy returned 25.4% between September 2012 and January 2013 versus 7.4% for the S&P 500 index. Try it now by clicking the link above.

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