Patrick Mccormack is the manager of Tiger Consumer Management, one of the several hedge funds seeded by Julian Robertson, the founder of Tiger Management. In the latest round of 13F filings with the SEC, Tiger Consumer Management disclosed all of its equity positions held during the second quarter of 2013.
Following the activity of a hedge fund by looking into its 13F filings is important since it can provide some data regarding the hedge fund’s sentiment. As a result, it is possible to beat the market by following this activity. Let’s take a look at this Tiger Cub’s biggest bets, including LIBERTY GLOBAL PLC (NASDAQ:LBTYA), Facebook Inc (NASDAQ:FB) and Foot Locker, Inc. (NYSE:FL).
As follows, in LIBERTY GLOBAL PLC (NASDAQ:LBTYA), the hedge fund’s stake involves about 1.9 million shares and is worth $142 million. During the second quarter of the year, Tiger Consumer Management’s stake in LIBERTY GLOBAL PLC (NASDAQ:LBTYA) rose by 10% or 177,518 shares. In its fiscal Q2, Liberty Global reported a loss as a result of its acquisition of Virgin Media, which brought increased expenses. Shares are up 3% since the beginning of the year.
The following two companies, situated in No.’s 2 and 3, are Facebook Inc (NASDAQ:FB) and Foot Locker, Inc. (NYSE:FL). Tiger Consumer Management’s stake in Facebook Inc (NASDAQ:FB) involves 4.8 million shares and is worth almost $120 million, up by 1.2 million shares over the quarter. In Foot Locker, Inc. (NYSE:FL), the hedge fund disclosed a $117.6 million stake, or 3.3 million shares, which represents a new position in the equity portfolio.
Next on the list comes Dollar General Corp. (NYSE:DG), represented in Mccormack’s equity portfolio by a $115.8 million stake, which contains 2.3 million shares. In the previous round of 13F filings, Tiger Consumer’s stake in Dollar General Corp. (NYSE:DG) contained 1.5 million shares, worth $76.6 million. The stock of Dollar General Corp. (NYSE:DG) has a year-to-date return of almost 24% and trades at a forward P/E of 14.6x.
No. 5 on our list is Catamaran Corp (USA) (NASDAQ:CTRX). Tiger Consumer Management disclosed the ownership of 2.3 million shares of the company, the value of the stake amounting to $113.3 million. Since the end of March, the hedge fund’s position in Catamaran Corp (USA) (NASDAQ:CTRX) increased by 364,580 shares. With a forward P/E of 23.4x and a PEG ratio of 2.5x, Catamaran’s stock has returned above 21% since the beginning of the year.
To sum up, the equity portfolio of Tiger Consumer Management involves stakes in over 30 companies, and has a market value of $2.8 billion, up from $2.5 billion reported at the end of the January-March period.
With this in mind, we’ll keep you in the loop about this Tiger Cub’s latest moves.
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