Tracking John Griffin’s Blue Ridge Capital Portfolio - Q1 2017 Update

• John Griffin’s 13F portfolio value decreased from $7.93B to $7.69B this quarter.
• Blue Ridge Capital increased Allergan plc & Bank of America while reducing Autodesk & Facebook.
• The largest three positions are Autodesk, Allergan plc, and Facebook and they add up to ~18% of the portfolio.

John Griffin’s 13F portfolio value decreased ~3% from $7.93B to $7.69B this quarter. Recent 13F reports have shown a total of around 55 positions. The largest five stakes are Autodesk Inc. (ADSK), Allergan plc (AGN), Facebook Inc. (FB), Bank of America (BAC), and CDK Global (CDK) and they add up to ~27% of the entire 13F portfolio.

John Griffin is a "tiger cub" who posted an outstanding 65% return in 2007 and followed it up with just an 8% loss during the financial crisis. To know more about Julian Robertson and his legendary Tiger Management, check out Julian Robertson: A Tiger in the Land of Bulls and Bears. 

Below is a summary:

Bank of America (BAC), Citigroup Inc. (C), and Wells Fargo (WFC): The three banking stocks were established in H2 2016 and they together account for ~12% of the portfolio. C is a 3% portfolio stake established in Q3 2016 at prices between $43 and $48. This quarter saw a ~30% selling at prices between $55.50 and $61.50. The stock is now at $63.41. The ~4.8% BAC stake was established last quarter at prices between $15.50 and $23 and it currently trades at $22.82. This quarter saw a ~12% increase. The ~4% WFC position was purchased last quarter at prices between $43.50 and $57.50 and it is now at $52.45.  

Amazon.com Inc. (AMZN): AMZN is a 4.17% of the portfolio position established in Q1 2016 at prices between $482 and $676. Q2 2016 saw a ~50% increase at prices between $586 and $728 and that was followed with another ~20% increase the following quarter at prices between $716 and $837. There was a ~11% trimming last quarter. The stock currently trades at $1004.

Ulta Beauty (ULTA): ULTA is a very long-term stake established at much lower prices compared to the current price of ~$285. Last quarter saw a ~50% selling at prices between $228 and $266. There was a ~7% trimming this quarter. Blue Ridge Capital is harvesting huge long-term gains.

Note: Blue Ridge Capital has a ~.46% ownership stake in Platform Specialty Products (PAH) and a ~5% ownership position in Ultra Petroleum (UPL).   

Below is a spreadsheet that shows the changes to John Griffin's Blue Ridge Capital Holdings US long portfolio holdings as of Q1 2017. For a look at how the portfolio has progressed, see our previous update:

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