The late Julian RobertsonFounder of hedge fund Tiger Management, has returned 31.7% annually from its inception in 1980 to its peak in 1998, compared to the 12.7% annualized return in the S&P 500.
During the second quarter, Tiger Management reduced its portfolio from 33 holdings to just 13. The most notable position change was in the Invesco QQQ Trust, Series 1 QQQas the hedge fund reduced its position by 325,000 shares and also holds put options on these shares.
Though the billionaire investor trimmed many positions as rising interest rates pushed shares lower, there are still a few stocks Robertson is keeping in his arsenal for the long term. Here are two dividend stocks Tiger Management still owns despite the turbulent markets.
Blackstone Group Inc BX offers a dividend yield of 5.40%, or $5.13 per share annually, makes quarterly payments, and has a mixed track record of growing its dividends. Blackstone is one of the world’s largest alternative wealth managers with $940.8 billion in total assets under management, including $683.8 billion in fee-based assets under management (as of the end of June 2022).
During the second quarter, Tiger Management reduced its hedge fund position by 305,000 shares, but is still the company’s fourth most-held position, accounting for 12% of the portfolio, or 286,500 shares owned.
Microsoft Corporation MSFT offers a dividend yield of 1.02%, or $2.48 per share annually, makes quarterly payments, and has a distinguished track record of growing its dividends over the past 19 years. Microsoft licenses consumer and enterprise software and is known for its Windows operating systems and Office productivity suite.
During the second quarter, Tiger Management trimmed its Microsoft holdings by 99,300 shares but is still the third-most-owned position in the hedge fund,…
