Whitney Tilson is the founder and managing partner of T2 Partners LLC and the Tilson Mutual Funds. He has a Bachelor's degree in Government from Harvard and an MBA with High Distinction from Harvard Business School. Before launching his investment career in 1999, Tilson spent five years working with Michael E. Porter, Professor of HBS, studying the competitiveness of inner cities and inner-city-based companies nationwide.
In August, the hedge fund he is managing, T2 Partners, declined 13.7% versus -5.4% for S&P 500, -4.0% for Dow and -6.4% for Nasdaq. The portfolio suffered on the long side in spite of the generally good company-specific news regarding their major positions. On the other hand, they performed well on the short side.
Here are the 11 stocks that Whitney Tilson is shorting:
Corinthian Colleges, Inc. (COCO): Corinthian is a post-secondary education company in the United States and Canada, providing service for people who want to acquire career-oriented education. The Company offers a variety of diploma programs and Associate’s, Bachelor’s and Master’s degrees. Its program areas cover healthcare, criminal justice, mechanical, trades, business and information technology (check out hedge funds holding COCO).
Boyd Gaming Corporation (BYD): Boyd Gaming is a multi-jurisdictional gaming company. It is a diversified operator of 15 wholly owned gaming entertainment properties and one controlling interest in a limited liability company that operates Borgata Hotel Casino and Spa (Borgata) in Atlantic City, New Jersey. The Company has gaming operations in Nevada, Illinois, Louisiana, Mississippi, Indiana and New Jersey.
ReachLocal Inc. (RLOC): ReachLocal, Inc. offers online marketing and reporting solutions targeted to the small and medium-sized businesses market (SMB). It delivers these solutions to SMBs through its RL platform, direct sales force, and third-party agencies and resellers.
Lennar Corporation (LEN): Lennar is a homebuilder and a provider of financial services. The home building operations include the construction and sale of single-family attached and detached homes, multi-level residential buildings, and the purchase, development and sale of residential land directly and through unconsolidated entities. Its financial services segment provides mortgage financing, title insurance and closing services.
ITT Educational Services, Inc. (ESI): ITT is a provider of postsecondary degree programs in the United States. It offers master, bachelor and associate degree programs and online programs to help graduates prepare for careers in various fields involving their areas of study. Its career-oriented education programs are designed after consultation with employers and other constituents. Richard Blum had a huge position in this stock. Unfortunately the stock lost 12.2% since the end of June.
MBIA Inc. (MBI): MBIA is a provider of asset management and other advisory services. Its activities are managed through three business segments: United States public finance insurance, structured finance and international insurance, and advisory services. MBIA also manages certain business activities through its corporate, asset/liability products, and conduit segments. Bruce Berkowitz had more than $400 in MBI at the end of June. The stock declined 13.3% since then (check out Bruce Berkowitz’s top stocks).
First Solar, Inc. (FSLR): First Solar manufactures and sells solar modules with an advanced thin-film semiconductor technology. It designs, constructs, and sells photovoltaic solar power systems. Its main customers include project developers, system integrators, and operators of renewable energy projects.
OpenTable, Inc. (OPEN): OpenTable provides an online network connecting reservation-taking restaurants and people who dine at those restaurants. The OpenTable network includes approximately 12,000 OpenTable restaurant customers all over the states, as well as markets outside of the United States.
SuccessFactors Inc. (SFSF): SuccessFactors provides cloud-based Business Execution software solutions to organizations of all sizes, including includes Enterprise, Mid-Sized Business, Small Business and Emerging Business. It leverages a multi-tenant architecture and the core modules of its application suite and utilizes a single code base.
Salesforce.com Inc. (CRM): Salesforce.com provides enterprise cloud computing applications. The Company provides a customer and collaboration relationship management, service to businesses of all sizes and industries worldwide and provides a technology platform for customers and developers to build and run business applications.
Lululemon Athletica Inc (LULU): Lululemon Athletica is a designer and retailer of technical athletic apparel operating primarily in North America and Australia. It provides women, men and female youth with performance apparel and accessories designed for healthy lifestyle activities. LULU was one of Oprah’s favorite companies at the end of 2010. LULU lost 3.2% since June but it is still up 58% in 2011.