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GLG Partners LP is an investment advisory and hedge fund management firm. It is a subsidiary of GLG Partners Inc., which in turn is the subsidiary of Man Group, Ltd. The fund manages a total of over $20 billion in assets (both equity and fixed income).

Investment Strategy: GLG Partners LP utilizes a combination of multi-strategy and long-only investment strategies, seeking to achieve consistent and superior absolute returns with low volatility and low correlations to both the equity and fixed income markets. The firm combines in-house research with independent research ideas contributed by investment banks, brokerage firms, and the sub-manager's original investment ideas. GLG Partners' investment process makes use of top-down and bottom-up analysis applied with a macro overlay, and fundamental analysis, using a quantitative valuation approach. The firm uses leverage and the risk is spread through diversification by manager and by the strategy.

The following is a list of its top holdings, as released in its most recent 13F filing with the SEC.

Stock

Symbol

Shares Held - 06/30/2011

% of Portfolio

Change in shares

Seadrill Limited

(NYSE:SDRL)

1,014,924

7.16

148,549

Apple Inc.

(NASDAQ:AAPL)

102,368

6.87

-178,064

Qualcomm Incorporated

(NASDAQ:QCOM)

281,524

3.2

-504,797

VMware, Inc.

(NYSE:VMW)

157,605

3.16

-24,269

EMC Corporation

(NYSE:EMC)

533,716

2.94

-563,617

Vale S.A.

(NYSE:VALE)

436,903

2.79

-57,950

Teva Pharmaceutical Industries Limited

(NYSE:TEVA)

194,570

1.88

-25,430

Salesforce.com

(NYSE:CRM)

59,079

1.76

-29,144

Red Hat, Inc.

(NYSE:RHT)

168,720

1.55

56,411

Teradata Corporation

(NYSE:TDC)

128,349

1.54

89,299

My favorite long candidates in the above list are Qualcomm and Apple.

Qualcomm designs, develops, and supplies semiconductors and collects royalties on wireless handheld devices and infrastructure based on its dominant position in CDMA and other related technology patents. In addition, Qualcomm provides systems software to wireless handset vendors and promotes applications and services that run on high speed wireless networks. The company operates through three segments: CDMA Technologies, Technology Licensing, and Wireless & Internet.

I am bullish on prospects of Qualcomm, despite concerns about macro uncertainty. Smartphone and tablet adoption trends are expected to remain solid as prices fall and volumes grow. Low-cost smartphones are a trade-off, but I believe they will be a net positive for Qualcomm. Qualcomm has made considerable progress in penetrating handset OEMs in China. These price-sensitive Chinese customers may result in lower gross margin percentages for Qualcomm's chip business, but should increase its gross margin dollars due to high volumes.

Further, increasing market share for Qualcomm’s integrated chipsets and accelerating 3G device sales in emerging markets are an added plus. Qualcomm's competitors remain sub-scale, and the company is likely to reach 50% share in 3G this year.

Apple is another secular growth and market share gain story in the smart phone and tablet space. Apple’s competitors in both smart phone and tablet space have, so far, been unable to counter Apple’s continued market share gain in both the segments. Recently Apple’s smart phone competitor Research in Motion (RIMM) declared its quarterly results; its BlackBerry units plummeted 20% Q/Q while PlayBook shipments tanked 60%. I believe it is only a matter of time before the iPhone and iPad challenge RIMM's enterprise dominance. At 12x next year's EPS and cash in hand of around $75 billion, it is one of the best stocks to buy in current uncertain times. The coming iPhone 5 launch will likely be the next catalyst for the stock.

For other stocks in the above list, here are some of the specifics about these companies, including a brief description of their business and growth expectations (top-line and bottom-line):

SeaDrill Limited is a Bermuda-based company active in the oil and gas industry. The company operates a fleet of 60 units comprising drill ships, jack-up rigs, semi-submersible rigs and tender rigs for operations in shallow to ultra-deepwater areas. The company’s customers are national, international and independent oil companies. The company’s operations are divided into three operating segments: Mobile Units; Tender Rigs and Well Services. SeaDrill's EPS forecast for the current year is $2.86 and next year is $3.28. According to consensus estimates, its top line is expected to grow 2.80% in the current year and 8.20% next year.

VMware, Inc. is a provider of virtualization solutions from the desktop to the data center. The company’s suite of virtualization solutions addresses a range of complex information technology problems, that include cost and operational inefficiencies, facilitating access to cloud computing capacity, business continuity, software lifecycle management, and corporate computing device management. VMware's EPS forecast for the current year is $2.08 and next year is $2.46. According to consensus estimates, its top line is expected to grow 30.40% in the current year and 20.20% next year.

EMC Corporation develops, delivers and supports the information technology industry’s range of information infrastructure and virtual infrastructure technologies, solutions and services. EMC provides information storage, back-up and protection, management, security, information intelligence, data computing and virtualization technologies, services and solutions. EMC operates in two business categories: EMC Information Infrastructure and VMware Virtual Infrastructure. EMC's EPS forecast for the current year is $1.49 and next year is $1.73. According to consensus estimates, its top line is expected to grow 17.10% in the current year and 11.10% next year.

Vale SA is a Brazil-based metals and mining company. The company's product portfolio includes nickel, iron ore and iron ore pellets, manganese ore, ferroalloys, aluminum, fertilizers, copper and coal among others. Vale is engaged in the mineral exploration in 24 countries around the globe. In addition, the company operates logistics systems in Brazil, including railroads, maritime terminals and ports, which are integrated with its mining operations and it has a maritime freight portfolio to transport iron ore. Vale's EPS forecast for the current year is $5.06 and next year is $4.75. According to consensus estimates, its top line is expected to grow 34.20% in the current year and 4.80% next year.

Teva Pharmaceutical Industries Limited is a global pharmaceutical and drug company. It develops, produces and markets generic drugs in all treatment categories. The company has a pharmaceutical business, whose principal products include Copaxone and Azilect. Teva's EPS forecast for the current year is $5.05 and next year is $5.71. According to consensus estimates, its top line is expected to grow 14.90% in the current year and 14.20% next year.

Salesforce.com, Inc. is a provider of 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. Salesforce.com's EPS forecast for the current year is $1.31 and next year is $1.82. According to consensus estimates, its top line is expected to grow 34.70% in the current year and 24% next year.

Red Hat, Inc. is engaged in providing open source software solutions to the enterprise. Red Hat’s software solutions consist of Red Hat enterprise technologies, such as Red Hat Enterprise Linux, JBoss Enterprise Middleware and Red Hat Enterprise Virtualization. It offers operating systems and virtualization options for mainframes, servers, work stations and desktops that support multiple application areas, including software as a service, cloud deployments, edge-of-network applications, information technology infrastructure (applications, such as database, enterprise resource planning and large Web servers), mainframe computing, data centers, technical/developer workstations and corporate desktops. Red Hat's EPS forecast for the current year is $1.00 and next year is $1.15. According to consensus estimates, its top line is expected to grow 19.40% in the current year and 13.30% next year.

Teradata Corporation is a provider of enterprise data warehousing, including enterprise analytic technologies and services. The company also provides integrated marketing software. Teradata's EPS forecast for the current year is $2.26 and next year is $2.59. According to consensus estimates, its top line is expected to grow 19.20% in the current year and 11.40% next year.

Source: GLG Partners' Top 10 Holdings