Tiger Consumer Buys Amazon, Sells Facebook Inc (FB), J.C. Penney

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Patrick McCormack got rid of his position in J.C. Penney Company, Inc. ify.valuewalk.com="" /> in the last quarter. The tiger cub sold 5.42 million shares of the retailer in the three month period ending on Spetember 30. At the same time the hedge fund took profits on Herbalife Ltd. , reducing its position by 63% to 768,252 shares. Tiger Consumer sells JCP, pockets profit from Herbalife The other famous stakeholder in J.C. Penney Company, Inc. who also exited the entire position was Bill Ackman���s Pershing Square Capital. The fund sold an 18% position in the company at a major loss. Vornado Realty Trust also sold its stake in the retailer at $13 a share in last quarter. Vornado held 13 million shares of JCP. McCormack was not impressed with Ackman���s short attack on Herbalife Ltd. last year, as he noted in his quarterly letter. His hedge fund has maintained a long position in the company since before Ackman presented his bearish thesis on the nutrition supplements company. It seems the fund pocketed some profits on the long bet in the last quarter, as Herbalife shares rose from $45 to $70 in the three month period. Tiger cubs specialize in tech investments Tiger cubs specialize in tech investments and almost all of them have major exposure in the sector. Tiger Consumer exited several internet companies in the third quarter; the fund wrapped up its position in Facebook Inca,aeBay Inca ify.valuewalk.com="" />, Yahoo! Inc. , and Expedia Inc . Tiger Consumer added to its position in Google Inc , Catamaran Corp a ify.valuewalk.com="" /> and Tim Hortons Inc. , among others. McCormack bought 253 million shares of Amazon.com, Inc. ify.valuewalk.com="" />, which made up 3.2% of its portfolio. The fund also bought AutoZone, Inc.a, News Corp and Marriott International Inc . Tiger Consumer managed $2.3 billion as of the end of last year. -By Tabinda Hussain