Insights from the Latest 13F Filing Reveal Significant Moves in Tech Stocks
Chase Coleman (Trades, Portfolio), the founder of Tiger Global Management and a prominent "tiger cub" protégé of Julian Robertson, has made notable changes to his investment portfolio in the fourth quarter of 2023. Known for his penchant for small caps and technology stocks, Coleman's investment strategy is rooted in a long-term, fundamental orientation. His firm focuses on high-quality companies poised for secular growth and steered by exceptional management teams.
Summary of New Buys
Chase Coleman (Trades, Portfolio)'s latest 13F filing reveals the addition of 2 new stocks to the portfolio:
- Broadcom Inc (AVGO, Financial) emerged as the most significant new holding, with 182,300 shares valued at $203.49 million, making up 1.45% of the portfolio.
- DexCom Inc (DXCM, Financial) was the second major addition, comprising 1,152,806 shares worth $143.05 million, accounting for approximately 1.02% of the portfolio.
Key Position Increases
Coleman also bolstered his stakes in 9 existing holdings:
- Fleetcor Technologies Inc (FLT, Financial) saw a substantial increase of 519,221 shares, bringing the total to 1,303,691 shares. This represents a 66.19% surge in share count and a 1.04% impact on the current portfolio, with a total value of $368.44 million.
- Amazon.com Inc (AMZN, Financial) experienced the second-largest boost, with an additional 947,440 shares, resulting in a total of 4,882,480 shares. This adjustment marks a 24.08% increase in share count, with a total value of $741.84 million.
Summary of Sold Out Positions
The fourth quarter also saw Coleman exit 11 positions entirely:
- Intuit Inc (INTU, Financial) was completely sold off, with all 508,000 shares divested, impacting the portfolio by -1.91%.
- Confluent Inc (CFLT, Financial) was another full exit, with 5,193,901 shares liquidated, leading to a -1.13% portfolio impact.
Key Position Reductions
Reductions were made in 15 stocks, with the most significant being:
- Meta Platforms Inc (META, Financial) was reduced by 1,430,767 shares, a -16.08% decrease in shares, affecting the portfolio by -3.17%. The stock traded at an average price of $325.65 during the quarter and has seen a 39.67% return over the past 3 months and a 32.71% year-to-date return.
- Microsoft Corp (MSFT, Financial) saw a reduction of 787,113 shares, a -12.84% decrease, with a -1.83% impact on the portfolio. The stock's average trading price was $355.93 for the quarter, with a 10.25% return over the past 3 months and an 8.33% year-to-date return.
Portfolio Overview
As of the fourth quarter of 2023, Chase Coleman (Trades, Portfolio)'s portfolio comprised 39 stocks. The top holdings included 18.8% in Meta Platforms Inc (META), 14.3% in Microsoft Corp (MSFT), 8.15% in Apollo Global Management Inc (APO, Financial), 5.91% in Take-Two Interactive Software Inc (TTWO, Financial), and 5.28% in Amazon.com Inc (AMZN, Financial).
The portfolio is primarily concentrated in five industries: Technology, Communication Services, Consumer Cyclical, Financial Services, and Healthcare, reflecting Coleman's strategic focus on sectors with robust growth potential.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
