Chase Coleman (Trades, Portfolio), founder of tech investment hedge fund Tiger Global Management, loaded his portfolio with 12 new stocks in the first quarter, giving preference to online media companies, true to his track record.
Coleman’s firm typically buys stakes in companies based on trends it sees in certain sectors. Often getting in on the early stages, it has backed some of the most storied names, such as Facebook (FB), Spotify and Snap (SNAP). Coleman launched the firm in 2001 after his departure from Tiger Management, the firm of hedge fund pioneer Julian Robertson (Trades, Portfolio), whose former protégées often bear the nickname “tiger cubs.”
Tiger has had a ferocious year, banking $3 billion on a $1 billion investment in Flipkart Group, India’s largest online retailer in which Walmart (WMT) acquired a majority stake, according to Bloomberg.
To end the first quarter, Coleman positioned 45.6% of his long equity portfolio in consumer cyclical stocks, the largest sector represented. Technology took another 32.8% portion. These two sectors formed the basis of his strategy, with financial services, the next largest sector, at a mere 8.2%.
The largest positions Tiger Global established during the period were: Mercado Libre Inc. (MELI, Financial), Twitter Inc. (TWTR, Financial), Bilibili Inc. (BILI, Financial), Sunrun Inc. (RUN, Financial) and Seat Ltd. (SE, Financial).
It also dropped from its portfolio: Etsy Inc. (ETSY, Financial), Qudian Inc. (QD, Financial), Ctrip.com International Ltd. (CTRP, Financial) and Alphabet Inc. (GOOGL, Financial).
Mercado Libre Inc. (MELI, Financial)
Tiger purchased 795,665 shares of MercadoLibre Inc., giving it 1.89% portfolio space. The stock’s first-quarter share price averaged $366.
MercadoLibre Inc. has a market cap of $12.83 billion; its shares were traded around $290.46 with and P/S ratio of 8.97. The trailing 12-month dividend yield of MercadoLibre Inc. stocks is 0.15%. MercadoLibre Inc. had an annual average earnings growth of 18.40% over the past 10 years. GuruFocus rated MercadoLibre Inc. the business predictability rank of 3.5-star.
Twitter Inc. (TWTR, Financial)
Tiger purchased 9,458,469 shares, giving it 1.82% portfolio space. The stock’s first-quarter share price averaged $29.
Twitter Inc. has a market cap of $25.33 billion; its shares were traded around $33.65 with a P/E ratio of 3,365.00 and P/S ratio of 9.77.
Bilibili Inc. (BILI, Financial)
Tiger purchased 5,810,227 shares of Bilibili Inc., giving it 0.42% portfolio space. The stock’s first-quarter share price averaged $11.
Bilibili Inc. has a market cap of $3.58 billion; its shares were traded around $12.84 with and P/S ratio of 8.12.
Tiger purchased 9,493,179 shares of Sunrun Inc., giving it 0.34% portfolio weight. The stock’s first-quarter share price averaged $11.
Sunrun Inc. has a market cap of $1.18 billion; its shares were traded around $10.87 with a P/E ratio of 8.55 and P/S ratio of 2.06.
Tiger purchased 2,328,136 shares of Sea Ltd., giving it 0.17% portfolio weight. The stock’s first-quarter share price averaged $12.
Sea Ltd. has a market cap of $4.52 billion; its shares were traded around $13.50 with and P/S ratio of 9.29.
Sales
Tiger sold 4,177,723 shares of Etsy Inc., which had a first-quarter share price of $22.
Etsy Inc. has a market cap of $3.52 billion; its shares were traded around $29.43 with a P/E ratio of 37.78 and P/S ratio of 7.86.
Tiger sold 330,000 shares of Qudian Inc., which had a first-quarter share price of $14.
Qudian Inc. has a market cap of $3.12 billion; its shares were traded around $9.58 with and P/S ratio of 4.99.
Ctrip.com International Ltd. (CTRP, Financial)
Tiger sold 295,000 shares of Ctrip.com International, which had a first-quarter share price of $47.
Ctrip.com International Ltd. has a market cap of $23.24 billion; its shares were traded around $42.98 with a P/E ratio of 75.39 and P/S ratio of 6.22.
Alphabet Inc. (GOOGL, Financial)
Tiger sold 72,290 shares of Alphabet Inc., which had a first-quarter share price of $1,109.
Alphabet Inc. has a market cap of $750.49 billion; its shares were traded around $1082.21 with a P/E ratio of 45.99 and P/S ratio of 6.50. Alphabet Inc. had an annual average earnings growth of 16.60% over the past 10 years. GuruFocus rated Alphabet Inc. the business predictability rank of 3-star.
SeeAlphabet Inc. (GOOGL, Financial)Alphabet Inc. (GOOGL)Ctrip.com International Ltd has a market cap of $23.24 billion; its shares were traded around $42.98 with a P/E ratio of 75.39 and P/S ratio of 6.22.
See Chase Coleman (Trades, Portfolio)’s portfolio here.
