Tiger Global’s Chase Coleman (Trades, Portfolio) enveloped eight stocks, including Warren Buffett (Trades, Portfolio) favorite Apple Inc. (AAPL, Financial), into his portfolio of prominent tech industry names during the third quarter, he reported last week.
The consumer cyclical sector represents about half of Coleman’s long positions, with technology companies spanning another 41%. Dominating positions are Amazon.com Inc. (AMZN, Financial), Spotify Technology SA (SPOT, Financial) and Microsoft Corp. (MSFT, Financial).
To find investments within favored sectors, the New York-based firm focuses on business fundamentals while taking into account market themes. The Financial Times reports that the firm, which Coleman founded after departing from Julian Robertson (Trades, Portfolio)’s Tiger Management, manages around $26 billion. Its $21.09 equity portfolio listed 67 stocks at the end of the third quarter.
Coleman’s firm also has a tendency to recognize the most incandescent start-ups, becoming an early investor in companies such as Facebook (FB, Financial) and Spotify. This year, it veer slightly off course when it took a $1 billion stake in Japan’s SoftBank Group Corp. (TYO:9984, Financial) saying its stock was undervalued. The bank’s price remains down about 5.36% year to date.
In the third quarter, Coleman acquired as his largest purchases: Eventbrite Inc. (EB, Financial), SVMK Inc. (SVMK, Financial), Apple Inc. (AAPL, Financial), Zendesk Inc. (ZEN, Financial) and Twilio Inc. (TWLO, Financial).
New buys
Eventbrite Inc. (EB, Financial)
Coleman purchased 14,364,271 shares of Eventbrite, giving it 2.59% portfolio space. The third-quarter share price averaged $36.
Eventbrite Inc. has a market cap of $2.2 billion; its shares were traded around $28.05 Tuesday.
Coleman purchased 30,472,085 shares of SVMK Inc., giving it 2.32% portfolio weight. The third-quarter share price averaged $16.
SVMK Inc. has a market cap of $1.63 billion; its shares were traded around $13.05 Tuesday.
Coleman purchased 1.024 million shares of Apple Inc., giving it 1.1% portfolio weight. The stock's third-quarter share price averaged $208.
Apple Inc. has a market cap of $874.5 billion; its shares were traded around $176.98 Tuesday with a price-earnings ratio of 14.90 and price-sales ratio of 3.34. The trailing 12-month dividend yield of Apple Inc. is 1.58%. The forward dividend yield of Apple Inc. is 1.57%. Apple Inc. had an annual average earnings growth of 28% over the past 10 years. GuruFocus rated Apple Inc. the business predictability rank of 3-star.
Coleman purchased 3,143,000 shares of Zendesk Inc., giving it 1.10% portfolio weight. The stock’s third-quarter share price averaged $64.
Zendesk Inc. has a market cap of $5.28 billion; its shares were traded around $49.37 Tuesday with a price-sales ratio of 0.04.
Coleman purchased 1.03 million shares of Twilio Inc., giving it 0.42% portfolio weight. The stock’s third-quarter share price averaged $73.
Twilio Inc has a market cap of $7.5 billion; its shares were traded around $75.89 Tuesday with a price-sales ratio of 12.96.
See Chase Coleman (Trades, Portfolio)’s portfolio here.
