Tiger Global Management, the firm founded by Chase Coleman (Trades, Portfolio), revealed this week that its top five sells during the fourth quarter of 2020 were in Sunrun Inc. (RUN, Financial), Facebook Inc. (FB, Financial), Twilio Inc. (TWLO, Financial), MongoDB Inc. (MDB, Financial) and Anaplan Inc. (PLAN, Financial).
A former student of Tiger Management leader Julian Robertson (Trades, Portfolio), Coleman seeks value primarily in small-cap stocks and technology companies. Tiger Global also seeks value in early-stage venture, late-stage venture, post-initial public offering and secondary market equities.
As of the quarter-end, Tiger Global's $39.03 billion equity portfolio contains 97 stocks, with 14 new positions and a turnover ratio of 8%. The top three sectors in terms of weight are technology, consumer cyclical and communication services, representing 38.99%, 33.38% and 15.33% of the equity portfolio.
Sunrun
Tiger Global sold 21.7 million shares of Sunrun (RUN, Financial), cutting 72.88% off the stake and 4.71% off the equity portfolio. Shares averaged $61.80 during the fourth quarter.
GuruFocus ranks the San Francisco-based solar company's financial strength 2 out of 10 on several warning signs, which include a low Altman Z-score of 1.69, a poor Piotroski F-score of 2 and a debt-to-equity ratio that underperforms over 88% of global competitors.
Other gurus with holdings in Sunrun include Philippe Laffont (Trades, Portfolio)'s Coatue Management and Louis Moore Bacon (Trades, Portfolio)'s Moore Capital.
Tiger Global sold 2,423,700 shares of Facebook (FB, Financial), knocking off 27.7% of the position and 1.79% of the equity portfolio. Shares averaged $274.26 during the fourth quarter.
GuruFocus ranks the Menlo Park, California-based social media giant's profitability 10 out of 10 on several positive investing signs, which include a five-star business predictability rank and profit margins and returns outperforming over 83% of global competitors.
Other gurus with holdings in Facebook include Ken Fisher (Trades, Portfolio) and Spiros Segalas (Trades, Portfolio).
Twilio
Tiger Global sold 1,816,799 shares of Twilio (TWLO, Financial), axing 96.05% of the stake and 1.27% of the equity portfolio. Shares averaged $313.36 during the fourth quarter.
GuruFocus ranks the San Francisco-based messaging and communication service company's financial strength 7 out of 10: Twilio has a double-digit Altman Z-score despite cash-to-debt and debt-to-equity ratios outperforming just approximately half of global competitors.
MongoDB
Tiger Global sold 1,829,300 shares of MongoDB (MDB, Financial), chopping the position 95.71% and the equity portfolio 1.20%. Shares averaged $279.98 during the fourth quarter.
GuruFocus ranks the New York-based database platform provider's financial strength 4 out of 10: Although the company has a strong Altman Z-score of 10, debt ratios are underperforming over 90% of global competitors.
Anaplan
Tiger Global sold 5,520,036 shares of Anaplan (PLAN, Financial), slashing the position 81.17% and the equity portfolio 0.97%. Shares averaged $65.04 during the fourth quarter.
GuruFocus ranks the San Francisco-based performance management platform provider's financial strength 6 out of 10: The company has a double-digit Altman Z-score despite debt ratios outperforming just over 55% of global competitors.
Disclosure: No positions.
Read more here:
- Prem Watsa's Top 5 Trades of the 4th Quarter
- Stanley Druckenmiller's Top 6 4th-Quarter Trades
- Warren Buffett's Berkshire Reveals 4th-Quarter Trades
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