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Chase Coleman's Tiger Global Boosts Li Auto, Dumps Netflix in 1st Quarter

Former tiger cub's firm releases quarterly portfolio

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May 26, 2022
Summary
  • Tiger Global boosts holding in Li Auto.
  • Firm exits position in Netflix.
  • Also trims holdings in Zoom, Uber and Amazon.com.
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Tiger Global Management, the firm founded by

Chase Coleman (Trades, Portfolio), disclosed in a regulatory filing that its top trades during the first quarter included a boost to its holding of Li Auto Inc. (LI, Financial), the closure of its position in Netflix Inc. (NFLX, Financial) and reductions to its positions in Zoom Video Communications Inc. (ZM, Financial), Uber Technologies Inc. (UBER, Financial) and Amazon.com Inc. (AMZN, Financial).

A former protégé of

Julian Robertson (Trades, Portfolio)’s Tiger Management, Coleman established his New York-based firm in 2001. Tiger Global applies a fundamentally oriented, long-term investment approach: The firm seeks to invest in high-quality companies that have strong management teams and can benefit from solid secular trends.

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As of March 31, Tiger Global’s $26.64 billion 13F equity portfolio contains 88 stocks, with two new positions and a quarterly turnover ratio of 11%. The top three sectors in terms of weight are technology, consumer cyclical and communication services, representing 52.57%, 21.05% and 14.48% of the equity portfolio.

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Investors should be aware that 13F filings do not give a complete picture of a firm’s holdings as the reports only include its positions in U.S. stocks and American depository receipts, but they can still provide valuable information. Further, the reports only reflect trades and holdings as of the most-recent portfolio filing date, which may or may not be held by the reporting firm today or even when this article was published.

Li Auto

Tiger Global purchased 12,388,725 shares of Li Auto (

LI, Financial), expanding the position by 167.35% and its equity portfolio by 1.20%. Shares of Li Auto averaged $27.65 during the first quarter.

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The Beijing-based electric SUV manufacturer has a financial strength rank of 7 out of 10 on several positive investing signs, which include a strong Altman Z-score of 4.53 and a cash-to-debt ratio that outperforms more than 81% of global competitors.

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Despite good financial strength, Li Auto does not have enough data to compute a growth rank, GF Value rank and momentum rank. Thus, the GF Score may give an incomplete picture of a stock’s potential.

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Other gurus with holdings in Li Auto include

Baillie Gifford (Trades, Portfolio) and Andreas Halvorsen (Trades, Portfolio)’s Viking Global Investors LP.

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Netflix

The firm sold all 1,086,490 shares of Netflix (

NFLX, Financial), trimming 1.42% off its equity portfolio.

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Although shares averaged $417.64 during the first quarter, shares of Netflix traded around $191.50 on Thursday. The stock is significantly undervalued based on Thursday’s price-to-GF Value ratio of 0.31.

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The Los Gatos, California-based streaming giant has a GF Score of 77 out of 100: Although the company has a growth rank of 10 out of 10, a profitability rank of 9 out of 10 and a financial strength rank of 6 out of 10, Netflix’s momentum and GF Value rank below 2 out of 10.

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Zoom Video Communications

The firm sold 5,090,493 shares of Zoom Video Communications (

ZM, Financial), slicing 83.04% of the position and 2.03% of its equity portfolio.

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Shares of Zoom averaged $136.23 during the first quarter. GuruFocus’ GF Value line labeled the stock as a possible value trap due to the low price-to-GF Value ratio of 0.18.

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The San Jose, California-based video communications company has a GF Score of 72 out of 100, driven by a financial strength rank of 9 out of 10, a growth rank of 7 out of 10 and a profitability rank of 6 out of 10 despite GF Value ranking just 2 out of 10 and momentum ranking just 3 out of 10.

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Uber Technologies

The firm sold 16,785,573 shares of Uber Technologies (

UBER, Financial), slashing 93.1% of the position and 1.54% of its equity portfolio.

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The San Francisco-based rideshare company has a GF Score of 46 out of 100 based on a growth rank of 5 out of 10, a GF Value rank of 4 out of 10 and a rank of 3 out of 10 for financial strength and profitability. Despite this, the stock does not have enough data to compute a momentum rank and thus, the GF Score may give an incomplete picture of the company’s potential.

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Amazon.com

The firm sold 205,549 shares of Amazon.com (

AMZN, Financial), curbing 58.18% of the position and 1.49% of its equity portfolio.

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While shares of Amazon.com averaged $3,092.09 during the first quarter, the stock traded around $2,219.01 on Thursday. The stock is significantly undervalued based on Thursday’s price-to-GF Value ratio of 0.59.

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The Seattle-based e-commerce giant has a GF Score of 92 out of 100 based on a growth rank of 10 out of 10, a profitability rank of 9 out of 10, a momentum rank of 7 out of 10, a financial strength rank of 6 out of 10 and a GF Value rank of 4 out of 10.

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I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours. Click for the complete disclosure
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