Chase Coleman (Trades, Portfolio), a noted tech investor, disclosed that he acquired six stocks in the tech space during the first quarter.
The former mentee of legendary investor Julian Robertson (Trades, Portfolio) at hedge fund Tiger Management has gotten in on the early stages of companies such as Facebook (FB, Financial) and Spotify (SPOT, Financial). The public equity side of his firm, Tiger Global Management, focuses on “deep due diligence on individual companies and long-term secular themes,” according to a description.
At first quarter-end, Coleman’s long portfolio had a 41.5% sector weighting in tech and 40.19% weighting in consumer cyclical (which contains many online retail companies like JD.com and Amazon.com and media juggernaut Netflix Inc.). JD.com (JD, Financial) is his largest holding at nearly 10% of the portfolio, followed by Fiat Chrysler Automobiles NV (FCAU, Financial) and Amazon.com (AMZN, Financial).
The entire portfolio listed 69 stocks, valued around $18.1 billion. Tiger Global Management has approximately $26 billion in assets under management. Its hedge fund generated a 13.6% return in 2018, according to CNBC.
In the first quarter, Coleman’s new positions were: RingCentral Inc. (RNG, Financial), Twilio Inc. (TWLO, Financial), Carvana Co. (CVNA, Financial), 8x8 Inc. (EGHT, Financial), MongoDB Inc. (MDB, Financial) and Smartsheet Inc. (SMAR, Financial).
His largest additions to existing holdings during the quarter were a 64.52% increase to third-largest holding Facebook Inc. and 42.82% increase to Netflix Inc. (NFLX).
RingCentral Inc. (RNG, Financial)
Coleman purchased 1,355,266 shares of RingCentral Inc., giving it 0.81% portfolio weight. The stock’s first-quarter share price averaged $98.
RingCentral Inc has a market cap of $9.72 billion; its shares were traded around $118.66 Thursday with a price-sales ratio of 13.12.
Coleman purchased 2.08 million shares of Twilio, giving it 0.75% portfolio weight. The stock’s first-quarter share price averaged $112.
Twilio Inc. has a market cap of $16.65 billion; its shares were traded around $131.83 Thursday with a price-sales ratio of 18.05.
Coleman purchased 2.05 million shares of Carvana, giving it 0.66% portfolio weight. The stock’s first-quarter share price averaged $42.
Carvana Co. has a market cap of $9.34 billion; its shares were traded around $63.92 Thursday with a price-sales ratio of 0.97.
Coleman purchased 4.73 million shares of 8x8 Inc., giving it 0.53% portfolio weight. The stock’s first-quarter share price averaged $20.
8x8 Inc. has a market cap of $2.24 billion; its shares were traded around $23.28 Thursday with a price-sales ratio of 6.23.
Coleman purchased 232,300 shares of MongoDB, giving it 0.19% portfolio weight. The stock’s first-quarter share price averaged $102.
MongoDB Inc. has a market cap of $7.6 billion; its shares were traded around $138.15 Thursday with a price-sales ratio of 27.09.
Smartsheet Inc. (SMAR, Financial)
Coleman purchased 230,000 shares of Smartsheet, giving it 0.05% portfolio weight. The stock’s first-quarter share price averaged $34.
Smartsheet Inc. has a market cap of $4.39 billion; its shares were traded around $41.39 with a price-sales ratio of 13.39.
Coleman also sold out of four positions: Autodesk Inc. (ADSK), Coupa Software Inc. (COUP), Puxin Ltd. (NEW) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX).
See Chase Coleman (Trades, Portfolio)’s portfolio here.
Read more here:
Dr. Michael Burry Buys 3 Stocks, Makes JD.com Largest Position in 1st Quarter
Stanley Druckenmiller Boosts Tech Stocks in 1st-Quarter Buying Spree
Prem Watsa Buys Buffett's Red Hat, Boosts Micron in 1st Quarter
Not a Premium Member of GuruFocus? Sign up for a free 7-day trial here.
