Tracking Chase Coleman's Tiger Global Portfolio - Q2 2024 Update

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Chase Coleman's Tiger Global Management's 13F portfolio increased from $18.3B to $21.63B, with 30 significant positions, led by Meta, Microsoft, Alphabet, Apollo Global, and Amazon.New stakes include ...

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Grafissimo This article is part of a series that provides an ongoing analysis of the changes made to Chase Coleman’s Tiger Global Management 13F stock portfolio on a quarterly basis. It is based on Tiger Global’s regulatory 13F Form filed on 08/14/2024. Please visit our Tracking Chase Coleman’s Tiger Global Portfolio series to get an idea of their investment philosophy and our last update for the fund’s moves in Q1 2024. Chase Coleman’s 13F portfolio value increased from $18.3B to $21.63B this quarter. Recent 13F reports have shown 50+ positions. There are 30 stakes that are significantly large (more than 0.5% of the portfolio each) and they are the focus of this article. The largest five positions are Meta Platforms, Microsoft, Alphabet, Apollo Global, and Amazon. Together, they add up to ~50% of the entire 13F portfolio. Prior to founding Tiger Global Management in 2001, Chase Coleman was the technology analyst at Tiger Management from 1997 to 2000, making him a bona fide “tiger cub”. To know more about Julian Robertson and his legendary Tiger Management, check out Julian Robertson: A Tiger in the Land of Bulls and Bears. New Stakes: UnitedHealth (UNH): UNH is a fairly large 5.53% of the portfolio position purchased this quarter at prices between ~$437 and ~$522 and the stock currently trades well above that range at ~$589. QUALCOMM Inc. (QCOM): The 1.71% of the portfolio QCOM stake was established this quarter at prices between ~$157 and ~$227 and the stock is now at ~$172. Applied Materials (AMAT): AMAT is a small ~1% of the portfolio position purchased this quarter at prices between ~$189 and ~$248. The stock currently trades near the bottom of that range at ~$193. Stake Increases: Sea Limited (SE): The 5.30% position in SE was first purchased in Q2 2018 at prices between $10.25 and $16.50. The next few quarters also saw further buying. Q4 2019 saw a ~40% selling at prices between $26.70 and $40.25 while in the next six quarters there was a ~60% stake increase at prices between ~$91 and ~$358. There was a ~40% selling in Q2 2022 at prices between ~$57 and ~$133. That was followed with a ~63% reduction during Q4 2022 at prices between ~$41 and ~$65. The position was rebuilt during Q3 2023 at prices between ~$35 and ~$67. The next quarter saw a ~25% stake increase at prices between ~$35 and ~$47. The stock is now at ~$81. The last two quarters saw a ~12% further increase. Eli Lilly and Company (LLY): LLY is a 3.89% of the portfolio position purchased in the two quarters through Q3 2023 at prices between ~$343 and ~$599 and the stock currently trades at ~$949. This quarter saw a minor ~5% stake increase. Taiwan Semi (TSM): TSM is a 2.47% of the portfolio position established during Q1 2023 at prices between ~$74 and ~$98. There was an ~18% stake increase during the next quarter and another ~10% during Q3 2023. Q4 2023 saw a ~50% further increase at prices between ~$85 and ~$105. The stock currently trades well above their purchase price ranges at ~$165. There was a marginal increase this quarter. Grab Holdings (GRAB): The 1.53% GRAB position saw a ~120% stake increase during Q3 2023 at prices between $3.24 and $3.83. The position was increased by 30% in the last quarter at prices between $2.92 and $3.53. There was a ~40% stake increase this quarter at prices between $3.16 and $3.74. The stock currently trades at $3.21. Stake Decreases: Corpay (CPAY): The 1.29% CPAY stake saw a two-thirds increase during Q4 2023 at prices between ~$222 and ~$283 and the stock currently trades at ~$304. This quarter saw a ~22% selling at prices between ~$250 and ~$316. ZoomInfo Technologies (ZI): ZI is a small 0.55% of the portfolio position established during Q4 2022 at prices between ~$26 and ~$49. The position was increased by 62% in the last quarter at prices between $15.11 and $18.32. This quarter saw a ~20% selling at prices between $11.78 and $16.62. The stock currently trades at $9.72. Kept Steady: Meta Platforms (META): META is currently the largest 13F position by far at 17.41% of the portfolio. The stake was established in Q4 2016 at prices between $115 and $132. The buying continued through Q2 2019 at prices up to ~$200. Q4 2019 saw a ~25% selling at prices between $175 and $208. The three quarters through Q2 2021 had seen another ~42% selling at prices between ~$246 and ~$356. That was followed with a ~23% reduction in Q1 2022 at prices between ~$187 and ~$339. H2 2022 saw a stake doubling at prices between ~$89 and ~$183. That was followed by a ~15% stake increase during Q2 2023. Q4 2023 saw a ~16% selling at prices between ~$288 and ~$358. The stock currently trades at ~$517. Note: Meta has seen a previous roundtrip in the portfolio. A pre-IPO investment of ~54M shares was sold out by Q4 2012. The trade generated over $1B in profits. Microsoft Corporation (MSFT): MSFT is currently the second-largest position at ~11% of the portfolio. It was established in Q4 2016 at prices between $57 and $63 and increased by ~400% in Q2 2017 at prices between $65 and $72. Q1 2018 also saw a ~38% stake increase at prices between $85 and $97. Q4 2019 saw a ~30% selling at prices between $135 and $159 while in Q1 2021 there was a ~15% stake increase at prices between ~$212 and ~$240. The three quarters through Q2 2022 saw a ~60% selling at prices between ~$242 and ~$343. The stock is now at ~$411. Alphabet Inc. (GOOG): GOOG is a large (top three) 8.68% of the portfolio position purchased during Q2 2022 at prices between ~$106 and ~$144. Q1 2023 saw a ~125% stake increase at prices between ~$87 and ~$109 while the next quarter saw a ~55% selling at prices between ~$104 and ~$128. The position was increased by 40% during Q3 2023 at prices between ~$117 and ~$139. The next quarter saw a ~25% selling at prices between ~$123 and ~$143. The position was increased by 154% in the last quarter at prices between ~$133 and ~$155. The stock currently trades at ~$165. Apollo Global (APO): The large (top five) 6.71% APO stake was built during H1 2023 at prices between ~$57 and ~$77. The stock currently trades well above that range at ~$113. Amazon.com, Inc. (AMZN): AMZN is now a top five 5.65% of the portfolio stake. The position was established in Q2 & Q3 2015 at prices between ~$19 and ~$27. Q1 2016 had seen a two-thirds reduction at prices between ~$24 and $34. The following quarter saw a ~40% increase at prices between ~$29 and ~$37. There was a ~38% selling in Q4 2018 at prices between ~$67 and $101. Q4 2019 and Q1 2020 saw another ~22% reduction at prices between ~$85 and ~$109. The three quarters through Q2 2022 had seen the stake sold down by ~75% at prices between ~$102 and ~$185. Q4 2022 saw the position rebuilt at prices between ~$82 and ~$121. Q2 2023 saw a ~62% reduction at prices between ~$98 and ~$130. There was a ~25% stake increase during Q4 2023 at prices between ~$120 and ~$154. The position was increased by 29% in the last quarter at prices between ~$145 and ~$180. The stock is now at ~$171. NVIDIA (NVDA): The 5.53% NVDA stake was purchased during H2 2023 at prices between ~$26 and ~$49 and the stock currently trades at ~$126. Note: The prices quoted above are adjusted for the 10-for-1 stock split in June. Take-Two Interactive (TTWO): TTWO is a ~4% position built during the four quarters through Q3 2023 at prices between ~$94 and ~$154 and it is now at ~$159. The position was increased by 9% in the last quarter at prices between ~$144 and ~$170. ServiceNow, Inc. (NOW): NOW is a 2.11% of the portfolio position that saw a stake doubling in Q3 2020 at prices between ~$402 and ~$500. The two quarters through Q1 2021 had seen another ~45% stake increase at prices between ~$475 and ~$595. Q2 2022 saw a ~55% reduction at prices between ~$412 and ~$575. There was a similar increase during Q3 2022 at prices between ~$370 and ~$516. The next quarter saw a ~50% reduction at prices between ~$342 and ~$426. That was followed by a ~25% selling during Q2 2023 at prices between ~$431 and ~$574. The stock currently trades at ~$814. Workday, Inc. (WDAY): WDAY is a 1.94% of the portfolio stake built in 2020 at prices between ~$114 and ~$258. H1 2022 saw a ~68% selling at prices between ~$137 and ~$264. There was a ~135% stake increase in the next quarter at prices between ~$138 and ~$180. The three quarters through Q2 2023 saw a ~37% selling at prices between ~$133 and ~$227. The next quarter saw a similar increase at prices between ~$211 and ~$252. There was a ~30% selling during Q4 2023 at prices between ~$205 and ~$279. The stock currently trades at ~$260. Lam Research (LRCX): LRCX is a 1.74% of the portfolio position established during Q2 2023 at prices between ~$491 and ~$651 and it now goes for ~$805. The last quarter saw a ~12% trimming. CrowdStrike Holdings (CRWD): CRWD is now a 1.59% of the portfolio stake. A large stake was established in Q2 2020 at prices between ~$55 and ~$105. Q3 2020 saw a ~50% stake increase at prices between ~$97 and ~$144. There was another ~17% stake increase in Q1 2022 at prices between ~$157 and ~$227. The two quarters through Q3 2022 saw a ~90% reduction at prices between ~$137 and ~$240. The stock currently trades at ~$264. Broadcom (AVGO): AVGO is a 1.35% of the portfolio stake established during Q4 2023 at prices between ~$81.50 and ~$115 and the stock currently trades at ~$158. Note: The prices quoted above are adjusted for the 10-for-1 stock split in July. Uber Technologies (UBER): UBER is a small ~1% of the portfolio position established during the two quarters through Q3 2023 at prices between ~$30 and ~$50. There was a ~40% selling in the next quarter at prices between ~$41 and ~$63. The stock is now at $71.85. Procore Technologies (PCOR): The 0.72% position in PCOR was increased by 46% in the last quarter at prices between $64.47 and $82.36. The stock currently trades below that range at $59.48. DoorDash (DASH), DexCom, Inc. (DXCM), Datadog, Inc. (DDOG), Elastic (ESTC), Liberty Media Formula One (FWONK), Nu Holdings (NU), and Novo Nordisk (NVO): These very small (less than ~1.1% of the portfolio each) stakes were kept steady this quarter. Note 1: They have significant ownership stakes in the following businesses: ATRenew (RERE), Oklo Inc. (OKLO), and ZKH Group (ZKH). Note 2: In July 2018, it was reported that Tiger Global has taken a ~$1B stake in SoftBank (OTCPK:SFTBY). The stock was at ~$20 (split-adjusted) at the time and currently trades at $28.30. Below is a spreadsheet that shows the changes to Chase Coleman's Tiger Global Holdings 13F portfolio holdings as of Q2 2024:   Chase Coleman - Tiger Global Portfolio - Q2 2024 13F Report Q/Q Comparison (John Vincent (author)) Source: John Vincent. Data constructed from Tiger Global's 13F filings for Q1 2024 and Q2 2024.  Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. 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