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Chase Coleman’s Tiger Global Management Portfolio: 10 New Stock Picks

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·7 min read
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In this article, we discuss the top 10 new stock picks of Chase Coleman's Tiger Global Management LLC. If you want to skip our detailed analysis of these stocks, go directly to Chase Coleman's Tiger Global Management LLC Portfolio: 5 New Stock Picks.

Chase Coleman founded Tiger Global Management in March 2001, and has been a partner and portfolio manager at the investment firm since its inception. Coleman is an American billionaire hedge fund manager, who graduated in 1997 from Williams College, beginning his investment career the same year with Julian Robertson’s hedge fund, Tiger Management.

Robertson closed Tiger Management in 2000, and handed $25 million to Chase Coleman, which Coleman used as seed money to form his own hedge fund, Tiger Global Management. The firm seeks long-term risk adjusted returns, focusing on private and public companies in the global internet technology, consumer discretionary, and communications sectors. Tiger Global is based in New York, with affiliate offices in Hong Kong, Beijing, Singapore, Bangalore, and Melbourne.

Securities at Tiger Global Management usually have ten-year investment horizons and are aimed towards growth-oriented companies, with a particular interest in businesses from the U.S., China, and India. The largest holding in Coleman’s Q3 portfolio is Microsoft Corporation (NASDAQ:MSFT), with over 13 million shares valued at $3.70 billion.

Chase Coleman, via Tiger Global Management, oversees a portfolio worth over $52 billion, in addition to discretionary assets under management of more than $79 billion, as per the 13F filings from September this year. Coleman purchased 24 new stocks, sold out of 4 securities, reduced holdings in 16 companies, and made additional purchases in 21 stocks by the end of the third quarter. His top buys for Q3 included Warby Parker Inc. (NYSE:WRBY), Sea Limited (NYSE:SE), Snowflake Inc. (NYSE:SNOW), and Robinhood Markets, Inc. (NASDAQ:HOOD). Whereas, Coleman reduced holdings in Roblox Corporation (NYSE:RBLX), Peloton Interactive, Inc. (NASDAQ:PTON), JD.com, Inc. (NASDAQ:JD), and Spotify Technology S.A. (NYSE:SPOT).

Chase Coleman's Tiger Global Management LLC Portfolio: 10 New Stock Picks
Chase Coleman's Tiger Global Management LLC Portfolio: 10 New Stock Picks

Chase Coleman of Tiger Global

The top stocks from Chase Coleman’s Q3 portfolio include Microsoft Corporation (NASDAQ:MSFT), Amazon.com, Inc. (NASDAQ:AMZN), Meta Platforms, Inc. (NASDAQ:FB), and Netflix, Inc. (NASDAQ:NFLX), among others discussed in detail below.

Our Methodology

We used Chase Coleman’s Tiger Global Management's Q3 portfolio to select the top 10 new stock picks of the hedge fund from the third quarter.

Tiger Global added these stocks to its portfolio in the third quarter.

Each stock was ranked according to Tiger Global’s stake value in the holding. For further context on the companies, we have mentioned Q3 earnings, the hedge fund sentiment around each stock, and analyst ratings.

Chase Coleman's Tiger Global Management LLC Portfolio: New Stock Picks

10. AltC Acquisition Corp. (NASDAQ:ALCC)

Tiger Global Management LLC’s Stake Value: $39,320,000

Percentage of Tiger Global Management LLC’s 13F Portfolio: 0.07%

Number of Hedge Fund Holders: N/A

AltC Acquisition Corp. (NASDAQ:ALCC) was recently added to Coleman’s Q3 portfolio at Tiger Global Management, with the firm owning 4 million shares of AltC Acquisition Corp. (NASDAQ:ALCC), worth $39.32 million, representing 0.07% of the total Q3 investments. AltC Acquisition Corp. (NASDAQ:ALCC) is a blank check company, formed with the intention of carrying out business combinations including mergers, capital stock exchange, asset acquisition, and corporate restructuring.

AltC Acquisition Corp. (NASDAQ:ALCC) stock was listed at the New York Stock Exchange on July 8 for an IPO, with 45 million shares of Class A common stock at $10.00 per share. AltC Acquisition Corp. (NASDAQ:ALCC) has yet to carry out a business combination.

In addition to Microsoft Corporation (NASDAQ:MSFT), Amazon.com, Inc. (NASDAQ:AMZN), Meta Platforms, Inc. (NASDAQ:FB), and Netflix, Inc. (NASDAQ:NFLX), AltC Acquisition Corp. (NASDAQ:ALCC) is a notable stock from Chase Coleman’s Q3 portfolio.

9. AvePoint, Inc. (NASDAQ:AVPT)

Tiger Global Management LLC’s Stake Value: $42,450,000

Percentage of Tiger Global Management LLC’s 13F Portfolio: 0.08%

Number of Hedge Fund Holders: 11

AvePoint, Inc. (NASDAQ:AVPT), one of Coleman’s top stock picks from the third quarter, is a leading independent vendor of SaaS solutions, offering Microsoft 365 data management services worldwide. Tiger Global Managements holds a $42.45 million stake in AvePoint, Inc. (NASDAQ:AVPT), which accounts for 0.08% of the hedge fund’s total investments.

As of September this year, 11 hedge funds in the database of Insider Monkey reported owning stakes worth roughly $80 million in AvePoint, Inc. (NASDAQ:AVPT).

On November 15, the Q3 EPS for AvePoint, Inc. (NASDAQ:AVPT) came in at $0.06, beating estimates by $0.05. The $53.93 million revenue also outperformed estimated revenue by $1.39 million.

8. BlackSky Technology Inc. (NYSE:BKSY)

Tiger Global Management LLC’s Stake Value: $51,750,000

Percentage of Tiger Global Management LLC’s 13F Portfolio: 0.09%

Number of Hedge Fund Holders: 21

BlackSky Technology Inc. (NYSE:BKSY) is a tech company leveraging artificial intelligence, cloud computing, multi-sensor data fusion, activity analysis, and autonomous satellites to deliver critical data alerts and data analytics. Tiger Global Management holds a $51.75 million position in BlackSky Technology Inc. (NYSE:BKSY) as of the third quarter of 2021, which accounts for 0.09% of the firm’s stock portfolio.

Out of the 867 hedge funds tracked by Insider Monkey at the end of Q3, 21 funds were bullish on BlackSky Technology Inc. (NYSE:BKSY), with total stakes amounting to $159.3 million.

The company’s revenue for the third quarter totaled $7.9 million, up 49% from the prior-year quarter. A net loss of $46.9 million equaled a loss of $0.67 per diluted share.

7. Toast, Inc. (NYSE:TOST)

Tiger Global Management LLC’s Stake Value: $62,438,000

Percentage of Tiger Global Management LLC’s 13F Portfolio: 0.11%

Number of Hedge Fund Holders: 38

Toast, Inc. (NYSE:TOST) is a Massachusetts-based company offering cloud based point of sale systems for restaurants and bars, and Toast, Inc. (NYSE:TOST)’s products and services are used widely across the US, by small restaurants to large enterprises. Chase Coleman holds 1.25 million Toast, Inc. (NYSE:TOST) shares as of Q3 2021, worth $62.4 million, representing 0.11% of his total investments.

Toast, Inc. (NYSE:TOST) posted its Q3 results on November 9. EPS for the quarter totaled -$1.05, missing estimates by -$0.78. Revenue for the period came in at $486.38 million, outperforming estimated revenue by $52.76 million.

Canaccord analyst David Hynes on November 16 raised the price target on Toast, Inc. (NYSE:TOST) to $64 from $60 and kept a Buy rating on the shares.

The Q3 database of Insider Monkey reported that 38 hedge funds were bullish on Toast, Inc. (NYSE:TOST), with a total stake value of $567.35 million.

6. Spire Global, Inc. (NYSE:SPIR)

Tiger Global Management LLC’s Stake Value: $62,650,000

Percentage of Tiger Global Management LLC’s 13F Portfolio: 0.12%

Number of Hedge Fund Holders: 17

Spire Global, Inc. (NYSE:SPIR) is a data and analytics company offering satellite-based maritime, aviation, and weather tracking. To date, Spire Global, Inc. (NYSE:SPIR) has launched more than 140 satellites for orbit, and is one of the largest companies offering commercial constellation services worldwide.

Chase Coleman, via Tiger Global Management, owns 5 million shares in Spire Global, Inc. (NYSE:SPIR), worth $62.65 million as of Q3 2021, representing 0.12% of the firm’s total portfolio.

At the end of September, 17 hedge funds tracked by Insider Monkey were long Spire Global, Inc. (NYSE:SPIR), with stakes valued at $176.85 million. This is compared to 27 funds being bullish on Spire Global, Inc. (NYSE:SPIR) in the preceding quarter, with a total stake value of $104.1 million.

Spire Global, Inc. (NYSE:SPIR) announced Q3 results on November 10. EPS in the quarter equaled -$0.24, missing analysts’ consensus estimates of -$0.09 by -$0.15. The company reported a $9.56 revenue for the third quarter, which was up 33.1% year-over-year.

In addition to Microsoft Corporation (NASDAQ:MSFT), Amazon.com, Inc. (NASDAQ:AMZN), Meta Platforms, Inc. (NASDAQ:FB), and Netflix, Inc. (NASDAQ:NFLX), Spire Global, Inc. (NYSE:SPIR) is a notable stock from Chase Coleman’s Q3 portfolio.

To see the rest of the stocks in this list click: Chase Coleman's Tiger Global Management LLC Portfolio: 5 New Stock Picks.

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Disclosure: None. Chase Coleman's Tiger Global Management LLC Portfolio: 10 New Stock Picks is originally published on Insider Monkey.