Hedge Fund Tiger Global Was Crushed In September

Tiger Global, which was founded by billionaire Chase Coleman, was crushed in September. We haven’t seen any other hedge fund losing this much in September (you can see their September returns for both their onshore and offshore funds below). According to the latest 13F filings Tiger Global’s biggest equity position was Twenty First Century Fox (FOXA) which lost 2.9%. His other big positions performed much worse. One of the biggest contributor to Tiger Global’s poor performance was Zillow (Z). Tiger Global had $450 million invested in the stock at the end of June. The stock lost 19.1% in September. There were 37 stocks in Tiger Global’s 13F portfolio at the end of June. Assuming that there aren’t any changes made to these positions, Tiger Global’s loss would have been 5.94% in September on the long side of their portfolio. Here is a table summarizing Tiger Global’s top 20 equity positions and their returns:

Tiger Global 2014 returns

Unfortunately Tiger Global’s gross loss during September was 9%. The net loss was 7.2% for both the onshore and offshore vehicles. “These figures are representative of total hedge fund performance and do not represent individual fund performance. Final estimates should be sent out by the 5th business day of the month,” the tech focused hedge fund said in an email to its investors. As you can see the losses in Tiger Global’s 13F portfolio don’t explain the fund’s entire performance. The fund either suffered losses on the short side of its portfolio and/or its non-US and private holdings performed much worse than the nearly 6% loss of its 13F holdings.