Tiger Global Puts Rough First-Half Behind It As Priceline (PCLN), JD.Com (JD), Other Favorites Post Big Q3

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Tiger Global owned 750,000 shares of Priceline.com Inc (NASDAQ:PCLN) on June 30, valued at $936.31 million and ranking it as the third-most valuable stock holding of the fund, and it grew more valuable during Q3, as shares surged by 18% to nearly $1,500. In its second-quarter investor letter, Tiger Global said that Priceline “benefits from low supplier concentration given the extremely fragmented hotel market globally and its relationships with over 800,000 hotels, vacation homes and urban residences.”

Heading into the third quarter of 2016, a total of 85 of the hedge funds tracked by Insider Monkey were long Priceline, a 2% dip from the end of the March quarter. The largest stake in Priceline.com Inc (NASDAQ:PCLN) was held by Lone Pine Capital, managed by a fellow Tiger Cub Stephen Mandel, which reported holding $1.39 billion worth of Priceline shares as of the end of June. Other investors bullish on the company included Citadel Investment Group, Maverick Capital, and Egerton Capital Limited.

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Finally, Tiger Global owned 44 million ADRs of JD.Com Inc (ADR) (NASDAQ:JD) at the end of the second quarter, unchanged during the period. Other hedge funds were growing more bearish on the company and China in general during that time, as a total of 51 of the hedge funds tracked by Insider Monkey held long positions in JD.Com on June 30, a 30% slide from the end of the first quarter of 2016. JD.Com rebounded from being near its 52-week-lows at the end of June to post greater than 20% gains during the third-quarter.

According to Insider Monkey’s hedge fund database, Hillhouse Capital Management, managed by Lei Zhang, holds the most valuable position in JD.Com Inc (ADR) (NASDAQ:JD). Hillhouse Capital Management has a $2.61 billion position in the stock, comprising 65.9% of its 13F portfolio. Other hedge funds and institutional investors that hold long positions comprise William B. Gray’s Orbis Investment Management, Andreas Halvorsen’s Viking Global, and Philippe Laffont’s Coatue Management.

Disclosure: None

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