Tiger Global Management LLC, which is managed by Chase Coleman, while Feroz Dewan manages the firm’s hedge fund, has disclosed its equity positions as of the 31st of December 2014, in its latest 13F filing with the SEC. The firm took 25 new positions, made additional purchases on 11 previously held stocks, and closed its stake in 8 companies. While Alibaba Group Holding Ltd (NYSE:BABA) was the most significant of the new stakes initiated, Twenty-First Century Fox Inc (NASDAQ:FOXA), Mastercard Inc (NYSE:MA), TransDigm Group Incorporated (NYSE:TDG) and Bitauto Hldg Ltd (ADR) (NYSE:BITA) formed the highest percentage in terms of portfolio value.
Founded in 2001 by Chase Coleman, Tiger Global Management LLC is an offshoot of Tiger Management, one of the oldest hedge funds, managed by the legendary Julian Robertson. Coleman is one of those ‘Tiger Cubs’, the name given to hedge funds managers who were once employed by Robertson, who often seeded those funds to get them started; ‘tiger seed’. Tiger Global’s annualized return since its inception is 22.2%. Even for 2014, when many hedge funds struggled to post substantial returns, Tiger Global was able to deliver 16.9% returns. Tiger Global currently has $21.2 billion worth of regulatory assets under management.
Tiger Global disclosed 5.82 million shares of Alibaba Group Holding Ltd (NYSE:BABA), which amounted to an investment of $604.5 million at the end of December. However, considering the beating that Alibaba Group Holding Ltd (NYSE:BABA) has taken during this year, on account of missing the estimated revenue mark in its third quarter earnings report, the fund’s portfolio has in all probability taken a serious hit given the sizable stake that it had in the Chinese e-commerce giant at the end of the filing period. Alibaba posted revenues of $4.22 billion as compared with the estimated $4.45 billion.
Other hedge funds which purchased shares of Alibaba during the quarter include Dan Loeb’s Third Point and Jeffrey Ubben’s Starboard Value. They added 2.80 million and 400,000 shares respectively.
Twenty-First Century Fox Inc (NASDAQ:FOXA) occupied the spot of highest percentage contribution in Tiger Global’s portfolio, totalling 7.62%. No changes were made in the position during the fourth quarter and its value stood at about $645 million.
Despite beating the earnings estimates in its second quarter earnings report, the media and entertainment company has seen its stock price slide by nearly 10% since the start of this year. Headwinds for the company include a tough future outlook for network TV and also FX challenges.