Every quarter, many money managers have to disclose what they’ve bought and sold, via “13F” filings. Their latest moves can shine a bright light on smart stock picks.
Today, let’s look at Tiger Global Management. The company’s reportable stock portfolio totaled $5.7 billion in value as of June 30, 2013, and contained just a few dozen stocks. Indeed, the top 10 holdings make up about 57% of the overall portfolio’s value.
So what does Tiger Global’s latest quarterly 13F filing tell us? Here are a few interesting details:
The biggest new holdings are Coca-Cola Enterprises, which bottles and distributes its namesake’s beverages, and telecom specialist QUALCOMM, Inc. (NASDAQ:QCOM). QUALCOMM, Inc. (NASDAQ:QCOM) is a top player in the smartphone world, supplying iDevices and Android devices alike with its chips. The company just posted third-quarter earnings, featuring revenue and earnings each up more than 30% and management upping projections. Bulls like its expansion into the health-care industry and telemedicine, and are hopeful about a joint venture with Alcatel-Lucent, while bears worry about Intel moving further into QUALCOMM, Inc. (NASDAQ:QCOM)’s turf. QUALCOMM, Inc. (NASDAQ:QCOM) hiked its dividend by 40% earlier this year, and its yield is now at 2.1%. Its dividend has been growing by more than 20% annually in recent years.
Among holdings in which Tiger Global Management increased its stake were fashion accessory specialist Vera Bradley and travel giant priceline.com. It reduced its stake in companies such as China’s YY and 3-D printing specialist 3D Systems Corporation (NYSE:DDD). You may not have heard of YY, but it’s one of the top social media companies, and recently reported a doubling of revenues, with earnings topping expectations. Its music and gaming operations are growing briskly, but my colleague Sean Williams would like to see a stronger track record of long-term growth, as consistency has eluded some other Chinese firms.
Meanwhile, 3D Systems Corporation (NYSE:DDD) has also been reporting strong growth. It has been upping its share count, too, but bulls see it using that money to invest in growth and has also been posting positive earnings. 3-D printing is still in its infancy, with much promise, and 3D Systems Corporation (NYSE:DDD) is well positioned within the industry. It has been growing in part via acquisitions, and while some see the stock as a bit overvlaued now, others see it having more room to grow.