Tiger Global, founded by the legendary investor Chase Coleman, went on a selling spree in the last quarter. The most notable complete exits were Apple Inc. (NASDAQ:AAPL), Google Inc (NASDAQ:GOOG) and J.C. Penney Company, Inc. (NYSE:JCP). So good move on JCP but bad timing on Apple, as Tiger Global just missed Icahn’s briefly worded Apple Inc. (NASDAQ:AAPL) shakeup on Twitter.
Other holdings that Tiger Global said goodbye to were Baidu.com, Inc. (NASDAQ:BIDU), Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR) and Lululemon Athletica inc. (NASDAQ:LULU).
Tiger cubs slashes Groupon, takes profits on Netflix
Tiger Global reduced its position in Groupon Inc (NASDAQ:GRPN) by over 70%, the hedge fund had been buying up shares of the daily deals company through the last couple of quarters, shares of GRPN were up 68% in the first half of the year. WSJ’s Rolfe Winkler has an interesting review on how Tiger Global sold major portion of Groupon all too soon.
There was consensus among large tiger cubs when it came to Netflix, Inc. (NASDAQ:NFLX), Tiger Global, Blue Ridge Capital and Coatue Management, all took profits and decreased their positions in the company. Netflix rose a whopping 136% in the first six months of 2013. Tiger Global cut its holding in NFLX to half, but the fund still holds 315K shares of the company.
Charter Communications, Inc. (NASDAQ:CHTR) was also slashed by Tiger Global, as the fund sold 861K shares of the company. Other hedge funds who have significantly reduced their holdings in Charter Communications, Inc. (NASDAQ:CHTR) in Q2 are Citadel Advisors, Wellington Management and Contrarian Capital.
Tiger Global buys Qualcomm, Coca-Cola
Tiger bought new positions in 1.4 million shares of QUALCOMM, Inc. (NASDAQ:QCOM) and 5.4 million shares of Coca-Cola Enterprises Inc (NYSE:CCE) in the last quarter. The fund also opened new positions in TransDigm Group Incorporated (NYSE:TDG) and Vitamin Shoppe Inc (NYSE:VSI).
The fund increased existing holdings in Carter’s, Inc. (NYSE:CRI), Dollar General Corp. (NYSE:DG), Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) and Priceline.com Inc (NASDAQ:PCLN).