Tiger Global Management LLC was the most successful hedge fund during the last fiscal year, after it returned 45% on its $5.6 billion worth of assets under management. The company was founded by Chase Coleman in the year 2001, and has since grown to be a force to reckon with, in the hedge fund industry. The company has acquired a stake in Facebook Inc. (NASDAQ:FB) according to the Q2 Form 13F filing.
Chase Coleman’s second quarter purchases have contributed immensely in the top 10 holding list that accounts for approximately 73% of the total fund value. The world’s most valuable tech company, Apple Inc. (NASDAQ:AAPL) is the company’s biggest asset in terms of value, with 13.68% of the funds invested in the company. Yandex NV (NASDAQ:YNDX) is yet another counter that has attracted a majority of Tiger’s funds, with 10.2% of the funds invested in the search engine company, head-quartered in Russia.
Marathon Partners Equity Management, the equity long/short hedge fund founded in 1997, added 8.03% in the second quarter of 2021. Q2 2021 hedge fund letters, conferences and more According to a copy of the hedge fund's second-quarter investor update, which ValueWalk has been able to review, the firm returned 3.24% net in April, 0.12% in Read More
Additionally, among the top ten of Tiger’s portfolio is Priceline.com Inc (NASDAQ:PCLN). The online travel company has attracted 9.65% of the company’s funds, while the search engine giant, Google Inc (NASDAQ:GOOG) is represented by 8.77% in the funds portfolio. In fifth position is Liberty Global Inc. (NASDAQ:LBTYA), which holds 6.58% of the overall portfolio.
Tiger Global has acquired a huge stake in Facebook Inc (NASDAQ:FB). The company bought 1,958,448 shares of Facebook Inc (NASDAQ:FB), valued at $39,913,170, which represents a 1.02 percentage change in the company’s portfolio. According to Business Insider, the company had invested in the social media giant even before it became a public company. However, after observing the markets, it seems that Tiger Global believes its purchase price of approximately $20.38, is a good buy.
The most notable addition to the existing counters went to the tech giant, Apple Inc. (NASDAQ:AAPL), which lifted its value in the portfolio to the top of the list. The company acquired 175,000 shares, to up its total holding in the tablet manufacture leader to 1,400,000, valued at $844,366,000. The additional shares accounted for $110,545,750.
Another huge addition was recorded against the LinkedIn Corporation (NYSE:LNKD) counter, where the company bought 3,021,355 shares valued at $307,453,085, which was more than 1000% of the company’s initial stake in the giant professional networking company.
Other positions added include Liberty Global Inc. (NASDAQ:LBTYA), which now lies in the fifth position in the company’s portfolio as highlighted earlier, and the China based search engine giant Baidu Inc. (NASDAQ:BIDU), where the company now holds 1.48 million shares, among others.
Tiger Global reduced its stake in Yandex NV (NASDAQ:YNDX), after it sold $161.6 million worth of its initial stake to remain with 32 million shares, which contributed to the company’s relegation to position two in the fund’s portfolio. Live Nation Entertainment, Inc. (NYSE:LYV) was yet another reduction, after Tiger sold 37.86% of its stake for a value estimated at approximately $53 million.
Other notable reductions were experienced in the counters of Frontier Communications Corp (NASDAQ:FTR), Homeaway Inc. (NASDAQ:AWAY), and RenaissanceRe Holdings Ltd. (NYSE:RNR), among others.