"Tracking Chase Coleman’s Tiger Global Portfolio – Q2 2023 Update"
"… .….….This article is part of a series that provides an ongoing analysis of the changes made to Chase Coleman’s Tiger Global Management 13F stock portfolio on a quarterly basis. It is based on Tiger Global’s regulatory  filed on 8/14/2023. Please visit our  Portfolio series to get an idea of their investment philosophy and our  for the fund’s moves in Q1 2023.Chase Coleman’s 13F portfolio value increased from $10.99B to $11.97B this quarter. Recent 13F reports have shown 100+ positions. There are 30 stakes that are significantly large (more than 0.5% of the portfolio each) and they are the focus of this article. The largest five positions are Meta Platforms, Microsoft, Apollo Global, JD.com, and Take-Two Interactive. Together, they add up to ~57% of the entire 13F portfolio.Prior to founding Tiger Global Management in 2001, Chase Coleman was the technology analyst at Tiger Management from 1997 to 2000, making him a bona fide “tiger cub”. To know more about Julian Robertson and his legendary Tiger Management, check out .Note: Tiger Global gained 15.5% through May 2023. They lost ~56% last year.New Stakes:Eli Lilly & Company (LLY): LLY is a 2.84% of the portfolio position purchased this quarter at prices between ~$343 and ~$469 and the stock currently trades well above that range at ~$592.Novo-Nordisk (NVO): NVO is a very small 0.86% of the portfolio stake established during the quarter.Stake Disposals:Apple Inc. (AAPL), Block Inc. (SQ), MasterCard (MA), and XP Inc. (XP): These small (less than ~2.5% of the portfolio each) stakes were disposed during the quarter.Stake Increases:Meta Platforms (META) previously Facebook: META is currently the largest 13F position at ~21% of the portfolio. The stake was established in Q4 2016 at prices between $115 and $132. The buying continued through Q2 2019 at prices up to ~$200. Q4 2019 saw a ~25% selling at prices between $175 and $208. The three quarters through Q2 2021 had seen another ~42% selling at prices between ~$246 and ~$356. That was followed with a ~23% reduction in Q1 2022 at prices between ~$187 and ~$339. H2 2022 saw a stake doubling at prices between ~$89 and ~$183. That was followed by a ~15% stake increase this quarter. The stock currently trades at ~$312.Note: Meta has seen a previous roundtrip in the portfolio. A pre-IPO investment of ~54M shares was sold out by Q4 2012. The trade generated over $1B in profits.Apollo Global (APO), Intuit (INTU) and Take-Two Interactive (TTWO): These three stakes saw large increases in the last two quarters. The large (top three) ~8% APO stake was built at prices between ~$57 and ~$77. The stock currently trades well above that range at ~$91. The ~4% INTU position was built at prices between ~$376 and ~$460 and it is now at ~$548. TTWO is a ~6% position built during the last three quarters at prices between ~$94 and ~$148 and it now goes for ~$144.Taiwan Semi (TSM), : TSM is a 1.58% of the portfolio position established last quarter at prices between ~$74 and ~$98 and the stock currently trades at $91.47. There was a ~18% stake increase this quarter.Nvidia (NVDA), Lam Research (LRCX), Fleetcor Tech. (FLT), Uber Technologies (UBER), and Grab Holdings (GRAB): These four positions were built this quarter. The 2.22% NVDA stake was purchased at prices between ~$262 and ~$438 and the stock currently trades at ~$456. LRCX is a 1.83% of the portfolio position established at prices between ~$491 and ~$651 and it now goes for ~$656. The 1.65% FLT stake was purchased at prices between ~$207 and ~$254 and it currently trades at ~$274. UBER is a small 1.28% of the portfolio position established at prices between ~$30 and ~$44 and it now goes for $48.32. The very small 0.67% stake in GRAB saw a 27% stake increase this quarter.Stake Decreases:Microsoft Corporation (MSFT): MSFT is currently the second largest position at 16.13% of the portfolio. It was established in Q4 2016 at prices between $57 and $63 and increased by ~400% in Q2 2017 at prices between $65 and $72. Q1 2018 also saw a ~38% stake increase at prices between $85 and $97. Q4 2019 saw a ~30% selling at prices between $135 and $159 while in Q1 2021 there was a ~15% stake increase at prices between ~$212 and ~$240. The three quarters through Q2 2022 saw a ~60% selling at prices between ~$242 and ~$343. The stock is now at ~$339. There was a ~13% increase last quarter while this quarter saw a ~4% trimming.JD.com (JD) & Calls: JD was a ~5M share position first purchased in Q4 2014 at prices between $23.50 and $27. The next two quarters saw the position built up to a huge ~70M share position (~25% of the 13F portfolio at the time) at prices between $24 and $38. H2 2018 also saw a ~42% increase at prices between $19.25 and $39.50. Q2 2022 saw a ~37% selling at prices between $48.70 and $66.50.  That was followed with a ~27% reduction during Q4 2022 at prices between ~$37 and ~$60. It is their fourth largest 13F position at ~6% of the portfolio (21.07M shares). The stock is now at $31.72. The last quarter saw a ~10% increase while this quarter saw similar trimming.Amazon.com Inc. (AMZN): AMZN is now a ~4% of the portfolio stake. The position was established in Q2 & Q3 2015 at prices between ~$19 and ~$27. Q1 2016 had seen a two-thirds reduction at prices between ~$24 and $34. The following quarter saw a ~40% increase at prices between ~$29 and ~$37. There was a ~38% selling in Q4 2018 at prices between ~$67 and $101. Q4 2019 and Q1 2020 saw another ~22% reduction at prices between ~$85 and ~$109. The three quarters through Q2 2022 had seen the stake sold down by ~75% at prices between ~$102 and ~$185. Q4 2022 saw the position rebuilt at prices between ~$82 and ~$121. This quarter saw a ~62% reduction at prices between ~$98 and ~$130. The stock is now at ~$145.Alphabet Inc. (GOOG): GOOG is a 3.81% of the portfolio position purchased during Q2 2022 at prices between ~$106 and ~$144 and the stock currently trades at ~$139. The last quarter saw a ~125% stake increase at prices between ~$87 and ~$109 while this quarter saw a ~55% selling at prices between ~$104 and ~$128.Workday Inc. (WDAY): WDAY is a 3.77% of the portfolio stake built in 2020 at prices between ~$114 and ~$258 and the stock currently trades at ~$245. H1 2022 saw a ~68% selling at prices between ~$137 and ~$264. There was a ~135% stake increase in the next quarter at prices between ~$138 and ~$180. The last three quarters saw a ~37% selling at prices between ~$133 and ~$227.ServiceNow Inc. (NOW): NOW is a 3.42% of the portfolio position that saw a stake doubling in Q3 2020 at prices between ~$402 and ~$500. The two quarters through Q1 2021 had seen another ~45% stake increase at prices between ~$475 and ~$595. Q2 2022 saw a ~55% reduction at prices between ~$412 and ~$575. There was a similar increase during Q3 2022 at prices between ~$370 and ~$516. Q4 2022 saw a ~50% reduction at prices between ~$342 and ~$426. That was followed by a ~25% selling this quarter at prices between ~$431 and ~$574. The stock currently trades at ~$590.Zoominfo Technologies (ZI): ZI is a 1.43% of the portfolio position established during Q4 2022 at prices between ~$26 and ~$49 and the stock currently trades at $17.25. There was a ~20% increase last quarter while this quarter there was a ~10% trimming.NU Holdings (NU): NU had an IPO in December 2021. Shares started trading at ~$12 and currently go for $7.53. There was a ~90% reduction in the three quarters through Q4 2022 at prices between ~$3.25 and ~$8. This quarter also saw further selling. The position is now very small at 1.34% of the portfolio.Snowflake Inc. (SNOW): The 1.17% SNOW stake was built over the six quarters through Q1 2022 at prices between ~$180 and ~$392. There was a ~70% reduction in the next quarter at prices between ~$113 and ~$241. Q3 2022 saw a ~22% stake increase while last quarter saw a similar reduction. There was another ~60% selling this quarter at prices between ~$135 and ~$191. The stock currently goes for ~$163.Confluent Inc. (CFLT), Datadog Inc. (DDOG), DLocal Limited (DLO), Freshworks (FRSH), HubSpot Inc. (HUBS), and Kanzhun Ltd. (BZ): These small (less than ~1% of the portfolio each) stakes were reduced this quarter.Kept Steady:Sea Limited (SE): The 1.64% position in SE was first purchased in Q2 2018 at prices between $10.25 and $16.50. The next few quarters also saw further buying.  Q4 2019 saw a ~40% selling at prices between $26.70 and $40.25 while in the next six quarters there was a ~60% stake increase at prices between ~$91 and ~$358. There was a ~40% selling in Q2 2022 at prices between ~$57 and ~$133. That was followed with a ~63% reduction during Q4 2022 at prices between ~$41 and ~$65. The stock is now at $39.89.CrowdStrike Holdings (CRWD): CRWD is now a 1.10% of the portfolio stake. A large stake was established in Q2 2020 at prices between ~$55 and ~$105. Q3 2020 saw a ~50% stake increase at prices between ~$97 and ~$144. There was another ~17% stake increase in Q1 2022 at prices between ~$157 and ~$227. The two quarters through Q3 2022 saw a ~90% reduction at prices between ~$137 and ~$240. The stock currently trades at ~$171.Atlassian Corp plc (TEAM): The very small 0.56% TEAM stake was kept steady this quarter.Note: In July 2018, it was reported that Tiger Global has taken a ~$1B stake in Softbank (SFTBY). The stock was at ~$20 (split-adjusted) at the time and currently trades at $22.85.Below is a spreadsheet that shows the changes to Chase Coleman's Tiger Global Holdings 13F portfolio holdings as of Q2 2023:Source: John Vincent. Data constructed from Tiger Global's 13F filings for Q1 2023 and Q2 2023.4/7/2023 - Tiger gained 7.3% in Q1 2023 -Regulatory filings from 3/21/2023 to 6/14/2023: 13G – 6/12 – WEAV – 580K shares – 0.9% of business."