In this article, we discuss Tiger Global’s top 5 stocks picks and performance. If you want to read our detailed analysis of Tiger Global’s founder Chase Coleman’s history and hedge fund performance, go directly to Tiger Global’s Top 10 Stocks Picks and Performance.
5. CrowdStrike Holdings, Inc. (NASDAQ: CRWD)
Coleman’s Stake Value: $1,375,578,000
Percentage of Chase Coleman’s 13F Portfolio: 3.16%
Number of Hedge Fund Holders: 77
CrowdStrike Holdings, Inc. (NASDAQ: CRWD) is an American cybersecurity technology company. The company was incorporated in 2011 and is ranked fifth on the list of Tiger Global’s top 10 stocks picks. CrowdStrike shares have gained about 121.65% in value over the last 12 months. The stock is up 44.76% since March 31.
On July 12, Gregg Moskowitz raised the price target on CrowdStrike Holdings, Inc. (NASDAQ: CRWD) to $295 from $255 and kept a “Buy” rating on the shares. On June 3, CrowdStrike posted earnings results for the first three months of 2021. The earnings per share was $0.10, beating market predictions by $0.04. The revenue over the period was $302.84 million, beating the estimates by $11.07 million. The company has set its second-quarter revenue guidance to $318.3 – $324.4 million, versus the consensus estimates of $311.56 million. The company has also set its earnings per share target of $0.07 – $0.09 vs. a consensus estimate of $0.06 during the period.
The hedge fund chaired by Chase Coleman owns more than 7 million shares in CrowdStrike Holdings, Inc. (NASDAQ: CRWD), worth $1.38 billion, representing 3.16% of their investment portfolio.
Carillon Tower Advisers, in its first quarter 2021 investor letter, mentioned CrowdStrike Holdings, Inc. (NASDAQ: CRWD). Here is what the fund said:
“CrowdStrike provides cloud-based software used in the security of computers, servers, and mobile phones. The stock pulled back a bit during the quarter as investor sentiment shifted away from stocks with higher valuation multiples. We remain shareholders, as the protection of enterprise assets and cloud workloads from various forms of cyberattacks remains more important than ever for many enterprises, and we believe this will continue to result in a strong demand environment for CrowdStrike’s innovative products and services.”
4. Carvana Co. (NYSE: CVNA)
Coleman’s Stake Value: $1,577,787,000
Percentage of Chase Coleman’s 13F Portfolio: 3.62%
Number of Hedge Fund Holders: 64
Carvana Co. (NYSE: CVNA) is an online used car retailer. The company was founded in 2012 and is ranked fourth on the list of Tiger Global’s top 10 stocks picks. Carvana shares have returned 90.89% to investors over the past year. The stock is up 26.11% since March 31.
On July 28, Wells Fargo analyst Zachary Fadem raised the price target on Carvana Co. (NYSE: CVNA) to $385 from $360 and maintained an “Overweight” rating on the shares. On June 30, the company announced that it is expanding its footprint in Kansas and will now provide residents of the Wichita area, with as-soon-as-next-day touchless home delivery.
Customers can browse more than 30,000 used automobiles for sale, apply for auto financing or utilize the car loan calculator, buy, trade-in, and schedule next-day vehicle delivery. On May 6, Carvana Co. (NYSE: CVNA) declared earnings for the first quarter of 2021. It reported earnings per share of -$0.46, beating the estimates by $0.21. The revenue for the first three months of 2021 was over $2 billion, up 104.5% YoY, beating the estimates by $300 million.
Tiger Global Management LLC holds 6.01 million shares in Carvana Co. (NYSE: CVNA), worth over $1.58 billion, representing 3.62% of their portfolio. In addition, hedge fund sentiment increased for Carvana in the first quarter of 2021. Insider Monkey’s data shows that 64 elite hedge funds held stakes in the company at the end of the first quarter, up from 63 funds a quarter earlier.
Steel City Capital, in its first quarter 2021 investor letter, mentioned Carvana Co. (NYSE: CVNA). Here is what the fund said:
“Carvana’s (CVNA) 4Q’20 results weren’t particularly great. EBITDA was negative ($70) million, a stark turnaround on a sequential basis from a first-ever EBITDA profit of $21 million in 3Q’20. The culprit was a steep drop off in retail unit GPU ($1,265 vs. $1,857) and wholesale unit GPU ($358 vs. $1,113) as some of the COVID-driven aberrations in the used car market began to abate.
The company’s presentation of EBITDA (calculated “bottom up”) is dubious, as it commingles non-operating items including mark-to-market changes in its retained securitization portfolio. With the exception of 1Q’20, when ABS markets were going haywire, this line item provided a tailwind throughout 2020, including a gain of $5 million in 4Q’20. Also on the non-operating self-help front, management released a reserve for vehicle service contract cancellations in 4Q’20, adding another $7 million to EBITDA, and boosting “Other” GPU by $96.
Putting it all together, I put operating EBITDA closer to negative ($82) million vs. the $70 million printed by the company. This is a larger loss than 4Q’19 (calculated on a similar operating basis) despite the company selling 43% more retail units y/y!…” (Click here to see the full text)
3. Apollo Global Management, Inc. (NYSE: APO)
Coleman’s Stake Value: $1,641,284,000
Percentage of Chase Coleman’s 13F Portfolio: 3.77%
Number of Hedge Fund Holders: 44
Apollo Global Management, Inc. (NYSE: APO) is a global alternative investment management firm. It was founded in 1990 and is ranked third on the list of Tiger Global’s top 10 stocks picks. Apollo shares have returned 22.82% to investors during the course of the past 12 months. The stock is up 29.53% since March 31.
On July 15, Apollo Global Management, Inc. (NYSE: APO) announced that Arthur Kill Terminal granted its affiliates the exclusive right to invest in the Arthur Kill Terminal (AKT) project, a large offshore wind energy staging and assembly port now under construction in Staten Island, New York. The Arthur Kill Terminal project is coordinating with the company’s renewable energy infrastructure capabilities. On July 12, Citi analyst William Katz raised the price target on Apollo Global to $76 from $72 and kept a “Buy” rating on the shares.
Tiger Global Management LLC holds more than 34 million shares in Apollo Global Management, Inc. (NYSE: APO) worth $1.64 billion, representing 3.77% of their investment portfolio. In addition, there were 44 hedge funds in our database that held stakes in Apollo Global at the end of the first quarter of 2021, compared to 30 funds in the quarter earlier.
2. Sea Limited (NYSE: SE)
Coleman’s Stake Value: $2,121,913,000
Percentage of Chase Coleman’s 13F Portfolio: 4.88%
Number of Hedge Fund Holders: 98
Sea Limited (NYSE: SE) is a consumer internet company. The company was incorporated in 2009 and is placed second on the list of Tiger Global’s top 10 stocks picks. The shares of Sea Limited have shown an impressive performance over the last 12 months, gaining 94.52% in value. The stock is up 31.48% since March 31.
On July 22, Morgan Stanley analyst Mark Goodridge raised the price target on Sea Limited (NYSE: SE) to $320 from $300 and kept an “Overweight” rating on the shares. On May 18, Sea Limited posted earnings results for the first three months of 2021. The earnings per share was -$0.62, missing market predictions by $0.07. However, the revenue over the period was $1.8 billion, beating the estimates by $20 million.
Tiger Global Management LLC holds 9.51 million shares in Sea Limited (NYSE: SE) worth over $2 billion, representing 4.88% of their portfolio.
ClearBridge Investments, in its second quarter 2021 investor letter mentioned Sea Limited (NYSE: SE). Here is what ClearBridge Investments has to say about Sea Limited:
“We have also been active in managing our growth exposure in the IT and Internet sectors. In addition to sales of several emerging growth names, we added a new emerging growth company in Sea Limited. Sea operates a leading global video game platform (Garena), the leading e-commerce platform in Southeast Asia (Shopee) and an emerging payments/digital banking segment (SeaMoney). While the company is investing heavily into e-commerce and payments, we like the fact that this growth is being funded by its highly profitable gaming segment. We see a long runway for growth across Sea’s businesses with multiple opportunities like e-commerce expansion in Latin America not fully factored into the valuation today. The company also has a well-respected management team that has successfully executed in expanding its total addressable market.”
1. Roblox Corporation (NYSE: RBLX)
Coleman’s Stake Value: $2,621,003,000
Percentage of Chase Coleman’s 13F Portfolio: 6.02%
Number of Hedge Fund Holders: 46
Roblox Corporation (NYSE: RBLX) develops and manages an online entertainment platform. The company was incorporated in 2004 and is ranked first on the list of Tiger Global’s top 10 stocks picks. Roblox shares have offered investors returns of 16.37% in the past 3 months. The stock is up 25.94% since March 31.
On July 13, Benchmark analyst Mike Hickey initiated a coverage on Roblox Corporation (NYSE: RBLX), rating the stock as “Sell,” with a price target of $75. On May 10, Roblox posted earnings results for the first three months of 2021. The earnings per share was -$0.46, missing market predictions by $0.24. The bookings over the period were $652.3 million, up 161% YoY, beating the estimates by $572.3 million.
The stock is a new arrival on Chase Coleman’s portfolio, as his hedge fund bought more than 40 million shares in Roblox Corporation (NYSE: RBLX) worth over $2.62 billion. This represents 6.02% of their portfolio. The company is also getting the attention of the smart money, as 46 hedge funds tracked by Insider Monkey reported owning stakes in the company at the end of the first quarter of 2021.
Guardian Fund, in its second quarter 2021 investor letter, mentioned Roblox Corporation (NYSE: RBLX). Here is what Guardian Fund has to say about Roblox Corporation in its letter:
“The wonder-tale stories of children’s books show us that there are infinite possibilities of stories and worlds. The metaverse, the idea that describes the shared 3D spaces in a virtual universe, is enabling people to create fiction. Over the past six months, we initiated a new investment in Roblox. The firm was founded in 1989 by David Baszucki and Erik Kassel when they programmed a physics lab where students could study how cars would crash.
Today, Roblox has become a leading platform with a mission to build a human co-experience that enables billions of users to play, learn, and build friendships in the metaverse. Recent advances in cloud computing, computing devices, and machine learning, enable the materialization of the metaverse. Take what we have in virtual reality today and fast-forward a few decades. Humans will be able to experience unimaginable things and in a couple of millennia virtual economies are likely to become bigger than the physical trade on planet Earth.
Over the first quarter of 2021, Roblox reported 140% revenue growth, 42.1 million daily active users, and 9.7 billion engaged hours. The opportunity for this platform is massive.”
You can also take a peek at 16 Best Beginner Stocks to Invest in Right Now and 10 Best Asian Stocks to Buy Now.
