In this article, we discuss the top 10 stock picks of Chase Coleman’s Tiger Global Management. If you want to skip our detailed analysis of these stocks, go directly to Top 5 Stock Picks of Chase Coleman’s Tiger Global Management.
Chase Coleman founded Tiger Global Management in 2001, and currently serves as its chief executive officer and hedge fund manager. Coleman is a well known Tiger Cub, since he worked for Julian Robertson’s Tiger Management for almost four years as an investment analyst, before venturing out on his own and launching a hedge fund.
Tiger Global Management has a 13F portfolio valued at approximately $46 billion, as per the regulatory filings from the fourth quarter of 2021. Chase Coleman’s investments are focused mainly around the technology sector, and the billionaire’s portfolio also contains stocks from the consumer discretionary, finance, and communications sectors, with a top ten holdings concentration of 47.44%.
In Q4 2021, Tiger Global Management acquired 16 new stocks, made additional purchases in 29 securities, sold out of 8 companies, and reduced stakes in 21 holdings. The hedge fund’s top buys for the fourth quarter were XPeng Inc. (NYSE:XPEV), Datadog, Inc. (NASDAQ:DDOG), and JD.com, Inc. (NASDAQ:JD). Chase Coleman’s fund reduced holdings in Roblox Corporation (NYSE:RBLX), DocuSign, Inc. (NASDAQ:DOCU), and Warby Parker Inc. (NYSE:WRBY).
The most notable stocks in the Q4 portfolio of Chase Coleman’s Tiger Global Management included Mastercard Incorporated (NYSE:MA), Uber Technologies, Inc. (NYSE:UBER), and Netflix, Inc. (NASDAQ:NFLX).
Our Methodology
We used the 13F portfolio of Chase Coleman’s Tiger Global Management for the fourth quarter of 2021 for this analysis, selecting the top 10 stock picks of the hedge fund. The securities are ranked according to Tiger Global Management’s stake value in each holding.
Data from 924 elite funds monitored by the database of insider monkey in Q4 2021 was used to gauge the hedge fund sentiment around each stock.
Chase Coleman of Tiger Global
Top Stock Picks of Chase Coleman’s Tiger Global Management
10. ServiceNow, Inc. (NYSE:NOW)
Tiger Global Management’s Stake Value: $1,432,092,000
Percentage of Tiger Global Management’s 13F Portfolio: 3.11%
Number of Hedge Fund Holders: 90
ServiceNow, Inc. (NYSE:NOW) is a California-based software company that markets a cloud computing platform that manages digital workflows for enterprise-level businesses, in addition to offering IT service management.
Tiger Global Management first opened a position in ServiceNow, Inc. (NYSE:NOW) back in Q3 2017, and the hedge fund has gradually increased its stake to 2.20 million shares as of Q4 2021, worth $1.4 billion, representing 3.11% of the total 13F portfolio.
Hedge fund sentiment strengthened around ServiceNow, Inc. (NYSE:NOW) in the fourth quarter of 2021, as 90 funds reported owning bullish positions in the company, up from 87 funds in the preceding quarter. Lone Pine Capital held a large stake in ServiceNow, Inc. (NYSE:NOW), with more than 2 million shares worth $1.30 billion.
In its Q4 earnings report, published on January 26, ServiceNow, Inc. (NYSE:NOW) posted an EPS of $1.46, beating estimates by $0.03. Revenue for the quarter grew 29.09% year-on-year to $1.61 billion, surpassing estimates by $9.66 million. The shares surged 11% after Q4 results went live.
Oppenheimer analyst Ray McDonough on January 27 lowered the price target on ServiceNow, Inc. (NYSE:NOW) to $660 from $775 and kept an Outperform rating on the shares. The analyst noted that ServiceNow, Inc. (NYSE:NOW) reported “very solid” results in Q4 and set the 2022 top-line and margin targets above Street expectations despite headwinds.
Here is what ClearBridge Select Strategy has to say about ServiceNow, Inc. (NYSE:NOW) in its Q3 2021 investor letter:
“Offsetting the consumer slowdown, the Strategy benefited from resilience among its disruptive IT and communications holdings serving the enterprise market. ServiceNow is also a strong performer in helping businesses streamline their workflows and enhance customer relationships and marketing.”
9. CrowdStrike Holdings, Inc. (NASDAQ:CRWD)
Tiger Global Management’s Stake Value: $1,543,201,000
Percentage of Tiger Global Management’s 13F Portfolio: 3.35%
Number of Hedge Fund Holders: 74
CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is a Texas-based cybersecurity company that offers services including information security, endpoint security, security and IT operations, and security cloud. Chase Coleman held 7.5 million shares of CrowdStrike Holdings, Inc. (NASDAQ:CRWD), worth $1.5 billion, representing 3.35% of the total 13F securities in his portfolio.
On February 15, Mizuho analyst Gregg Moskowitz lowered the price target on CrowdStrike Holdings, Inc. (NASDAQ:CRWD) to $270 from $310 and kept a Buy rating on the shares. Despite strong demand, the analyst reduced price targets on “high-growth software vendors” to reflect the rising rate environment that has occurred over the past couple of months.
Among the hedge funds tracked by Insider Monkey in Q4 2021, Whale Rock Capital Management held a prominent position in CrowdStrike Holdings, Inc. (NASDAQ:CRWD), with more than 3 million shares worth approximately $626 million. Overall, 74 hedge funds were bullish on CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in the fourth quarter.
In addition to Mastercard Incorporated (NYSE:MA), Uber Technologies, Inc. (NYSE:UBER), and Netflix, Inc. (NASDAQ:NFLX), CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is a notable stock in the Q4 portfolio of Chase Coleman.
Here is what Carillon Tower Advisers has to say about CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in its Q4 2021 investor letter:
“CrowdStrike, a security software platform with leadership in protecting endpoints such as servers, computers, and other IT assets, delivered strong earnings results with exceptional recurring revenue and new customer growth. The firm’s shares were pressured in the quarter as valuation multiple compression punished high-growth stocks in a meaningful way. However, we don’t believe this to be company-specific and expect the firm to continue to execute well and exhibit positive fundamentals.”
8. Carvana Co. (NYSE:CVNA)
Tiger Global Management’s Stake Value: $1,683,469,000
Percentage of Tiger Global Management’s 13F Portfolio: 3.66%
Number of Hedge Fund Holders: 56
Carvana Co. (NYSE:CVNA) is a leading Arizona-based online used car retailer that has featured on Tiger Global Management’s portfolio since Q1 2019. The hedge fund increased its stake in Carvana Co. (NYSE:CVNA) by 19% in Q4 2021, holding 7.2 million shares worth $1.6 billion, representing 3.66% of the 13F securities.
On February 8, Truist analyst Naved Khan lowered the price target on Carvana Co. (NYSE:CVNA) to $300 from $390 but kept a Buy rating on the shares ahead of its Q4 results. The quarter should see stronger than expected average selling prices, but largely in-line retail unit volume, the analyst told investors in a research note.
In Q4 2021, 56 hedge funds reported owning stakes in Carvana Co. (NYSE:CVNA), collectively amounting to $7.2 billion. Daniel Sundheim’s D1 Capital Partners held the biggest position in Carvana Co. (NYSE:CVNA), with 4.2 million shares worth $976 million.
Here is what ClearBridge SMID Cap Growth Strategy has to say about Carvana Co. (NYSE:CVNA) in its Q3 2021 investor letter:
“On the sell side, we closed out of Carvana in the consumer discretionary sector as it surpassed the upper bound of our market capitalization range. Carvana, which operates the largest online used car platform, is an example of the innovative business models we seek out in companies.”
7. Meta Platforms, Inc. (NASDAQ:FB)
Tiger Global Management’s Stake Value: $1,699,623,000
Percentage of Tiger Global Management’s 13F Portfolio: 3.69%
Number of Hedge Fund Holders: 224
Meta Platforms, Inc. (NASDAQ:FB) is the parent company of Facebook, Instagram, and WhatsApp, and is one of the pioneers of the metaverse. Chase Coleman, via Tiger Global Management, owned over 5 million shares of Meta Platforms, Inc. (NASDAQ:FB), worth $1.69 billion, representing 3.69% of the fund’s Q4 securities.
On February 2, Meta Platforms, Inc. (NASDAQ:FB) reported its Q4 results, posting an EPS of $3.67, missing estimates by $0.15. The company’s revenue jumped roughly 20% year-over-year to $33.67 billion, surpassing estimates by $230.60 million.
Tigress Financial analyst Ivan Feinseth reiterated a Strong Buy rating and $466 price target on Meta Platforms, Inc. (NASDAQ:FB) on February 9, telling investors in a bullish thesis that near-term headwinds create a significant long-term buying opportunity. The analyst believes further upside in the shares exists.
Elite hedge funds pulled out of Meta Platforms, Inc. (NASDAQ:FB) between October and December 2021. According to the Q4 database of Insider Monkey, 224 hedge funds held long positions in Meta Platforms, Inc. (NASDAQ:FB), down from 248 funds a quarter earlier.
In Q4 2021, Fisher Asset Management elevated its Meta Platforms, Inc. (NASDAQ:FB) stake by 27%, holding 9.5 million shares of the company, worth $3.2 billion. Ken Fisher’s fund is a prominent Meta Platforms, Inc. (NASDAQ:FB) shareholder.
Here is what Canterbury Tollgate has to say about Meta Platforms, Inc. (NASDAQ:FB) in its Q3 2021 investor letter:
“To say traditional media is anti-Facebook would not be an overstatement. An already intense and multi-year critique of (or attack on) Facebook has ratcheted up in recent weeks. Facebook’s research efforts have been reported on, if often derided, for nearly a decade. Going back to 2014, Slate.com called their research practices “unethical” when FB tried to study the impact social posts had on users. Now those efforts have been turned against them for the kill shot.
My job is to observe, assess, and allocate. Not to commentate on all the whims and wishes of media narrative. However, in the case of Facebook I cannot avoid going into some detail re: the onslaught against them, which I find to be most unwarranted and insincere.
Last month the Wall Street Journal ran a five-piece series titled “The Facebook Files” which allegedly shows how toxic Instagram is for teens. The foundation of their argument was a single slide from an internal presentation claiming, based on FB’s own research, that of teens who had a negative self-image, one-third said Instagram “made them feel worse.”iii Somehow the implication here is that this is not an inescapable aspect of either the human psyche and/or society-at large, but that it is of Facebook’s doing…” (Click here to see the full text)
6. DoorDash, Inc. (NYSE:DASH)
Tiger Global Management’s Stake Value: $1,733,737,000
Percentage of Tiger Global Management’s 13F Portfolio: 3.77%
Number of Hedge Fund Holders: 52
DoorDash, Inc. (NYSE:DASH) is a California-based online food ordering and delivery company. Tiger Global Management acquired a position in DoorDash, Inc. (NYSE:DASH) in Q4 2020, and the fund has gradually increased its stake in the company over the years. In Q4 2021, Chase Coleman’s hedge fund held 11.6 million shares of DoorDash, Inc. (NYSE:DASH), worth $1.73 billion, representing 3.77% of the total 13F securities.
On February 16, DoorDash, Inc. (NYSE:DASH) reported its Q4 results, posting a loss per share of $0.01, missing estimates by $0.08. The company’s $1.30 billion revenue was up 34.02% year-on-year, outperforming estimates by $16.28 million.
DA Davidson analyst Tom White on February 18 lowered the price target on DoorDash, Inc. (NYSE:DASH) to $135 from $210 and kept a Neutral rating on the shares. The company’s Q4 results outperformed on gross order volume but fell short on EBITDA, the analyst told investors in a research note.
In Q4 2021, 52 hedge funds in the database of 924 elite funds monitored by Insider Monkey reported owning stakes in DoorDash, Inc. (NYSE:DASH), up from 42 funds in the quarter earlier. Christopher Lyle’s SCGE Management held a prominent stake in DoorDash, Inc. (NYSE:DASH), with 4.2 million shares worth approximately $638 million.
Hedge funds are pouring into DoorDash, Inc. (NYSE:DASH), just like Mastercard Incorporated (NYSE:MA), Uber Technologies, Inc. (NYSE:UBER), and Netflix, Inc. (NASDAQ:NFLX).
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Disclosure: None. Top 10 Stock Picks of Chase Coleman’s Tiger Global Management is originally published on Insider Monkey.
