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Top 5 Buys of Chase Coleman's Tiger Global in 2nd Quarter

Tech-focused 'Tiger Cub' releases quarterly portfolio Continue reading... Read More...

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Tiger Global Management, the firm founded by Chase Coleman (Trades, Portfolio), disclosed last week that its top five buys for the second quarter were CrowdStrike Holdings Inc. (NASDAQ:CRWD), Salesforce.com Inc. (NYSE:CRM), Workday Inc. (NASDAQ:WDAY), Spotify Technology SA (NYSE:SPOT) and Amazon.com Inc. (NASDAQ:AMZN).” data-reactid=”12″>Tiger Global Management, the firm founded by Chase Coleman (Trades, Portfolio), disclosed last week that its top five buys for the second quarter were CrowdStrike Holdings Inc. (NASDAQ:CRWD), Salesforce.com Inc. (NYSE:CRM), Workday Inc. (NASDAQ:WDAY), Spotify Technology SA (NYSE:SPOT) and Amazon.com Inc. (NASDAQ:AMZN).

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The New York-based firm applies investing strategies that Coleman learned from Tiger Management founder Julian Robertson (Trades, Portfolio). While the firm centers its investments primarily in small-cap and technology stocks, Tiger Global also looks at early-stage venture, late-stage venture, post-initial public offering and secondary market equities.” data-reactid=”23″>The New York-based firm applies investing strategies that Coleman learned from Tiger Management founder Julian Robertson (Trades, Portfolio). While the firm centers its investments primarily in small-cap and technology stocks, Tiger Global also looks at early-stage venture, late-stage venture, post-initial public offering and secondary market equities.

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As of the quarter-end, Tiger Global’s $25.79 billion equity portfolio contains 73 stocks, with four new positions and a turnover ratio of 6%. The technology sector has a portfolio weight of 35.88%, up from the previous-quarter weight of 34.90%.

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The consumer cyclical and communication services sectors rank second and third with weights of 28.60% and 20.74%.

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<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="CrowdStrike” data-reactid=”86″>CrowdStrike

Tiger Global purchased 4.792 million shares of CrowdStrike, increasing the stake 1,916.80% and the equity portfolio 1.86%. Shares averaged $79.52 during the second quarter.

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The Sunnyvale, California-based company provides a wide range of solutions to supplement security and network operations teams. According to GuruFocus, CrowdStrike’s cash-to-debt and debt-to-equity ratios outperform over 74% of global competitors, suggesting good financial strength.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Salesforce.com” data-reactid=”109″>Salesforce.com

Tiger Global purchased 1,197,596 shares of Salesforce.com, increasing the position 105.78% and the equity portfolio 0.87%. Shares averaged $168.06 during the second quarter.

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The San Francisco-based company operates a customer relationship management software-as-a-service product. GuruFocus ranks Salesforce.com’s financial strength 7 out of 10, driven by a strong Altman Z-score of 5.94 despite interest coverage and debt ratios underperforming more than half of global competitors.

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Other gurus with holdings in Salesforce.com include Ken Fisher (Trades, Portfolio) and Spiros Segalas (Trades, Portfolio).

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<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Workday” data-reactid=”177″>Workday

Tiger Global purchased 692,000 shares of Workday, increasing the holding 29.85% and the equity portfolio 0.50%. Shares averaged $161.03 during the second quarter.

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The Pleasanton, California-based company provides enterprise resource planning software for medium-sized and large companies. GuruFocus ranks Workday’s financial strength 5 out of 10: Although the company has a high Altman Z-score of 5.43, debt ratios are underperforming over 80% of global competitors.

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<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Spotify” data-reactid=”220″>Spotify

Tiger Global purchased 447,109 shares of Spotify, increasing the position 16.33% and the equity portfolio 0.45%. Shares averaged $170.37 during the second quarter.

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GuruFocus ranks the Stockholm-based music streaming service provider’s financial strength 6 out of 10: Although the company has a strong Altman Z-score of 7.5, Spotify has a weak Piotroski F-score of 3 and a debt-to-equity ratio that underperforms 65.84% of global competitors.

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<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Amazon.com” data-reactid=”263″>Amazon.com

Tiger Global purchased 40,710 shares of Amazon.com, increasing the holding 7.37% and the equity portfolio 0.44%. Shares averaged $2,403.24 during the second quarter.

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GuruFocus ranks the Seattle-based retail giant’s profitability 8 out of 10 on several positive investing signs, which include expanding operating margins and a 4.5-star business predictability rank.

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Disclosure: No positions.

Read more here:

  • David Einhorn’s Top 5 Trades in the 2nd Quarter
  • Wallace Weitz’s Top 5 Sells in the 2nd Quarter
  • Top 5 Buys of Chuck Akre’s Firm in the 2nd Quarter

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<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="This article first appeared on GuruFocus.
” data-reactid=”314″>This article first appeared on GuruFocus.

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