Key Takeaways
- • Chase Coleman's Tiger Global posted a 3.5% gain in August 2011 when the S&P 500 declined 5.7%, delivering a year-to-date return of 45% according to investor reports—positioning the fund for one of Coleman's strongest annual performances.
- • Short positions generated more profit than long positions for Coleman in 2011, despite internet stocks remaining a core holding within his $5.2 billion long U.S. equities portfolio.
- • Coleman's largest holdings include Yandex (Russia's dominant search engine), Bitauto Holdings (Chinese auto content provider), alongside major stakes in Amazon, Netflix, Priceline, and Baidu, reflecting his concentrated bet on internet and technology-focused companies.
- • Coleman emerged as the most successful manager among the "Tiger Seeds"—Tiger Management founder Julian Robertson's personally backed fund managers—after joining as a technology analyst in 1997 following his graduation from Williams College.
Summary
Chase Coleman's Tiger Global delivered exceptional August performance amid broader market turbulence, gaining 3.5% while the S&P 500 fell 5.7%, according to investor communications reported by Institutional Investor. This strong month extended Coleman's year-to-date return to 45%, marking what could represent his most profitable year since launching the fund.
The outperformance reflects Coleman's tactical positioning during a period of market correction. Notably, Coleman generated more profit from short positions than long positions during 2011, demonstrating effective downside hedging even as his long portfolio maintained significant exposure to internet and technology equities. His $5.2 billion long U.S. equities portfolio remained heavily concentrated in internet companies, both public and private.
Coleman's largest public holdings centered on international internet platforms and technology plays. Yandex, Russia's leading search engine and most popular internet company, represented his single largest holding. He also maintained the largest shareholder position in Bitauto Holdings, a Chinese internet content provider focused on the automotive sector. Additional major holdings included Amazon, Netflix, Priceline, and Baidu, the latter providing Chinese- and Japanese-language search services. Coleman supplemented these positions with investments across numerous privately-held internet companies.
Coleman's track record established him as the preeminent success among Tiger Management founder Julian Robertson's personally capitalized fund managers, known in industry parlance as "Tiger Seeds." After graduating from Williams College in 1997 with a degree in economics, Coleman joined Tiger as a technology analyst, eventually building Tiger Global into a $5.2 billion long equities operation through his concentrated thesis on internet and technology sector outperformance.
The outperformance reflects Coleman's tactical positioning during a period of market correction. Notably, Coleman generated more profit from short positions than long positions during 2011, demonstrating effective downside hedging even as his long portfolio maintained significant exposure to internet and technology equities. His $5.2 billion long U.S. equities portfolio remained heavily concentrated in internet companies, both public and private.
Coleman's largest public holdings centered on international internet platforms and technology plays. Yandex, Russia's leading search engine and most popular internet company, represented his single largest holding. He also maintained the largest shareholder position in Bitauto Holdings, a Chinese internet content provider focused on the automotive sector. Additional major holdings included Amazon, Netflix, Priceline, and Baidu, the latter providing Chinese- and Japanese-language search services. Coleman supplemented these positions with investments across numerous privately-held internet companies.
Coleman's track record established him as the preeminent success among Tiger Management founder Julian Robertson's personally capitalized fund managers, known in industry parlance as "Tiger Seeds." After graduating from Williams College in 1997 with a degree in economics, Coleman joined Tiger as a technology analyst, eventually building Tiger Global into a $5.2 billion long equities operation through his concentrated thesis on internet and technology sector outperformance.
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