Tiger Global has been the best large hedge fund to clone over the last 3 years.

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If you had to choose one fund to follow, Tiger Global might be it. Chase Coleman’s Tiger Global has been the best large hedge fund over the last 3 years. At least based on long-only positions disclosed via 13F filings. Copying or “cloning” Tiger Global’s long positions quarterly, would have returned a big-fund leading 22.37% annually since Q1 2016. That’s according to WhaleWisdom.com data.

The beauty of following 13F filings is that an investor can emulate the best ideas of great hedge fund managers. One can profit from world-class hedge fund research, without ponying up millions of bucks to get in the door, paying major fees or being subject to lockups.

And few hedged funds have been better to follow than Tiger Global Management. Since starting Tiger Global in 2001 — after learning the ropes under hedge fund legend Julian Robertson — Chase Coleman’s stock picking has been second to none. At least for big hedge funds — those with 13F holdings of over $10 billion. The top smaller hedge funds, typically focusing on small-cap stocks, often generate higher returns.

Tiger Global’s annual 13F returns over the last decade have averaged 17.80%

The last several years have been no fluke — looking back 10 years, Tiger Global has been one of the top performing hedge funds, generating annualized 13F returns of 17.8%.

Tiger Global Management performance (light green) vs the S&P 500 total return (dark green). Source: WhaleWisdom.com

As of Q1 2019, Tiger Global had $36.3 billion assets under management. Long holdings as represented by 13F holdings were $18.1 billion. So about half of the hedge fund’s assets were invested in assets not required to be disclosed in 13Fs — presumably private investments and short positions. According to Institutional Investor, Tiger’s long-short fund — Tiger Global Investments — posted a 13.6 percent net gain in 2018.

And, Tiger Global’s private equity investments are apparently paying off in a big way.

But the performance of just Tiger’s 13F positions hasn’t been too shabby. Here is the fund’s top Q1 changes:

As its name suggests, Tiger Global’s portfolio is focused on equities from around the globe. No less than six of the fund’s top Q1 holdings are companies based overseas. The fund’s top Q1 holding was JD.com (JD), the huge Beijing-based online retailer. U.K.-based Fiat Chrysler (FCAU) was Tiger’s 4th largest holding. Alibaba Group (BABA) was #9.

Tiger Global Management’s top 20 positions for Q1 2019

StockSymbolShares HeldMarket Value% of PortfolioRanking% Change% OwnershipQtr first ownedAvg Price
Jd.com inc adrJD57,850,3661,744,189,0009.7717%1(0.1222%)4.8049%Q4 201429.1694
Microsoft corp.MSFT13,292,4001,567,706,0008.783%20.9493%0.1726%Q4 201674.5982
Facebook incFB8,838,1171,473,226,0008.2537%364.5219%0.3042%Q4 2016161.863
Fiat chrysler automobiles n.v.FCAU88,296,7571,311,207,0007.346%48.9478%5.6312%Q4 201615.0156
Amazon.com inc.AMZN704,1121,253,847,0007.0246%5(5.3631%)0.144%Q2 2015694.1315
Spotify technology saSPOT8,203,2351,138,609,0006.379%6(35.9347%)4.6057%Q2 2018168.2309
Apollo global management llcAPO37,663,5001,063,994,0005.961%70.00%18.6981%Q1 201725.1339
Transdigm group incTDG2,066,000937,943,0005.2548%80.00%3.9166%Q4 2016269.6573
Alibaba group holding ltd adrBABA4,329,245789,871,0004.4252%95.2155%0.169%Q3 2016136.2413
Netflix incNFLX2,109,813752,275,0004.2146%1042.8152%0.4838%Q1 2017246.4394
Booking holdings inc. (priceline)BKNG283,507494,694,0002.7715%11(37.1692%)0.5779%Q4 20151352.3073
Stoneco ltdSTNE10,597,754435,674,0002.4408%120.00%3.8249%Q4 201818.44
Fleetcor technologies incFLT1,727,100425,886,0002.386%13(3.627%)1.4059%Q4 2012151.0477
Salesforce.com inc.CRM2,286,739362,151,0002.0289%140.00%0.2989%Q4 2017112.7071
Tal education group american depositary adrTAL9,424,023340,019,0001.9049%15(1.7127%)1.6625%Q4 201515.4153
Svmk incSVMK18,446,551335,912,0001.8819%16(39.4641%)14.7478%Q3 201816.03
Dominos pizza incDPZ1,224,850316,134,0001.7711%17(34.577%)2.9444%Q4 2016182.5083
Eventbrite incEB14,064,271269,612,0001.5105%18(2.0885%)No DataQ3 201837.97
Sunrun incRUN18,583,400261,283,0001.4638%194.3003%16.6146%Q1 201811.491
Zendesk incZEN2,702,000229,670,0001.2867%20(25.559%)2.5243%Q3 201869.3064
Disclaimer:

Do not construe anything written in this post or this blog in its entirety as a recommendation, research, or an offer to buy or sell any securities. Everything in this blog is meant for educational and informational purposes only. Do your own research before investing and don’t risk more than you can afford to lose. This article expresses my own opinions, and I am not receiving compensation for it (other than from WhaleWisdom). I do not have a business relationship with any company whose stock is mentioned in this article. I or my associates may hold positions in the stocks discussed.