Markets

Chase Coleman Gained From Visa But Lost From Trinet Group

Chase Coleman ( Trades , Portfolio ) is the founder of Tiger Global Management which is a fundamentally oriented, global investment firm. The fund deploys capital in two businesses - private equity partnerships and public equity funds.

During the third quarter, he closed 10 stocks, and the maximum gain he got was from Visa ( V ) at 83% but lost 34% from Trinet Group ( TNET ). He also had good gains of 26% and 25% from 58.com ( WUBA ) and Masonite International ( DOOR ).

Coleman exited his position in Priceline Group Inc . ( PCLN ). The firm held 727,939 shares. It had a long-term position in the portfolio since 2010 and lost its position several times. The investor bought new shares in the first quarter at $192.84, then increased his stake by 75.48% in the second quarter. This quarter he sold out his stake and gained 8%. The deal had an impact of -8.57% on the portfolio.

Priceline Group has a market cap of $66.33 billion and an enterprise value of $68.7 billion. The company is a provider of online travel and travel-related reservation and search services. The company offers consumers accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.

Jeremy Grantham (Trades, Portfolio) is another investor who closed his position during the third quarter. Steven Cohen (Trades, Portfolio) and Lee Ainslie (Trades, Portfolio) cut their stakes more than 83%.

Coleman exited his position in Zillow Group Inc. ( Z ) but did not gain anything. The deal had an impact of -3.18% on the portfolio.

Zillow Group has a market cap of $4.53 billion and an enterprise value of $155.66 billion. The company operates the real estate and home-related information marketplaces on mobile and the Internet, with a complementary portfolio of brands and products to help people find vital information about homes and connect with local professionals.

The stock was only traded by two investors - Coleman, who exited his position, and Paul Tudor Jones (Trades, Portfolio), who acquired a new position.

Coleman also exited his position in Liberty Interactive Corp. (LVNTA). The firm held 4,000,868 shares. The investor bought new shares in the fourth quarter of 2014 at an average price of $34.92; this quarter he sold out his stake above his purchase price and gained 17%. The deal had an impact of -1.61% on the portfolio.

Liberty Interactive has a market cap of $28.39 billion and an enterprise value of $12.21 billion. The company, through its subsidiaries and affiliates, operates in North America, Europe and Asia.

Many investors like Steven Cohen (Trades, Portfolio), Jim Simons (Trades, Portfolio), Jana Partners (Trades, Portfolio) and Charles de Vaulx (Trades, Portfolio) exited their positions in the quarter.

Coleman sold his stake in 58.com Inc. The firm held 2,450,000 shares.

The position was in the portfolio since 2013, then lost its position in 2014. The investor acquired a new position in the company; this quarter he sold out his stake and gained 26%. The deal had an impact of -1.6% on the portfolio.

58.com has a market cap of $9.5 billion and an enterprise value of $9.29 billion. The company is engaged in the operation of an online marketplace serving local merchants and consumers in the People's Republic of China through its website 58.com.

The stock lost its position only in Coleman's portfolio while Jim Simons (Trades, Portfolio), Chris Davis (Trades, Portfolio) and John Burbank (Trades, Portfolio) reduced their stakes.

Coleman sold his stake in Liberty Broadband Corp. (LBRDK). The firm held 2,206,053 shares. He bought shares of Liberty Broadband in the fourth quarter of 2014; in the last two quarters he increased and decreased his stake by 14.69% and 19.84%. This quarter he sold out his stake and gained 5%. The deal had an impact of -1.15% on the portfolio.

Liberty Broadband has a market cap of $5.32 billion and an enterprise value of $5.47 billion. The company is a holding company, engaged in the provision of digital cable services to residential and commercial customers and the provision of wireless location positioning and related services.

John Burbank (Trades, Portfolio) is another investor who closed his position while First Eagle Investment (Trades, Portfolio), Mario Gabelli (Trades, Portfolio) and Murray Stahl (Trades, Portfolio) reduced their stakes.

Coleman exited his position in TripAdvisor Inc. (TRIP). The firm held 1,222,425 shares. The stock was in the portfolio since 2013 then lost its position in the first quarter of 2014. The investor acquired a new position in the second quarter for an average price of $81.31. This quarter he sold out his stake below his purchase price at $75.67 and lost 7%. The deal had an impact of -1.09% on the portfolio.

TripAdvisor has a market cap of $12.53 billion and an enterprise value of $12.21 billion. The company is an online travel company, empowering users to plan the perfect trip. The company's travel research platform aggregates reviews and opinions from its community about destinations, accommodations, restaurants and related activities through its flagship TripAdvisor brand.

The stock lost its position in the portfolio of Louis Moore Bacon (Trades, Portfolio) while Frank Sands (Trades, Portfolio), Jim Simons (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio) and Manning & Napier Advisors Inc. reduced their stakes.

Coleman exited his position in Visa Inc. The firm held 838,089 shares. It had a long-term position in the portfolio since 2010, and the investor has been reducing and increasing his stake. This quarter he sold out his stake and gained 86%. The deal had an impact of -0.58% on the portfolio.

Visa has a market cap of $176.61 billion and an enterprise value of $170.6 billion. The company is a payment technology company that connects consumers, businesses, banks and governments in more than 200 countries and territories to fast, secure and reliable electronic payments.

Coleman was the only investor who closed his position while many funds like Frank Sands (Trades, Portfolio), PRIMECAP Management (Trades, Portfolio), Chris Davis (Trades, Portfolio), Manning & Napier Advisors Inc., First Eagle Investment (Trades, Portfolio), David Rolfe (Trades, Portfolio), Ruane Cunniff (Trades, Portfolio), Tom Russo (Trades, Portfolio), MS Global Franchise Fund (Trades, Portfolio) and Murray Stahl (Trades, Portfolio) cut their stakes.

Coleman exited his position in Trinet Group Inc. The firm held 1,800,000 shares. The stock is new in his portfolio and was established in the first quarter; last quarter he reduced his stake by 22.37%. This quarter he sold out his stake below his purchase price and lost 34%. The deal had an impact of -0.47% on the portfolio.

Trinet Group has a market cap of $1.3 billion and an enterprise value of $1.63 billion. The company enhances business productivity by enabling its clients to outsource their human resources, or HR, function to one strategic partner and allowing them to focus on operating and growing their core businesses.

Paul Tudor Jones (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio) and Jim Simons (Trades, Portfolio) are other investors who closed their positions.

Coleman exited his position in Impax Laboratories Inc. (IPXL). The firm held 205,686 shares. The investor established a new position in the second quarter at an average price of $47.46 per share, then this quarter he sold out his stake a few below his purchase price and lost 5%. The deal had an impact of -0.2% on the portfolio.

Impax Laboratories has a market cap of $2.96 billion and an enterprise value of $3.06 billion. The company is a technology-based, specialty pharmaceutical company applying formulation and development expertise, as well as its drug delivery technology, to the development, manufacture and marketing of bioequivalent pharmaceutical products, commonly referred to as generics in addition to the development and marketing of branded products.

Jim Simons (Trades, Portfolio) is another investor who exited his position while Steven Cohen (Trades, Portfolio), John Hussman (Trades, Portfolio), NWQ Managers (Trades, Portfolio) and Alan Fournier (Trades, Portfolio) cut their stakes.

Coleman exited his position in Masonite International Corp. The firm held 235,239 shares. The position was established in the second quarter of 2014 at an average price of $54.4 per share, then this quarter he sold out his stake above his purchase price and gained 25%. The deal had an impact of -0.17% on the portfolio.

Masonite International has a market cap of $1.93 billion and an enterprise value of $2.35 billion. The company operates in the Global Building Materials industry.

Pioneer Investments (Trades, Portfolio) and Howard Marks (Trades, Portfolio) are other funds who closed their positions.

About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .

This article first appeared on GuruFocus .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

TNET Z DOOR V WUBA

Other Topics

Stocks

Latest Markets Videos