Tiger Global Updates Its Portfolio: MercadoLibre, ChinaEdu

by: Market Folly

Chase Coleman's hedge fund Tiger Global has not yet filed its 13F filing as of the time of writing. However, what it has filed is a slew of amended 13G filings with the SEC due to activity on December 31st, 2009. This means we get a glimpse as to the updated sizes of some of Tiger Global's portfolio positions and we'll of course detail the rest of the changes when its 13F is released. We've covered Chase Coleman extensively on the site before and in January noted that Tiger started an Apollo Group (NASDAQ:APOL) stake. Additionally, Tiger was mentioned in our recent post about how hedge funds have been bullish on tower stocks. Now, it's time to see what else the fund has been up to.

Firstly, Coleman's hedge fund firm is showing a 7.6% ownership stake in MercadoLibre (NASDAQ:MELI) with 3,366,343 shares. Tiger has increased its stake by 125,000 shares (a 3.8% boost) over the past 4.5 months. This is because as of its last 13F filing (which detailed positions as of September 30th, 2009) Tiger previously owned 3,241,343 shares.

Secondly, we see that Tiger Global filed a 13G on ChinaEdu Corporation (NASDAQ:CEDU) and shows a 0% ownership stake with 0 shares. This filing is a bit peculiar as it did not show ownership of shares in its last 13F filing either from back on September 30th, 2009. So, we're not really sure why this was filed.

Thirdly, Tiger has disclosed a 2.0% ownership stake in Gushan Environmental Energy (NYSE:GU) with 3,409,923 shares. This is an increase of 434,817 shares (a 14.6% boost in position size). Back on September 30th, 2009, it owned 2,975,106 shares.

Fourthly, Tiger Global is also showing a 6.4% ownership stake in TransDigm Group (NYSE:TDG) with 3,157,329 shares. It has boosted its holdings in this position by 360,732 shares since September 30th, 2009 (a 12.9% increase).

Lastly, we round out this update with the fact that Tiger Global has disclosed a 0% ownership stake in WNS Holdings Limited (NYSE:WNS) with 0 shares. This is another one of those weird filings that doesn't make much sense to us since the hedge fund did not hold a position in WNS in its last 13F disclosure either. If anyone has an idea as to what is going on, feel free to comment below. Regardless, we're just here to update you on what was filed.

In addition to those disclosures, we also recently got a glimpse into one of Tiger's short positions. In July of 2009, Tiger Global was short 0.9% of Banco Popular's shares (NASDAQ:BPOP). Then, as of January 2010 (and right before Popular announced their earnings), we learned that Tiger had reduced its short position to only 0.22% of shares. Back when we detailed a previous Tiger investor letter, we made note that its short positions were causing it some pain, as was the case in the vast majority of hedge fund land.

Chase Coleman is a 'Tiger Cub' because he previously plied his trade under mentor Julian Robertson at Tiger Management. Coleman is also considered a 'Tiger Seed' because he is one of the few managers that Robertson actually seeded himself in an effort to recognize talented up and coming managers.

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