Editor's Note: A previous version of this article erroneously attributed the founding of Tiger Global Management to Julian Robertson, who founded the unrelated hedge fund Tiger Management. Charles Coleman, who once worked for Robertson, founded Tiger Global Management. The author and the Fool regret the error.
Every quarter, many money managers have to disclose what they've bought and sold via 13F filings. Their latest moves can shine a bright light on smart stock picks.
Today let's look at Tiger Global Management. The company's reportable stock portfolio totaled $5.9 billion in value as of March 31, 2012.
The fund's massive portfolio is highly concentrated, owning only a few dozen stocks. The portfolio's top three holdings, representing a whopping 41% of its assets, were Russian search giant Yandex, Apple, and Google.
So what does Tiger Global Management's latest quarterly 13F filing tell us? Here are a few interesting details:
New holdings include Deckers Outdoor
It might be less clear why an investor would load up on shares of Frontier Communications, since the rural-focused telecom company saddled itself with lots of landlines in an increasingly mobile-phoned world. It's also saddled with debt and has been losing customers. Its 10% dividend yield is certainly attractive, but note that the company recently cut its payout. It's not a lost cause, as its revenue growth has been accelerating and averaged about 20% annually over the past five years, and insiders have been buying, too. Still, there are less risky alternatives than Frontier.
Among holdings in which Tiger Global Management increased its stake was Arcos Dorados Holdings
Tiger Global Management reduced its stake in Amazon.com
Finally, Tiger Global Management unloaded several companies, such as Heckmann
We should never blindly copy any investor's moves, no matter how talented the investor. But it can be useful to keep an eye on what smart folks are doing, and 13-F forms can be great places to find intriguing candidates for our portfolios.
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