Apparently, Chase Coleman really likes China.
Forbes reports that the multi-billionaire Tiger cub has over 20% of his fund’s holdings in several Chinese companies, namely JD.com, Alibaba, Vipshop Holdings, 58.com, and eHi Car Services.
While the good people at Forbes believe that China’s recent meltdown makes for a good time to emulate Coleman’s holdings, I doubt his investors were as enthusiastic about his stakes.
Chinese e-commerce giant JD.com apparently takes up 7% of Tiger Global’s portfolio – a scary thought, given how much its shares have been battered lately. Yesterday alone, the stock tanked 4.5% – not exactly something you’d like to write about during your quarterly letters. Meanwhile, his fund’s second-largest holding appears to be JD.com’s main rival, Alibaba, which recently reported a nasty earnings miss which sent its shares down 6.9%.
Vipshop Holdings – his third largest position – also seems to have fallen from its $30 peak to just $19 yesterday.
Well, at least he has company. Passport Capital’s John Burbank also has Vipshop among his fund’s top holdings.
Forbes does have a point though; Coleman and Burbank are absolutely no slouches when it comes to investing, so at these prices, you might actually want to take a look at these companies.
Photo: Patrick Bouquet