As the name of the fund implies, Tiger Global Management was founded by one of Julian Robertson’s “Tiger Cubs” who founded the original Tiger Management, which had achieved high, market-beating returns until its closure in early-2000 at the height of the dot-com boom. Tiger Global was founded in 2001 by Chase Coleman and has achieved around 20% annualized returns since its inception. In addition to equities, the firm also participates in early- and late-stage venture deals, most of which are done in emerging markets where prospective market returns and uncovered opportunities are likely to be found. The firm has done deals in China, southeast Asia, Latin America, and emerging Europe. Tiger is a tech-focused firm, with many holdings on its 13F concentrated in internet and e-commerce. We see this with PCLN, JD, AMZN, BABA, ETSY, FB, SHOP, ONDK, and LC. We also see small positions in recently IPO’ed firms OKTA and CLDR. The fund is also concentrated with 80% of its long-equity portfolio wrapped up in just 10 names. This creates higher risk but higher reward. Tech has nonetheless enjoyed a banner year, as have many of Tiger Global’s top positions. Its portfolio holdings, position sizes, and recent changes can be found below: (click to enlarge)