Tiger Global Management LLC, run by Chase Coleman and Feroz Dewan, bought a stake in Yahoo! Inc. and boosted its holding in Priceline.com Inc., its largest U.S. -listed stock position, as it stepped up its bets on e-commerce.
Tiger purchased 8 million shares in Sunnyvale, California-based Yahoo valued at $265 million at the end of the third quarter, according to a filing today with the U.S. Securities and Exchange Commission.
The hedge fund-firm, which is based in New York and oversees $6.2 billion in assets, also acquired a stake in Liberty Ventures, which owns interests in video and Internet commerce businesses, valued at $61 million as of Sept. 30. It added a position in TripAdvisor Inc. worth $20 million.
Tiger bought 97,000 shares of Priceline, increasing its stake to $577 million at the end of the quarter, according to the filing. Carolyn Sargent, a spokesman for Tiger with Rubenstein Associates Inc., declined to comment on the filing.