Chase Coleman’s Tiger Global Management more than doubled its stake in JD.com Inc. before the stock tumbled this month on worries about increased competition for the online retailer and a slowing Chinese economy.
Tiger Global became the third-biggest holder of JD.com American depositary receipts, with a position valued at $2.4 billion as of June 30, according to a quarterly filing with the U.S. Securities and Exchange Commission. The shares have dropped 18 percent since the end of the quarter.
The money manager added to its position in Netflix Inc., acquiring 16.9 million shares. The stake of 18 million shares was valued at $1.7 billion at the end of the quarter.
The firm took new positions in Amazon.com Inc., worth $324.3 million, and TripAdvisor Inc., valued at $106.5 million.
Tiger Global’s biggest exit was Twenty-First Century Fox Inc., a stake that had been valued at $568.7 million.
The firm owned shares in 40 companies at the end of the quarter and 8 were newly reported.
Money managers who oversee more than $100 million in equities in the U.S. must file a Form 13F within 45 days of each quarter’s end to list those stocks as well as options and convertible bonds. The filings don’t show non-U.S. securities, holdings that aren’t publicly traded, or cash.