Coleman’s Tiger Global Buys Netflix, Qihoo Stakes in Quarter

Aug 14, 2014 3:58 pm ET

Aug. 14 (Bloomberg) -- Tiger Global Management LLC, the investment firm run by Chase Coleman, bought new stakes in Netflix Inc. and Qihoo 360 Technology Co. Ltd. during the second quarter.

Tiger Global, based in New York, acquired 400,300 shares of Los Gatos, California-based Netflix that were valued at $176.4 million as of June 30, according to a filing with the U.S. Securities and Exchange Commission today. Netflix fell the most in more than two months in July amid investor concern that an accelerated international expansion may hurt profitability.

The firm’s stake in Qihoo was worth $88.4 million as of June 30.

The firm sold its stakes in Atlanta-based Carter’s Inc., which makes children’s apparel, and Coca-Cola Enterprises Inc., according to the filing.

Carolyn Sargent, a spokeswoman for Tiger Global at Rubenstein Associates Inc., declined to comment. The firm has about $15 billion in assets.

Money managers who oversee more than $100 million in equities must file a Form 13F within 45 days of each quarter’s end to list their U.S.-traded stocks, options and convertible bonds. The filings don’t show non-U.S. securities or how much cash the firms hold.