Renowned investor Chase Coleman recently disclosed his firm's portfolio updates for the second quarter of 2023, which ended on June 30, 2023. Known for his tech-focused investment strategy, Coleman's portfolio is a keenly watched barometer of trends in the technology sector. The firm's portfolio contained 41 stocks with a total value of $11.97 billion.
Top Holdings
The top holdings in Coleman's portfolio were META (20.54%), MSFT (16.13%), and APO (7.92%). These stocks represent a significant portion of the portfolio, indicating Coleman's confidence in their performance.
Key Trades of the Quarter
Among the notable trades of the quarter, Coleman reduced his investment in Pagaya Technologies Ltd (NAS:PGY) by 18,673,200 shares, impacting the equity portfolio by 0.38%. The stock traded for an average price of $2.46 during the quarter. As of August 14, 2023, PGY had a price of $2.41 and a market cap of $1.71 billion. Despite a -88.07% return over the past year, GuruFocus rates the company's financial strength at 6 out of 10 and profitability at 2 out of 10. PGY's valuation ratios include a price-book ratio of 2.98, a EV-to-Ebitda ratio of -6.24, and a price-sales ratio of 1.77.
In a significant addition, Coleman purchased 9,726,058 shares of Apollo Global Management Inc (NYSE:APO), bringing the total holding to 12,341,014 shares. This trade had a 6.24% impact on the equity portfolio. APO traded for an average price of $66.81 during the quarter. As of August 14, 2023, APO had a price of $81.84 and a market cap of $46.39 billion. The stock has returned 37.38% over the past year. GuruFocus rates APO's financial strength and profitability at 6 and 8 out of 10, respectively. APO's valuation ratios include a price-earnings ratio of 70.25, a price-book ratio of 5.64, a EV-to-Ebitda ratio of -26.62, and a price-sales ratio of 1.76.
Coleman also reduced his investment in Amazon.com Inc (NAS:AMZN) by 5,989,891 shares, impacting the equity portfolio by 5.63%. The stock traded for an average price of $114.02 during the quarter. As of August 14, 2023, AMZN had a price of $139.7183 and a market cap of $1,441.58 billion. Despite a -2.65% return over the past year, GuruFocus rates AMZN's financial strength and profitability at 6 and 8 out of 10, respectively. AMZN's valuation ratios include a price-earnings ratio of 110.01, a price-book ratio of 8.55, a price-earnings-to-growth (PEG) ratio of 4.74, a EV-to-Ebitda ratio of 23.97, and a price-sales ratio of 2.71.
In conclusion, Chase Coleman (Trades, Portfolio)'s Q2 2023 13F filing reveals a portfolio heavily invested in technology and financial services. His key trades reflect a strategic balance between consolidating positions in high-performing stocks and reducing exposure to underperforming ones. These moves offer valuable insights into the investment strategies of one of the most successful tech-focused investors in the market today.
