Earlier this week, Chase Coleman (Trades, Portfolio), the founder of Tiger Global Management and one of Julian Robertson’s former “Tiger Cubs” (Trades, Portfolio), disclosed the AltC Acquisition Corp. (ALCC, Financial) ) 6.25% of the shares.
This New York-based hedge fund was established in 2001 and is known for focusing on small-cap stocks and technology startups. It has become an early investor in companies such as Facebook Inc FB + 5.3%. (FB, Financial) and Spotify Technology SA (SPOT, Financial).
According to data from the advanced function GuruFocus RealTime Picks, Coleman invested in 4 million shares of the special purpose acquisition company on July 12 and allocated 0.09% of the stock portfolio to the equity. On the trading day, the average trading price of these stocks was $10.05 per share.
As a SPAC, AltC Acquisition, headquartered in New York, is a shell company that raises funds in an initial public offering for the purpose of subsequent mergers with the following institutions, stock exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations. One or more entities in the industry.
Specifically, the company stated in a document submitted to the US Securities and Exchange Commission that its plan is aimed at businesses that generate stable free cash flow, obtain through its own channels, and have a dedicated and capable management team.
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here. The popularity of SPAC has increased in recent years, with a record 248 transactions completed in 2020, and even more this year. CNBC reported in March that the funds raised in the SPAC market in the first three months of 2021 have exceeded the total funds raised for the entire year of 2020 by 87.9 billion U.S. dollars.
Blank Check Company announced on July 7 that it will issue 45 million shares in an IPO. The stock is priced at $ 10 per share. By convention, underwriters had a 45-day option and could purchase up to an additional 5 million shares. 4,444 shares began trading on July 8. Since then, it has dropped about 1% to $ 9.88. The market value of the company is $ 63,175 million. Line chart
Acquisition price chart of
Although the acquisition target has yet to be determined, one of the company’s co-founders, Sam Altman, has a good track record of investing in growth in the technology industry and is also a co-founder of the artificial intelligence company . OpenAI. Other members of the management team also have experience in the field of private technology companies. So if AltC does finally strike a deal with a promising tech start-up, it won’t be surprising.
Portfolio Composition
As of March 31, Coleman’s $ 43.47 billion equity investment portfolio consisted of 120 stocks, more than half of which were invested in consumer cyclical industries and technology.
Pie Chart
Chase Coleman’s Portfolio Composition by Industry. GURUFOCUS.COM
At the end of the first quarter, Guru’s top five holdings are JD.com (JD.com, Finance) and Microsoft MSFT + 1.2%. (Microsoft, Finance), Roblox Corp RBLX 0.2%. (RBLX, Financial), Sea Ltd. (SE, Financial) and Amazon.com Inc AMZN + 0.5%. (Amazon, Finance). In April, Coleman invested in another SPAC, TCV Acquisition Corp. (TCVA, financier).
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We have no positions in any of the above-mentioned stocks, and we have no plans to establish any positions in the next 72 hours.

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