Snap rebound accelerates as big funds including Temasek disclose stakes

A Snapchat promotional board is visible behind pedestrians. Photo: Bloomberg

Snap Inc. keeps clawing back losses from last week’s 21 percent swoon, welcome news to any of the institutional owners now detailing stakes in the messaging service — as long as they didn’t bail in the downdraft.

Fidelity Management & Research, New York-based hedge fund Coatue Management and Singapore state investment firm Temasek Holdings Pte were among those listing positions with the Securities and Exchange Commission in filings today. Some were started before Snap went public. Fidelity and Coatue each reportedly participated in pre-IPO funding rounds.

Snap shares jumped 8.4 percent to $20.74, adding to gains Friday that have retraced about two-thirds of Thursday’s earnings-related correction. Here are some of the largest Snap stakes disclosed so far in 13F filings, reflecting holdings as of March 31:

Fidelity Management & Research disclosed a 33.2 million-share stake. The position makes it Snap’s fifth-largest holder as of latest filings, according to Bloomberg data T Rowe Price 28.3 million shares, making it the sixth-largest holder as of latest filings. The firm was also reportedly a pre-IPO investor Coatue Management disclosed a 21 million-share stake, seventh-largest holder as of latest filings Jennison 5.29 million shares Oppenheimer 2.35 million shares Third Point 2.25 million shares Ivy 1.97 million shares Lone Pine 1.79 million shares Soros 1.65 million shares Waddell & Reed Financial 1.49 million shares Jana 550,000 shares Lansdowne 507,000 shares Temasek 300,000 shares Appaloosa 100,000 shares Snap has 682.1 million shares outstanding (248.5 million-share float) as of April 30, according to Bloomberg data.

Snap shares plunged on May 10 after revenue missed estimates in its first quarterly report as a public company. Analysts gave kudos to archrival Facebook for stifling Snap’s growth, while CEO Evan Spiegel scoffed at the competitive threat on the conference call.

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Bloomberg

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.