Tiger Global Cuts Big Tech Stakes, Doubles Down on Intel
Tiger Global Management made significant adjustments to its portfolio in the second quarter, according to regulatory disclosures filed with the U.S. Securities and Exchange Commission.
The hedge fund reduced its stakes in several Big Tech companies, including Alphabet (GOOGL.O) by 45.4%, Microsoft (MSFT.O) by 9.3%, Amazon (AMZN.O) by 3.2%, Meta Platforms (META.O) by 8.5%, and Broadcom (AVGO.O) by about 51%.
Tiger Global also exited its entire 2.44 million-share Netflix position, valued at around $234.5 million, as of the end of the first quarter.
On the other hand, the investment firm more than doubled its stake in Intel (INTC.O) to 4.25 million shares from 1.64 million shares in the prior quarter.
Tiger Global also established positions in Advanced Micro Devices (AMD.O) and SpaceX, with a 674,727-share stake valued at roughly $392 million and a 375,000-share stake valued at about $64.1 million, respectively.