Tiger Global Shifts Big Tech Focus with Large Cuts to Alphabet and Nvidia
Tiger Global Management made significant changes to its portfolio in the second quarter, reducing its big tech bets and adding new positions in Advanced Micro Devices (AMD) and SpaceX.
The hedge fund trimmed its Alphabet stake by 45.4% to 5.81 million shares as of June 30, compared with the end of March. It also reduced its Nvidia holding by 6.8% to 11.20 million shares, while its Microsoft position fell 9.3% to 2.27 million shares.
Tiger Global trimmed its Amazon stake by 3.2% to 9.68 million shares and reduced its Meta Platforms holding by 8.5% to 2.82 million shares. The fund also sold its entire 2.44 million-share position in Netflix, which was valued at about $234.5 million at the end of the first quarter.
However, Tiger Global more than doubled its Intel stake to 4.25 million shares from 1.64 million shares in the previous quarter. The fund also established a new 674,727-share position in Advanced Micro Devices, worth roughly $392 million as of June 30, and reported a 375,000-share holding in SpaceX, valued at approximately $64.1 million.