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Tiger Global trims Big Tech stakes, exits Netflix and adds SpaceX stake
In its second-quarter 13-F filings, the hedge fund cut Alphabet and Nvidia positions while building stakes in Intel, Advanced Micro Devices, and SpaceX.
Tiger Global Management trimmed several Big Tech holdings in the second quarter, exited Netflix, and added positions in Advanced Micro Devices and SpaceX, according to regulatory disclosures reviewed in its quarterly 13-F filings.
The filings showed Tiger Global cut its Alphabet stake by 45.4% to 5.81 million shares as of June 30, and reduced its Nvidia position by 6.8% to 11.20 million shares. It also trimmed Microsoft by 9.3% to 2.27 million shares and reduced its Amazon holding by 3.2% to 9.68 million shares.
Tiger Global sold its entire 2.44 million-share Netflix stake, which was valued at about $234.5 million at the end of the first quarter. It also cut Broadcom by about 51% to 1.75 million shares and reduced Taiwan Semiconductor Manufacturing by 12.3% to 4.88 million American depositary shares.
On the buying side, Tiger Global more than doubled its Intel stake to 4.25 million shares from 1.64 million shares in the prior quarter. It established a 674,727-share position in Advanced Micro Devices valued at roughly $392 million as of June 30, and reported a 375,000-share stake in SpaceX valued at about $64.1 million.