Tiger Global Management cuts stakes in Big Tech, buys into SpaceX

Aug 14 (Reuters) - Tiger Global ‌Management trimmed several ​of ​its Big Tech stakes, exited Netflix, and took positions in Advanced Micro Devices and SpaceX during the second ‌quarter, according to regulatory disclosures filed Friday.

Here are more details ⁠from its quarterly 13-F filings with the U.S. Securities and Exchange Commission:

• The ‌hedge fund cut its Alphabet ‌holdings by 45.4% to 5.81 million shares as of June 30 from the end of March, and its Nvidia stake by ​6.8% to 11.20 million shares.

• It trimmed its Microsoft stake by 9.3% to 2.27 million shares and its Amazon position by 3.2% ⁠to 9.68 million shares.

• The hedge fund reduced its holding in Meta Platforms by 8.5% ​to 2.82 million.

• The filings showed that Tiger Global sold its entire 2.44 million-share Netflix position, valued at ​about $234.5 million, at the end of the ‌first quarter.

• The investment firm also cut its Broadcom stake by about 51% to 1.75 million shares ⁠and reduced its Taiwan Semiconductor Manufacturing holding by 12.3% to 4.88 million American depositary shares.

• Meanwhile, it more than doubled its stake in Intel to ⁠4.25 million shares from 1.64 million shares in the prior quarter.

• It also ​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.

• 13-F filings provide a snapshot of certain U.S.-listed equity holdings at the end of a quarter ‌but do not disclose subsequent trading, short positions or the fund's ⁠full portfolio.

• The changes in ‌holdings are as of ​June 30, compared with the prior quarter ended March 31.

(Reporting by Juby Babu in Mexico City; Editing by ‌Diti Pujara)

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