Key Takeaways
- Tiger Global executed significant portfolio adjustments, notably slashing its DoorDash (DASH) stake by 98.8% and completely exiting its position in PDD Holdings (PDD).
- The investment firm demonstrated strong conviction in major technology players, doubling its Block (SQ) stake by 109.3% and boosting Amazon (AMZN) by 62.2%.
- Other notable increases include Nvidia (NVDA) by 6.8%, Alphabet (GOOGL) by 3.1%, and Broadcom (AVGO) by 19%.
- Tiger Global also disclosed a new holding of 125,000 Class A shares in Circle Internet Group and significantly lifted its Reddit (RDDT) stake by 89.2%.
- In broader market news, CME Interest Rate Futures Open Interest hit a record 40 million contracts, while Richmond Fed's Barkin indicated that businesses are not planning layoffs despite hiring lags.
Tiger Global Management has unveiled substantial changes to its investment portfolio, reflecting a strategic pivot away from certain high-growth names while significantly increasing exposure to established tech giants and emerging platforms. The firm's latest disclosures indicate a dynamic approach to market opportunities.
Major Reductions and Exits
Among the most aggressive moves, Tiger Global slashed its stake in DoorDash (DASH) by a remarkable 98.8%, reducing its holding to just 25.3K Class A shares. The firm also completely exited its position in PDD Holdings (PDD), signaling a full divestment from the Chinese e-commerce giant. These actions suggest a re-evaluation of previous high-conviction growth plays. Furthermore, CrowdStrike (CRWD) saw a significant trim, with Tiger Global reducing its stake by 44.4% to 500K Class A shares.
Significant Increases in Tech and Pharma
Conversely, Tiger Global substantially increased its positions in several prominent technology companies. The firm doubled its Block (SQ) stake, increasing it by 109.3% to 3.9 million Class A shares. Similarly, its Amazon (AMZN) stake saw a 62.2% boost to 10.7 million shares. Investments in semiconductor leader Nvidia (NVDA) grew by 6.8% to 11.7 million shares, while Alphabet (GOOGL) saw a 3.1% increase to 10.6 million Class A shares. Broadcom (AVGO) also benefited from increased confidence, with its stake rising by 19% to 2.7 million shares.
Beyond the tech sector, Tiger Global demonstrated a continued interest in pharmaceuticals, upsizing its Eli Lilly (LLY) stake by 13.2% to 1.5 million shares.
New and Emerging Positions
In a notable new disclosure, Tiger Global revealed a holding of 125,000 Class A shares in Circle Internet Group, a key player in the stablecoin market. The firm also significantly lifted its Reddit (RDDT) stake by 89.2% to 6.1 million Class A shares, indicating growing interest in the social media platform. Additionally, AppLovin (APP) saw a 20.1% boost to its stake, reaching 2 million Class A shares.
Broader Market Commentary
In wider economic news, CME Interest Rate Futures Open Interest reached a record 40 million contracts, signaling heightened hedging activity and market engagement in interest rate derivatives. Meanwhile, Richmond Fed President Thomas Barkin provided an update on the labor market, stating that businesses are not planning layoffs despite a lagging pace of hiring, and that business sentiment is improving. Political commentary also made headlines, with former President Trump suggesting that a "good meeting" could bring peace soon, and expressing a desire for a meeting in Alaska. He also commented on Brazil, calling it "one of the worst trade partners" due to "very bad laws" and "tremendous" tariffs on the U.S.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.