Tech-focused hedge fund Tiger Global Management sold large chunks from several of its biggest positions within the fourth quarter , but investor Chase Coleman didn’t completely turn his back in the marketplace. Tiger Global trimmed its stake in most of its top holdings, in response to securities filings and VerityData’s InsiderScore.com. That features selling greater than 12% each in Microsoft and Workday , a 27% drawdown in JD.com and dumping greater than half its stake in ServiceNow . Nevertheless, Coleman’s fund did significantly increase its stake in Meta Platforms and Amazon , while adding a latest position in software stock ZoomInfo that was value nearly $188 million as of Dec. 31. Most of the newly disclosed trades were reversals from the third quarter . For instance, Tiger greater than tripled its holdings in DataDog throughout the third quarter before slashing its shares by 83% in the most recent period. Elsewhere, Tiger Global eliminated positions in RingCentral and Li Auto that were value about $99 million and $396 million, respectively, at the tip of the third quarter. The fund added smaller stakes in just a few names, including Confluent and Take-Two Interactive . The newest security filings show only the long equity positions for Tiger, and don’t reflect any potential hedges or shorts. The filings also don’t show when and at what price the portfolio changes were made. Coleman is one in every of the so-called Tiger Cub hedge fund managers who worked under Julian Robertson at Tiger Management. Tiger Global was one in every of the tech-focused hedge funds that was caught offsides by last yr’s sharp pullback for growth stocks. CNBC’s David Faber reported in June that the fund had lost over 50% of its value in the primary five months of 2022.
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