Tiger Global Adds Microsoft, Alphabet, Uber And This Bitcoin Play In Q3

Tiger Global Management has increased its stake in tech giants on Wall Street while simultaneously cutting its stake in some of the Chinese EV players, according to its SEC filings.

Tiger Global has loaded up on over 845,000 shares of Microsoft Corporation MSFT during the third quarter, taking its holdings to over $1.39 billion. The company also picked up over 3.26 million Class A shares of Alphabet Inc GOOGL GOOG in Q3 taking its holding to over $523 million.

Also Read: Best Brokerage And Investment Apps

Shares of Microsoft are down over 27% this year, while Alphabet shares have lost over 34%.

The investment firm also bought shares of ride-hailing company Uber Technologies Inc UBER and stocks of Bitcoin-focused BTC/USD fintech firm Block Inc SQ during the quarter.

China Companies: Tiger Global has entirely sold off its stake in Chinese EV player Xpeng Inc XPEV as it offloaded over 4.35 million shares of the company.

The firm also trimmed its stake in Chinese e-commerce giant JD.Com Inc JD having sold over 660,000 shares in Q3 to bring down its holding to just above $1.5 billion, SEC filings show. The long-time China investor reportedly paused investing in China equities as the company re-examined its exposure to the country following Xi Jinping’s historic re-election for a third term.

Tiger executives, including founder Charles “Chase” Coleman, have told others that Xi’s re-election and his selection of loyalists for the Communist Party’s leadership could lead to a rise in geopolitical tensions and the country’s Zero-COVID policy may continue.

Despite these apprehensions, Tiger Global raised its stake in Li Auto Inc LI during the quarter, the SEC filings show.

Read Next: Alibaba Up Over 2%, Nio Down 3%: Hong Kong Stocks Mixed As Varying Voices From Fed Cool Rally Down

Photo courtesy of Square.