Tiger Global

Full summary

Tiger Global disclosed a broad rebalancing in its Q2 2026 13F filing, marked by a sharp reduction in semiconductor exposure and a pivot toward financial services and healthcare. The fund trimmed or exited several large chip positions—cutting AVGO by 51% quarter-over-quarter (−$446.9M), LRCX by 19% (−$537.5M in notional value despite share reduction), and SPOT by 26% (−$228.7M)—while simultaneously opening new positions in CBRS (3% of disclosed book, $662.8M) and AMD (2% of disclosed book, $392.0M). The AMD entry and INTC addition of +2.6M shares (+160% QoQ, +$521.5M) suggest a selective redeployment within semiconductors rather than a full sector exit. On the fintech and payments side, Tiger opened a $274.0M position in Visa (V, 1% of portfolio) and added to CPAY (+23% QoQ, +$206.6M), signaling conviction in payment infrastructure. The fund also initiated a $662.8M stake in Cerebrus (CBRS), its largest new position by dollar value. Concurrently, Tiger trimmed or reduced exposure across a range of mega-cap and growth names—META (−9% QoQ, −$175.8M), MSFT (−9% QoQ, −$79.8M), NOW (−42% QoQ, −$70.1M), SE (−19% QoQ, −$73.0M), and JD (−41% QoQ, −$5.0M)—while maintaining small adds to CPNG (4th consecutive quarter, +1.9M shares), MELI (+13% QoQ, +$26.5M), RDDT (+1% QoQ, +$102.3M), and XYZ (+14% QoQ, +$107.1M). The largest reduction on record was a −$982.4M cut to GOOGL (since 2025-Q2), though this move falls outside the disclosed 13F event list. The window reveals a fund rotating away from mature semiconductor and software positions into selective fintech, healthcare, and emerging-market e-commerce bets, with INTC and CBRS as the anchors of the new positioning.

Underlying filings

1. Institutional holdingTiger GlobalJun 30, 2026Trimmed UNH · −53.0k shares · +$28.8M
2. Institutional holdingTiger GlobalJun 30, 2026Opened position in V · 798.7k shares · $274.0M
3. Institutional holdingTiger GlobalJun 30, 2026Trimmed PONY · −2.6M shares · −$25.2M
4. Institutional holdingTiger GlobalJun 30, 2026Trimmed LRCX · −736.9k shares · +$537.5M
5. Institutional holdingTiger GlobalJun 30, 2026Trimmed MSFT · −233.1k shares · −$79.8M
6. Institutional holdingTiger GlobalJun 30, 2026Trimmed JD · −142.8k shares · −$5.0M
7. Institutional holdingTiger GlobalJun 30, 2026Trimmed SE · −2.9M shares · −$73.0M
8. Institutional holdingTiger GlobalJun 30, 2026Trimmed META · −263.7k shares · −$175.8M
9. Institutional holdingTiger GlobalJun 30, 2026Trimmed NOW · −626.5k shares · −$70.1M
10. Institutional holdingTiger GlobalJun 30, 2026Opened position in CBRS · 3.0M shares · $662.8M
11. Institutional holdingTiger GlobalJun 30, 2026Trimmed AVGO · −1.8M shares · −$446.9M
12. Institutional holdingTiger GlobalJun 30, 2026Trimmed GEV · −175.5k shares · +$87.6M
13. Institutional holdingTiger GlobalJun 30, 2026Added to INTC · +2.6M shares · +$521.5M
14. Institutional holdingTiger GlobalJun 30, 2026Trimmed SPOT · −409.3k shares · −$228.7M
15. Institutional holdingTiger GlobalJun 30, 2026Opened position in APLD · 885.0k shares · $33.0M
16. Institutional holdingTiger GlobalJun 30, 2026Opened position in CIFR · 927.0k shares · $22.7M
17. Institutional holdingTiger GlobalJun 30, 2026Opened position in AMD · 674.7k shares · $392.0M
18. Institutional holdingTiger GlobalJun 30, 2026Added to CPAY · +397.7k shares · +$206.6M
19. Institutional holdingTiger GlobalJun 30, 2026Added to XYZ · +576.0k shares · +$107.1M
20. Institutional holdingTiger GlobalJun 30, 2026Trimmed AMZN · −316.4k shares · +$225.3M
21. Institutional holdingTiger GlobalJun 30, 2026Added to RDDT · +28.8k shares · +$102.3M
22. Institutional holdingTiger GlobalJun 30, 2026Added to CPNG · +1.9M shares · −$19.7M
23. Institutional holdingTiger GlobalJun 30, 2026Added to MELI · +18.1k shares · +$26.5M