Tiger Global Management cuts largest holdings, doubles down on Nvidia, Apollo Global Management
Chase Coleman's Tiger Global Management took profits in many of his largest tech positions in the second quarter, but placed significant bets on Nvidia as well as some new positions in a pair of pharmaceutical companies, according to securities filings. Coleman lowered his exposure in six of his top 10 holdings, including some of the largest technology stocks. He trimmed his position in No. 2 holding Microsoft by $82.5 million, or 4.4%, and slashed his stakes in Amazon.
The key artificial intelligence beneficiary is up by about 200% this year. Coleman also took new positions in a pair of pharmaceutical stocks: Eli Lilly and Novo Nordisk. The pharmaceutical makers are higher this year by roughly 33% and 46%, respectively, on optimism surroudning their weight loss medications. Eli Lilly shares are also higher this year following positive trial results for its Alzheimer's drug. Uber was also a major buy in the quarter.
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