Tiger Global Management made fresh bets on Apple in the first quarter, while expanding positions in several major tech companies that had a strong start to the year. The tech-focused hedge fund managed by Chase Coleman opened a stake worth more than $140 million in the iPhone maker in the first quarter, along with a new position in Taiwan Semiconductor Co with totaling about $148 million, according to securities filings released Monday. Both stocks are off to a strong start through 2023, up more than 33% and 16% respectively. Along with Apple, the fund has opened new positions in a range of semiconductor names, including Applied Materials (up 26% year-on-year), Lam Research (up 33% y/y), Palo Alto Networks (up 26% y/y), Palo Alto Networks (up 26% y/y), 37% year-over-year) and Nvidia benefits from AI, (100% growth in 2023). Tiger also increased its stakes in technology leaders such as Alphabet, Amazon and Microsoft in the first quarter. At the end of March, the fund’s largest holding, Microsoft, totaled more than $1.7 billion. Coleman increased his stake in parent company Google by more than 124% to about 8.4 million shares. The latest stock filings also show that Tiger has left small positions in Roblox, Warby Parker and PDD Holdings, Pinduoduo’s parent company. Coleman founded Tiger Global in 2001. He is widely known as one of the hedge fund managers Tiger Cub, who worked at Tiger Management under Julian Robertson.
