Tiger Global Management made a new bet on Apple in the first quarter, while expanding positions in some major technology players that posted a strong start to the year. The tech-centric hedge fund managed by Chase Coleman opened a more than $140 million stake in the iPhone maker in the first quarter, along with a new position in Taiwan Semiconductor totaling about $148 million, according to securities filings released Monday. Both stocks have seen a strong start to 2023, rising more than 33% and 16%, respectively. Along with Apple, the fund opened new positions in a host of semiconductor names, including Applied Materials (up 26% this year), Lam Research (up 33% YTD), Palo Alto Networks (37% higher YTD) and AI-beneficiary Nvidia, (up 100% in 2023). Tiger also upped its stake in technology leaders 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 the Google parent by more than 124% to about 8.4 million shares. The latest securities filings also showed Tiger exited small positions in Roblox , Warby Parker and Pinduoduo parent PDD Holdings . Coleman founded Tiger Global in 2001. He is widely known as one of the Tiger Cub hedge fund managers who worked at Tiger Management under Julian Robertson.
