Tiger Global Cuts Alphabet 45%, Exits $234.5M Netflix Stake

Tiger Global's second-quarter 13-F reads like a tactical de-risking of crowded megacap positions. For finance and markets readers, the 45.4% cut in Alphabet, full Netflix exit, and doubling of Intel combine to show a positioning shift that may reflect valuation concerns and a pivot toward semiconductor diversification, even as AMD and SpaceX enter the book.

Tiger Global Management's second-quarter 13-F, filed with the U.S. Securities and Exchange Commission on Aug. 14, 2026, revealed a broad repositioning across its U.S. equity portfolio. The hedge fund sharply reduced several of its highest-profile Big Tech holdings, exited Netflix entirely, and established new positions in Advanced Micro Devices and SpaceX, according to the regulatory snapshot for the quarter ended June 30, 2026. The filing provides one of the most detailed public views available into how one of the technology sector's most closely watched investors is adjusting its book, but it comes with important limitations because 13-Fs disclose only long U.S.-listed equity positions and do not include short positions, derivatives, or trading that occurred after the quarter ended.

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The fund also cut Nvidia by 6.8% to 11.20 million shares, Microsoft by 9.3% to 2.27 million, Amazon by 3.2% to 9.68 million, and Meta Platforms by 8.5% to 2.82 million.

Among the reductions, Alphabet was the most significant on a percentage basis: Tiger Global cut its stake by 45.4% to 5.81 million shares. Broadcom was trimmed by approximately 51% to 1.75 million shares, while Taiwan Semiconductor Manufacturing's American depositary shares were reduced by 12.3% to 4.88 million. The fund also cut Nvidia by 6.8% to 11.20 million shares, Microsoft by 9.3% to 2.27 million, Amazon by 3.2% to 9.68 million, and Meta Platforms by 8.5% to 2.82 million. It sold its entire 2.44 million-share Netflix stake, which was valued at approximately $234.5 million at the end of the first quarter. In aggregate, these moves represent a meaningful de-risking of positions that have dominated the mega-cap technology complex.

On a percentage basis, the 45.4% Alphabet cut and the roughly 51% Broadcom reduction were the most aggressive trims in the filing. Amazon and Nvidia, by contrast, were only modestly reduced, which suggests Tiger Global retained conviction in those names while pruning others where valuations or position sizes had become uncomfortable. The new AMD stake, valued at about $392 million, is especially notable because it gives the fund direct exposure to the expanding AI accelerator market even as it pared Broadcom, which has its own AI networking franchise.

Not all of the activity was a retreat. Tiger Global more than doubled its Intel stake to 4.25 million shares from 1.64 million in the prior quarter and established a new AMD position of 674,727 shares valued at roughly $392 million as of June 30. That shift within the semiconductor complex—reducing Broadcom and TSMC while adding Intel and AMD—suggests a rotation among chip names rather than a wholesale exit from technology. Nvidia remains one of the largest disclosed positions, so the filing does not signal that the fund has abandoned the sector. The Broadcom reduction stands out because it was similar in magnitude to the Alphabet cut but involved a holding with significant AI-networking exposure, while the Intel addition suggests Tiger Global saw value or a potential turnaround.