Tiger Global Slashes Alphabet 45%, Adds $392M AMD Stake

For allocators tracking 13Fs, Tiger Global's Q2 2026 submission provides a rare window into how one of the most aggressive technology investors is repositioning after the mega-cap AI rally. The firm cut Alphabet by 45 percent, Broadcom by 51 percent, and exited Netflix, while opening a $392 million AMD stake. The rotation suggests profit-taking in crowded trades and a targeted bet on AI compute challengers and private space.

Tiger Global Management’s Q2 2026 Form 13F, filed with the U.S. Securities and Exchange Commission and reported on August 15, shows a deliberate retreat from the largest technology positions and the opening of two strategically significant new positions. The firm cut its Alphabet holding by roughly 45 percent, from about 10.63 million shares at March 31 to 5.81 million at June 30. Broadcom was reduced by about 51 percent, from 3.59 million shares to 1.75 million. Nvidia slipped to 11.20 million shares from 12.01 million, Microsoft to 2.27 million from 2.50 million, Meta to 2.82 million from 3.09 million, Amazon to 9.68 million from 10 million, and Taiwan Semiconductor Manufacturing Company to 4.88 million ADRs from 5.57 million. Netflix, which Tiger Global disclosed at 2.44 million shares in March, disappeared entirely from the June filing. At the same time, Advanced Micro Devices appeared as a new position of 674,727 shares valued at approximately $392 million, and a SpaceX position was listed with 375,000 shares.

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At the same time, Advanced Micro Devices appeared as a new position of 674,727 shares valued at approximately $392 million, and a SpaceX position was listed with 375,000 shares.

On its face, the filing reads as a broad de-risking in big-cap information technology and communication services. But the cuts are not uniform; they range from a 3.2 percent Amazon trim to a complete Netflix exit and a 51 percent Broadcom reduction. The firm retained substantial positions in Nvidia, Microsoft, Amazon, and Meta, so this is not a wholesale abandonment of mega-cap technology. Rather, the pattern suggests profit-taking in names that have contributed heavily to portfolio gains, reduction of concentration risk, and a shift toward what Tiger Global may view as the next phase of AI infrastructure. The new AMD position is particularly revealing because AMD was absent from the prior quarter's filing. At roughly $392 million, the stake is meaningful but not dominant; it signals that Tiger Global sees AMD as a credible challenger in AI accelerators and data center CPUs, or at least as an attractive relative valuation opportunity after the AI infrastructure rally.

The SpaceX disclosure carries added nuance. SpaceX is a privately held company, and standard 13F filings generally list only exchange-traded equity securities and certain related instruments. Its appearance in a 13F therefore either reflects a holding through a reportable vehicle, a convertible or special-purpose security, or a reporting anomaly that the syndicated articles do not clarify. What the filing does make clear is that Tiger Global believes private space launch and satellite infrastructure is an important enough position to disclose in its quarterly regulatory reporting. For a firm that built its reputation on public and late-stage technology investing, adding a private-company exposure alongside AMD suggests a broadening of its technology thesis beyond publicly listed software and internet platforms.

The cuts in AI-exposed names—Alphabet, Broadcom, Microsoft, Nvidia, Meta, Amazon, and TSMC—should be interpreted against market conditions in mid-2026. By June 30, the AI trade had driven valuations and concentration risk to elevated levels. Tiger Global, like many large allocators, may have used the second quarter to trim winners and recycle capital into less crowded or earlier-stage opportunities. The Broadcom reduction of 51 percent is the most aggressive, which could reflect concerns about valuation, customer concentration, or semiconductor cyclicality. The Netflix exit is less surprising given the firm’s broader move away from streaming media; after the Q1 filing showed 2.44 million shares, the complete removal suggests a loss of conviction or a decision to redeploy into higher-conviction positions.