A logo of Meta sits outside the Meta House on the opening day of the 55th annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, January 20, 2025. REUTERS/Yves Herman
NEW YORK (Reuters) -Tiger Global Management, the hedge fund founded and led by Chase Coleman, slashedits stake in Facebook parent Meta Platforms during the third quarter, according to a filing released on Friday.
During the quarter ended September 30, Tiger Global reduced its holdings in Meta by 62.6% to 2.8 million of the company's shares, valuing the stake at about $2.1 billion. The firm also dissolved its positions in some other high-profile names including drugmakers Eli Lilly, Novo Nordisk and cybersecurity firm CrowdStrike.
Tiger Global, which is an offshoot of famed investor Julian Robertson's firm and is part of a cohort of stock-picking funds popularly known as Tiger Cubs, took new positions in streaming giant Netflix and buy-now-pay-later firm Klarna.
Tiger Global ended the first half of 2025 up roughly 4.5%,trailing most of its top multi-strategy fund peers.
(Reporting by Anirban Sen in New York; Editing by Matthew Lewis)
