Tiger Global slashes Meta stake by 63% as Coatue increases bet
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American billionaire Chase Coleman’s hedge fund firm sold about 4.7 million Meta shares in the third quarter.
PHOTO: REUTERS
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NEW YORK – Tiger Global Management slashed its stake in Meta Platforms by nearly 63 per cent in the third quarter, reducing the firm’s biggest US long bet to its sixth-largest.
American billionaire Chase Coleman’s hedge fund firm sold about 4.7 million shares in the third quarter, leaving it with about 2.8 million shares at the end of September, according to a Nov 14 regulatory filing. And Lone Pine Capital, founded by fellow hedge fund manager Steve Mandel, sold off roughly 343,000 shares of Meta.
The move may have been prescient. Since the end of June, Meta shares have slumped nearly 18 per cent. Meta shares have come under pressure as investors express concerns that the technology company is spending heavily on its bets. The technology firm’s capital expenditures are expected to total as much as US$72 billion (S$93.5 billion) in 2025.
Not all investors are pulling back. Investment firm Coatue Management upped its stake in Meta, buying about 355,000 shares and moving it from the second-biggest holding by market value to its first.
The 13F filings reveal some insights into how the world’s biggest stock pickers, renowned for their secrecy, are positioned. Still, the details are limited. The mandatory filings show how hedge funds and other money managers were positioned as at the end of the third quarter, but do not show when precisely in that period funds bought or sold the stocks. The filings shed light on US long bets, but do not show short wagers that could be used as hedges.
Coatue, founded by Mr Philippe Laffont, axed a sizeable chunk of CoreWeave Inc, selling 62 per cent of its position. The firm now owns about 6.7 million shares, making it the firm’s 16th-biggest US stake, down from the top spot, according to a filing. CoreWeave stock surged earlier in 2025, but has dropped nearly 53 per cent since the end of June.
The group of so-called Tiger Cubs, firms created by alumni of Mr Julian Robertson’s Tiger Management, also include Mr Andreas Halvorsen’s Viking Global Investors. That firm more than tripled its stake in PNC Financial Services Group Inc during the third quarter, leaving it with nearly eight million shares.
Unlike its peers, Viking’s four biggest stocks are financial companies rather than tech firms. While PNC is now its largest holding by market value, Viking’s other big stakes are in JPMorgan Chase & Co, Charles Schwab Corp and Capital One Financial Corp. BLOOMBERG
