Tiger Global’s public-equity business, run by Scott Shleifer, initiated a new position in Apple during the fourth quarter, according to the fund’s latest 13F filing.
During Q4, Tiger Global, an investment service, bought 10.6 million shares of the tech giant’s stock, a position valued at more than $1.1 billion on December 31, 2015.
Apple is now the fund’s fourth-largest equity holding. Apple’s stock has fallen about 8% this year.
The fund’s other billion-dollar-plus bets include Amazon (3.19 million shares), Netflix (17.9 million), and JD.com (59.6 million), the filing shows.
All three of those tech stocks have fallen about 22% each this year.
Hedge funds have to disclose only their long-equity holdings every quarter in these filings. What’s more, the filings aren’t published until 45 days after the end of the quarter, so it’s possible that funds could have traded in and out of positions.
As reported by Business Insider