Tiger Global’s public funds reported net gains for the first quarter, outperforming the market. TGI gained 2.5%, while TGX added 2.9%, and TGLO returned 0.4%. The firm’s public long positions generated alpha but were off slightly for Q1, with all of Tiger Global’s gains coming from TGI’s short book, which also contributed alpha.
The firm’s private holdings also generated gains during Q1 with the biggest increases coming from OpenAI, Stripe, Scale AI, ByteDance and Databricks.
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Slashing net exposure
Like many other funds, Chase Coleman’s Tiger Global cut its net exposure during the first quarter, although it slashed its net exposure by more than a third. Due to significant uncertainty around the recent policy...
