Tiger Global shifts AI bets from mega-caps to chip challengers

Tiger Global Management overhauled its U.S. equity portfolio in the second quarter of 2026, according to its latest 13F filing with the SEC. The fund held 46 stocks with a total market value of approximately $23.98 billion as of June 30, while reducing all ten of its largest holdings, including TSMC, Amazon, Nvidia, Alphabet, Meta and Microsoft.

New capital focused heavily on AI chips and infrastructure. Tiger Global established a Cerebras Systems position of roughly 3 million shares, valued at approximately $660 million, and bought about 675,000 shares of AMD, worth approximately $392 million. It also raised its Intel stake to 4.25 million shares, a quarter-over-quarter increase of approximately 159.52%, and opened a Seagate Technology position tied to AI data center storage demand.

The largest reduction was Alphabet, with approximately 4.826 million shares sold, representing a reduction of roughly $1.72 billion and a portfolio impact of -6.07%. Broadcom was trimmed by approximately $690 million with a portfolio impact of -2.48%, while AppLovin and Zillow were fully exited. Overall, the position count fell from 54 in Q1 to 46 in Q2, with 17 stocks fully liquidated, 20 reduced, 9 new positions added, and 6 increased.