Tiger Global Management offers Alphabet, taking the G out of ‘FANG’

Chase Coleman’s Tiger Global Control hedge fund is shopping for all the “FANG” stocks, except Google.

In the 3rd quarter, Tiger dissolved its $66 million stake in Google parent Alphabet, a needed quarterly submitting with the U.S. Securities and Exchange Commission showed Tuesday.

But the hedge fund added to its holdings in the other so-called FANG stocks: buying practically $500 million well worth of Netflix shares, $275 million of Amazon.com and $229 million of Facebook.

Coleman’s fund also increased its stake found in Fiat Chrysler by 3.88 million shares, or $222 million, and initiated a $137 million stake in model software company Autodesk.

Tiger also gamble on the Chinese internet by simply initiating new stakes found in Weibo – sometimes called China’s variant of Twitter – and its parent Sina.

The hedge fund also increased its holdings of Chinese e-commerce companies Alibaba and JD.com simply by 191,000 and 5.38 million shares, respectively. Alibaba reported record sales well worth $25.4 billion on Singles Time, Nov. 11, while JD.com reported the same as about $19.1 billion over its Singles Day store shopping period that started out on Nov. 1.

The third-quarter filing also showed Tiger held shares of three recent initial public offerings: Redfin, Roku and Argentine online travel company Despegar.com.

Coleman includes a net worth of $2.2 billion, according to Forbes.

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