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Tiger Global Management sells Alphabet, taking the G out of its 'FANG' holdings

  • Tiger Global Management dissolved its stake in Google parent Alphabet but added to holdings of Facebook, Amazon.com and Netflix in the third quarter, a filing shows.
  • The hedge fund run by billionaire Chase Coleman also initiated stakes in Chinese social media company Weibo and its parent Sina.
  • The hedge fund also increased its holdings of Chinese e-commerce companies Alibaba and JD.com by 191,000 and 5.38 million shares, respectively.

Chase Coleman's Tiger Global Management hedge fund is buying all the "FANG" stocks, except Google.

In the third quarter, Tiger dissolved its $66 million stake in Google parent Alphabet, a required quarterly filing 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 nearly $500 million worth of Netflix shares, $275 million of Amazon.com and $229 million of Facebook.

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

Tiger also bet on the Chinese internet by initiating new stakes in Weibo — sometimes called China's version of Twitter — and its parent Sina.

The hedge fund also increased its holdings of Chinese e-commerce companies Alibaba and JD.com by 191,000 and 5.38 million shares, respectively. Alibaba reported record sales worth $25.4 billion on Singles Day, Nov. 11, while JD.com reported the equivalent of about $19.1 billion over its Singles Day shopping period, which began 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 has a net worth of $2.2 billion, according to Forbes.