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Value of stocks Tiger Global Management held was more than halved during the second quarter

The value of hedge fund Tiger Global Management’s equity holdings was more than halved during the second quarter, to $11.93 billion as of June 30 from $26.64 billion as of March 31. The reduced holdings come as the S&P 500 dropped 16.5% during the second quarter. Among some of the changes Tiger made to its portfolio during the quarter, it cut it’s stake in China-based electric vehicle maker XPeng Inc. to 4.36 million shares from 13.72 million shares and reduced its Coinbase Global Inc. holding to 151,536 shares from 836,597 shares, while selling off its 387,700-share bet on Salesforce Inc. , the 1,451 shares of Alibaba Group Holding Ltd. it held, the 1.04 million share investment in Zoom Video Communications Inc. and the 2.89 million Robinhood Markets Inc. it held. Meanwhile, Tiger boosted its stake in Amazon.com Inc. to 2.61 million shares from 147,743 shares, added a new Alphabet Inc. investment of 110,472 shares and initiated a 226,000-share bet on Zillow Group Inc. .Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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