Key Takeaways
- • Tiger Global Management reduced its Meta Platforms stake by 62.6% to 2.8 million shares (valued at approximately $2.1 billion) during Q3 2025, downgrading the position from its largest U.S. long holding to its sixth-largest, according to Nov. 14 regulatory filings.
- • Chase Coleman's hedge fund sold approximately 4.7 million Meta shares in the third quarter, while simultaneously liquidating positions in Eli Lilly, Novo Nordisk, and CrowdStrike, and establishing new stakes in Netflix and Klarna.
- • Meta shares declined nearly 18% since end-of-June as investor concerns mounted over the company's projected $72 billion capital expenditure for 2025, with Tiger Global's timing appearing prescient relative to subsequent market weakness.
- • Coatue Management moved in the opposite direction, increasing its Meta holdings by purchasing 355,000 shares and elevating the position to its largest U.S. holding by market value, demonstrating divergent conviction among elite hedge fund managers.
- • Tiger Global's year-to-date performance through mid-2025 stood at approximately 4.5% returns, trailing most top multi-strategy fund peers, suggesting broader performance headwinds beyond individual position management.
Summary
Tiger Global Management, the hedge fund founded and led by Chase Coleman, executed a significant reduction in its Meta Platforms stake during the third quarter of 2025, cutting exposure by 62.6% to 2.8 million shares valued at approximately $2.1 billion as of September 30. The divestment, encompassing roughly 4.7 million shares sold during the quarter, downgraded Meta from Tiger Global's largest U.S. long position to its sixth-largest holding, according to regulatory 13F filings released November 14.
The timing of Tiger Global's exit proved consequential. Since the end of June, Meta shares have depreciated nearly 18% amid investor apprehension regarding the company's substantial capital expenditure commitments, with the technology firm projecting capex of up to $72 billion for 2025. Beyond Meta, Tiger Global dissolved positions in several high-profile names including pharmaceutical companies Eli Lilly and Novo Nordisk as well as cybersecurity vendor CrowdStrike, while establishing new investments in streaming giant Netflix and buy-now-pay-later firm Klarna.
The hedge fund's Meta reduction contrasts sharply with positioning by rival managers. Coatue Management, founded by Philippe Laffont, moved to increase its Meta holdings by purchasing approximately 355,000 shares, elevating the position to its largest U.S. stake by market value. Meanwhile, Lone Pine Capital, led by Steve Mandel, divested roughly 343,000 Meta shares. These divergent moves underscore differing assessments among elite stock-picking funds regarding Meta's investment thesis amid elevated capital allocation uncertainty.
Tiger Global's performance context adds dimension to the portfolio decisions. The fund ended the first half of 2025 with returns of approximately 4.5%, trailing most of its top multi-strategy fund peers, suggesting broader performance pressures beyond individual security selection. The 13F disclosures, while mandatory and revealing positions as of quarter-end, provide limited visibility into precise timing of transactions and exclude short positions that may serve as hedges to long portfolios.
The timing of Tiger Global's exit proved consequential. Since the end of June, Meta shares have depreciated nearly 18% amid investor apprehension regarding the company's substantial capital expenditure commitments, with the technology firm projecting capex of up to $72 billion for 2025. Beyond Meta, Tiger Global dissolved positions in several high-profile names including pharmaceutical companies Eli Lilly and Novo Nordisk as well as cybersecurity vendor CrowdStrike, while establishing new investments in streaming giant Netflix and buy-now-pay-later firm Klarna.
The hedge fund's Meta reduction contrasts sharply with positioning by rival managers. Coatue Management, founded by Philippe Laffont, moved to increase its Meta holdings by purchasing approximately 355,000 shares, elevating the position to its largest U.S. stake by market value. Meanwhile, Lone Pine Capital, led by Steve Mandel, divested roughly 343,000 Meta shares. These divergent moves underscore differing assessments among elite stock-picking funds regarding Meta's investment thesis amid elevated capital allocation uncertainty.
Tiger Global's performance context adds dimension to the portfolio decisions. The fund ended the first half of 2025 with returns of approximately 4.5%, trailing most of its top multi-strategy fund peers, suggesting broader performance pressures beyond individual security selection. The 13F disclosures, while mandatory and revealing positions as of quarter-end, provide limited visibility into precise timing of transactions and exclude short positions that may serve as hedges to long portfolios.
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