Tiger Global raises stake in Microsoft, Jack Dorsey's Block
14/11/2022 19:54
Nov 14 (Reuters) - Investment firm Tiger Global
Management has raised its stake in tech giant Microsoft Corp
MSFT.O and Jack Dorsey's payments firm Block Inc SQ.N , a
regulatory filing released on Monday showed.
The tech focused investor had logged losses earlier this
year as the Federal Reserve's fast-monetary policy tightening
and surging inflation weighed on the capital markets, triggering
a sell-off in the sector.
The hedge fund trimmed its investments in China's JD.com Inc
JD.O , digital banking firm Nu Holdings NU.N , software firm
Blend Labs Inc BLND.N and cybersecurity firm SentinelOne Inc
S.N .
The tech-heavy Nasdaq Composite Index .IXIC has lost
roughly 28% so far this year amid fears of a looming recession
and geopolitical turmoil.
Tiger Global also added Pagaya Technologies Ltd PGY.O and
payments processor PayPal Holdings PYPL.O to its portfolio of
investments.
The stakes disclosed in the so-called 13-F filing are as of
Sept. 30. The quarterly filings are one of the few ways that
funds are required to disclose their long positions, but may not
reflect current holdings.
The filings are closely watched for possible investment
trends and potential future performance.
(Reporting by Manya Saini in Bengaluru; Editing by Shailesh
Kuber)
((Manya.Saini@thomsonreuters.com;))