Tiger Global, Yale Cut Stocks Last Quarter as Markets Tumbled
- Michael Burry’s Scion liquidated almost all long positions
- Amazon, which fell 35% in period, was popular for dip buyers
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Some of the biggest US institutional investors, from Tiger Global Management to Yale University’s endowment, were busy dumping stocks from their portfolios in the second quarter as markets cratered.
Chase Coleman’s Tiger Global, whose hedge fund plunged 50% through the first half of the year, picked up where it left off in the first quarter, as it continued to reduce risk. The firm’s aggregate exposure to stocks -- which includes share sales and declining values -- dropped by about 55% to $11.8 billion. That’s down from $46 billion at the end of 2021.