Tiger Global Slashes Meta Stake by 63% as Coatue Increases Bet

Tiger Global Management slashed its stake in Meta Platforms Inc. by nearly 63% in the third quarter, reducing the firm’s biggest US long bet to its sixth-largest.

Chase Coleman’s hedge fund firm sold about 4.7 million shares in the third quarter, leaving it with about 2.8 million shares at the end of September, according to a regulatory filing Friday. And Lone Pine Capital, founded by Steve Mandel, sold off roughly 343,000 shares of Meta.