A $20 billion investment firm dumped its huge trade in Apple - and bet on Alphabet and Microsoft
In the fourth quarter of 2015, the firm made a $1.1 billion bet on Apple, and over the course of 2016 started shedding the shares, regulatory filings show.
Tiger dropped $407 million in remaining shares of Apple in the fourth quarter of last year, filings show.
Bloomberg analyzed the data based off of a regulatory filing that the $20 billion investment firm filed February 14.
The quarterly filing, called a 13F, lists the long stock positions of investment firms.
The positions are current as of 45 days prior, so it is possible that Tiger Global has since changed its positions.
Tiger Global Management invests in private and public markets and manages about $20 billion firmwide. The firm managed $5.9 billion in hedge fund assets as of mid-year 2016, according to the Hedge Fund Intelligence Billion Dollar Club ranking.