Tiger Global, which posted a 20 percent gain through October thanks in large part to big bets on Internet and technology stocks, shuffled its portfolio in the third quarter, dumping two of its top-10 holdings and replacing them with two new stocks.
The New York City firm, founded by Tiger Cub Chase Coleman and whose hedge fund is managed by Coleman and Feroz Dewan, cleared out its better than 3.3 million share stake in LinkedIn and its nearly 7.2 million share position in Makemytrip, an online travel company in India and the United States, at the end of the third quarter.
On the other hand, the firm made a big new bet on Yahoo, scooping up 25 million shares, big enough to rank as the fund’s sixth largest holding. Apparently...