Hedge fund Tiger Global Management has raised its stake in tech giant Microsoft Corp and Jack Dorsey's payments firm Block Inc, 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 investment firm trimmed its investments in China's JD.com Inc , digital banking firm Nu Holdings, software firm Blend Labs Inc. and cybersecurity firm SentinelOne Inc.
The tech-heavy Nasdaq Composite Index has lost roughly 28% so far this year amid fears of a looming recession and geopolitical turmoil.
Tiger Global also added Pagaya Technologies Ltd and payments processor PayPal Holdings 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.
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