Chase Coleman's Tiger Global Management hedge fund is buying all the "FANG" stocks, except Google. In the third quarter, Tiger dissolved its $66 million stake in Google parent Alphabet (GOOGL), a required quarterly filing with the U.S. Securities and Exchange Commission showed Tuesday. But the hedge fund added to its holdings in the other so-called FANG stocks: buying nearly $500 million worth of Netflix (NFLX) shares, $275 million of Amazon.com (AMZN) and $229 million of Facebook (FB). Coleman's fund also increased its stake in Fiat Chrysler (Milan Stock Exchange: FCA-IT) by 3.88 million shares, or $222 million, and initiated a $137 million stake in design software company Autodesk (ADSK). Tiger also bet on the Chinese internet by initiating new stakes in Weibo (WB) — sometimes called China's version of Twitter — and its parent Sina (SINA). The hedge fund also increased its holdings of Chinese e-commerce companies Alibaba (BABA) and JD.com (JD) by 191,000 and 5.38 million shares, respectively. Alibaba reported record sales worth $25.4 billion on Singles Day, Nov. 11, while JD.com reported the equivalent of about $19.1 billion over its Singles Day shopping period, which began on Nov. 1. The third-quarter filing also showed Tiger held shares of three recent initial public offerings: Redfin (RDFN), Roku (ROKU) and Argentine online travel company Despegar.com (DESP). Coleman has a net worth of $2.2 billion, according to Forbes.
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