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Chase Coleman's Q1 2026 13F moves

By HoldLens EditorialPublished May 28, 2026

TL;DR

Tiger Global Management's Q1 2026 13F-HR (filed 2026-05-15) shows a decisive lean into AI hardware: Nvidia added to 9.2% of the book, TSMC up 49% by share count to 8.2%, Applied Materials up 85% to 2.5%, with Lam Research held. Funding it, Coleman halved Microsoft (−54% by share count, down to 4.1%) and trimmed a broad basket of software, fintech and gaming names — Take-Two (−66%), Apollo (−47%), Block (−37%), Reddit (−35%), ServiceNow (−29%), AppLovin (−23%). Meta was added; MercadoLibre is new. Alphabet stays the top holding at 13.4%, with Amazon and Sea Ltd held. Every move is reconstructable from EDGAR using Form 13F-HR.

The Q1 2026 picture

Tiger Global is a different animal from the concentrated value managers in this quarter's recaps. Coleman runs a broad, 53-position growth book — Julian Robertson seeded the fund in 2001, and it has been one of the largest tech-focused hedge funds ever since, famously rebuilding after the 2022 drawdown. Because the portfolio is wide, the signal is in where the weight shifts, not in single-name concentration. And in Q1 2026 the weight shifted clearly toward the picks-and-shovels of AI.

The AI-hardware build (where capital went)

Nvidia (NVDA) — added ~1.0M shares (+9% by share count); now the #2 position at 9.2% of the book.
TSMC (TSM) — added ~1.84M shares (+49%); up to 8.2%. The biggest proportional add among the large positions.
Applied Materials (AMAT) — added ~0.76M shares (+85%); to 2.5%. Semiconductor-equipment exposure roughly doubled.
Lam Research (LRCX) — held at 3.6%. Alongside the TSMC and AMAT adds, the semi-cap-equipment sleeve is now a deliberate cluster, not a single bet.
Meta Platforms (META) — added ~0.34M shares (+12%); to 7.7%. Tiger's longest-held name (since 2012), reinforced.
Brookfield (BN) +25%, Spotify (SPOT) +25%, Coupang (CPNG) +32% — added across infrastructure-adjacent and consumer-internet names; MercadoLibre (MELI) opened new at 1.0%.

The funding source — Microsoft + a software/fintech trim

Microsoft (MSFT) — cut ~2.98M shares (−54% by share count), down to 4.1%. The headline reduction: a core mega-cap roughly halved in a single quarter.
Take-Two (TTWO) −66%, Apollo (APO) −47%, Block (XYZ) −37%, Reddit (RDDT) −35%, ServiceNow (NOW) −29%, AppLovin (APP) −23%, Chime −22% — a broad trim across high-multiple software, fintech, and gaming. Capital pulled from the “application” layer and rotated toward the hardware that powers it.

What the pattern signals

The cleanest read is a rotation down the AI stack — from application and software platforms toward the semiconductors and equipment that supply them. Coleman added to Nvidia, sharply increased TSMC and Applied Materials, and held Lam Research, while halving Microsoft and trimming a basket of software, fintech, and gaming names. It is not a wholesale tech exit: Alphabet remains the top holding, Meta was added, and Amazon and Sea were held. The shift is in which part of tech Tiger wants exposure to.

The 13F alone cannot tell us why. The Microsoft cut could be valuation, a relative-value call against the hardware names, or position management in a 53-stock book. What the public record establishes is direction: at Q1 prices, Tiger Global moved capital toward the AI supply chain and away from the higher-multiple software and fintech layer.

For comparison, this quarter's recaps show several distinct mega-tech reads. Chris Hohn gutted Microsoft to deepen GE + Visa. Bill Ackman swapped Alphabet for Microsoft. David Tepper rotated China into US tech. Coleman's version trades the software layer for the hardware beneath it — the same public EDGAR record, four different conclusions.

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How to verify this yourself

Every position change above is reconstructable from public SEC EDGAR filings. Steps:

Open Tiger Global Management's 13F-HR filing history on EDGAR (CIK 0001167483).
Compare the Q1 2026 13F (filed 2026-05-15, report date 2026-03-31) line-by-line against the Q4 2025 13F (filed Feb 2026).
Position changes appear as: increased share counts (the NVDA, TSM, AMAT, META adds), decreased share counts (the Microsoft cut and the software/fintech trims), and new CUSIP rows (MercadoLibre).
Cross-reference with HoldLens's machine-readable /api/v1/snapshot/2026-Q1.json and the live Chase Coleman portfolio page.

Our view

Tiger Global's Q1 2026 13F is one of the cleaner thesis statements this cycle: buy the AI supply chain, lighten the AI application layer. Halving Microsoft while adding Nvidia, sharply increasing TSMC and Applied Materials, and holding Lam Research is a coherent move down the stack toward picks-and-shovels — and the simultaneous trim of Take-Two, Apollo, Block, Reddit, ServiceNow and AppLovin shows where the funding came from. It is not a tech retreat; Alphabet is still the largest position and Meta was added. Whether the call proves correct is something only time and Q2 returns can answer; the public record tells us how Tiger is positioned right now — tilted toward the hardware that makes the models run.

Famous trades — the public-record case studies

Six historical trades reconstructable from SEC EDGAR alone. Each essay traces the trade through 13F + Form 4 + DEF 14A filings.

Warren Buffett's Coca-Cola trade

Berkshire's 1988-89 KO purchase — $1.3B → ~$28B, untouched 37 years.

Warren Buffett's Apple position

Berkshire's 2016-onward AAPL accumulation — largest equity position in firm history.

Warren Buffett's Bank of America 2011 deal

The $5B preferred + 700M-share warrants at $7.14 strike. ~$13B paper gain at 2017 exercise.

David Tepper's 2009 bank trade

Appaloosa's $2B March 2009 distressed-bank bet (BAC + C + AIG). ~$7B returned. $4B Tepper payday.

Michael Burry's Big Short

Scion Capital's 2005-2008 subprime CDS trade — ~489% net return.

Bill Ackman's Herbalife short

Pershing Square's 2012-2018 multi-year activist campaign.

Black Wednesday — the Quantum Fund pound trade

September 16, 1992. The single-day macro trade that broke the Bank of England.

Charlie Munger's Costco position

1997-2023 hold + board seat — the canonical long-duration value position.

Carl Icahn's Apple buyback campaign

2013-2016 long-side activism — public letter to Tim Cook, ~$2B realized gain.

See all 6 essays in the Famous Trades collection →

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