Hedge fund Tiger Global dissolved its stake in Rivian Automotive Inc (NASDAQ: RIVN) and Netflix Inc (NASDAQ: NFLX) in the first quarter and significantly lowered its exposure to Uber Technologies Inc (NASDAQ: UBER). It more than doubled its positions in Chinese EV makers Xpeng Inc (NYSE: XPEV) and Li Auto Inc (NASDAQ: LI), according to regulatory filings.
What Happened: The Chase Coleman-founded hedge fund, popular for its mega bets on technology firms, completely exited its position in Rivian, the high-profile EV maker that went public last year and has been under pressure after missing some key production and delivery targets.
