How Tiger Global Relearned to Hunt in 2025 (And What Investors Can Learn)

🎯 FunFund Index™: 8.3 / 10 🎯

Tooltip explainer: The FunFund Index blends performance, portfolio quality, risk discipline, and “narrative sanity.” An 8.3 means: strong returns, smarter positioning, fewer YOLO bets, and a strategy that actually makes sense in the real world.

After spending a few years wandering through the Valuation Desert (2022 was… not great), Tiger Global Management came roaring back in 2025. And no, this wasn’t a “throw more money at the problem and pray” comeback. This was a diet, discipline, and deadlift kind of comeback. 🏋️♂️

Led by Chase Coleman, Tiger essentially put itself through a Strategic Reset: fewer deals, higher conviction, more patience, and a heavy tilt toward the plumbing of the AI economy rather than just the shiny apps on top.

The headline numbers are attention-grabbing:

• 📈 PIP 16 (private fund): +33% YTD

• 📈 PIP 15: +16% YTD

• 💼 Public 13F portfolio: ~$32.3B (Q3 2025)

• 🧠 New private deals in 2025: just 9 (down from 200+ in 2021)

Translation? Tiger stopped spraying and started sniping. 🎯

🧾 Part I — Performance: The Rebound of the “Conviction” Model

2025 was the year Tiger proved that less is more.

Instead of chasing every growth story with a pulse, the firm focused on:

• Recycling capital out of weaker bets

• Doubling down on true winners (think OpenAI, Waymo, ByteDance, Revolut)

• Letting time—and compounding—do the heavy lifting

A few key scoreboard items:

• 🧠 PIP 16: +33% YTD — Driven largely by AI-linked private winners. Call it “AI Alpha,” but with fewer buzzwords and more actual cash flows.

• 🔁 PIP 15: +16% YTD — A solid recovery after the 2022–2023 markdown hangover.

• 🏦 Public portfolio: ~$32.3B — Leaner, meaner, and very tech-heavy.

• 🧮 Capital recycling — Tiger exited 85+ positions from older funds to free up over $1B to feed its top convictions.

Think of 2025 Tiger like a hedge fund that finally reinstalled the “Are we sure about this?” button. 🔘

🧩 Part II — Portfolio: The “AI & Infrastructure” Pivot

Tiger’s Q3 2025 13F reads like a love letter to the backbone of modern tech.

🏛️ The New Core

The holy trinity at the center of the public portfolio:

• 🅰️ Alphabet

• 🪟 Microsoft

• 📦 Amazon

Together, they make up close to 30% of the portfolio. That’s not diversification—that’s conviction with a capital C.

🧱 The Shovels, Not Just the Gold

Tiger also loaded up on the infrastructure layer:

• 🖥️ NVIDIA — The arms dealer of the AI revolution

• 🏭 TSMC — The factory floor of the digital world

• 🛠️ Lam Research — The picks-and-shovels supplier to chipmakers

This is a classic smart-money move: don’t just bet on who finds gold—own the people selling the shovels.

🩸 The “Meta” Massacre

One of the most eye-catching moves:

• 📉 Meta Platforms cut by ~62%

This isn’t necessarily anti-Zuck. It looks more like a reallocation away from ad-driven growth and toward AI infrastructure and platforms. Less dopamine, more data centers.

🚪 The Clean Exits

Tiger fully exited:

• 🛡️ CrowdStrike

• 💊 Eli Lilly

Selling Lilly—arguably the poster child of the GLP-1 weight-loss boom—suggests Tiger thinks that trade is fully priced. Instead, they rotated into names like GE Vernova, betting on energy and infrastructure as the next bottleneck.

🧠 Part III — The Big Insight: The Tiger Finds Its Stripes (Again)

After years in the “valuation wilderness,” Tiger didn’t just recover—it evolved.

A) 🧘♂️ Humility as a Strategy

In its 2025 investor communications, Tiger used a word rarely seen on Wall Street: humility.

They openly acknowledged that:

• AI valuations are elevated

• Many prices are not fully supported by fundamentals

• Great returns do not cancel out great risks

Retail lesson:
If a $50B fund that just made +33% is still nervous, you should be too. You can ride a trend without marrying it. Greed is fine. Blindness is not.

B) 🐘 Size Is the Enemy of Returns

Historically, Tiger’s best returns came from funds under $3B. The mega-funds ($12B+) struggled. So what did they do?

• 🚼 Launched PIP 17 targeting a more “modest” $2.2B

• 🎯 Refocused on fewer, higher-conviction bets

Retail lesson:
Your biggest edge is that you’re small. You can move fast, enter niche ideas, and exit without moving markets. You don’t need 100 or even 500 positions to look “professional.” You need clarity.

C) 🏆 The 16x Exit: Patience Pays

Tiger’s exit from Ather Energy in India delivered a 16.2x return. They held through:

• “India is the next big thing” cycles

• “India is uninvestable” panics

• Multiple macro mood swings

Retail lesson:
Real wealth is built in the holding, not the trading. If you truly believe in a secular trend, you need a multi-year stomach. The market pays impatience with stress and patience with zeros.

🐯 The FUNanc1al Verdict

Tiger Global in 2025 is like a heavyweight boxer who realized he was getting slow, dropped 40 pounds, and went back to fundamentals. 🥊

By cutting the “spray and pray” fluff and focusing on AI platforms, infrastructure, and a tighter portfolio, Chase Coleman put the firm back in fighting shape. They’re no longer trying to own everything—they just want to own the best parts of the future.

And honestly? That’s usually how the big money gets made.

⚡ Quick Take / TL;DR

• 🐅 Tiger Global is back in form after its post-2021 hangover

• 📈 PIP 16: +33% YTD, driven by AI-linked private bets

• 🧠 Strategy shift: fewer deals, higher conviction, more patience

• 🧱 Portfolio now favors AI + infrastructure over hype

• 🏆 Big lesson: discipline beats FOMO, and patience still prints money

❓ FAQ

Q: Is Tiger Global still heavily tech-focused?
Yes—but with a twist. It’s less about speculative growth apps and more about platforms, chips, and infrastructure.

Q: Why did they cut Meta so aggressively?
It looks like a capital reallocation toward higher-conviction AI and infrastructure plays rather than ad-driven growth.

Q: Does this mean AI is overvalued?
Even Tiger says valuations are “elevated.” That doesn’t mean “don’t invest.” It means don’t invest blindly.

Q: What’s the biggest takeaway for retail investors?
Your edge is focus, patience, and flexibility. You don’t need Tiger’s size—you need Tiger’s 2025 discipline.

✍️ About the Author

Frédéric Marsanne is the founder of FUNanc1al — part market analyst, part storyteller, part accidental comedian. A longtime investor, entrepreneur, and venture-builder across tech, biotech, and fintech, he now blends sharp insights with a twist of humor to help readers laugh, learn, live better lives, and invest a little wiser. When not decoding insider buys or poking fun at earnings calls, he’s building Cl1Q, writing fiction, painting, or discovering new passions to FUNalize.

🧾⚠️📢 Fun(anc1al) but Serious Disclaimer: 🧾⚠️📢

This article is for informational and educational purposes only and does not constitute investment advice. Investing involves risk, including the possible loss of principal. Past performance is not indicative of future results. Always do your own research or consult a qualified financial advisor before making investment decisions. Resist FOMO and never invest money you can’t afford to lose. 

We are not hedge fund managers. We do not wear parachutes to rooftop parties. Markets evolve. Machines adapt. Investors should too.

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