Chase Coleman Q1 2026 Portfolio — TSM Up 49%, Exits FLUT, VEEV

Chase Coleman disclosed in Tiger Global Management's Q1 2026 13F filing that it expanded its TSM position by 49% while fully exiting five stocks, including FLUT, VEEV, and GRAB. Tiger Global's total assets under management (AUM) stand at $20.4 billion across 20 holdings, with GOOGL as the largest position at 13.4%.

Top 5 Holdings — Q1 2026

• GOOGL: $3.1B (13.4%)
• NVDA: $2.1B (9.2%)
• AMZN: $2.1B (9.1%)
• TSM: $1.9B (8.2%)
• META: $1.8B (7.7%)

Key Portfolio Moves This Quarter

Coleman's top 10 holdings account for 74.5% of the total portfolio. GOOGL remained the largest position at 13.4%, followed by NVDA, AMZN, META, and TSM. Notably, the TSM stake grew 49% quarter-over-quarter to $1.9 billion, significantly expanding exposure to semiconductor foundry operations, while continued holdings in AVGO and LRCX suggest a concentrated bet across the AI infrastructure supply chain. The META position also grew 12%, reaffirming conviction in the Big Tech advertising and AI capex cycle.

• TSM: position expanded 49% to $1.9B — signals stronger AI semiconductor foundry exposure
• FLUT: fully exited at $861M — de-risking from the fintech/betting sector
• MELI: new position at $233M — bet on Latin American e-commerce growth

Meanwhile, fintech and software names were broadly cleared out. Online betting operator FLUT ($861M), healthcare software firm VEEV ($540M), Southeast Asian platform GRAB ($464M), collaboration tool WDAY ($215M), and search technology firm ELASTIC N V ($128M) were all fully exited, trimming small-cap growth risk. In their place, Tiger Global added a new $233M position in Latin American e-commerce player MELI, along with new stakes in LITE, EQPT, INTC, and RVI. Positions in TTWO (-66%), MSFT (-54%), and APO (-47%) were sharply reduced, marking a quarter of simultaneous profit-taking and portfolio restructuring.

AI Infrastructure Focus Set to Continue Alongside Small-Cap Growth Trim

This quarter's rebalancing by Coleman reaffirms a Big Tech- and semiconductor-centered bet on AI infrastructure, while trimming exposure to fintech and small/mid-cap growth names. Whether Tiger Global continues adding to semiconductor supply chain names like TSM, NVDA, and AVGO — and how quickly it unwinds reduced positions such as MSFT and TTWO — will be the key variables to watch in next quarter's 13F.