Tiger Global Management, Maverick Capital and other so-called Tiger Cubs trimmed their holdings in technology stocks during the second quarter, taking a different tack than other large money managers who loaded up on the sector.

Chase Coleman’s Tiger Global and Lee Ainslie’s Maverick shrank their tech stakes by 5,2% and 3.5%, respectively, while Steve Mandel’s Lone Pine Capital cut its positions by 2.4%. Philippe Laffont’s Coatue Management, a long-time tech bull, reduced its stakes in some of its biggest holdings, including Nvidia Corp., Meta Platforms Inc., Tesla Inc. and Netflix Inc. Tiger Cubs are so-called because their founders are alumni of Julian Robertson’s Tiger Management.

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Tiger Cubs Pared Tech Stakes as Other Asset Managers Dove In