NEW YORK : Several investment managers whose performance was pummeled when technology stocks skidded lower last year put fresh money into the handful of companies that are pulling the stock market higher this year, new regulatory filings show.
Tiger Global Management increased its holding of Nvidia, whose semiconductors back artificial-intelligence systems and whose market value topped $1 trillion in June, by 1,332 per cent, the filing showed. 2023 has been a better year for investors, with the S&P 500 stock market index up 16 per cent in the first half after a 20 per cent drop in full-year 2022. But only a small number of companies - the so-called magnificent seven - fueled the rally.
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