Tiger Global Cuts Losses On Qihoo 360 Position

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New York-based investment firm Tiger Global Management LLC has sold its equity holdings of New York Stock Exchange-listed Chinese security software firm Qihoo 360 Technology Co. Ltd., cutting losses on a stock that has seen its prices drop significantly during the past four months, according to the firm’s disclosure documents.

On August 15, Tiger Global disclosed that it held 960,000 shares of Qihoo 360 with a recorded total value of US$88.36 million. The stock closed at US$99.93 on the news that day.

The position accounted for 1.12% of Tiger Global’s second quarter portfolio holdings.

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