A former Tiger Global billionaire, Karthik Sarma, made a big investment shift. He completely sold off his hedge fund’s Nvidia stock and poured a whopping $334 million into Tapestry (TPR).
From Tech to Luxury
Sarma, now running SRS Investment Management, unloaded all of his Nvidia holdings between the first quarters of 2024 and 2025. This move is quite significant, given Nvidia’s previous market performance. Instead, he bought 4.74 million Tapestry shares.
Tapestry’s Appeal
Tapestry, the parent company of Coach and Kate Spade, has seen its stock price jump over 100% in the past year. Its strong performance, solid cash flow, and share buyback program likely attracted Sarma’s attention.
A Significant Portfolio Shift
The Tapestry investment now makes up about 4.5% of SRS Investment Management’s portfolio. This places Tapestry as the fourth-largest holding, behind PDD Holdings, Planet Fitness, and Meta. This portfolio mix shows a diverse strategy across e-commerce, fitness, tech, and now, luxury retail.