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Tybourne Completely Revamped Its Portfolio in the First Quarter

The Tiger Grandcub sharply reduced its bets on e-commerce.

Tybourne Capital Management aggressively shook up its portfolio in the first quarter.Four of the Hong Kong-based Tiger Grandcub’s 10 largest U.S.-listed longs were newly established in the March quarter, including Microsoft, which is now its largest long, according to the firm’s first-quarter 13F report filed late last week.The hedge fund

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