A billionaire who made his fortune at Tiger Global just poured more than $300 million into a high-growth stock that’s skyrocketed over the last year.
Karthik Sarma, who now spearheads SRS Investment Management, sold all of the hedge fund’s massive investment in Nvidia (NVDA) between Q1 of 2024 and Q1 of 2025.
Now, new 13F filings show Sarma has piled about $334 million, purchasing 4.74 million shares, into Tapestry (TPR).
The luxury goods company, known for its premium handbag and accessories brands like Coach and Kate Spade, has seen its stock surge over 100% in the past 12 months.
Tapestry specializes in designing and retailing high-end fashion accessories, leveraging its iconic brands to capture the growing demand for luxury lifestyle products.
The company’s strong cash flows and strategic share-repurchase program may have also caught Sarma’s eye, with SRS Investment Management now allocating about 4.5% of the hedge fund’s portfolio to the new investment.
That makes Tapestry the fourth-largest allocation at SRS, following Pdd Holdings Inc. at 6.45%, Planet Fitness Inc. at 6.09%, and Meta Platforms Inc. at 5.75%, highlighting a strategic focus on e-commerce, fitness, AI and tech, alongside luxury retail.
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