BOSTON (TheStreet) -- Tiger Global Management's hedge fund shuffled its holdings in online media stocks in the first quarter, including initiating a 4.8% portfolio stake in movie-streaming company Netflix (NFLX - Get Report), which has more than doubled in the past year.Tiger Global also added to holdings of cable network and content provider Viacom ( VIA.B) and Internet retailer Amazon.com ( AMZN - Get Report), and cut back on Liberty Media tracking stock Liberty Capital ( LCAPA) and multimedia firm Cablevision Systems ( CVC). Tiger Global raised its stake in its largest holding, Apple ( AAPL - Get Report), the maker of the iPad and iPhone, by 282,000 shares, bringing its portfolio value to $493 million. That number includes share-price appreciation as well as the additional shares.
Amazon ( AMZN - Get Report) is now the fifth-largest stock in the portfolio, at 6.2%, and is worth $254 million after the fund bought 410,000 shares in the quarter. Amazon is the largest online retailer in the world, led by media sales of books, movies, music and video games, which represent a little over half of its sales. Electronics and general merchandise represent most of the remainder. In the first quarter, Amazon reported a profit of $201 million, or 44 cents per share, down from $299 million, or 66 cents, a year earlier. Analysts had predicted 61 cents per share. Sales increased 38% to $9.9 billion, or 36% excluding a benefit from foreign exchange. In January, the company predicted $9.1 billion and $9.9 billion in revenue. Amazon's shares are up 7% this year and 50% over the past 12 months.