Ole Andreas Halvorsen’s Viking Global hedge fund slashed its holding in Amazon in the second quarter and stepped up bets its in biotech, according to the latest 13F filing with the Securities and Exchange Commission . Halvorsen, who founded Viking in 1999 after working under Julian Robertson at Tiger Management, almost doubled his stake in Biomarin Pharmaceutica l to $360 million by the end of June, and lifted the Day One Biopharmaceuticals position by 64%. The so-called Tiger Cub’s entirely new positions included a $78 million stake in Alibaba , $6.5 million in C3AI and $132 million worth of chipmaker Nvidia . The firm parted with more than 42% of its position in Amazon , the filing showed, bringing the total investment to $573 million. Viking Global also cut investments in the CSX railroad by nearly 42%. The firm fully exited positions in Travelers as well as Jack Dorsey’s Block , as well as the off-price retailer TJX . Viking lowered its position in Facebook-parent company Meta Platforms by nearly 20%. The firm’s stake in the company is now worth $744 million, still one of Viking’s 10 largest positions overall. Elsewhere, Viking purchased $278 million worth of Netflix stock in the second-quarter, and opened a $159 million position in shipping giant UPS . The firm parted with large chunks of its insurance bets. Viking Global trimmed its position in Progressive by 61% to a stake now worth $52 million, and reduced a Chubb Limited holding by 72% Other fresh stakes include DoorDash , Phillip Morris and Tenet Healthcare . The Philip Morris stake alone was valued at $884 million at the end of the latest quarter. Viking further lowered positions in General Electric , UnitedHealth Group and Constellation Energy . The GE and UNH positions still amounted to roughly $800 million each. Viking managed about $24 billion in 13F securities at the end of the second-quarter, according to WhaleWisdom.com .
This story originally appeared on CNBC
