Viking Global, led by Ole Andreas Halvorsen, appears to have redeployed funds within MegaCap Technologies in the first quarter. Viking Global zeroed out its position in about 3.3 million shares of Alphabet in the first three months of 2024, according to regulatory filings. The amount amounted to more than $450 million. Halvorsen also hacked approximately 75% of Metaplatform’s positions. This reduced the stock from more than 2 million shares worth more than $1 billion to less than 750,000 shares, totaling just about $355 million. Facebook’s parent company held the fifth position in Viking Global at the end of 2023. But his protégé Julian Robertson has put his money elsewhere in the Big Tech space. He built his position in Apple with his 3.8 million shares, or his more than $660 million. The stock’s performance has been attracting attention recently due to the company’s poor performance in the first quarter. Mr. Halvorsen, who founded Viking in 1999, also took his stock public to Microsoft. This amounts to approximately 1.6 million shares, with a total value of more than $670 million. The Tiger Management alum also increased his holdings in Amazon by 40%. With this increase, Viking Global now owns more than 1.9 million shares, or more than $1.2 billion. The e-commerce giant has emerged as the company’s third-largest holding. His move comes during a quarter that was intensely focused on major technology companies. After a strong performance in 2023, traders credited the Magnificent Seven for driving the rally, and some wondered whether the market had risen too quickly. Outside of technology, Viking Global began holdings in Clorox, Dollar Tree, Skechers, and Las Vegas Sands during the same period. Halvorsen also more than doubled his US Bancorp stock, making it the sixth-largest company, according to InsiderScore. This position was originally created last quarter. Meanwhile, Halvorsen cleared out positions such as striker, Metlife and Deer.
