Ole Andreas Halvorsen’s Viking Global hedge fund slashed its holding in Amazon in the second quarter and stepped up bets in biotech, according to the latest 13F filing with the U.S. Securities and Exchange Commission . Halvorsen, who founded Viking Global 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 64%. The so-called Tiger Cub’s entirely new positions included a $78 million stake in Alibaba , $6.5 million in C3.ai 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 nearly 42%. The firm fully exited positions in Travelers , Jack Dorsey’s Block and the off-price retailer TJX . Viking Global lowered its position in Facebook parent company Meta Platforms 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 Global 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 61% to a stake now worth $52 million and reduced a Chubb Limited holding 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 Global further lowered positions in General Electric , UnitedHealth Group and Constellation Energy . The GE and UNH positions still amounted to roughly $800 million each. Viking Global managed about $24 billion in 13F securities at the end of the second quarter, according to WhaleWisdom.com .
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