Massive hedge fund Viking Global made huge bets on insurance coverage shares all the way through a unstable moment quarter for Wall Street, in keeping with securities filings. Viking’s second-quarter regulatory submitting, launched on Monday, presentations that the fund initiated a stake of greater than $500 million in AIG . Viking additionally scooped up greater than 1.3 million stocks of Elevance Health , bringing its stake within the corporate previously referred to as Anthem to greater than $700 million. Additionally, Viking added to positions in Chubb and Centene, that have been each amongst its most sensible 10 holdings on the finish of June. The fund run by way of Andreas Halvorsen had kind of $47 billion in property beneath control on the finish of December, in keeping with its site. The fund’s fairness publicity proven in Monday’s record totaled just about $22 billion. In addition to AIG, Viking published new stakes in McKesson , Lam Research , Disney and Intuit . The fund additionally greater than doubled its place in Facebook-parent Meta to a stake price $462 million on the finish of June. Viking trimmed a few of its most sensible holdings, together with slicing just about a 3rd of its most sensible conserving T-Mobile and greater than 10% of its stake in Microsoft . Viking closed out a number of main positions, as neatly. The biggest used to be Comcast , which used to be price kind of $660 million on the finish of the primary quarter. Deere , Match and Shopify had been a number of the different nine-figure positions that had been eradicated. Disclosure: Comcast is the mum or dad corporate of NBCUniversal, which contains CNBC.
Source Link: https://www.cnbc.com/2022/08/15/viking-global-bets-on-insurance-stocks-including-big-stake-in-aig.html