Viking Global Shifts Gears: Andreas Halvorsen Makes $817 Million Bet on Ferrari, Slashes Tesla Stake by 78% in Q2
Tesla Motors, Inc. TSLA | 0.00 | |
Apple Inc. AAPL | 0.00 | |
Alphabet Inc. Class A GOOGL | 0.00 | |
Microsoft Corporation MSFT | 0.00 | |
Walt Disney Company DIS | 0.00 |
Hedge fund giant Viking Global Investors, managed by billionaire Andreas Halvorsen, reallocated its equity portfolio in the second quarter. In a clear strategic move, the firm shifted gears in the automotive space by executing a massive $817 million bet on Ferrari NV (NYSE:RACE) while slashing its Tesla Inc. (NASDAQ:TSLA) stake by 78% as part of a wider portfolio realignment.
Driving Out of Tesla, Accelerating Into Ferrari
According to Viking’s latest second-quarter 13F regulatory filing, the Stamford, Connecticut-based firm initiated a brand-new position in luxury automaker Ferrari, picking up 2.2 million shares worth $816.9 million.
The luxury carmaker instantly became one of Halvorsen’s top equity holdings as of June 30. At the same time, Viking sharply scaled back its commitment to EV giant Tesla. The fund dumped over 1.94 million shares, cutting its position by 78% down to 547,816 shares valued at $230.4 million. In the first quarter, Viking had held nearly 2.5 million Tesla shares valued at $927 million.
Concurrently, Viking leaned heavily into automotive retail, expanding its Carvana Co. (NYSE:CVNA) stake by 343% to 12.3 million shares valued at $811 million.
Broad Tech Retreat and Major Unreported Portfolio Moves
The steep Tesla reduction coincided with a significant exit from mega-cap technology staples and major industry sector swaps. Viking completely liquidated its $911.8 million stake in Apple Inc. (NASDAQ:AAPL) by dumping all 3.59 million shares.
It also fully dissolved its holdings in Alphabet Inc. (NASDAQ:GOOGL) and AI infrastructure provider CoreWeave Inc. (NASDAQ:CRWV), while trimming Microsoft Corp. (NASDAQ:MSFT) by 37%.
Overall Portfolio Summary
Viking Global’s total reported 13F portfolio value adjusted slightly from $35.75 billion in the first quarter to $35.08 billion at the end of the second quarter, even as its total number of holdings expanded from 77 to 90 stocks.
| Company Name | Q1 Shares | Q2 Shares | Share Change (%) | Q1 Value ($000) | Q2 Value ($000) |
| Apple Inc. | 3,593,057 | 0 | -100% | $911,881 | $0 |
| Ferrari N.V. | 0 | 2,204,309 | NEW | $0 | $816,922 |
| Tesla | 2,493,561 | 547,816 | -78% | $926,981 | $230,411 |
| CSX Corp. (NASDAQ:CSX) | 18,678,051 | 0 | -100% | $766,734 | $0 |
| MSCI Inc. (NYSE:MSCI) | 0 | 1,160,687 | NEW | $0 | $650,031 |
| PNC Financial Services Group Inc. (NYSE:PNC) | 3,027,092 | 0 | -100% | $629,907 | $0 |
| Union Pacific Corp. (NYSE:UNP) | 0 | 2,047,332 | NEW | $0 | $556,874 |
| Carvana Co. | 2,780,035 | 12,322,311 | 3.43 | $873,987 | $811,054 |
| Walt Disney Co. (NYSE:DIS) | 13,298,462 | 7,158,406 | -46% | $1,281,705 | $688,996 |
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Ken Wolter on Shutterstock.com