Andreas Halvorsen’s Viking Global took up a new position in Apple Inc. (NASDAQ:AAPL), buying 112,200 shares of the tech company. Like all other tiger cubs who seem fixated on Priceline.com Inc (NASDAQ:PCLN), Viking also bought a brand new, albeit small, position in the company. Coatue Management, Tiger Global and Tiger Consumer all hold positions in PCLN.
Viking buys up medical tech companies, pharmaceuticals
Halvorsen recently said in a investor letter that his firm would be focusing on shorting opportunities in companies that will be affected by the slowdown in China. The Viking’s long portfolio is dominated by pharmaceutical and medical technology companies, the fund moved in and out of several of these.
Halvorsen also bought Gilead Sciences, Inc. (NASDAQ:GILD), Micron Technology, Inc. (NASDAQ:MU), Dollar General Corp. (NYSE:DG), Metlife Inc (NYSE:MET) and Thermo Fisher Scientific Inc. (NYSE:TMO). The largest buy was Thermo Fisher, Viking bought $6.89 million shares of the company.
The largest increase in an existing stake was in Valeant Pharmaceuticals Intl Inc (NYSE:VRX) (TSE:VRX); the fund now holds 9.5 million shares of the company. The fund also increased its position in Valero Energy Corporation (NYSE:VLO) by over 100%, and the Viking Q2 letter discussed the fund’s thesis on the oil refiner.
Viking sells Citigroup, Goldman Sachs, HPQ
Viking Global sold out of Citigroup Inc (NYSE:C) and Goldman Sachs Group Inc (NYSE:GS). Viking closed its position in PC maker Hewlett-Packard Company (NYSE:HPQ) by selling 10.48 million shares. HPQ has been marred by underperformance in the past quarters. The famed shortseller is the big bear of the PC industry and has been shorting HPQ and possibly Dell Inc. (NASDAQ:DELL) as well.
Viking also cut its position in Elan Corporation, plc (ADR) (NYSE:ELN) by more than 50% and reduced its position in Q1’s hot pick of hedge funds, The Boeing Company (NYSE:BA) by 30%.