Massive hedge fund Viking Global made large bets on insurance stocks during a volatile second quarter for Wall Street, according to securities filings. Viking’s second-quarter regulatory filing, released on Monday, shows that the fund initiated a stake of more than $500 million in AIG . Viking also scooped up more than 1.3 million shares of Elevance Health , bringing its stake in the company formerly known as Anthem to more than $700 million. Additionally, Viking added to positions in Chubb and Centene, which were both among its top 10 holdings at the end of June. The fund run by Andreas Halvorsen had roughly $47 billion in assets under management at the end of December, according to its website. The fund’s equity exposure shown in Monday’s report totaled nearly $22 billion. In addition to AIG, Viking revealed new stakes in McKesson , Lam Research , Disney and Intuit . The fund also more than doubled its position in Facebook-parent Meta to a stake worth $462 million at the end of June. Viking trimmed some of its top holdings, including cutting nearly a third of its top holding T-Mobile and more than 10% of its stake in Microsoft . Viking closed out several major positions, as well. The largest was Comcast , which was worth roughly $660 million at the end of the first quarter. Deere , Match and Shopify were among the other nine-figure positions that were eliminated. Disclosure: Comcast is the parent company of NBCUniversal, which includes CNBC.
