Key Points
- Viking Global Investors, led by Ole Andreas Halvorsen, has filed its Form 13F, revealing significant portfolio changes for the third quarter of 2023.
- Halvorsen completely sold off 3,897,092 shares of Amazon and 3,681,935 shares of Nvidia, previously valued as the eighth and 26th largest holdings, respectively.
- In contrast, he acquired 2,429,412 shares of Microsoft, worth approximately $1.26 billion, making it the fund’s fifth-largest holding.
Viking Global Investors, which manages around $39 billion in assets, disclosed its third-quarter trading activities in mid-November. Alongside exiting positions in Amazon and Nvidia, Halvorsen introduced 15 new positions, prominently featuring Microsoft, driving interest as the company’s cloud and AI sectors show high growth potential.
The decision to divest from Amazon and Nvidia may be rooted in profit-taking or concerns over their high valuations, particularly given Nvidia’s price-to-sales ratio briefly surpassed 30, signaling potential bubble risks. In contrast, Microsoft’s strong net cash generation, totaling $102 billion, positions it favorably for future investments and growth.
