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Andreas Halvorsen’s Viking Global bought into several well-known technology stocks in the second quarter, according to the latest regulatory filing. The hedge fund added more than 34% and 43% to megacap tech stocks Amazon and Microsoft , respectively. With those moves, they became the first and fourth largest holdings in the portfolio, according to InsiderScore. Halvorsen also added more than 18% to the fund’s stake in Apple , and built a new position in Netflix worth $630 million. The Tiger Management alumnus increased his holding in Adobe by more than 300%, making the stock his second biggest stake with a value above $1.2 billion. He also opened new positions in DoorDash and Broadcom worth more than $600 million and $470 million, respectively. Other technology positions fared worse. Viking Global zeroed out positions in Advanced Micro Devices and Take-Two Intractive , while a stake in Workday fell by more than 25%. These moves came amid a strong quarter for tech stocks. But the group has stalled since mid-June as some investors have questioned when the billiosn invested in artificial intelligence applications will start to pay off in higher profits. The tech-heavy Nasdaq Composite gained more than 8% in the second quarter, outperforming the Dow Jones Industrial Average and S & P 500 . But the index is the worst performer of the three major averages in the third quarter with a loss of slightly over 3%. Outside of tech, the former Royal Norwegian Navy officer opened new positions in JPMorgan and McDonald’s in the second quarter, and slashed his UnitedHealth stake by more than 67%.
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