Ole Andreas Halvorsen’s Viking Global hedge fund has made notable adjustments to its investment holdings in the second quarter, as revealed in the latest 13F filing with the Securities and Exchange Commission.

Increased Biotech Bets

Halvorsen, the founder of Viking Global, has doubled his stake in Biomarin Pharmaceuticals, reaching a valuation of $360 million by the end of June. Additionally, the hedge fund has increased its position in Day One Biopharmaceuticals by 64%.

New Positions

Viking Global has entered entirely new positions, including a $78 million investment in Alibaba, $6.5 million in C3AI, and $132 million worth of chipmaker Nvidia.

Reduced Holdings

According to the filing, Viking Global has significantly reduced its stake in Amazon by more than 42%, resulting in a total investment of $573 million. The hedge fund has also cut its investments in the CSX railroad by nearly 42% and completely exited positions in Travelers, Jack Dorsey’s Block, and off-price retailer TJX. Viking Global has also lowered its position in Facebook-parent company Meta Platforms by almost 20% but still retains a stake valued at $744 million.

New Investments

Viking Global has made new investments in the second quarter, including a $278 million purchase of Netflix stock and a $159 million position in shipping giant UPS. The hedge fund has also acquired stakes in DoorDash, Phillip Morris, and Tenet Healthcare. The Philip Morris stake alone was valued at $884 million at the end of the latest quarter.

Portfolio Adjustments

Viking Global has further reduced its positions in General Electric, UnitedHealth Group, and Constellation Energy. However, the remaining GE and UNH positions each amounted to approximately $800 million.

Current Portfolio Value

At the end of the second quarter, Viking Global managed approximately $24 billion in 13F securities, according to WhaleWisdom.com.