The hedge fund is hoping to make 2017 a better year than last.
Viking Global Investors, a $30 billion hedge fund manager, sold off all of its 1.08 million shares of Google’s parent company, Alphabet, during the second quarter, according to regulatory documents filed Monday.
The stake is valued at around $891.8 million.
The Greenwich, Connecticut-based firm also acquired 1.1 million shares of China’s Alibaba valued at $155.1 million, bringing its total tech holdings to 46% of its portfolio.
In June, Viking founder and CEO Andrea Halvorsen said the fund would be returning $8 billion to investors as part of an effort to let its traders hold smaller, more liquid positions. He also announced Daniel Sundheim, Viking’s CIO and 15-year-veteran would leave the firm.
Viking is hoping to return to prominence after a rocky 2016, which left its main fund down 4%. This year the fund is up over 9% through July, according to Bloomberg.
Shares of Alphabet were trading at $922.02 at midday in New York, up about 0.84% above its opening price.
SOURCE - PULSE.NG posted by Campus94
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