Billionaire Andreas Halvorsen founded $26 billion hedge fund Viking Global in 1999 and has become one of the most successful “Tiger Cubs” to have moved on from Julian Robertson’s Tiger Management ever since. That success has lead to his personal fortune growing to $3.7 billion, which ranks him 556th on Forbes’ list of the world’s wealthiest people.
After a disappointing 4% loss in 2016, Viking Global rebounded with 12% returns net of fees last year, which was impressive given that it was a period of transition for the fund, as CIO Daniel Sundheim left the firm to start his own hedge fund. Given that Sundheim, described by Halvorsen as being “in a league of his own as a stock picker and portfolio manager”, oversaw a large chunk of the fund’s portfolio, Viking Global returned about $6 billion to investors, though the fund’s 13F portfolio has not shown any indication of it.
The value of that portfolio rose for the fifth-straight quarter during Q3, to $18.06 billion, with the fund adding 19 holdings to it during the quarter while subtracting 15 from it. Viking’s sector allocations haven’t changed much over the past few quarters, with the fund showing a little more bullishness towards healthcare stocks (21.08% weighting) and energy stocks (12.69%) while trimming its exposure to finance stocks (6.84%).
We’ve uncovered a reliable way to consistently beat the market by using these 13F filings and investing in only the top consensus picks of the 100 best performing hedge funds each quarter. Insider Monkey’s flagship “Best Performing Hedge Funds Strategy” has returned 78.4% since its 2014 inception (through December 3), beating the market by over 18 percentage points. Check out a detailed analysis of Insider Monkey’s performance and past quarterly stock picks for all the details. Our newest picks were released last month; don’t miss out!
On the next page we’ll look at four stocks that Viking Global was buying a lot of shares of during Q3, and one stock that it sold off.