In the world of finance, it’s intriguing to see investment moves, and Andreas Halvorsen of Viking Global certainly made a bold one. According to recent regulatory documents, the Norwegian-American billionaire significantly increased his stake in JPMorgan Chase, the largest bank in the United States. In the final quarter of last year, his hedge fund acquired over 3.769 million additional shares of JPMorgan Chase, effectively doubling his investment. This strategic move brought Viking Global’s total holdings to a hefty 7.4 million shares, translating to more than $1.7 billion, as revealed by the latest 13F filing with the SEC. This is a substantial jump from the nearly 3.7 million shares held in the third quarter of 2024, then valued at over $779 million. It’s clear why JPMorgan Chase became the fund’s top asset by the end of the year.
JPMorgan Chase has been making waves with its impressive performance. In January, they announced fourth-quarter earnings that surpassed Wall Street’s predictions, along with a promising net interest income outlook for 2025. The bank’s stock has outshined the broader market, climbing almost 13% over the last three months and a remarkable 54% over the past year. In comparison, the S&P 500 gained nearly 4% and more than 22% in those same timeframes.
Viking Global wasn’t just eyeing JPMorgan; they also ventured into the aviation sector by acquiring new stakes in Boeing and American Airlines. Their investment in Boeing is valued at over $526 million, amounting to more than 2.9 million shares. Meanwhile, they purchased over 13.5 million shares of American Airlines, worth $236 million. Boeing had a tough year, notably marked by the Boeing 737 Max 9 incident where a door plug blew out during an Alaska Airlines flight and production stoppages due to a seven-week machinist strike. Looking toward 2025, the aviation industry could still face headwinds. American Airlines has already projected weaker earnings for the upcoming quarter. Boeing’s shares have seen an 8% rise in the past month, despite a decline of over 9% over the year. Conversely, American Airlines shares fell more than 12% in the last month but increased 9% over the year.
Additionally, Viking Global expanded into the semiconductor market with new positions in Taiwan Semiconductor and Qualcomm. Both stocks have delivered notable performances, with Taiwan Semiconductor up about 61% and Qualcomm nearly 13% over the past year.
