Viking Bails On Apple, Tesla And Trims Nvidia: Is This A Big Tech Rethink?

Hedge fund Viking Global Investors, led by Andreas Halvorsen, made some bold moves in the fourth quarter of 2024, dumping its entire stakes in Apple Inc AAPL and Tesla Inc TSLA.

The firm offloaded nearly 4.86 million Apple shares and over 436,000 Tesla shares, exiting both positions completely.

Apple had previously accounted for 4.13% of Viking's portfolio, while Tesla had a smaller 0.42% allocation.

Nvidia No Longer The Market Darling?

Nvidia Corp NVDA wasn't spared either, though Viking didn’t completely cut ties. The firm trimmed its Nvidia holdings by 10.3%, reducing its position by about 233,000 shares.

Despite Nvidia's continued AI-fueled momentum, Viking's shift suggests a more cautious stance toward the stock's valuation after its meteoric rise in 2024.

Big Tech Out, Financials In?

Viking's latest 13F filing reveals a shift in sector focus. The firm pared back its exposure to the Information Technology sector, cutting it from 19.06% in Q3 to 17.96% in Q4.

Consumer Discretionary saw a similar pullback, dropping from 11.68% to 10.79%.

Meanwhile, Financials surged from 25.58% to 28.45%, signaling a possible pivot toward more defensive or interest rate-sensitive plays.

Is This A Market Signal?

The question now is whether Viking's tech retreat signals broader hesitation toward Big Tech in 2025. With Apple and Tesla out and Nvidia scaled back, Viking appears to be cooling on the sector that led the market's charge last year.

While this could be a risk-management move, it's worth watching whether other hedge funds follow suit.

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