Hedge fund Viking buys Boeing shares, adds more JPMorgan, filing shows

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By Carolina Mandl

BANGALORE/NEW YORK (Reuters) -U.S.-based hedge fund Viking Global built a $526 million-worth new position in planemaker Boeing in the fourth quarter, with 2.9 million shares, and roughly doubled bets on JPMorgan Chase, a regulatory filing showed on Friday.

Shares in Boeing are up 3.92% year to date, but are still worth 30% less than its peak in December 2023. The plane maker has been trying to revive production that was dented last year by a strike, and an accident that raised concerns about the safety of its jets.

In January, Boeing’s shares rallied after the company said it was making progress to stabilize production, despite a $11.8 billion loss.

Some other investors also placed bets that Boeing’s share price will rise. Soros Fund Management, the family office of billionaire George Soros, increased its stake in the plane maker, while macro hedge fund Discovery Capital Management unveiled a new stake.

The $45.3 billion equities long/short hedge fund showed a new stake in carmaker General Motors, with 2.6 million shares worth $137.4 million.

FINANCIALS

Andreas Halvorsen’s hedge fund reinforced bets on financials, increasing stakes in JPMorgan Chase, Bank of America and Charles Schwab.

JPMorgan’s was Viking’s biggest stake in dollar amount at the end of December, worth $1.8 billion, the filing showed. The fund roughly doubled its stake to 7.5 million shares.

It also had over $1 billion in positions in Bank of America and Schwab.

The fund’s positions were revealed in quarterly securities filings known as 13Fs. While backward-looking, these snapshots show what funds owned on the last day of the quarter and are one of the few ways hedge funds and other institutional investors have to declare their positions. The filings do not indicate exact timing of purchases or sales and may not reflect current holdings.

(Reporting by Carolina Mandl in New York)