In the fourth quarter, U.S.-based hedge fund Viking Global established a new position in Boeing valued at $526 million, comprising 2.9 million shares, and significantly increased its investments in JPMorgan Chase, as per a regulatory filing on Friday.
Boeing's stock has risen by 3.92% year-to-date but remains 30% below its peak in December 2023 due to production challenges resulting from a strike and safety concerns. Boeing recently reported progress in stabilizing production, following an $11.8 billion loss, leading to a positive market response.
Other investors, like Soros Fund Management and Discovery Capital Management, are bullish on Boeing's future, increasing their stakes in the company. Viking Global also initiated a position in General Motors, holding 2.6 million shares valued at $137.4 million.
Andreas Halvorsen's hedge fund reinforced its investments in financials, boosting its holdings in JPMorgan Chase, Bank of America, and Charles Schwab. JPMorgan Chase constituted Viking's largest holding by value at $1.8 billion by the end of December, with a stake of 7.5 million shares. The fund also held over $1 billion in positions in Bank of America and Schwab.
These disclosed holdings come from 13F filings, providing insight into fund positions at the end of each quarter. While informative, these snapshots do not detail purchase timing and may not reflect current positions.