Viking Global Investors, a $US30 billion hedge fund manager, sold off all of its 1.08 million shares of Google’s parent company, Alphabet, during the second quarter, according to regulatory documents filed Monday.
The stake is valued at around $US891.8 million.
The Greenwich, Connecticut-based firm also acquired 1.1 million shares of China’s Alibaba valued at $US155.1 million, bringing its total tech holdings to 46% of its portfolio.
In June, Viking founder and CEO Andrea Halvorsen said the fund would be returning $US8 billion to investors as part of an effort to let its traders hold smaller, more liquid positions. He also announced Daniel Sundheim, Viking’s CIO and 15-year-veteran would leave the firm.
Shares of Alphabet were trading at $US922.02 at midday in New York, up about 0.84% above its opening price.
Get the latest Alibaba stock price here.
Business Insider Emails & Alerts
Site highlights each day to your inbox.