Viking Global Bets $817M on Ferrari, Slashes Tesla Stake and Exits Apple

Key Facts

1Viking Global's Andreas Halvorsen initiated an $817 million position in Ferrari during the second quarter.

2The fund slashed its Tesla stake by 78% and completely exited its position in Apple.

In a move reflecting a strategic rotation away from US tech giants toward luxury automotive manufacturing, Viking Global Investors disclosed significant portfolio changes. According to reports, Andreas Halvorsen initiated an $817 million position in Ferrari during the second quarter. Conversely, the fund slashed its investment in Tesla by 78% and completely exited its position in Apple.

This institutional rebalancing occurs amid shifting sentiment regarding tech valuations. According to market data, AAPL closed at $316.83 and TSLA closed at $351.12 (as of August 19, 2026). For broader context, peer technology stocks MSFT and META closed at $351.12 and $546.03 respectively on the same date, highlighting the scale of the sector where Viking is reducing exposure.

Traders are now watching the performance of RACE, which closed at $425.18 (as of August 19, 2026), to see if the massive institutional backing provides further momentum. With no immediate specific catalysts in the upcoming economic calendar for these instruments, market participants will likely focus on whether other hedge funds follow this rotation from tech into luxury brands.

Sources:

Benzinga