"Eleven months into 2025, $55 billion hedge fund Viking Global sits in an underwhelming position. The long-running Tiger Cub - a nickname for the group of firms connected to the late Julian Robertson's Tiger Management - is up just 5.8% through November in its flagship stock-picking hedge fund after a 0.5% gain last month, a person close to the manager told Business Insider."
"This trails the returns of the overall S&P 500, which was up more than 16% through the same stretch, as well as many of the firm's main rivals. Fellow Tiger Cubs Coatue, Maverick, and D1 have all outperformed Andreas Halvorsen's Viking Global through the same stretch. Coatue is up more than 13% through November, a person familiar with the firm told Business Insider. Lee Ainslie's Maverick was up over 23% through November 21, according to HSBC's Hedge Weekly report."
"For Viking, this run of performance coincides with the firm's first calendar year without Ning Jin, the former chief investment officer of the manager. Jin was with Viking for 17 years and was the sole CIO of the firm in 2019 before departing in August of last year. He launched his own firm, Avantyr Capital, earlier this quarter with $1.5 billion."
"Viking has become somewhat of an incubator for the industry's next generation, as several former executives for the firm have gone on to start their own funds, with Sundheim being the biggest of the Viking spin-offs. The firm's current CIO is Justin Walsh, who first joined Viking as an intern"
Through November 2025, Viking Global's $55 billion flagship returned 5.8%, lagging the S&P 500's more than 16% gain and several Tiger Cub rivals. Coatue, Maverick, and D1 posted stronger results, with Coatue up over 13%, Maverick over 23%, and D1 28% in public equities through November. The performance stretch coincides with the firm's first calendar year without long-time CIO Ning Jin, who left after 17 years and launched Avantyr Capital with $1.5 billion. Viking has spawned multiple spin-offs, and the firm's current CIO is Justin Walsh, who began at Viking as an intern.
Read at Business Insider
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