In their Q2 letter to investors, hedge funds Viking Global Equities (VGE) and Viking Long Fund (VLF) reviewed their top positions and their best- and worst-performing stocks. Overall, the funds modestly beat the returns of both the S&P 500 and the MSCI World Index in Q2.

The Numbers

Both of the Viking funds gained 0.8 percent in Q2, while the S&P 500 added 0.3 percent and the MSCI World fell 0.7 percent.

As of the July 16 date of the letter, the VGE fund was up 5.6 percent year-to-date and the VLF fund was up 7.3 percent, while the MSCI World was up 4.1 percent and the S&P 500 was up only 1.2 percent.

On a long/short basis, VGE’s longs gained 1.7 percent during Q2, while its shorts declined by 0.1 percent.

Biggest Gainers

VGE’s best performing position in the quarter was…

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