Published: January 8, 2026
Billionaire Andreas Halvorsen’s Viking Global Investors dramatically increased its position in Chewy (NYSE: CHWY) by 147% in December 2025, adding over 8 million shares to reach 13.5 million shares valued at approximately $437 million. This bold move by a top hedge fund raises questions: Is smart money calling a bottom for Chewy stock amid its recent challenges?
Viking Global’s Aggressive Chewy Investment Details
The transaction stands out:
- Shares Added: 8,052,955
- Average Price: ~$32.27
- New Total Stake: 13,536,645 shares (5.7% of class)
- Portfolio Weight: Modest but significant conviction play
Viking’s action contrasts with broader market caution on consumer discretionary names.
Why Hedge Funds See Value in Chewy Now
Chewy’s core strengths attract long-term investors:
- Dominant online pet retail position
- High subscription revenue (Autoship ~84%)
- Resilient pet spending category
- Expanding services like vet care and advertising
Despite margin pressures, fundamentals remain solid for patient capital.
Chewy Stock Performance Context
Recent trading reflects mixed sentiment:
- Current Price: ~$32.00–$32.16 range
- 52-Week View: Closer to lows than highs
- Challenges: Competition, logistics costs
- Opportunities: Customer growth, margin initiatives
Hedge fund accumulation often precedes sentiment shifts.
What This Means for CHWY Investors in 2026
Viking’s stake increase suggests:
- Limited downside at current valuations
- Belief in operational recovery
- Potential catalyst for broader interest
Execution on growth initiatives will determine trajectory.
Conclusion
Viking Global’s 147% stake increase in Chewy signals strong conviction from billionaire Andreas Halvorsen—potentially marking a turning point for CHWY stock in 2026. While challenges persist, smart money bets highlight undervalued potential in the resilient pet sector. Investors should watch earnings and sentiment for confirmation.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Stock markets are volatile.
