Tracking Ole Andreas Halvorsen’s Viking International Portfolio– Q1 2023 Update

This post becomes part of a series that offers a continuous analysis of the modifications made to Ole Andreas Halvorsen’s 13F stock portfolio on a quarterly basis. It is based upon Viking Global’s regulative 13F Type submitted on 5/15/2023. Please visit our Tracking Ole Andreas Halvorsen’s Viking International Portfolio series to get a concept of his financial investment approach and our previous upgrade for the fund’s relocations throughout Q4 2022.

This quarter, Halvorsen’s 13F stock portfolio worth increased from $19.98 B to $21.31 B. The variety of holdings reduced from 53 to 49. The biggest 5 private stock positions are Visa, McKesson, UnitedHealth, Elevance Health, and General Electric. They amount to|26% of the portfolio.

Ole Andreas Halvorsen is among the most effective “tiger cubs” (protégés of Julian Robertson & & his famous Tiger Fund). To understand more about “tiger cubs”, have a look at the book Julian Robertson: A Tiger in the Land of Bulls and Bears.

New Stakes:

Lululemon Athletica ( LULU) and Sherwin-Williams ( SHW): LULU is a 3.24% of the portfolio position acquired this quarter at rates in between|$293 and|$364 and the stock presently trades simply above that variety at|$368. The 2.38% SHW stake was developed at rates in between|$209 and|$249 and it is now at|$245.

Emerson Electric ( EMR), Zoominfo Technologies ( ZI), Constellation Energy ( CEG), Workday Inc. ( WDAY), and Coupang ( CPNG): These little (less than|1% of the portfolio each) stakes were developed throughout the quarter.

Stake Disposals:

American International Group ( AIG), Advanced Micro Gadget ( AMD), Brookfield Corp ( BN), Clorox Business ( CLX), Dollar General ( DG), Insulet Corp ( PODD), International Flavors & & Fragrances ( IFF), KE Holdings ( BEKE), Li Vehicle ( LI), RH ( RH), and Uber Technologies ( UBER): These little (less than|1% of the portfolio each) stakes were dropped throughout the quarter.

Stake Boosts:

Visa Inc. ( V): Visa is presently the biggest 13F position at|7% of the portfolio. It was mainly integrated in Q4 2020 at rates in between|$181 and|$219. There was|45% decrease over the next 2 quarters at rates in between|$193 and|$237. H2 2021 saw a stake doubling at rates in between|$190 and|$251 while in the next quarter there was a one-third selling at rates in between|$191 and|$235. Q3 2022 saw another stake doubling at rates in between|$178 and|$217. That was followed with|23% boost in the last 2 quarters at rates in between|$178 and|$231. The stock presently trades at|$226.

McKesson Corp ( MCK): MCK is a big (leading 3) 5.36% of the portfolio position acquired throughout Q2 2022 at rates in between|$300 and|$336 and the stock presently trades well above that variety at|$395. There was|60% stake boost next quarter at rates in between|$321 and|$374. That was followed with|45% boost this quarter at rates in between|$335 and|$386.

UnitedHealth ( UNH): The big (leading 3) 4.66% UNH stake was integrated in the last 3 quarters at rates in between|$460 and|$555. The stock presently trades at|$493.

Elevance Health ( ELV): The big (leading 5) 4.65% ELV stake was constructed throughout Q2 2022 at rates in between|$444 and|$530. There was|60% stake boost next quarter at rates in between|$446 and|$507. Last quarter saw|20% decrease at rates while this quarter there was a comparable boost. The stock is now at|$473.

General Electric ( GE): The big (leading 5) 3.86% of the portfolio GE stake was acquired over the 5 quarters through Q4 2021 at rates in between|$44 and|$115. There was|50% selling over the next 2 quarters at rates in between|$64 and|$103. Q3 2022 saw a comparable boost at rates in between|$61 and|$81 while last quarter saw|40% selling at rates in between|$48 and|$69. The stock is now at|$106. There was|11% boost this quarter.

CSX Corp ( CSX) and Fortinet Inc. ( FTNT): CSX is|3% of the portfolio position acquired last quarter at rates in between|$26.50 and|$32.75 and the stock presently trades at $32.40. There was|42% stake boost this quarter at rates in between|$28 and|$33. The 3.70% FTNT stake was developed last quarter at rates in between|$46 and|$57 and it is now well above that variety at $69.84. This quarter saw a two-thirds boost at rates in between|$48 and|$67.

APi Group ( APG): Viking Global was an early financier in J2 Acquisition, a SPAC which obtained APi Group in October 2019. APi Group began trading at $10.40 and now opts for $25.15. There was a minimal boost this quarter.

Note: Viking Global has|17% ownership stake in business.

Meta Platforms ( META) formerly Facebook: META is a 3.21% of the portfolio position developed over the 2 quarters through Q1 2021 at rates in between|$246 and|$295. The next 2 quarters saw|27% selling at rates in between|$295 and|$382. There was another one-third selling in Q1 2022 at rates in between|$187 and|$339. The next 2 quarters saw the stake rebuilt at rates in between|$134 and|$234 while in the last quarter there was|55% decrease at rates in between|$89 and|$140. This quarter saw|35% boost at rates in between|$125 and|$212. The stock is now at|$271.

Thermo Fisher Scientific ( TMO): The 2.32% TMO position saw|40% stake boost last quarter at rates in between|$485 and|$571. The stock is now at|$524. There was a small|2% boost this quarter.

Royalty Pharma ( RPRX): The|2% RPRX stake was integrated in Q4 2021 at rates in between|$35 and|$43. The stock presently trades listed below that variety at $32.81. There was|8% cutting last quarter while this quarter saw a comparable boost.

Ginkgo Bioworks ( DNA): Shares of Ginkgo Bioworks began trading last September after the close of their De-SPAC deal with Skyrocketing Eagle Acquisition. Viking International began purchasing Gingko Bioworks in 2015 when business raised|$45M in a Series B financing round. The assessment at the time was|$200M. The position was offered down by|85% in Q1 2022 at rates in between|$2.80 and|$8.70. Q2 2022 saw even more offering. The position was reconstructed next quarter at rates in between|$2.40 and|$3.75. Last quarter saw|40% selling at rates in between $1.58 and $3.52. There was|125% stake boost this quarter at rates in between $1.20 and $2.20. The stock now trades at $1.95.

Acadia Health Care ( ACAD), Cadence Style Systems ( CDNS), Fortive Corp ( FTV), Guardant Health ( GH), Intuit ( INTU), Karuna Rehabs ( KRTX), Molina Health Care ( MOH), Progressive Corp ( PGR), Rogers Communications ( RCI), Unum Group ( UNUM), and Valvoline ( VVV): These little (less than|2% of the portfolio each) positions were increased throughout the quarter.

Stake Reduces:

Amazon.com Inc. ( AMZN): AMZN is now a 3.70% of the portfolio position. It was developed in Q2 2015 at rates in between|$19 and|$22 and increased by approximately one-third the list below quarter at rates in between|$22 and|$27. The position has actually fluctuated. Current activity follows: The 4 quarters through Q1 2021 had actually seen|80% selling at rates in between|$95 and|$177. The stake was reconstructed the next quarter at rates in between|$155 and|$175 however was once again offered down in Q3 2021 at rates in between|$159 and|$187. The pattern continued over the next 2 quarters: the stake more than doubled at rates in between|$136 and|$185. That was followed with another|55% stake boost over the last 2 quarters at rates in between|$82 and|$145. This quarter saw|40% selling at rates in between|$83 and|$113. The stock presently trades at|$127.

Chubb Ltd. ( CB): CB is|3% position that saw|20% stake boost in Q4 2021 at rates in between|$174 and|$196. It is now at|$191. There was|13% cutting next quarter while Q2 2022 saw a comparable boost. The last 3 quarters likewise saw small cutting.

HDFC Bank ( HDB): HDB is a 2.59% of the portfolio position constructed over the 3 quarters through Q2 2022 at rates in between|$51 and|$78 and the stock is now at $63.94. Next quarter saw a small|6% stake boost while last quarter there was|12% decrease. There was a small|3% cutting this quarter.

Seagate Innovation ( STX): STX is a 1.63% of the portfolio position acquired last quarter at rates in between|$48.50 and|$58 and it now opts for $63.41. There was|11% cutting this quarter.

Microsoft Corporation ( MSFT): MSFT is now at 1.42% of the portfolio. It was developed in Q2 2016 at rates in between $48.50 and $56.50 and increased by|140% in the list below quarter at rates in between $51 and $58.50. Current activity follows. 2021 saw the position offered down by|75% at rates in between|$212 and|$343. There was|18% stake boost throughout Q3 2022 at rates in between|$225 and|$294. This quarter saw|70% decrease at rates in between|$222 and|$288. The stock is now at|$332.

Mastercard ( MA): The 1.36% MA stake saw|30% boost throughout Q2 2022 at rates in between|$309 and|$379. Next quarter saw|23% decrease at rates in between|$284 and|$360. There was|53% decrease this quarter at rates in between|$345 and|$382. The stock presently trades at|$375.

BioMarin Pharma ( BMRN): The|1% BMRN stake was constructed throughout the 3 quarters through Q2 2022 at rates in between|$74 and|$92. This quarter saw|60% selling at rates in between|$88 and|$117. The stock presently trades at|$93.

Amylyx Pharma ( AMLX), Ameriprise Financial ( AMP), Block Inc. ( SQ), Boston Scientific ( BSX), Charles River ( CRL), Equitable Holdings ( EQH), Inspire Medical Systems ( INSP), and Micron Innovation ( MU): These little (less than|1% of the portfolio each) stakes were decreased throughout the quarter.

Note: Viking Global has|7% ownership stake in Amylyx Pharma.

Kept Steady:

Roivant Sciences ( ROIV): ROIV concerned market last September through a SPAC merger with Montes Archimedes. The stock presently opts for $9.42. Viking Global’s|3% of the portfolio stake returns to a personal financial investment made in July 2016.

Note: Viking International controls|13% of Roivant Sciences.

BridgeBio Pharma ( BBIO): BBIO has|2% stake. It had an IPO in Q1 2019. Viking Global’s position returns to earlier financing rounds prior to the IPO. The stock began trading at|$27 per share and presently opts for $15.81.

Note: Viking International controls|21% of BridgeBio Pharma.

Adaptive Biotechnologies ( ADPT): ADPT position is now at 1.24% of the portfolio. It happened as an outcome of Adaptive’s IPO in June 2019. Viking Global was a bulk financier in Adaptive. Shares began trading at|$48 and presently opt for $7.94. Q1 2020 saw|13% cutting at|$25 per share. There was another|10% cutting in Q4 2020 at|$50 typical cost.

Note: Viking International still manages|21% of Adaptive Biotechnologies.

Inhibrx ( INBX): The extremely little 0.59% of the portfolio INBX stake was kept steady this quarter.

Note: Viking Global has substantial ownership stakes in the following companies: 4D Molecular ( FDMT), Cazoo ( CZOO), Edgewise Rehabs ( EWTX), PepGen ( PEPG), Pharvaris NV ( PHVS), Rallybio Corp ( RLYB), Talaris Rehabs ( TALS), Trevi Rehabs ( TRVI), and Verastem ( VSTM).

The spreadsheet listed below highlights modifications to Halvorsen’s 13F stock holdings in Q1 2023:

Editor’s Note: This post covers several microcap stocks. Please know the threats related to these stocks.