Andreas Halvorsen (Trades, Portfolio), founder of Viking Global Investors, made substantial changes to his long portfolio in the first quarter, recording 31% turnover from the previous quarter, according to GuruFocus calculations of data released Tuesday.
Halvorsen’s $25 billion hedge fund took as their largest new positions Alibaba Group Holding Ltd. (BABA, Financial), United States Steel Corp. (X, Financial), Western Digital Corp. (WDC, Financial), Walt Disney Co. (DIS, Financial) and Biomarin Pharmaceutical Inc. (BMRN, Financial). They acquired 22 new positions in all in the first quarter, concentrating the portfolio across 59 holdings valued around $16.6 billion.
Stocks from the tech sector represent 28.3% of holdings, followed by financial services, which composes 19.2% and health care at 15.5%.
Norwegian-born Halvorsen ranked as the eighth highest-earning fund manager in the world in 2017, with $26 billion in net gains since inception. Prizing research and a long-term focus, Viking Global seizes opportunities based on understanding of business fundamentals, management teams and cyclical and secular industry trends.
Notably, Halvorsen has roughly 15% of his portfolio invested in online media giants Facebook (FB, Financial) and Alphabet (GOOG, Financial).
The new buys
Alibaba Group Holding Ltd. (BABA, Financial)
Halvorsen bought 2,201,963 shares of Alibaba Group Holding, giving it 2.43% portfolio weight. The stock’s first-quarter share price averaged $188.
Alibaba Group Holding Ltd. has a market cap of $502.9 billion; its shares were traded around $196.00 Tuesday with a P/E ratio of 52.84 and P/S ratio of 13.40. Alibaba Group Holding Ltd. had an annual average earnings growth of 88.20% over the past 10 years. GuruFocus rated Alibaba Group Holding Ltd. the business predictability rank of 5-star.
United States Steel Corp. (X, Financial)
Halvorsen bought 9,166,283 shares of United States Steel Corp., giving it 1.94% portfolio weight. The stock’s first-quarter share price averaged $39.
United States Steel Corp. has a market cap of $6.35 billion; its shares were traded around $35.89 with a P/E ratio of 10.85 and P/S ratio of 0.50. The trailing 12-month dividend yield of United States Steel Corp. stocks is 0.56%. The forward dividend yield of United States Steel Corp. stocks is 0.55%.
Western Digital Corp. (WDC, Financial)
Halvorsen bought 3,002,720 shares of Western Digital Corp., giving it 1.67% portfolio weight. The stock’s first-quarter share price averaged $89.
Western Digital Corp. has a market cap of $24.77 billion; its shares were traded around $82.78 with a P/E ratio of 140.30 and P/S ratio of 1.22. The trailing 12-month dividend yield of Western Digital Corp. stocks is 2.42%. The forward dividend yield of Western Digital Corp. stocks is 2.47%. Western Digital Corp. had an annual average earnings growth of 11.60% over the past 10 years.
Walt Disney Co. (DIS, Financial)
Halvorsen purchased 1,442,560 shares of Walt Disney, giving it 0.87% portfolio weight. The stock price averaged $106 for the first quarter.
Walt Disney Co. has a market cap of $152.96 billion; its shares were traded around $102.62 Tuesday with a P/E ratio of 13.65 and P/S ratio of 2.78. The trailing 12-month dividend yield of Walt Disney Co. stocks is 1.58%. The forward dividend yield of Walt Disney Co. stocks is 1.64%. Walt Disney Co had an annual average earnings growth of 11.70% over the past 10 years. GuruFocus rated Walt Disney Co. the business predictability rank of 4.5-star.
Biomarin Pharmaceutical Inc. (BMRN, Financial)
Halvorsen purchased 1,682,466 shares of Biomarin Pharmaceutical Inc., giving it 0.82% portfolio weight. The stock price averaged $86 for the first quarter.
Biomarin Pharmaceutical Inc has a market cap of $15.67 billion; its shares were traded around $88.70 Tuesday with and P/S ratio of 11.26.
For more Andreas Halvorsen (Trades, Portfolio) stocks, visit his portfolio here.
