Intel Corporation (INTC), Foster Wheeler AG (FWLT), Baker Hughes Incorporated (BHI): Billionaire Kerr Neilson’s Top Picks

Based in Australia, Platinum Asset Management was founded by Kerr Neilson in 1994, having worked for Bankers Trust Australia (now BT Australia) prior to that. Platinum Asset currently manages more than A$23 billion worth of assets. The fund’s current equity portfolio has a market value of approximately $5.75 billion as reported in its latest 13F filing. Technology stocks account for approximately 48% of the portfolio, followed by materials with 15% and industrial stocks – 12%. Kerr Neilson employs a value-oriented approach to identify investment opportunities and prefers to invest long term. Forbes estimates Kerr Neilson to be worth approximately $2.9 billion. His top stock positions have suffered significant changes during the second quarter of 2014 and this article will focus on the top 3 current investments.

Kerr Neilson

Intel Corporation (NASDAQ:INTC) is Kerr Neilson’s new favorite, although he has chosen to trim his fund’s stake in the company. In its latest 13F filing, Platinum Asset Management has reported the ownership of 11.4 million shares, down 1% over the quarter, valued at roughly $354 million. Jim Simons is still bullish on Intel Corporation (NASDAQ:INTC) and has bought even more shares during the quarter. His fund, Renaissance Technologies, reportedly holds 17.3 million shares of Intel Corporation (NASDAQ:INTC), valued at more than $535 million.

Neilson has promoted Foster Wheeler AG (NASDAQ:FWLT) and made it his second biggest equity bet. Platinum Asset Management now holds 9.33 million shares, down 7% during the quarter, worth in excess of $318 million. Foster Wheeler AG (NASDAQ:FWLT) is one of Gavin M. Abrams favorite stocks and his second biggest position. His fund, Abrams Bison Investments, holds 5.4 million Foster Wheeler AG (NASDAQ:FWLT) shares, valued at approximately $184 million, as reported in the fund’s latest 13F filing.

Although Neilson has decreased his investment in Baker Hughes Incorporated (NYSE:BHI) by 11% during Q2, the stock ended up being his third largest equity position. Platinum Asset’s holding amasses 4.27 million Baker Hughes Incorporated (NYSE:BHI) shares, an investment valued at roughly $318 million, and which accounts for 5.52% of the fund’s portfolio. Ken Griffin is very bullish on Baker Hughes Incorporated (NYSE:BHI) and has boosted his fund’s stake by 242% during the second quarter. His fund, Citadel Investment Group, has control over 5.37 million shares worth approximately $400 million.

Disclosure: none.

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