As a tech-focused investor, Daniel Benton, who leads Andor Capital Management, holds many big names in his equity portfolio. Andor has recently reported its 13F filing for the third quarter reporting an equity portfolio worth $636.15 million. The portfolio was significantly cut during the quarter from $1.08 billion disclosed a quarter earlier, with the investor closing 18 positions and opening stakes in six companies. In this way, Andor has a pretty big turnover rate that stands at over 100%. In this article, we are going to take a look at Andor’s top five picks in terms of value, held as of the end of September.
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In Facebook Inc (NASDAQ:FB), Andor left its position unchanged at 500,000 shares worth $44.95 million in aggregate at the end of September. The stock of the social network operator inched up by some 5% during the third quarter, outperforming the broader market and is over 39% in the green year-to-date. The company’s last financial results showed strong growth in the number of daily and monthly active users and its focus on mobile has also registered good results, with mobile advertising revenue representing 78% of the total (see details). Facebook Inc (NASDAQ:FB) over the years has become a favorite among smart money investors. Leon Cooperman, Ken Fisher,
Clifford Fox are three other big money managers that hold shares of Facebook Inc (NASDAQ:FB).
Avago Technologies Ltd (NASDAQ:AVGO) is another winner in Andor’s equity portfolio; the stock has gained more than 19% since the beginning of the year. The fund cut its stake in the company by 40% during the third quarter and disclosed a $46.88 million stake that contains 375,000 shares as of the end of September. Avago Technologies Ltd (NASDAQ:AVGO) has recently made the news on the back of its acquisition of a plant in Eugene, Oregon, that the semiconductor company plans to retrofit and to start manufacturing components used in mobile phones by 2017. During the second quarter, Avago Technologies Ltd (NASDAQ:AVGO)’s popularity among the investors we follow increased to 72 from 46, while the aggregate value of their holdings was equal to almost 14% of the company’s outstanding stock at the end of June. This is not surprising, taking into account that the stock is trading at a forward P/E of 12.1 and analysts project further growth, assigning a consensus price target of $156.40 (an upside potential of 30%). Clifford Fox’s Columbus Circle Investors disclosed ownership of 456,991 shares of Avago Technologies Ltd (NASDAQ:AVGO) in its 13F filing for the third quarter.
On the following page we are going to take a look at the top three picks of Andor Capital Management, namely, T-Mobile US Inc (NASDAQ:TMUS), Alphabet Inc (NASDAQ:GOOGL), and Tesla Motors Inc (NASDAQ:TSLA).