John Burbank’s Passport Capital seems to become bullish on tech stocks. At least this is what his latest 13F filing with the Security and Exchange Commission suggests. As of the end of the second quarter Passport Capital had a portfolio of 298 positions worth around $6 billion. Breaking down the portfolio by sector allocation, the share of financial stocks far outstrips the consumer discretionary, with the former claiming 40% and the latter 18%. The tech industry makes about 11.7% of the portfolio, which is just a notch less than the energy sector share of 11.9%. In this article we will take a look at the top three new positions in terms of value from the tech sector.
Burbank has bought 562,003 shares of Yahoo! Inc. (NASDAQ:YHOO), which have a current market value of $20 million. The stake in Yahoo! Inc. (NASDAQ:YHOO) makes about 0.33% of the investor’s portfolio. Yahoo! Inc. (NASDAQ:YHOO) is also loved by John Thaler’s JAT Capital Management, who is much more bullish on the stock owning 8.8 million shares worth $311 million.
In addition to the stake in Yahoo! Inc. (NASDAQ:YHOO), Burbank acquired this quarter 223,338 shares of Facebook Inc (NASDAQ:FB), which have a market value of around $15 million. The Facebook Inc (NASDAQ:FB) stake makes 0.25% of the investor’s portfolio. Other investors that own stakes in Facebook Inc (NASDAQ:FB), include Andreas Halvorsen’s Viking Global with 4 million shares worth $275 million and David Tepper’s Appaloosa Management with 3.5 million shares valued at $241 million.
Burbank has also added Apple Inc. (NASDAQ:AAPL) to his equity portfolio. He has bought 125,788 shares worth $11.6 million, which make around 0.20% of his portfolio. The investor has made a small bet on the stock as rumors continue to build around a possible release date of a new version of Apple Inc. (NASDAQ:AAPL)’s flagship product, iPhone 6. In addition to Burbank, legendary activist investor Carl Icahn is bullish on Apple Inc. (NASDAQ:AAPL). He owns 52.7 million shares which have a market value of $4.9 billion.