In this article, we discuss Andreas Halvorsen and his top 5 stock picks. If you want to read about some more stocks in the Halvorsen portfolio, go directly to Andreas Halvorsen Stock Portfolio: 10 Top Stock Picks.
5. Danaher Corporation (NYSE:DHR)
Number of Hedge Fund Holders: 89
Danaher Corporation (NYSE:DHR) is a Washington-based conglomerate with interests in professional, medical, industrial, and commercial products and services. Latest filings show that Viking Global owned 4.6 billion shares in Danaher Corporation (NYSE:DHR) at the end of the third quarter of 2023 worth $1 billion, representing 4.14% of the portfolio.
On October 26, investment advisory Barclays maintained an Overweight rating on Danaher Corporation (NYSE:DHR) stock and lowered the price target to $215 from $290.
At the end of the second quarter of 2023, 89 hedge funds in the database of Insider Monkey held stakes worth $6.3 billion in Danaher Corporation (NYSE:DHR), compared to 90 in the preceding quarter worth $5.6 billion.
In its Q3 2023 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Danaher Corporation (NYSE:DHR) was one of them. Here is what the fund said:
“We added to Danaher Corporation (NYSE:DHR), which recently completed the spinoff of its non-life sciences businesses to become a pure-play life sciences tools company. Although near-term trends in the bioprocessing market remain challenging, we like the long-term growth drivers in this business and think Danaher is well positioned.”
4. United Parcel Service, Inc. (NYSE:UPS)
Number of Hedge Fund Holders: 47
United Parcel Service, Inc. (NYSE:UPS) provides letter and package delivery services. 13F filings show that Viking Global owned 6.6 million shares in United Parcel Service, Inc. (NYSE:UPS) at the end of the third quarter of 2023 worth $1 billion, representing 4.21% of the portfolio.
On November 8, investment advisory Loop Capital maintained a Hold rating on United Parcel Service, Inc. (NYSE:UPS) stock and lowered the price target to $162 from $172.
Among the hedge funds being tracked by Insider Monkey, Chicago-based Citadel Investment Group is a leading shareholder in United Parcel Service, Inc. (NYSE:UPS) with 1.9 million shares worth more than 306 million.
In its Q3 2023 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and United Parcel Service, Inc. (NYSE:UPS) was one of them. Here is what the fund said:
“A higher-for-longer rate mentality taking hold was a headwind for economically sensitive stocks. Rising wages have been one of the main drivers of inflation, and this has proved to be a sticky area, keeping the Fed’s attention and weighing on share prices. For example, United Parcel Service, Inc. (NYSE:UPS) renegotiated a wage increase for its union-backed workforce this summer, which weighed on margins that were already being constricted by slowing volumes. While the new union deal will dampen profits over the next 12 months due to the front-end-loaded nature of the new five-year contract, management gained increased flexibility to deploy automation, which we think should further enhance UPS’s strong competitive position and provide a long-term tailwind to profitability.”
3. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 278
Amazon.com, Inc. (NASDAQ:AMZN) is a diversified technology firm with core interests in ecommerce. Securities filings show that Viking Global owned 8.7 million shares of Amazon.com, Inc. (NASDAQ:AMZN) at the end of September 2023 worth $1.1 billion, representing 4.51% of the portfolio.
Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Amazon.com, Inc. (NASDAQ:AMZN) with 34 million shares worth more than $4.3 billion.
In its Q3 2023 investor letter, Polen Capital, an asset management firm, highlighted a few stocks and Amazon.com, Inc. (NASDAQ:AMZN) was one of them. Here is what the fund said:
“Amazon continues to showcase it’s place as one of the most competitively advantaged companies in the world. The company has made significant progress in managing costs and better leveraging existing capacity, driving a strong recovery in its profitability. We think there’s additional room for improvement.
AWS growth seems to be stabilizing even while management continues to work with clients to optimize their infrastructure spend. Roughly 90% of global IT spending remains on premise. We believe this will eventually flip, with most IT spending ultimately moving to the cloud over time. We think AWS will be a significant beneficiary of this transition.
Further, our investment case on company profitability driven by AWS and advertising continues to unfold, delivering nearly $8 billion in free cash flow over the trailing twelve months and a net margin of 5%. We expect both to move higher with the mix shift of more profitable businesses growing fastest continuing to take effect.
At Amazon’s current price, we believe the company is well positioned to deliver a mid-teens or higher total shareholder return for our clients over the next five plus years without a Herculean effort from the business. It simply needs to continue executing on current businesses and growing into the capacity it built during and immediately after the pandemic.”
2. Workday, Inc. (NASDAQ:WDAY)
Number of Hedge Fund Holders: 71
Workday, Inc. (NASDAQ:WDAY) markets enterprise cloud applications and is headquartered in California. 13F filings reveal that Viking Global owned over 5.2 million shares of Workday, Inc. (NASDAQ:WDAY) at the end of the third quarter of 2023 worth $1.1 billion, representing 4.56% of the portfolio.
On November 20, investment advisory Bank of America maintained a Buy rating on Workday, Inc. (NASDAQ:WDAY) stock and raised the price target to $270 from $260.
At the end of the second quarter of 2023, 71 hedge funds in the database of Insider Monkey held stakes worth $5.06 billion in Workday, Inc. (NASDAQ:WDAY), compared to 86 in the previous quarter worth $5.02 billion.
In its Q3 2023 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Workday, Inc. (NASDAQ:WDAY) was one of them. Here is what the fund said:
“Despite near-term macro uncertainty, it’s important to frame that we find ourselves in the early innings of both the AI investment cycle and overall cloud penetration. We estimate cloud penetration to be between 25% and 30% versus the likely 70% to 75% level over time, if not even higher. AI deployments are literally just getting off the ground.Infrastructure and development platforms for securely storing and curating data, training and fine-tuning large-language and other AI models, and developing and delivering AI applications. Beneficiaries include Microsoft Azure and Amazon Web Services. Integration of generative AI capabilities, such as AI agents and copilots, directly into existing product offerings and customer workflows. Software vendors capitalizing on this opportunity includes Workday, Inc.“
1. Visa Inc. (NYSE:V)
Number of Hedge Fund Holders: 171
Visa Inc. (NYSE:V) is a California-based payments technology firm. Latest data reveals that Viking Global owned over 6.9 million shares of Visa Inc. (NYSE:V) at the end of the third quarter of 2023 worth $1.6 billion, representing 6.5% of the portfolio.
On October 30, investment advisory Mizuho maintained a Neutral rating on Visa Inc. (NYSE:V) stock and raised the price target to $243 from $240, noting that US volume growth as a percent of incremental personal consumption expenditures for the firm was declining.
At the end of the second quarter of 2023, 171 hedge funds in the database of Insider Monkey held stakes worth $24 billion in Visa Inc. (NYSE:V), compared to 173 in the preceding quarter worth $26 billion.
In its Q3 2023 investor letter, Ensemble Capital Management, an asset management firm, highlighted a few stocks and Visa Inc. (NYSE:V) was one of them. Here is what the fund said:
“Mastercard is a company that pretty much everyone has heard of. In fact, when we meet with Ensemble’s clients, we occasionally tell them that we’re nearly certain that they are carrying a Mastercard in their wallet or purse as we speak, and if not, they are carrying a Visa Inc. (NYSE:V). Most people carry both.
People carry Mastercard and Visa because they are accepted nearly everywhere in developed markets. And they are accepted in most emerging economies, at least at locations where higher income people spend money. As a shopper you can show up at a bodega in Peru, a high end hotel in Tokyo, a truck stop in Alabama, or an ice cream cart in Milan, show them a piece of plastic and they’ll let you walk away with goods and services without any worry that they aren’t going to get paid…” (Click here to read the full text)
You can also take a peek at 15 Biggest Lumber Companies in the World and 15 Biggest Cryptocurrency Exchanges in the World.
