Christopher R. Hansen’s Valiant Capital lost 1.24% in June, although its side pocket portfolio gained 2.56%. The liquid fund, which accounts for more than 80% of Valiant’s total assets, fell 1.92%. However, the overall results for the first six months of 2014 are quite good: the fund’s portfolio value inched 5.3%. So, let’s take a look at some of his top picks’ performance in order to find out where this growth came from.
All of Valiant’s top 5 stock picks rose between January and June; however, the biggest gainers were Apple Inc. (NASDAQ:AAPL), Qihoo 360 Technology Co Ltd (NYSE:QIHU) and Anheuser Busch Inbev SA (ADR) (NYSE:BUD), although Google Inc (NASDAQ:GOOG) and Priceline.com Inc (NASDAQ:PCLN) were also up, by 2.77% and 3.49%, respectively.
Apple Inc. (NASDAQ:AAPL), Mr. Hansen’s largest equity position by the end of the first quarter, advanced by 15.95% in the first half of the year. The fund’s 258,431 shares were worth $144.98 million (more than 10% of the fund’s total equity portfolio) by the end of 2013; following a 7:1 split in early June, Valiant’s holdings are now worth more than $170 million.
One fund that has particularly profited from Apple Inc. (NASDAQ:AAPL)’s stock appreciation is Carl Icahn’s Icahn Capital Lp, which held 7.53 million shares by the end of the first quarter of the year.
Qihoo 360 Technology Co Ltd (NYSE:QIHU) is a mid-cap Chinese high-quality internet and mobile security products provider of which Mr. Hansen owns 995,013 shares, worth about $100 million by the end of March. The stock price crept 12.18% between January and June, and more than 15.6% year-to-date.
I should highlight that Valiant started a position in Qihoo 360 Technology Co Ltd (NYSE:QIHU) during the first three months of the year. Since we do not know the exact date in which the fund acquired the stock, we cannot know –for certain- how much it won; however, the upside has been plenty.
Louis Navellier’s Navellier & Associates has been also taking advantage of this rise in Qihoo 360 Technology Co Ltd (NYSE:QIHU)’s stock price, not only because its 638,926 shares (declared by the end of Q1) have been gaining value, but also because it has been selling some of its shares over the first half of 2014, capitalizing on the price upsurges.
Anheuser Busch Inbev SA (ADR) (NYSE:BUD) is the last company in this list. The famed brewer gained almost 8% over the first six months of the year, generating plenty of upside for Valiant, which had 9% of its Q1 total equity portfolio’s value invested in the company’s stock. The fund last declared ownership of 698,912 shares, worth more than $73 million.
Other funds betting on Anheuser Busch Inbev SA (ADR) (NYSE:BUD) are Tom Russo’s Gardner Russo & Gardner, which owns more than 5 million shares, and J Kevin Kenny Jr’s Emerging Sovereign Group, with 3.41 million shares.
Disclosure: Javier Hasse holds no position in any stocks or funds mentioned