In this piece, we will take a look at Billionaire Andreas Halvorsen’s 10 Stock Picks With Huge Upside Potential.
Ole Andreas Halvorsen is one of the prominent names among former employees of Julian Robertson’s Tiger Management. Robertson put together a formidable team of young traders – called the Tiger Cubs – in the 1990s, and most founded their own hedge funds after exit. Some other noteworthy names include Robert Citrone, Chase Coleman, and John Griffin. Halvorsen is the wealthiest Tiger Cub. Forbes Magazine ranks him at position 382 in the Richest People in the World in 2025 list with an $8 billion net worth.
The Norwegian billionaire founded Viking Global Investors LP in 1999 with former Tiger Management employees Brian Olson and David Ott. Halvorsen was an equity trader at Tiger Management, and the strategies and principles he used there form a core foundation of Viking Global’s approach. The fund conducts extensive due diligence on individual companies to identify undervalued (long) or overvalued (short) stocks. In short, Halvorsen generates much of his returns using the classic long/short equity strategy.
READ ALSO: Billionaire Steve Cohen’s 10 Large-Cap Stock Picks With Huge Upside Potential and Billionaire Prem Watsa’s 10 Stock Picks With Highest Potential.
But most importantly, Halvorsen is popular for his bold bets. And on many occasions, these bets have returned massive gains. For instance, in the first full year of Viking Global’s existence, the fund returned 89% after fees. More recently, in Q4 2024, the billionaire made three banks his top holdings. As of April 2025, the banking sector (within Halvorsen’s portfolio) is performing well and is the only sector that is up year-to-date.
If anything, Halvorsen’s approach teaches that playing the long game might be a great strategy for favorable gains. Many of the stocks in Viking Global’s portfolio have been there for many years, often bought when they weren’t so popular. In that light, it is prudent to examine what stocks the billionaire is invested in, especially those with considerable upside potential.
Ole Andreas Halvorsen of Viking Global
Our Methodology
We reviewed Viking Global’s Q4 2024 SEC 13F filings to compile this list. Out of the 86 holdings, we focused only on shares in companies and excluded interests in ETFs and options. From the result, we selected the top 10 stocks with the highest upside potential (as of April 28). Additionally, we have mentioned the hedge fund sentiment around each stock as of Q4 2024.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
Billionaire Andreas Halvorsen’s 10 Stock Picks With Huge Upside Potential
10. Synopsys, Inc. (NASDAQ:SNPS)
Upside Potential as of April 28: 33.96%
Viking Global’s Stake Value: $350,098,904
Number of Hedge Fund Holders: 72
Synopsys, Inc. (NASDAQ:SNPS) is a technology company that provides tools and solutions for designing and verifying semiconductor chips. Some of the products include software for electronic design automation (EDA), semiconductor intellectual property (IP), and consulting services. The company’s clients are semiconductor manufacturers and electronics companies.
In Q1 2025, Synopsys, Inc.’s (NASDAQ:SNPS) revenue came in at $1.455 billion, exceeding the midpoint of guidance. The company reported GAAP earnings per diluted share of $1.89 and non-GAAP earnings per diluted share of $3.03, also surpassing guidance. The firm reaffirmed its full-year guidance for the fiscal year 2025. It expects revenue to range from $6.745 billion to $6.805 billion. Synopsys, Inc.’s (NASDAQ:SNPS) role in the market is strengthening thanks to strategic partnerships and technological advancements. On April 23, 2025, the corporation announced an ongoing collaboration with Taiwan Semiconductor Manufacturing Company Limited (TSMC) (NYSE:TSM) to deliver EDA and IP solutions for TSMC’s most advanced processes and packaging technologies.
On April 15, 2025, analysts at KeyBanc Capital Markets lowered their price target for Synopsys, Inc. (NASDAQ:SNPS) stock from $690 to $555. However, the analysts retained an Overweight rating on the stock. The adjustment followed a discussion with Synopsys’ CEO and CFO, highlighting strong gross margins of 81.35%, a 10.58% weekly return, and diversified manufacturing, mitigating China concerns. Demand was described as “oversubscribed,” with positive IP developments and Intel collaborations noted. The firm reaffirmed plans to acquire ANSYS and sees Synopsys, trading near a three-year low, as a strong risk-reward opportunity with multiple catalysts ahead.
9. Salesforce, Inc. (NYSE:CRM)
Upside Potential as of April 28: 35.28%
Viking Global’s Stake Value: $405,034,777
Number of Hedge Fund Holders: 162
Salesforce Inc (NYSE:CRM) is a technology company that provides cloud computing and customer relationship management (CRM) services. Its products include software solutions for sales, customer service, marketing, commerce, and analytics. The company operates globally and serves businesses of all sizes across industries like retail, healthcare, and finance.
Salesforce Inc (NYSE:CRM) delivered solid results in Q4 2025, with revenue reaching $10.0 billion, up 8% year-over-year and 9% in constant currency. For the full fiscal year 2025, Salesforce (NYSE:CRM) reported revenue of $37.9 billion, up 9% both year-over-year and in constant currency. The firm achieved strong cash flow generation with operating cash flow of $13.1 billion, up 28% year-over-year, and free cash flow of $12.4 billion, up 31% year-over-year.
Salesforce Inc’s (NYSE:CRM) AI initiatives are showing strong momentum. Since October 2024, the company closed 5,000 Agentforce deals, including more than 3,000 paid ones. As a result, its Data Cloud and AI annual recurring revenue reached $900 million, growing 120% year-over-year. Nearly half of the Fortune 100 companies are both AI and Data Cloud customers, with all of the top 10 wins in Q4, including Data and AI components. On April 21, 2025, Guggenheim Securities upgraded Salesforce (NYSE:CRM) stock from Sell to Neutral. The research firm acknowledged that the stock’s recent decline has brought it in line with what they believe to be the company’s prospects.
8. Flutter Entertainment plc (NYSE:FLUT)
Upside Potential as of April 28: 35.64%
Viking Global’s Stake Value: $482,964,998
Number of Hedge Fund Holders: 98
Flutter Entertainment plc (NYSE:FLUT) is a sports betting and gaming company. It operates brands like FanDuel, Paddy Power, and Betfair. These brands offer products such as online sports betting, casino games, poker, and fantasy sports. Its services cater to recreational and professional gamblers, providing platforms for wagering on sports events, horse racing, and other games.
Flutter Entertainment plc (NYSE:FLUT) reported robust financial results in Q4 2024. Revenue grew by 14% year-over-year to $3.79 billion, driven by a 7% increase in average monthly players to 14.6 million. For the full year 2024, revenue increased by 19% to $14.05 billion. The firm also posted a remarkable turnaround in profitability, reporting a net income of $162 million compared to a loss of $1.21 billion in 2023.
Flutter Entertainment plc’s (NYSE:FLUT) US operations through FanDuel continue to be a significant growth driver. On April 23, 2025, the company revealed that FanDuel would participate in the 151st Kentucky Derby scheduled for May 3, 2025. FanDuel will offer “exclusive promotions, live coverage, and can’t-miss events” to elevate the Derby experience for racing fans. On April 21, 2025, Benchmark analysts maintained their positive outlook on Flutter Entertainment plc’s (NYSE:FLUT) shares. They reiterated a Buy rating and a $300 price target.
7. Adobe Inc. (NASDAQ:ADBE)
Upside Potential as of April 28: 37.84%
Viking Global’s Stake Value: $549,041,060
Number of Hedge Fund Holders: 117
Adobe Inc. (NASDAQ:ADBE) is a software company known for its creative and digital solutions. Its products include tools for graphic design, photo editing, video production, animation, and document management. The company operates globally and its clients range from individual creators and small businesses to large enterprises across industries like media, marketing, education, and technology.
Adobe Inc. (NASDAQ:ADBE) reported record revenue of $5.71 billion in Q1 2025, representing 10% year-over-year growth or 11% in constant currency. The company also delivered record operating cash flows of $2.48 billion. Digital Media segment revenue reached $4.23 billion, growing 11% year-over-year, while Digital Experience segment revenue was $1.41 billion, up 10% year-over-year.
Adobe Inc. (NASDAQ: ADBE) is expanding its AI capabilities with the new Firefly app, announced at MAX London. The app integrates Adobe’s AI models with Google Cloud and OpenAI, allowing creators to produce multimedia content easily. The company also expanded its NFL partnership on April 23, 2025. Adobe Experience Platform will help the NFL and its clubs personalize fan engagement, while Creative Cloud tools will be used for live content creation. On April 16, 2025, BMO Capital Markets adjusted its outlook on Adobe Inc.’s (NASDAQ:ADBE) stock. It cut the price target by $45 to $450 but maintained an Outperform rating on the stock.
6. American Airlines Group Inc. (NASDAQ:AAL)
Upside Potential as of April 28: 44.41%
Viking Global’s Stake Value: $236,002,095
Number of Hedge Fund Holders: 59
American Airlines Group Inc. (NASDAQ:AAL) is the largest airline in the world by number of passengers carried. The American company transports passengers and cargo, and it provides both domestic and international flights. Its key markets include the United States, Europe, Asia, and Latin America.
American Airlines Group Inc. (NASDAQ:AAL) reported mixed Q1 2025 results, with revenues of $12.55 billion, down 0.2% year-over-year, and a narrower-than-expected loss of 59 cents per share. Passenger revenues, making up 90.8% of the total, fell 0.6% to $11.4 billion due to weaker domestic leisure demand caused by tariff concerns. On April 24, 2025, the airline withdrew its full-year guidance, citing economic challenges, but remains focused on improving customer experience.
“We’re in a challenging economic environment which has had a significant impact on the industry,” CEO Robert Isom said, noting that while the airline industry historically thrives in periods of economic growth, the positive momentum seen at the end of 2024 faded quickly in early 2025. For Q2 2025, management expects total revenues to be down 2% to up 1% from Q2 2024, with adjusted earnings per share between 50 cents and $1.
Analysts hold a Moderate Buy rating opinion on American Airlines Group Inc. (NASDAQ:AAL), and their 12-month average price target points to a 44.41% upside from the current price as of April 28.
5. NVIDIA Corporation (NASDAQ:NVDA)
Upside Potential as of April 28: 51.84%
Viking Global’s Stake Value: $272,875,266
Number of Hedge Fund Holders: 223
NVIDIA Corporation (NASDAQ:NVDA) designs and produces graphics processing units (GPUs) and related technologies. The GPUs are used in various applications, including gaming, professional visualization, AI, and data centers.
Despite an unassailable lead, NVIDIA Corporation (NASDAQ:NVDA) continues to pursue new products and innovations. On April 15, 2025, the company unveiled the GeForce RTX 5060 family of GPUs. The product line includes graphics cards starting at just $299, making its advanced Blackwell architecture technology accessible to mainstream gamers. The new GeForce RTX 5060 Ti and RTX 5060 graphics cards feature NVIDIA DLSS 4, full ray tracing, and neural rendering technologies for exceptional performance.
The company is also advancing its AI ecosystem through strategic partnerships. At ICLR in Singapore, the company is showcasing over 70 research papers. These cover multimodal generative AI, including Fugatto, the world’s most flexible audio generative AI model. Additionally, NVIDIA (NASDAQ:NVDA) announced that its NeMo microservices are now generally available, helping enterprises build AI agents with improved accuracy and efficiency. On April 17, 2025, Stifel analysts upheld their Buy rating and a price target of $180.00 for NVIDIA Corporation (NASDAQ:NVDA) shares. The opinion aligns with the broader Wall Street consensus that remains strongly bullish on the $2.60 trillion semiconductor giant.
4. BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)
Upside Potential as of April 28: 54.15%
Viking Global’s Stake Value: $690,858,452
Number of Hedge Fund Holders: 51
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) is a biopharmaceutical company that develops treatments for rare genetic diseases. Its products include innovative therapies for conditions like phenylketonuria (PKU), hemophilia, and Batten disease. The company targets patients with unmet medical needs, focuses on improving their quality of life, and has a strong presence in the US and Europe.
In the fiscal year 2024, BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) reported record results, with total revenues for the full year reaching $2.85 billion. Fourth quarter results were just as impressive—total revenues reached $747 million, up 16% year-over-year. Much of the income came from VOXZOGO, the company’s treatment for achondroplasia. Strong global demand in Q4 2024 drove 42% growth and 56% full-year growth for the drug’s revenues. Management expects even bigger growth figures in 2025.
According to Alexander Hardy, the company’s President and CEO, “We begin 2025 ready to build on our leadership in treating genetically defined conditions and deliver breakthrough medicines to the patients we serve. This year, we expect a number of innovative pipeline candidates to advance.” This conviction provides the basis for the 2025 guidance, which expects full-year 2025 revenue to be between $3.1 billion and $3.2 billion.
Analysts too carry optimism. On April 21, 2025, Oppenheimer reiterated its Outperform rating on BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) shares. The research firm also maintained a $98.00 price target.
3. BridgeBio Pharma, Inc. (NASDAQ:BBIO)
Upside Potential as of April 28: 56.39%
Viking Global’s Stake Value: $689,319,993
Number of Hedge Fund Holders: 48
BridgeBio Pharma, Inc. (NASDAQ:BBIO) is a biotechnology company that develops treatments for genetic diseases and cancers. Its products include therapies targeting rare conditions and innovative cancer treatments. The company operates mainly in the US, Japan, and Europe but has global end markets.
In Q4 2024, BridgeBio’s (NASDAQ:BBIO) revenue was $5.9 million, a substantial growth from $1.7 million in the same period in fiscal year 2023. Full-year revenue reached $221.9 million, many multiples more than the $9.3 million posted in 2023. According to the company, this growth was driven by the commercial launch of Attruby and licensing agreements. The company ended the fourth quarter with $681.2 million in cash and cash equivalents and expects to receive $105 million in regulatory milestones in the first half of 2025.
BridgeBio Pharma, Inc.’s (NASDAQ:BBIO) flagship product, Attruby, saw 1,028 prescriptions by 516 prescribers by February; it earned EU approval (BEYONTTRA) with a $75M milestone and Japanese approval in March 2025, triggering a $30M milestone. On April 15, 2025, H.C. Wainwright analyst Raghuram Selvaraju raised BridgeBio Pharma, Inc.’s (NASDAQ:BBIO) price target to $53 from $49, maintaining a Buy rating on the shares.
2. NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS)
Upside Potential as of April 28: 145.43%
Viking Global’s Stake Value: $179,348,324
Number of Hedge Fund Holders: 36
NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) is another biopharmaceutical company in Halvorsen’s portfolio with a high upside potential. The company develops treatments for cardiovascular diseases. Its main product is obicetrapib.
NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) reported $45.6 million Q4 2024 revenue, more than three times the figure in the same quarter in 2023. This growth was primarily driven by the achievement of a clinical success milestone and the recognition of revenue related to general development cost reimbursement. The company ended December 31, 2024, with cash and cash equivalents of $771.7 million and $62.5 million in marketable securities, up from $340.5 million at the end of 2023.
The firm’s regulatory and commercial progress continues to advance. NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) expects its partner Menarini to submit for European marketing approval in the second half of 2025. At the same time, the company’s Phase 3 PREVAIL cardiovascular outcomes trial remains on track with over 9,500 patients enrolled. On April 17, 2025, Jefferies analyst Dennis Ding maintained a Buy rating on NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) and set a price target of $45.00. The company’s shares currently trade at $17.52, close to their 52-week low of $14.06. This indicates a significant upside potential based on analyst expectations.
1. Roivant Sciences Ltd. (NASDAQ:ROIV)
Upside Potential as of April 28: 301.91%
Viking Global’s Stake Value: $565,591,827
Number of Hedge Fund Holders: 44
Roivant Sciences Ltd. (NASDAQ:ROIV) is a biopharmaceutical company that develops and commercializes medicines and healthcare technologies. The company operates through its Vant subsidiaries, including Immunovant, Priovant, and others. It serves pharmaceutical markets globally.
Roivant Sciences Ltd.’s (NASDAQ:ROIV) third quarter ended December 31, 2024, financial report indicates a healthy company. By the end of 2024, the firm had approximately $5.2 billion of consolidated cash, cash equivalents, restricted cash, and marketable securities. This excludes the $75 million milestone from VTAMA’s approval in January 2025 and $113 million raised in Immunovant’s private placement, which raised Roivant’s ownership in Immunovant to 57%.
The company’s pipeline is growing, with Priovant starting a Phase 2 study of brepocitinib in cutaneous sarcoidosis and Immunovant launching trials of IMVT-1402 for Graves’ disease and rheumatoid arthritis; key data, including results from batoclimab’s myasthenia gravis trial, is expected in 2025. On April 22, 2025, H.C. Wainwright reiterated its Buy rating on Roivant Sciences Ltd. (NASDAQ:ROIV) with an $18.00 price target. The research firm maintained a positive outlook despite recent management changes.
While we acknowledge the potential of Roivant Sciences Ltd. (NASDAQ:ROIV) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than ROIV but that trades at less than 5 times its earnings check out our report about this cheapest AI stock.
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