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Third-quarter Top Five Transactions by Andreas Halvorsen

2022/11/30 (Nov 30th, 2022 8:12 am)
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The company founded by Andreas Halvorsen (Trades, Portfolio), Viking Global Investors LP, revealed in a regulatory filing that among its top five trades during the third quarter were the sale of its holdings in Centene Corp. (CNC, Financial) and American International Group Inc. (AIG, Financial), the reduction of its holding in T-Mobile US Inc. (TMUS, Financial), and increases in its holdings in Visa Inc. (V, Financial) and Elevance Health Inc. ( ELV, Financial).

Halvorsen served as senior managing director and director of equities at Tiger Management, run by Julian Robertson (Trades, Portfolio), before starting his own company in Greenwich, Connecticut. A detailed evaluation of a company’s business models, fundamental data, managerial effectiveness, and cyclical and secular industry patterns are done by Viking Global using fundamental analysis.

The company’s $21.57 billion 13F equity portfolio as of September had 87 equities, 20 of which were new investments, with a 26% quarterly turnover ratio. Health care, financial services, and technology make up the top three weighted sectors, accounting for 33.09%, 21.57%, and 16.59% of the stock portfolio, respectively.

Investors should be aware that while 13F filings only reflect a company’s investments in American depository receipts and U.S. stocks, they nonetheless contain useful information and do not provide a comprehensive picture of a company’s assets. Additionally, the reports only include trades and holdings as of the most recent portfolio filing date, which may or may not correspond to the reporting firm’s position as of the current day or even the publication date of this article.

By selling all 8,293,867 shares of Centene (CNC, Financial), Viking reduced its stock holdings by 3.22%.

The St. Louis-based provider of health insurance has a GF Score of 91 out of 100, powered by rankings of 10 for growth, 8 for profitability, and 6 for momentum, GF Value, and financial strength.

Despite having profit margins and returns that trail more than 60% of its worldwide competitors, Centene’s profitability is rated 8 out of 10 due to its 2.5-star business predictability ranking and 10 years of positive operational income.

The company reduced its stock portfolio by 2.37% by selling all 10,108,715 shares of American International Group (AIG, Financial).

The insurance firm with headquarters in New York has a GF Score of 71 out of 100. While the company has a momentum score of 9 out of 10, AIG’s profitability and GF Value rate just 5 out of 10, while financial strength and growth only receive a 4 out of 10.

Despite having a strong Piotroski F-score of 7, AIG’s financial strength is rated just 4 out of 10 due to its debt-to-equity ratios outperforming less than 80% of its international rivals.

The company sold 5,845,787 shares of T-Mobile (TMUS, Financial), reducing the stake by 63.75% and its stock holdings by 3.61%.

With a growth rank of 8 out of 10, profitability at 7 out of 10, momentum at 6 out of 10, financial strength at 4 out of 10, and GF Value at 3, the Bellevue, Washington-based telecom firm has a GF Score of 79 out of 100.

Dodge & Cox and Berkshire Hathaway Inc. (BRK.A, Financial), which is owned by Warren Buffett (Trades, Portfolio), are other experts who own shares of T-Mobile.

Viking increased the size of its position and the percentage of its equity holdings in Visa (V, Financial) by purchasing 2,790,724 shares.

The San Francisco-based company that processes payments has a GF Score of 99 out of 100, which is driven by rankings of 10 for profitability and growth, 9 for momentum and GF Value, and 7 for financial strength.

Gurus with stakes in Visa include Berkshire, Frank Sands’ Sands Capital Management, and Ken Fisher’s Fisher Investments (Trades, Portfolio).

Elevance Health (ELV, Financial) was added to Viking’s portfolio, increasing its position by 59.57% and its equity holdings by 1.84%.

Based on a growth rank of 10 out of 10, a profitability rank of 8 out of 10, a GF Value rank of 5 out of 10, and a rank of 6 out of 10 for financial strength and momentum, the health insurance company with headquarters in Indianapolis has a GF Score of 90 out of 100.

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