Thursday , February 9 2023

Hedge fund star Ole Andreas Halvorsen climbs Boeing in crisis – Stocks – Stock market and finance


Ole Andreas Halvorsen of Østfold manages the portfolio for the eighth best hedge fund on Wall Street: Viking Global Investors with an office in Connecticut, USA.

The company's weekly quarterly report to the US Financial Supervisory Authority (SEC) shows that asset managers have made a billion bets on Boeing's shares.

The aircraft maker was not part of the portfolio at the end of the first quarter, but then Ole Andreas Halvorsen bought more than 2.77 million shares.

At the end of June, this represented a market value of $ 1.01 billion, or NOK 9.1 billion.

You can read the E24 here & # 39; & # 39; shadow portrait & # 39; & # 39; the billionaire in the media sky.

Stock drop after an accident

After a historic high of $ 440 at the beginning of March this year, Boeing's stock really did leak as a result of problems with Max.

The Ethiopian Airlines crash on March 10th was Max's second tragedy in less than six months and all Max's planes have been parked on the ground ever since. Throughout the spring and summer, the production of new aircraft declined while Max's orders were canceled – and the stock price declined.

Thursday's closing price was $ 328, 25 percent below the peak.

According to Viking Global Investors is too big a decline to interpret their billion-dollar investments. It is not known at what price Ole Andreas Halvorsen bought it, but it cannot be higher than $ 395.

36.7 billion Norwegian Kroner to FAANG

The latest quarterly report to the SEC also illustrates that Viking Global Investors' faith in the American tech giants – which Halvorsen has invested heavily in – has strengthened in recent months.

A May report for the first quarter showed that Viking released a total of 4.95 million shares of FAANG (Facebook, Apple, Amazon, Netflix, Google) worth $ 2.22 billion, while a new update of the week indicates that the fund is increased to 10.3 million shares – to a total value of $ 4.06 billion.

This corresponds to NOK 36.7 billion.

Four times on Facebook

However, Apple is not in the portfolio of a total of 59 companies. It's been two and a half years since Halvorsen last owned shares in the company.

It also reduced its stake in Google (Alphabet) by over 100,000 shares.

However, on Netflix, Amazon, and Facebook in particular, Tiger Boy (nicknamed his Tiger management time of the 1990s) was uploaded.

It has increased by half a million shares on Amazon and five million shares in Facebook.

At the end of June, Amazon's position was $ 13.7 billion ($ 5 billion in the first quarter), while Facebook's shares were worth $ 12.2 billion ($ 3.2 billion in the second quarter).

Wealth over NOK 30 billion

Since the start of Viking Global Investors in 1999, Ole Andreas Halvorsen has won a whopping $ 25.4 billion (NOK 222 billion) on behalf of its clients.

Along the way, he has accumulated a personal wealth of NOK 31-33 billion, according to Forbes and Capital magazine. The latter ranked Halvorsen as the eighth richest in Norway.

However, he does not like to share the knowledge that brought him to the top of Wall Street.

"The Viking does not give interviews," COO Rose Shabet replied when E24 contacted earlier this year.

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