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Halvorsen Bought 13 New Holdings in 2nd Quarter

GuruFocus.com

- By David Goodloe

Andreas Halvorsen (Trades, Portfolio), founder and chief investment officer for Viking Global Investors, invested in 13 new holdings in the second quarter.


Halvorsen's largest acquisition of the quarter was the purchase of a 1,133,502-share stake in Intercontinental Exchange Inc. (ICE), an Atlanta-based business services company, for an average price of $252.04 per share. The transaction had a 1.23% impact on the portfolio.

Pioneer Investments (Trades, Portfolio) is Intercontinental Exchange's leading shareholder among the gurus with a stake of 1,428,973 shares. The stake is 1.2% of Intercontinental Exchange's outstanding shares and 1.35% of Pioneer Investments (Trades, Portfolio)' total assets.

Intercontinental Exchange has a price-earnings (P/E) ratio of 23.35, a forward P/E of 18.05, a price-book (P/B) ratio of 2.20 and a price-sales (P/S) ratio of 5.96. GuruFocus gives Intercontinental Exchange a Financial Strength rating of 5/10 and a Profitability and Growth rating of 9/10 with return on equity (ROE) of 10.03% that is higher than 67% of the companies in the Global Financial Exchanges industry and return on assets (ROA) of 1.94% that is higher than 54% of the companies in that industry.

Intercontinental Exchange sold for $282.53 per share at market close Thursday. The DCF Calculator gives Intercontinental Exchange a fair value of $129.6.

Halvorsen bought a 5,633,782-share stake in Redmond, Washington-based technology company Microsoft (MSFT) for an average price of $52.01 per share. The deal had a 1.22% impact on the portfolio.

Microsoft's leading shareholder among the gurus is PRIMECAP Management (Trades, Portfolio) with a stake of 58,516,633 shares. The stake is 0.75% of Microsoft's outstanding shares and 3.19% of PRIMECAP's total assets.

Microsoft has a P/E of 27.93, a forward P/E of 19.65, a P/B of 6.23 and a P/S of 5.44. GuruFocus gives Microsoft a Financial Strength rating of 6/10 and a Profitability and Growth rating of 7/10 with ROE of 21.64% that is higher than 86% of the companies in the Global Software - Infrastructure industry and ROA of 9.13% that is higher than 78% of the companies in that industry.

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Microsoft sold for $57.43 per share Thursday. The DCF Calculator gives Microsoft a fair value of $22.05.

Halvorsen invested in a 12,613,321-share stake in Rice Energy Inc. (RICE), a Pennsylvania-based oil and gas exploration and production company, for an average price of $18.62 per share. The transaction had a 1.18% impact on the portfolio.

The stake is 8.06% of Rice Energy's outstanding shares and 1.18% of the guru's total assets. The guru is Rice Energy's leading shareholder among the gurus.

Rice Energy has a P/B of 3.02 and a P/S of 6.86. GuruFocus gives Rice Energy a Financial Strength rating of 4/10 and a Profitability and Growth rating of 3/10 with ROE of -28.74% that is lower than 53% of the companies in the Global Oil & Gas E&P industry and ROA of -9.44% that is higher than 61% of the companies in that industry.

Rice Energy sold for $28.03 per share Thursday. The DCF Calculator gives Rice Energy a fair value of $-30.5.

Halvorsen bought 3,334,968 shares in American International Group Inc. (AIG), an insurance and financial services company based in New York City, for an average price of $55.19 per share. The deal had a 0.75% impact on the portfolio.

Carl Icahn (Trades, Portfolio) is American International Group's leading shareholder among the gurus with a stake of 45,644,982 shares. The stake is 4.26% of the company's outstanding shares and 11.91% of the guru's total assets.

American International Group has a forward P/E of 10.65, a P/B of 0.71 and a P/S of 1.36. GuruFocus gives American International Group a Financial Strength rating of 5/10 and a Profitability and Growth rating of 3/10 with ROE of -0.36% that is lower than 84% of the companies in the Global Insurance - Diversified industry and ROA of -0.07% that is lower than 83% of the companies in that industry.

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American International Group sold for $59.04 per share Thursday. The DCF Calculator gives American International Group a fair value of 43 cents.

Halvorsen acquired a 3,600,912-share stake in The Hartford Financial Services Group (HIG), an investment and insurance company based in Connecticut, for an average price of $44.66 per share. The transaction had a 0.68% impact on the portfolio.

Pioneer Investments (Trades, Portfolio) is Hartford's leading shareholder among the gurus with a stake of 5,110,222 shares. The stake is 1.32% of Hartford's outstanding shares and 0.84% of Pioneer Investments (Trades, Portfolio)' total assets.

Hartford has a P/E of 12.60, a forward P/E of 9.87, a P/B of 0.86 and a P/S of 0.93. GuruFocus gives Hartford a Financial Strength rating of 5/10 and a Profitability and Growth rating of 5/10 with ROE of 7.39% that is lower than 57% of the companies in the Global Insurance - Diversified industry and ROA of 0.58% that is lower than 71% of the companies in that industry.

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Hartford sold for $40.98 per share Thursday. The DCF Calculator gives Hartford a fair value of $34.46.

Halvorsen invested in 3,541,981 shares in Tyco International (TYC), a New Jersey-based security systems company, for an average price of $41.85 per share. The deal had a 0.67% impact on the portfolio.

Dodge & Cox is Tyco's leading shareholder among the gurus with a stake of 36,485,262 shares. The stake is 8.96% of Tyco's outstanding shares and 1.61% of Dodge & Cox's total assets.

Tyco has a P/E of 38.81, a forward P/E of 20.04, a P/B of 4.47 and a P/S of 2.11. GuruFocus gives Tyco a Financial Strength rating of 6/10 and a Profitability and Growth rating of 6/10 with ROE of 12.64% that is higher than 69% of the companies in the Global Security & Protection Services industry and ROA of 4.49% that is higher than 62% of the companies in that industry.

Tyco sold for $47.74 per share Thursday. The DCF Calculator gives Tyco a fair value of $13.38.

The guru acquired 618,862 shares in Jazz Pharmaceuticals (JAZZ), a Dublin-based biotechnology company, for an average price of $147.16 per share. The transaction had a 0.37% impact on the portfolio.

Jim Simons (Trades, Portfolio) is the company's leading shareholder among the gurus with 719,508 shares in the portfolio. The holding is 1.19% of the company's outstanding shares and 0.19% of Simons' total assets.

Jazz Pharmaceuticals has a P/E of 21.31, a forward P/E of 10.96, a P/B of 4.39 and a P/S of 5.48. GuruFocus gives Jazz Pharmaceuticals a Financial Strength rating of 6/10 and a Profitability and Growth rating of 9/10 with ROE of 22.51% that is higher than 94% of the companies in the Global Biotechnology industry and ROA of 10.35% that is higher than 91% of the companies in that industry.

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Jazz Pharmaceuticals sold for $121.63 per share Thursday. The DCF Calculator gives Jazz Pharmaceuticals a fair value of $61.

The guru purchased a 1,089,482-share stake in HCA Holdings (HCA), a Nashville, Tennessee-based operator of health care centers, for an average price of $78.93 per share. The deal had a 0.36% impact on the portfolio.

Larry Robbins (Trades, Portfolio) is HCA Holdings' leading shareholder among the gurus with a stake of 14,586,992 shares. The stake is 3.85% of HCA Holdings' outstanding shares and 7.94% of Robbins' total assets.

HCA Holdings has a P/E of 13.47, a forward P/E of 11.06 and a P/S of 0.80. GuruFocus gives HCA Holdings a Financial Strength rating of 4/10 and a Profitability and Growth rating of 8/10 with ROA of 7.34% that is higher than 69% of the companies in the Global Medical Care industry.

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HCA Holdings sold for $77.98 per share Thursday. The DCF Calculator gives HCA Holdings a fair value of $61.86.

Halvorsen's other new acquisitions in the second quarter were GW Pharmaceuticals (GWPH), NRG Energy (NRG), Centene (CNC), Santander Consumer USA Holdings (SC) and Cloud Peak Energy (CLD).

Disclosure: I do not own any stocks mentioned in this article.

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This article first appeared on GuruFocus.