Billionaire Andreas Halvorsen’s Viking Global Portfolio: 5 New Stock Picks

2. XP Inc. (NASDAQ:XP)

Number of Hedge Fund Holders: 31

XP Inc. (NASDAQ:XP) is a Brazilian company that offers financial products and services. XP Inc. (NASDAQ:XP) is a new arrival in billionaire Andreas Halvorsen’s Q1 portfolio. His hedge fund purchased 9.4 million shares of the company, worth $284.2 million. 

On May 11, XP Inc. (NASDAQ:XP) announced a share repurchase program under which the company may buy back up to R$1.0 billion of its outstanding Class A common shares in the open market, beginning on May 12, 2022 and continuing until either the completion of the repurchase or May 12 2023. 

Citi analyst Gabriel Gusan on May 9 upgraded XP Inc. (NASDAQ:XP) to Buy from Neutral with a price target of $26, down from $31, observing indications that its key performance indicators may have bottomed and what he calls an “appealing valuation” with shares down 53% over the last year. 

According to Insider Monkey’s Q1 data, 31 hedge funds were bullish on XP Inc. (NASDAQ:XP), compared to 33 funds in the earlier quarter. Henry Ellenbogen’s Durable Capital Partners is a significant shareholder of the company, with 4.50 million shares worth $135.58 million. 

Here is what Harding Loevner Emerging Markets Equity Fund has to say about XP Inc. (NASDAQ:XP) in its Q4 2021 investor letter:

“Shares of another new Brazilian holding, XP, the country’s premier online investment platform, also sold off as tough economic conditions outweighed management’s optimism about prospective growth from new business lines in pensions, credit cards, and loans. Performance was helped by stock selection and our underweight in China.”