Daniel Benton’s Andor Capital Management has filed its 13F for the reporting period of March 31, with the investment manager boasting an equity portfolio of $1.01 billion as of the reporting date. One of the major moves in the equity portfolio of the fund manager is that Twitter Inc (NYSE:TWTR) has dethroned Apple Inc (NASDAQ:AAPL) as the biggest tech pick of Benton, who sold off most of his Apple holding. Tesla Motors Inc (NASDAQ:TSLA) and Facebook Inc (NASDAQ:FB) also leapt over Apple in Andor Capital’s portfolio, despite the holding in the latter also being slashed by Benton. Andor Capital Management has a concentrated portfolio with two-thirds of it devoted to tech, while consumer discretionary stocks make up the bulk of the remaining one-third.
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With 4.00 million shares valued at $200.32 million, Twitter Inc. (NASDAQ:TWTR) is now the top tech stock pick of Benton. The fund manager has added an additional 1.50 million shares of the micro-blogging platform to his portfolio and it accounts for 19.89% of the portfolio’s value now, more than tripling his exposure to the stock. Twitter has faced industry criticism for its slow user growth and limited revenue streams but the social network is all set to expand its reach with a strategic partnership with Google Inc. (NASDAQ:GOOGL). According to the recent deal between the two tech giants, Google will display relevant tweets on its search result pages and the user will be redirected to Twitter upon clicking the link. John Thaler’s JAT Capital Management and Daniel Och’s OZ Management also hold major stakes in Twitter Inc. (NASDAQ:TWTR).
The electric carmaker Tesla Inc (NYSE:TSLA) is the second-largest tech stock holding of Andor Capital Management, which owns 1.00 million shares of the automobile manufacturer, with a value of $188.77 million. The investment manager trimmed its stake in the car company by 20% during the first quarter. Shares of the high-end luxury carmaker have grown 10.53% this year, pushing its market cap back above $30 billion at $30.89 billion. Tesla is known for using an unorthodox retail market approach, including selling its cars online and bypassing dealerships with its own retail showrooms. The electric automobile company is planning to roll out its mobile store units that can easily be set-up at popular summer locations. If done in a proper manner, this approach could help Tesla Inc (NYSE:TSLA) unlock yet another novel retailing model. Some of the major stockholders of the company include Ken Griffin‘s Citadel Investment Group, Masters Capital Management, and Arbiter Partners Capital Management.
