We recently compiled a list of the Billionaire Andreas Halvorsen’s Top 15 Long-Term Stock Picks. In this article, we are going to take a look at where BridgeBio Pharma, Inc. (NASDAQ:BBIO) stands against Andreas Halvorsen’s other long-term stock picks.
Andreas Halvorsen is a prominent Norwegian hedge fund manager and the co-founder of Viking Global, one of the most successful equity-focused hedge funds in the world. Known for his disciplined investment approach and ability to identify long-term opportunities, Halvorsen has built a reputation as a leader in the financial industry. Halvorsen was born in 1961 in Norway. He attended the Norwegian Naval Academy, where he developed a strong work ethic, leadership skills, and a disciplined mindset. After completing his military service, Halvorsen decided to pursue a career in finance. He enrolled at Williams College, a prestigious liberal arts institution in the United States, and graduated with a degree in economics. Halvorsen later attended the Stanford Graduate School of Business, earning his MBA in 1990.
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After graduating from Stanford, Halvorsen began his career at Morgan Stanley, where he worked in the investment banking division. He later joined Tiger Management, the legendary hedge fund founded by Julian Robertson. Halvorsen became one of Robertson’s top protégés, earning the title of a Tiger Cub. At Tiger Management, Halvorsen gained valuable experience analyzing global markets, identifying undervalued equities, and managing risk. This experience laid the foundation for his future success. In 1999, Halvorsen co-founded Viking Global Investors alongside two other Tiger alumni, David Ott and Brian Olson.
The firm, based in Greenwich, Connecticut, focuses on long/short equity strategies, aiming to generate returns through a combination of long-term investments in undervalued companies and short positions in overvalued ones. Viking Global quickly gained a reputation for its rigorous research, disciplined investment process, and focus on high-quality companies. Halvorsen’s leadership has been instrumental in the firm’s success. Viking Global manages approximately $27 billion in 13F securities as of the end of the third quarter of 2023. It has delivered annualized returns exceeding 10% since its inception, consistently outperforming benchmarks.
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For this article, we selected stocks by combing through the 13F portfolio of Viking Global at the end of the third quarter of 2024. Only the companies that have been in the 13F portfolio of the fund consistently for the past three years were selected. These stocks are also popular among other hedge funds. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
A team of scientists in white lab coats reviewing lab results in a research facility.
BridgeBio Pharma, Inc. (NASDAQ:BBIO)
Number of Hedge Fund Holders: 46
Viking Global’s Stake: $639.6 million
BridgeBio Pharma, Inc. (NASDAQ:BBIO) is a biotechnology company designing transformative medicines for patients with genetic diseases and cancers with clear genetic drivers. The following reasons highlight the company’s strength as an investment target. The first thing that makes Bridgebio Pharma a worthwhile investment is its exceptional financial growth in the third quarter of 2024. For instance, the company reported to have ended the quarter with $406 million in cash, cash equivalents, and short-term restricted cash. It anticipates receiving a $500 million milestone payment under a royalty funding agreement upon Food and Drug Association (FDA) approval of acoramidis, as well as $105 million in aggregate regulatory milestone payments upon approval of acoramidis in European and Japanese territories. Moreover, the company has secured up to $1.25 billion of capital from Blue Owl and CPP investments to accelerate the development and launch of genetic medicines.
Overall BBIO ranks 6th on our list of Billionaire Andreas Halvorsen’s top long-term stock picks. While we acknowledge the potential of BBIO as an investment, our conviction lies in the belief that some stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a stock that is more promising than BBIO but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
