October 26, 2021

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Ophthalmologist and investor Ole Morten Halvorsen lost 840 million shares last year

Ophthalmologist and investor Ole Morten Halvorsen lost 840 million shares last year

On a daily basis, Ole Morten Halvorsen is the chief medical officer in the Ophthalmology Department at Ullevål University Hospital, in addition to working with vision surgery in a private practice.

In addition, he is one of the largest private investors on the Oslo Stock Exchange.

In this role, Halvorsen made quite a splash last year, with earnings before tax of -844 million kroner. Presents the annual accounts of his wholly owned investment company OM Holding.

Of these losses, about 20 million NOK were realized, while the rest is mainly a change in the valuation of the portfolio.

The company’s equity was valued at NOK 645 million at the end of last year, more than half compared to 2019 when it was NOK 1.5 billion.

Ole Morten Halvorsen does not want to comment on the outcome for DN.

Three billion shares

Halvorsen has an extensive portfolio of stocks. According to a shareholder poll, these are his biggest positions right now:

  • Storebrand (1.63 percent) – worth 621 million.
  • Vaccine body (2.84 percent) – 575 million.
  • Austevoll Seafood (2.25%) – worth 503 million.
  • DNB (0.15%) – worth 453 million.

According to Holdings, Halvorsen’s total equity values ​​exceed NOK 3 billion.

Halvorsen’s largest shareholding at the beginning of 2019 was in Grieg Seafood, where he owned more than six million shares. The value of this amounted to nearly 900 million Norwegian kroner, but it fell sharply during the Corona crisis. At the end of 2019, the value of the shares halved.

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Halvorsen disposed of a few million shares of Grieg in March and April of this year, according to Holdings, but has since recovered nothing. Today he has 4.7 million shares in the fish farming company, worth 400 million.

Cut debt in half

Halvorsen has distinguished itself as one of the most active investors in the stock exchange, borrowing large sums of money to invest in the stock market, often called leverage. OM Holding’s calculations show that it nearly halved the company’s debt, from NOK 1.5 billion to NOK 846 million.

The total investor leverage framework is NOK 1.7 billion, according to calculations. Credit is secured in a Halvorsen securities account.

Halvorsen is also known for lending stocks to shorter investors, that is, investors who bet on lower prices. This work continued into 2020, albeit somewhat limited in scope. The value of its shares lent was 135 million last year, down from 185 million in 2019. (Terms)Copyright Dagens Næringsliv AS and/or our suppliers. We want you to share our cases using a link that leads directly to our pages. All or part of the Content may not be copied or otherwise used with written permission or as permitted by law. For additional terms look here.