market folly

Andreas Halvorsen's hedge fund firm Viking Global filed a 13G with the SEC on shares of Cemex (CX) recently.  Per the filing, Viking has revealed a 5.3% ownership stake in CX with 57,375,728 shares.

This marks a 29% increase in the amount of shares they own.  They owned just over 44.4 million Cemex shares at the end of the first quarter.  The latest SEC filing was required due to portfolio activity on May 21st.

In other portfolio activity from this hedge fund, we recently highlighted that Viking Global increased its Intuitive Surgical position.

Per Google Finance, Cemex is "a Mexico-based company principally engaged, through its subsidiaries, in the cement manufacturing. The Company produces, distributes and sells cement, clinker, ready-mix concrete, aggregates and related building materials in more than 50 countries worldwide. The Company’s main production facilities are located in Mexico, the United States, Spain, Egypt, Germany, Colombia, the Philippines, the Dominican Republic, the United Kingdom, Croatia, Panama, Latvia, Puerto Rico, Thailand, Costa Rica and Nicaragua."

For more on this manager, we posted up a rare interview with Andreas Halvorsen on investment process.