Stock market analyst and mutual fund owner John Hussman (Trades, Portfolio) made his reputation by predicting the Great Recession of 2008-2009. In the second quarter of 2015, he shook up his Top 10 holdings by volume.
Hussman reduced his stake in Barrick Gold Corp (ABX) by one-third, but it remained the largest stake by volume in his portfolio. Hussman sold 750,000 shares of his 2,250,000-share stake in Toronto-based Barrick, the largest gold mining company in the world, for an average price of $12.19 per share. The sale had a -0.86% impact on his portfolio.
Barrick has a market cap of $8.2 billion and an enterprise value of $21.68 billion. It has a Price/Book of 0.9 and a Price/Sales of 0.8. First Eagle Investment (Trades, Portfolio), Jim Simons (Trades, Portfolio), Ray Dalio (Trades, Portfolio), John Burbank (Trades, Portfolio), John Rogers (Trades, Portfolio), John Buckingham (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio) and David Dreman (Trades, Portfolio) have shares of Barrick in their portfolios.
Barrick announced plans this week to sell half of its Chile mine in order to settle part of its $3 billion debt to the United States.
Hussman also reduced his third-largest stake by volume, Newmont Mining Corp (NEM), a Colorado-based gold producer with mines in Nevada, Indonesia, Australia, New Zealand, Ghana and Peru, by nearly 28%, selling 300,000 shares for an average price of $25 per share. The transaction had a -0.68% impact on his portfolio.
Newmont has a market cap of $9.12 billion and an enterprise value of $15.22 billion. It has a P/E of 17.9, a Price/Book of 0.8 and a Price/Sales of 1.1. Brian Rogers (Trades, Portfolio), First Eagle Investment (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), Richard Snow (Trades, Portfolio), Jim Simons (Trades, Portfolio), Ray Dalio (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), John Buckingham (Trades, Portfolio), David Dreman (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio) and Meridian Funds (Trades, Portfolio) have shares of Newmont in their portfolios.
Hussman sold part of his seventh-largest stake, Cisco Systems Inc (CSCO), a San Jose, California-based technology company, selling 51,000 shares for an average price of $28.68 per share. That sale had a -0.15% impact on his portfolio.
Cisco Systems has a market cap of $144.54 billion and an enterprise value of $111.7 billion. It has a P/E of 16.7, a Price/Book of 2.5 and a Price/Sales of 3.0. Donald Yacktman (Trades, Portfolio), Dodge & Cox, PRIMECAP Management (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), Yacktman Fund (Trades, Portfolio), Ken Fisher (Trades, Portfolio), Yacktman Focused Fund (Trades, Portfolio), First Pacific Advisors (Trades, Portfolio), Steven Romick (Trades, Portfolio), Tweedy Browne (Trades, Portfolio), Brian Rogers (Trades, Portfolio), Diamond Hill Capital (Trades, Portfolio), NWQ Managers (Trades, Portfolio), Richard Pzena (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Jim Simons (Trades, Portfolio), Tweedy Browne (Trades, Portfolio) Global Value, Joel Greenblatt (Trades, Portfolio), Caxton Associates (Trades, Portfolio), James Barrow (Trades, Portfolio), Manning & Napier Advisors, Inc, Chuck Royce (Trades, Portfolio), Ray Dalio (Trades, Portfolio), Charles Brandes (Trades, Portfolio), John Buckingham (Trades, Portfolio), Robert Olstein (Trades, Portfolio), Signature Select Canadian Fund (Trades, Portfolio), Louis Moore Bacon (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), Mark Hillman (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), David Dreman (Trades, Portfolio), Murray Stahl (Trades, Portfolio), Jeff Auxier (Trades, Portfolio), Meridian Funds (Trades, Portfolio), Bill Frels (Trades, Portfolio), Tom Gayner (Trades, Portfolio), RS Investment Management (Trades, Portfolio), Frank Sands (Trades, Portfolio), Richard Snow (Trades, Portfolio), Lee Ainslie (Trades, Portfolio) and First Eagle Investment (Trades, Portfolio) have shares of Cisco in their portfolios.
Hussman reduced his ninth-largest holding, Goldcorp Inc (GG), a Vancouver-based gold producer, by 75,000 shares. Hussman sold the shares for an average price of $18.23 per share. The deal had a -0.14% impact on his portfolio.
Goldcorp has a market cap of $11.01 billion and an enterprise value of $15.05 billion. It has a Price/Book of 0.7 and a Price/Sales of 3.0. First Eagle Investment (Trades, Portfolio), Ray Dalio (Trades, Portfolio), Steven Cohen (Trades, Portfolio), Columbia Wanger (Trades, Portfolio) and Mario Gabelli (Trades, Portfolio) have shares of Goldcorp in their portfolios.
Other stakes that Hussman reduced in the second quarter included Mead Johnson Nutrition Co (MJN), Intel Corp (INTC), Corning Inc (GLW) and PepsiCo Inc (PEP).
Hussman increased his second-largest stake, Infosys Ltd (INFY) by more than 80%, acquiring 410,000 shares in the India-based IT services and consulting company for an average price of $16.24 per share. The transaction had a 0.75% impact on his portfolio.
Infosys has a market cap of $38.65 billion and an enterprise value of $31.07 billion. It has a P/E of 19.6, a Price/Book of 4.6 and a Price/Sales of 4.4. Ken Fisher (Trades, Portfolio), Stanley Druckenmiller (Trades, Portfolio), Sarah Ketterer (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), Jim Simons (Trades, Portfolio), Richard Pzena (Trades, Portfolio), Bernard Horn (Trades, Portfolio) and David Dreman (Trades, Portfolio) have shares of Infosys in their portfolios.
Hussman also added to the fourth-largest stake in his portfolio, Brocade Communications Systems Inc (BRCD), a San Jose, California-based technology company specializing in data and storage networking products. Hussman bought 100,000 shares for an average price of $12.13 per share. The deal had a 0.14% impact on his portfolio.
Brocade has a market cap of $4.27 billion and an enterprise value of $3.79 billion. It has a P/E of 13.7, a Price/Book of 1.8 and a Price/Sales of 2.0. Joel Greenblatt (Trades, Portfolio), Chuck Royce (Trades, Portfolio), Jim Simons (Trades, Portfolio), Meridian Funds (Trades, Portfolio), PRIMECAP Management (Trades, Portfolio), John Buckingham (Trades, Portfolio), David Dreman (Trades, Portfolio), Ken Fisher (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio) and Ray Dalio (Trades, Portfolio) have shares of Brocade in their portfolios.
Hussman raised his fifth-largest stake, Staples Inc (SPLS), a Massachusetts-based office supply chain store, by 209,000 shares. Hussman acquired the shares for an average price of $16.28 per share. The deal had a 0.37% impact on his portfolio.
Staples has a market cap of $9.37 billion and an enterprise value of $9.71 billion. It has a P/E of 96.4, a Price/Book of 1.8 and a Price/Sales of 0.4. Richard Pzena (Trades, Portfolio), Brian Rogers (Trades, Portfolio), Jim Simons (Trades, Portfolio), HOTCHKIS & WILEY, Steven Cohen (Trades, Portfolio), Donald Yacktman (Trades, Portfolio), Diamond Hill Capital (Trades, Portfolio), Yacktman Fund (Trades, Portfolio), John Buckingham (Trades, Portfolio), CI Can Am Small Cap (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), David Dreman (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio) and John Burbank (Trades, Portfolio) have shares of Staples in their portfolios.
Hussman more than doubled his sixth-largest stake, acquiring 299,000 shares of American Eagle Outfitters (AEO), a clothing and accessories retailer based in Pittsburgh, for an average price of $16.82 per share. The transaction had a 0.59% impact on Hussman's portfolio.
American Eagle Outfitters has a market cap of $3.47 billion and an enterprise value of $3.11 billion. It has a P/E of 32.2, a Price/Book of 3.0 and a Price/Sales of 1.1. Chuck Royce (Trades, Portfolio), Steven Cohen (Trades, Portfolio), Richard Snow (Trades, Portfolio), John Buckingham (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), Murray Stahl (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), Ray Dalio (Trades, Portfolio) and John Keeley (Trades, Portfolio) have shares of American Eagle Outfitters in their portfolios.
The other stakes in Hussman's 10 largest - Cirrus Logic Inc (CRUS) and OmniVision Technologies Inc (OVTI) - were untouched in the second quarter.
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