Google Inc (GOOG) and Wells Fargo & Co (WFC) Among Horseman Capital Management’s Top Picks

The third-largest holding is a $25.84 million stake held by Horseman in Wells Fargo & Co (NYSE:WFC). The fund raised its exposure to the company during the September-December period, increasing the number of shares held to 569,200 shares, from 523,600 owned previously. The largest shareholder of Wells Fargo is the notorious Berkshire Hathaway, managed by Warren Buffett. Wells Fargo & Co (NYSE:WFC) is also the largest holding in the Berkshire’s equity portfolio, as at the end of September.

Of late, Wells Fargo & Co (NYSE:WFC) reported about coming to an agreement with the Federal National Mortgage Association (Fannie Mae), regarding the repurchase of loans sold to Fannie Mae before 2009. The $591 million agreement, was adjusted and settled in a one-time cash payment to Fannie Mae, worth $541 million, Wells Fargo said. The bank holding company accrued for the cost of the agreement at the end of September.

Horseman has also been bullish on Goldman Sachs Group Inc (NYSE:GS) during the fourth quarter. In its latest 13F, the fund reported holding 135,500 shares of the company, up from 124,600 shares owned previously. The value of the position advanced to $24.02 million, from $19.71 million at the end of September. The investment banking, securities and investment management firm, Goldman Sachs Group Inc (NYSE:GS), reported EPS worth $2.88 for the third quarter of last year, up by $0.03 over the year and above the average analyst estimates of $2.43. The company also raised its quarterly dividend during the previous quarter, by $0.05 to $0.55 per common share. 

And the last but not the least is Coach, Inc. (NYSE:COH), in which Horseman disclosed ownership of 417,000 shares, up from 387,000 shares owned at the end of the third quarter. The value of the holding amounted to $23.41 million at the end of December. Out of the funds we track, at the end of the third quarter, the largest stake in Coach, Inc. (NYSE:COH) was revealed by Lone Pine Capital, led by Stephen Mandel, which owned 6.48 million shares, followed by Jim Simons‘ Renaissance Technologies and Jeffrey Gates‘ Gates Capital Management, which held 1.65 million, and 1.34 million shares. All of the top shareholders of Coach, Inc. (NYSE:COH) have been bullish on the company, raising their holdings during the third quarter, so we should see if they had the same sentiment in the fourth quarter.  

Disclosure: none