Horseman Capital Management Bets Big on Financial Sector This Quarter

#2 Bank of New York Mellon Corp (NYSE:BK)

– Shares Owned by Horseman Capital (as of December 31): 1.22 million

– Value of Holding (as of December 31): $50.15 Million

Horseman’s holding in Bank of New York Mellon Corp remained unchanged during the fourth quarter. The $38.21 billion company managed to beat the bottom-line estimates for the fourth quarter as its EPS of $0.68 was $0.04 above expectations. However, the revenue of $3.7 billion missed the estimates by $50 million. Shares of the bank holding company have fallen by 13.7% in the last 12 months. Nelson Peltz‘s Trian Partners held 30.94 million shares of Bank of New York Mellon Corp (NYSE:BK) at the end of the fourth quarter.

#1 Wells Fargo & Co (NYSE:WFC)

– Shares Owned by Horseman Capital (as of December 31): 1.07 million

– Value of Holding (as of December 31): $57.95 Million

The fund’s top position was also unchanged during the October-December period and amasses about 15.67% of the firm’s portfolio. The bank holding company recently revealed that it had an additional $25 billion exposure to the oil and gas industry on top of the $17 billion reported earlier. The additional amount comprises of unfunded commitments, including lines of credit that have been made available to energy company but still haven’t been utilized. Wells Fargo & Co (NYSE:WFC)’s stock price has dived down by about 14.5% in the last 52 weeks. Billionaire Ken Fisher’s Fisher Asset Management upped its stake in Wells Fargo & Co (NYSE:WFC) to about 18.99 million shares during the last three months of 2015.

Disclosure: None