Horseman Capital Management’s Biggest Bets

John Horseman’s Horseman Capital Management is also amongst those hedge funds that are obliged to disclose their equity holdings for the end of the second quarter. The fund revealed ownership of 26 long equity positions, worth more than $322 million. Over the quarter, Horseman acquired eight new stocks, sold out of five previous holdings, and added to 11 of its preexisting holdings. In this article we will take a look at its top three positions for the quarter in order to find out if any of then deserve further research and could be considered as potential investment options.

First off is Vipshop Holdings Ltd – ADR (NYSE:VIPS), a $12.35 billion Chinese online discount retailer that saw Horseman boost its stake by 8% over the second quarter of the year. The fund last declared ownership 270,563 shares, worth more than $50 million. This position accounts for more than 15% of Horseman’s equity portfolio’s total value.

Vipshop Holdings Ltd

Some other major funds are also betting on Vipshop Holdings Ltd – ADR (NYSE:VIPS). For instance, the largest hedge fund shareholder of record –a mongst those that we track -Tiger Global Management’s star hedge fund Tiger Global, managed by Feroz Dewan, upped its exposure to the company by 9% over the quarter, and now owns 2.42 million shares. Another fund with a big stake in Vipshop Holdings Ltd – ADR (NYSE:VIPS) is John Burbank’s Passport Capital, which last disclosed ownership of 1.59 million shares, following the disposal of 201,434 shares during the second quarter.

Mr. Horseman’s second largest stake is in The Bank of New York Mellon Corporation (NYSE:BK), a $44.6 billion global investment company. Between April 1 and June 30, the fund added 18,900 shares of The Bank of New York Mellon Corporation (NYSE:BK) to its holding, and now owns 894,200 shares of the company, worth more than $33.5 million.

Mario Gabelli’s GAMCO Investors and Warren Buffett’s Berkshire Hathaway can be also counted amongst the company’s investors. While GAMCO owns a $239 million stake, or 6.38 million shares, in The Bank of New York Mellon Corporation (NYSE:BK), Berkshire Hathaway owns almost $1 billion in stock, equal to 24.65 million shares. The largest hedge fund shareholder (amongst those that we track) is Mason Hawkins’ Southeastern Asset Management, with 34.54 million shares of The Bank of New York Mellon Corporation (NYSE:BK).

Last on this list is another company present in Mr. Buffett’s and Mr. Gabelli’s equity portfolios: Wells Fargo & Co (NYSE:WFCwhich is one of the biggest banks in the World. This $268 billion market cap diversified financial services company saw Mr. Horseman acquire 12,400 shares over the second quarter. His fund now owns 577,100 shares, worth roughly $30 million.

As most knowledgeable investors and finance aficionados already know, Wells Fargo & Co (NYSE:WFC) is Warren Buffett’s most valuable equity holding. The fund recently disclosed ownership of more than 463 million shares of the company, worth more than $24 billion. For his part, Mr. Gabelli, holds 4.44 million shares of Wells Fargo & Co (NYSE:WFC). Other major investors betting on this financial giant are Ken Fisher of Fisher Asset Management –with 18.5 million shares, and Tom Russo of Gardner Russo & Gardner – with 14.6 million shares.

Disclosure: Javier Hasse holds no position in any stocks or funds mentioned.

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