Wells Fargo & Co (WFC), Capital One Financial Corp. (COF) and Goldman Sachs Group Inc (GS): Horseman Capital Management Ltd’s Top 3 Finance Picks
Horseman Capital Management Ltd, whose portfolio is predominantly Finance, has made is 13F filing for the second quarter 2015. The fund reported that the value of its equity portfolio rose to $388.8 million at the end of the latest quarter, from $321.6 million at the end of the previous quarter.
Horseman Capital Management Ltd took the opportunity in the second quarter to remake its portfolio mix, launching fresh positions in some nine stocks and selling out of three other stocks. To complete the reorganization of its portfolio, the fund increased exposure to some 11 stocks and lowered stake in one other stock.
Largest buys: Capital One Financial Corp. (NYSE:COF), Goldman Sachs Group Inc (NYSE:GS) and Wells Fargo & Co (NYSE:WFC) are some of the names in which the fund acquired most shares during the second quarter.
Largest sells: Horseman Capital Management Ltd sold most shares in BB&T Corporation (NYSE:BBT), Google Inc (NASDAQ:GOOG) and Baidu Inc (ADR) (NASDAQ:BIDU) in the second quarter.
Here is a brief look at Horseman Capital Management Ltd’s best Finance picks in the second quarter and how the fund traded them: Wells Fargo & Co (NYSE:WFC), Capital One Financial Corp. (NYSE:COF) and Goldman Sachs Group Inc (NYSE:GS).
These stocks also happen to be the fund’s Top 3 equity picks overall.
Best finance stocks
Stake in Wells Fargo (WFC) increased
Horseman Capital Management Ltd significantly raised its stake in Wells Fargo & Co (NYSE:WFC), ending the second quarter with more than 1 million shares in the stock. The previous stake was 708,500 shares valued at $38.5 million. The new position is valued at $57.6 million.
Horseman increases exposure to Capital One Financial (COF)
Horseman Capital Management Ltd finished the second quarter with 636,200 shares in Capital One Financial Corp. (NYSE:COF), a stake worth about $56 million. At the end of the previous quarter, the fund owned 416,100 shares in the company for a dollar value of $32.8 million.
Horseman takes up more shares in Goldman Sachs (GS)
The position in Goldman Sachs Group Inc (NYSE:GS) stood at 241,500 shares at the end of the second quarter, having risen from 152,000 shares at the end of the first quarter. The new stake is valued at $50.4 million, up from $28.8 million at the end of first quarter.
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