IVA International Increases Stake in HSBC Holdings

Fund raises stakes in Antofagasta, Samsung Electronics in 3rd quarter

Author's Avatar
Dec 14, 2015
Article's Main Image

In its pursuit of long-term growth, IVA International Fund (Trades, Portfolio) has accumulated holdings from around the world, and the third quarter was no exception. Among its largest third-quarter transactions, IVA traded in companies based in places from London to South Korea and Hong Kong.

IVA International’s most noteworthy third-quarter transaction was its 3,862,348-share increase in its stake in HSBC Holdings PLC (LSE:HSBA, Financial), a London-based banking and financial services company. IVA raised its stake in HSBC Holdings by more than 475%. The Fund paid an average price of £5.42 (about $8.25 in U.S. currency) per share in a deal that had a 1.52% impact on its portfolio.

HSBC Holdings has a market cap of $97.19 billion and an enterprise value of $20.65 billion. It has a P/E of 10.1, a forward P/E of 9.0, a P/B of 0.8 and a P/S of 2.0. GuruFocus has given HSBC Holdings a Financial Strength rating of 6/10 and a Profitability and Growth rating of 5/10.

Causeway International Value (Trades, Portfolio), Tweedy Browne (Trades, Portfolio) Global Value and Charles de Vaulx (Trades, Portfolio) have shares of HSBC Holdings in their portfolios.

02May2017184815.png

HSBC Holdings sold for £4.94 (approximately $7.52 in American money) per share Monday.

IVA International increased its position in Antofagasta PLC (LSE:ANTO, Financial), a mining company with offices in London and Santiago, Chile, by more than 80%. IVA bought 2,067,771 shares for an average price of £5.93 (roughly $9.03 in U.S. dollars) per share. The transaction had a 0.82% impact on the Fund’s portfolio.

Antofagasta has a market cap of $4.23 billion and an enterprise value of $4.66 billion. It has a P/E of 14.4, a forward P/E of 15.6, a P/B of 1.0 and a P/S of 1.3. GuruFocus has given Antofagasta a Financial Strength rating of 8/10 and a Profitability and Growth rating of 7/10.

Tweedy Browne (Trades, Portfolio) Global Value and Charles de Vaulx (Trades, Portfolio) have shares of Antofagasta in their portfolios.

02May2017184816.png

On Monday Antofagasta sold for £4.12 (about $6.27 in American currency) per share.

IVA raised its stake in Samsung Electronics Co. Ltd. (XKRX:005930, Financial), a Suwon, South Korea-based electronics company, by more than 26%. IVA purchased 15,926 shares for an average price of â‚©1171670 (approximately $969.09 in U.S. money) per share. The deal had a 0.8% impact on the Fund’s portfolio.

Samsung Electronics has a market cap of $166.04 trillion and an enterprise value of $115.65 trillion. It has a P/E of 10.6, a forward P/E of 1.9, a P/B of 1.0 and a P/S of 0.8. GuruFocus has given Samsung Electronics a Financial Strength rating of 8/10 and a Profitability and Growth rating of 8/10.

David Herro (Trades, Portfolio), Charles de Vaulx (Trades, Portfolio), Matthews Pacific Tiger Fund (Trades, Portfolio), Causeway International Value (Trades, Portfolio) and Bernard Horn (Trades, Portfolio) have shares of Samsung Electronics in their portfolios.

02May2017184816.png

Samsung Electronics sold for â‚©1261000 (roughly $1,042.98 in American dollars) per share Monday.

IVA trimmed its stake in Kangwon Land Inc. (XKRX:035250, Financial), a South Korean casino and resort development and operation company, by more than 58%, selling 645,080 shares for an average price of â‚©41427.3 (about $34.26 in American currency) per share. The transaction had a -1.02% impact on IVA’s portfolio.

Kangwon Land has a market cap of $7.78 trillion and an enterprise value of $6.29 trillion. It has a P/E of 19.7, a forward P/E of 17.8, a P/B of 2.7 and a P/S of 4.9. GuruFocus has given Kangwon Land a Financial Strength rating of 8/10 and a Profitability and Growth rating of 8/10.

Charles de Vaulx (Trades, Portfolio) has shares of Kangwon Land in his portfolio.

02May2017184817.png

On Monday Kangwon Land sold for â‚©38900 (approximately $32.17 in U.S. money) per share.

The Fund reduced its stake in San-A Co. Ltd. (TSE:2659, Financial), an Osaka, Japan-based exporter and importer of vehicles, household appliances and office equipment, by more than 82%. The Fund sold 419,900 shares for an average price of ¥5651.53 (roughly $46.68 in U.S. dollars) per share. The transaction had a -0.89% impact on the Fund’s portfolio.

San-A has a market cap of $165.25 billion and an enterprise value of $129.13 billion. It has a P/E of 20.4, a P/B of 1.9 and a P/S of 1.0. GuruFocus has given San-A a Financial Strength rating of 7/10 and a Profitability and Growth rating of 6/10.

Matthews Japan Fund (Trades, Portfolio) has shares of San-A in its portfolio.

02May2017184817.png

San-A sold for ¥5110 (about $42.21 in American currency) per share Monday.

IVA cut its stake in Henderson Land Development Co. Ltd. (HKSE:00012), a Hong Kong-based property company, by nearly 51%. IVA sold 2,664,485 shares for an average price of HK$49.55 (approximately $6.39 in American money) per share. The deal had a -0.87% impact on the Fund’s portfolio.

Henderson Land Development has a market cap of $153.95 billion and an enterprise value of $188.35 billion. It has a P/E of 9.1, a forward P/E of 12.6, a P/B of 0.6 and a P/S of 6.6. GuruFocus has given Henderson Land Development a Financial Strength rating of 7/10 and a Profitability and Growth rating of 7/10.

Charles de Vaulx (Trades, Portfolio) has shares of Henderson Land Development in his portfolio.

02May2017184817.png

On Monday Henderson Land Development sold for HK$46.6 (roughly $6.01 in U.S. currency) per share.

The Fund reduced its stake in Vinci SA (XPAR:DG), a French construction company, by more than 51%. IVA sold 222,590 shares for an average price of €56.75 (about $62.35 in U.S. dollars) per share. The deal had a -0.61% impact on the Fund’s portfolio.

Vinci has a market cap of $32.03 billion and an enterprise value of $46.21 billion. It has a P/E of 13.0, a forward P/E of 14.7, a P/B of 2.2 and a P/S of 0.8. GuruFocus has given Vinci a Financial Strength rating of 6/10 and a Profitability and Growth rating of 7/10.

Charles de Vaulx (Trades, Portfolio) has shares of Vinci in his portfolio.

02May2017184818.png

Vinci sold for €57.63 (approximately $63.32 in American money) per share Monday.

The Fund reduced its stake in Net 1 Ueps Technologies Inc. (UEPS), a Johannesburg-based provider of payment solutions and transaction processing services, by more than 24%. IVA sold 682,158 shares for an average price of $19 per share. The transaction had a -0.59% impact on the Fund’s portfolio.

Net 1 Ueps Technologies has a market cap of $651.62 million and an enterprise value of $584.09 million. It has a P/E of 6.8, a forward P/E of 10.6, a P/B of 1.4 and a P/S of 1.0. GuruFocus has given Net 1 Ueps Technologies a Financial Strength rating of 4/10 and a Profitability and Growth rating of 6/10.

Charles de Vaulx (Trades, Portfolio), Jim Simons (Trades, Portfolio), RS Investment Management (Trades, Portfolio), Chuck Royce (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio) and Jeremy Grantham (Trades, Portfolio) have shares of Net 1 Ueps Technologies in their portfolios.

02May2017184818.png

On Monday Net 1 Ueps Technologies sold for $13.79 per share.

IVA sold its 553,036-share stake in Carrefour (XPAR:CA), a French retailer, for an average price of €31.7 (about $34.3 in U.S. currency) per share. The divestiture had a -0.84% impact on IVA’s portfolio.

Carrefour has a market cap of $18.61 billion and an enterprise value of $29.98 billion. It has a P/E of 14.8, a forward P/E of 14.3, a P/B of 2.0 and a P/S of 0.2. GuruFocus has given Carrefour a Financial Strength rating of 6/10 and a Profitability and Growth rating of 5/10.

Bestinfond (Trades, Portfolio) has shares of Carrefour in its portfolio.

02May2017184819.png

Carrefour sold for €26.16 (roughly $28.74 in American money) per share Monday.

To view the portfolios of more gurus, visit the List of Gurus page. Not a premium member of GuruFocus? Try it free for 7 days.