John Hussman (Trades, Portfolio) is the president and principal shareholder of Hussman Strategic Advisors, the investment advisory firm that manages the Hussman Funds. The guru’s largest second quarter sales are as follows:
The guru reduced his stake in Newmont Mining Corp. (NEM) by 51.35%, with an impact of -1.67% on the portfolio.
The company is engaged in the production and exploration of gold and copper. It is engaged in the production of copper mainly through its Batu Hijau operation in Indonesia and Boddington operation in Australia. Second quarter revenue grew 7% from the same quarter of a year before and adjusted net income had a 76% increase. The company reported a 16% increase for adjusted EBITDA.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with ROE of 0.35% and ROA of 0.16%, which are outperforming 76% of the companies in the Global Gold industry. Financial strength has a rating of 5 out of 10, with a cash to debt ratio of 0.53 that is far below the industry median of 30.25.
The largest shareholder among the gurus is Mario Gabelli (Trades, Portfolio) with 0.28% of outstanding shares, followed by First Eagle Investment (Trades, Portfolio) with 0.27%, John Burbank (Trades, Portfolio) with 0.26%, Pioneer Investments (Trades, Portfolio) with 0.13% and Jim Simons (Trades, Portfolio) with 0.09%.
The guru almost closed his stake in Xilinx Inc. (XLNX), reducing it by 99.17%, which had an impact of -1.57% on the portfolio.
The company designs, develops and markets programmable platforms, including integrated circuits, software design tools and predefined system functions delivered as intellectual property cores. First quarter net revenues grew 5% year over year and 1% quarter-over-quarter. The company reported 4% year-over-year increase for operating income.
GuruFocus gives the stock a profitability and growth rating of 5 out of 10 with ROE of 21.78% and ROA of 11.58%, which are outperforming 87% of the companies in the Global Semiconductors industry. Financial strength has a rating of 7 out of 10, with a cash to debt ratio of 2.22 that is above the industry median of 1.67.
First Eagle Investment (Trades, Portfolio) is the largest shareholder of the company among the gurus, with 4.79% of outstanding shares, followed by Jim Simons (Trades, Portfolio) with 0.98%, Charles Brandes (Trades, Portfolio) with 0.78% and Joel Greenblatt (Trades, Portfolio) with 0.19%.
The investor closed his stake in The Kroger Co. (KR) with an impact of -1.52% on the portfolio.
The company operates retail food and drug stores, multi-department stores, jewelry stores and convenience stores throughout the United States. It also manufactures and processes some of the food for sale in its supermarkets. During the first quarter, it achieved its 50th consecutive quarter of positive identical supermarket sales growth, excluding fuel. It reported 4.7% increase for its total sales.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROE of 34.01% and ROA of 6.53%, which are outperforming 54% of the companies in the Global Grocery Stores industry. Financial strength has a rating of 6 out of 10, with a cash to debt ratio of 0.03 that is below the industry median of 0.50.
The largest shareholder among the gurus is Spiros Segalas (Trades, Portfolio) with 1.07% of outstanding shares, followed by Jim Simons (Trades, Portfolio) with 0.22%, Jeff Auxier (Trades, Portfolio) with 0.04%, Ken Fisher (Trades, Portfolio) with 0.04% and Caxton Associates (Trades, Portfolio) with 0.03%.
The guru reduced his stake in Barrick Gold Corp. (ABX) by 45.71%, with an impact of -1.44% on the portfolio.
The company produces and sells gold and copper. Its business activities also include exploration and mine development. It holds interests in oil and gas properties located in Canada. During the second quarter, net earnings of $138 million (12 cents per share) and adjusted net earnings of $158 million (14 cents per share) were reported. Second quarter EBITDA was $881 million, revenues were $2.01 billion and operating cash flow was $527 million. The company generated $274 million in free cash flow in the second quarter, marking five consecutive quarters of positive free cash flow.
GuruFocus gives the stock a profitability and growth rating of 5 out of 10 with ROE of -36.68% and ROA of -10.39%, which are underperforming 71% of the companies in the Global Gold industry. Financial strength has a rating of 4 out of 10, with a cash to debt ratio of 0.27 that is below the industry median of 30.25.
First Eagle Investment (Trades, Portfolio) is the largest shareholder of the company among the gurus, with 3.22% of outstanding shares, followed by Jim Simons (Trades, Portfolio) with 1.5%, Caxton Associates (Trades, Portfolio) with 0.65% and Ray Dalio (Trades, Portfolio) with 0.18%.
The investor reduced his stake in Global Payments Inc. (GPN) by 55.56%, with an impact of -1.08% on the portfolio.
It is a provider of payment solutions for merchants, value-added resellers, enterprise software providers, financial institutions, government agencies, multi-national corporations and independent sales organizations. Fourth quarter GAAP revenues were $747.1 million, compared to $706.5 million in the same quarter of fiscal 2015. Diluted earnings per share were 26 cents compared to 49 cents in the prior year. The operating margin was 7.5% compared to 14.7% in the fourth quarter of fiscal 2015.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROE of 22.88% and ROA of 4.27%, which are outperforming 55% of the companies in the Global Business Services industry. Financial strength has a rating of 5 out of 10, with a cash to debt ratio of 0.21 that is below the industry median of 1.44.
The largest shareholder among the gurus is Columbia Wanger (Trades, Portfolio) with 0.4% of outstanding shares, followed by Jim Simons (Trades, Portfolio) with 0.38%, John Hussman (Trades, Portfolio) with 0.07% and RS Investment Management (Trades, Portfolio) with 0.05%.
The investor reduced his stake in PepsiCo Inc. (PEP) by 59.56%, with an impact of -1.02% on the portfolio.
PepsiCo is a food, snack and beverage company. It manufactures, markets, distributes and sells convenient and enjoyable beverages, foods and snacks, serving customers and consumers in more than 200 countries and territories. Second quarter net revenue declined 3.3% and gross margin expanded 115 basis points. EPS of $1.38 had a 4% increase from the prior year.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROE of 39.86% and ROA of 7.31%, which are outperforming 63% of the companies in the Global Beverages - Soft Drinks industry. Financial strength has a rating of 5 out of 10, with a cash to debt ratio of 0.38 that is below industry median of 0.77.
Donald Yacktman (Trades, Portfolio) is the largest shareholder of the company among the gurus, with 0.74% of outstanding shares, followed by Yacktman Fund (Trades, Portfolio) with 0.39%, Ken Fisher (Trades, Portfolio) with 0.38%, Yacktman Focused Fund (Trades, Portfolio) with 0.22% and T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.16%.
The guru reduced his stake in Phillips 66Â (PSX) by 62.23%, with an impact of -0.98% on the portfolio.
Phillips 66 is a downstream energy company. Its segment includes Refining and Marketing (R&M), Midstream and Chemicals businesses. Its Chemicals business is conducted through its 50% interest in Chevron Phillips Chemical Company LLC. Comparable sales grew 5% during the second quarter and adjusted EBITA amounted to  544 million euros($612.3 million), or 9.3% of sales, compared to 8.4% of sales in the same quarter of 2015.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with ROE of 13.59% and ROA of 6.31%, which are outperforming 57% of the companies in the Global Oil & Gas Refining & Marketing industry. Financial strength has a rating of 6 out of 10, with a cash to debt ratio of 0.25 that is below industry median of 0.49.
The largest shareholder among the gurus is Warren Buffett (Trades, Portfolio) with 15.22% of outstanding shares, followed by Barrow, Hanley, Mewhinney & Strauss with 2.79%, First Eagle Investment (Trades, Portfolio) with 0.49%, Pioneer Investments (Trades, Portfolio) with 0.12% and NWQ Managers (Trades, Portfolio) with 0.1%.
Disclosure: I do not own any shares of any stocks mentioned in this article.
Start a free 7-day trial of Premium Membership to GuruFocus.
