Contrarius Investment Management Ltd Buys Gilead Sciences Inc, Teck Resources, Tegna Inc, Sells Apple Inc, Twitter Inc, Bitauto Holdings

• New Purchases: TGNA, FWONK, SAM, IBM, DIS, GES, KORS, SODA,
• Added Positions: GILD, TECK, ABX, KGC, DO, ARCH, VIAB, MYGN, BEN, FCX,
• Reduced Positions: AAPL, TWTR, BITA, ECA, RIG, NOV, VALEPR, JD, ESV, AIG,
• Sold Out: WDC, MOV, MU, ENDP, GPS, QCOM, SHLD,

For the details of Contrarius Investment Management Ltd's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Contrarius+Investment+Management+Ltd

1. Apple Inc (AAPL) - 1,147,984 shares, 10.59% of the total portfolio. Shares reduced by 20.38%
2. Vale SA (VALEPR) - 14,734,058 shares, 8.5% of the total portfolio. Shares reduced by 7.2%
3. Teck Resources Ltd (TECK) - 5,943,135 shares, 8.36% of the total portfolio. Shares added by 50.42%
4. New York Times Co (NYT) - 7,273,392 shares, 6.73% of the total portfolio. Shares reduced by 3.26%
5. National Oilwell Varco Inc (NOV) - 2,292,457 shares, 5.9% of the total portfolio. Shares reduced by 10%

Contrarius Investment Management Ltd initiated holdings in Tegna Inc. The purchase prices were between $21.27 and $26.41, with an estimated average price of $24.03. The stock is now traded at around $22.39. The impact to the portfolio due to this purchase was 2.55%. The holdings were 1,549,184 shares as of 2017-03-31.

Contrarius Investment Management Ltd initiated holdings in Liberty Formula One Group. The purchase prices were between $27.84 and $34.9, with an estimated average price of $31.92. The stock is now traded at around $31.50. The impact to the portfolio due to this purchase was 2.47%. The holdings were 1,125,907 shares as of 2017-03-31.

Contrarius Investment Management Ltd initiated holdings in Boston Beer Co Inc. The purchase prices were between $144.65 and $174.9, with an estimated average price of $156.51. The stock is now traded at around $139.90. The impact to the portfolio due to this purchase was 1.86%. The holdings were 199,724 shares as of 2017-03-31.

Contrarius Investment Management Ltd initiated holdings in International Business Machines Corp. The purchase prices were between $165.52 and $181.95, with an estimated average price of $175.39. The stock is now traded at around $151.19. The impact to the portfolio due to this purchase was 1.5%. The holdings were 134,422 shares as of 2017-03-31.

Contrarius Investment Management Ltd initiated holdings in Walt Disney Co. The purchase prices were between $106.08 and $113.39, with an estimated average price of $110.1. The stock is now traded at around $107.04. The impact to the portfolio due to this purchase was 0.61%. The holdings were 83,099 shares as of 2017-03-31.

Contrarius Investment Management Ltd initiated holdings in Guess? Inc. The purchase prices were between $10.66 and $13.66, with an estimated average price of $12.3. The stock is now traded at around $9.68. The impact to the portfolio due to this purchase was 0.47%. The holdings were 650,961 shares as of 2017-03-31.

Contrarius Investment Management Ltd added to the holdings in Gilead Sciences Inc by 2630.10%. The purchase prices were between $65.59 and $76.38, with an estimated average price of $70.32. The stock is now traded at around $64.53. The impact to the portfolio due to this purchase was 3.81%. The holdings were 904,865 shares as of 2017-03-31.

Contrarius Investment Management Ltd added to the holdings in Teck Resources Ltd by 50.42%. The purchase prices were between $19.52 and $26.25, with an estimated average price of $22.35. The stock is now traded at around $18.02. The impact to the portfolio due to this purchase was 2.8%. The holdings were 5,943,135 shares as of 2017-03-31.

Contrarius Investment Management Ltd added to the holdings in Barrick Gold Corp by 711.57%. The purchase prices were between $16.39 and $20.5, with an estimated average price of $18.45. The stock is now traded at around $16.61. The impact to the portfolio due to this purchase was 1.42%. The holdings were 1,332,019 shares as of 2017-03-31.

Contrarius Investment Management Ltd added to the holdings in Kinross Gold Corp by 63.81%. The purchase prices were between $3.18 and $4.19, with an estimated average price of $3.59. The stock is now traded at around $4.20. The impact to the portfolio due to this purchase was 1.37%. The holdings were 15,588,099 shares as of 2017-03-31.

Contrarius Investment Management Ltd added to the holdings in Diamond Offshore Drilling Inc by 29.48%. The purchase prices were between $14.7 and $19.49, with an estimated average price of $16.98. The stock is now traded at around $13.31. The impact to the portfolio due to this purchase was 0.81%. The holdings were 3,319,860 shares as of 2017-03-31.

Contrarius Investment Management Ltd added to the holdings in Arch Coal Inc by 40.85%. The purchase prices were between $64.65 and $76.09, with an estimated average price of $70.96. The stock is now traded at around $73.60. The impact to the portfolio due to this purchase was 0.75%. The holdings were 580,643 shares as of 2017-03-31.

Contrarius Investment Management Ltd sold out the holdings in Western Digital Corp. The sale prices were between $69.43 and $83.75, with an estimated average price of $76.

Contrarius Investment Management Ltd sold out the holdings in Movado Group Inc. The sale prices were between $22.15 and $29, with an estimated average price of $25.34.

Contrarius Investment Management Ltd sold out the holdings in Micron Technology Inc. The sale prices were between $21.71 and $28.97, with an estimated average price of $24.42.

Contrarius Investment Management Ltd sold out the holdings in Gap Inc. The sale prices were between $22.53 and $25.2, with an estimated average price of $23.87.

Contrarius Investment Management Ltd sold out the holdings in Qualcomm Inc. The sale prices were between $52.66 and $66.88, with an estimated average price of $58.02.

Contrarius Investment Management Ltd sold out the holdings in Endo International PLC. The sale prices were between $9.87 and $17.7, with an estimated average price of $12.42.

Contrarius Investment Management Ltd reduced to the holdings in Apple Inc by 20.38%. The sale prices were between $116.02 and $144.12, with an estimated average price of $131.71. The stock is now traded at around $152.75. The impact to the portfolio due to this sale was -2.55%. Contrarius Investment Management Ltd still held 1,147,984 shares as of 2017-03-31.

Contrarius Investment Management Ltd reduced to the holdings in Twitter Inc by 21.38%. The sale prices were between $14.54 and $18.72, with an estimated average price of $16.23. The stock is now traded at around $18.53. The impact to the portfolio due to this sale was -1.57%. Contrarius Investment Management Ltd still held 4,730,593 shares as of 2017-03-31.

Contrarius Investment Management Ltd reduced to the holdings in Bitauto Holdings Ltd by 58.61%. The sale prices were between $18.52 and $26.36, with an estimated average price of $21.75. The stock is now traded at around $30.39. The impact to the portfolio due to this sale was -1.52%. Contrarius Investment Management Ltd still held 755,274 shares as of 2017-03-31.

Contrarius Investment Management Ltd reduced to the holdings in Encana Corp by 26.85%. The sale prices were between $10.32 and $13.74, with an estimated average price of $11.99. The stock is now traded at around $10.77. The impact to the portfolio due to this sale was -1.51%. Contrarius Investment Management Ltd still held 4,682,904 shares as of 2017-03-31.

Contrarius Investment Management Ltd reduced to the holdings in JD.com Inc by 32.98%. The sale prices were between $25.82 and $31.72, with an estimated average price of $29.43. The stock is now traded at around $40.24. The impact to the portfolio due to this sale was -0.47%. Contrarius Investment Management Ltd still held 501,060 shares as of 2017-03-31.

Contrarius Investment Management Ltd reduced to the holdings in American International Group Inc by 65.39%. The sale prices were between $60.85 and $67.2, with an estimated average price of $64.21. The stock is now traded at around $61.82. The impact to the portfolio due to this sale was -0.31%. Contrarius Investment Management Ltd still held 34,026 shares as of 2017-03-31.