John Hussman (Trades, Portfolio) is the president and principal shareholder of Hussman Strategic Advisors, the investment advisory firm that manages the Hussman Funds. During the second quarter the guru sold shares in the following stocks:
Hussman exited his Ebix Inc. (EBIX) position with an impact of -1.69% on the portfolio.
The company provides software and e-commerce solutions to the insurance, finance and health care industries.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10. The return on equity (ROE) of 23.30% and return on assets (ROA) of 12.96% are outperforming 85% of the companies in the Global Software - Application industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 0.40 is below the industry median of 7.63.
The largest shareholder among the gurus is Chuck Royce (Trades, Portfolio) with 0.17% of outstanding shares followed by Paul Tudor Jones (Trades, Portfolio) with 0.07%, Jim Simons (Trades, Portfolio) with 0.06% and Caxton Associates (Trades, Portfolio) with 0.02%.
The guru’s holding of WellCare Health Plans Inc. (WCG) was closed with an impact of -1.55% on the portfolio.
The company operates in the health care industry. Its key business includes provision of health care plans and prescription drug plans to families, children and individuals.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10. ROE of 12.71% is underperforming 57% and ROA of 3.63% is outperforming 52% of the companies in the Global Health Care Plans industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 3.85 is above the industry median of 1.38.
Vanguard Health Care Fund (Trades, Portfolio) is the largest shareholder among the gurus with 2.38% of outstanding shares followed by Simons with 1.39%, Alan Fournier (Trades, Portfolio) with 0.53%, Steven Cohen (Trades, Portfolio) with 0.24%, Pioneer Investments (Trades, Portfolio) with 0.2% and Jones with 0.01%.
The Ross Stores Inc. (ROST) stake was closed impacting the portfolio by -1.46%.
The company is the off-price apparel and home fashion chain that is engaged in selling name-brand and designer apparel, accessories, footwear and home fashions to middle-income consumers.
GuruFocus gives the stock a profitability and growth rating of 9 out of 10. The ROE of 43.07% and ROA of 21.64% are outperforming 97% of the companies in the Global Apparel Stores industry. Financial strength has a rating of 8 out of 10. The cash-debt ratio of 3.14 is above the industry median of 0.95.
PRIMECAP Management (Trades, Portfolio) is the largest shareholder among the gurus with 3.77% of outstanding shares followed by Pioneer Investments with 0.82%, David Rolfe (Trades, Portfolio) with 0.44%, Cohen with 0.11% and Simons with 0.08%.
Hussman’s holding of Mattel Inc. (MAT) was reduced by 82.13%. The trade had an impact of -1.41% on the portfolio.
The company designs, manufactures and markets a variety of toy products through sales to its customers and directly to consumers. The products include fashion dolls, infant and preschool products, toy cars and electrical vehicles among others.
GuruFocus gives the stock a profitability and growth rating of 4 out of 10. The ROE of 10.53% and ROA of 3.86% are outperforming 65% of the companies in the Global Leisure industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.10 is below the industry median of 0.69.
The largest shareholder among the gurus is PRIMECAP Management with 5.75% of outstanding shares followed by T Rowe Price Equity Income Fund (Trades, Portfolio) with 1.92%, John Rogers (Trades, Portfolio) with 1.48%, Jerome Dodson (Trades, Portfolio) with 0.35%, Jana Partners (Trades, Portfolio) with 0.29%, Joel Greenblatt (Trades, Portfolio) with 0.2% and Robert Olstein (Trades, Portfolio) with 0.03%.
The guru’s holding of Micron Technology Inc. (MU) was closed with an impact of -1.28% on the portfolio.
The company along with its subsidiaries manufactures semiconductor systems. Its product portfolio consists of memory and storage technologies such as DRAM, NAND, NOR and 3D XPoint memory.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10. The ROE of 19.02% and ROA of 8.62% are outperforming 78% of the companies in the Global Semiconductor Memory industry. Financial strength has a rating of 5 out of 10 with a cash-debt ratio of 0.37 that is below the industry median of 1.76.
PRIMECAP Management is the largest shareholder among the gurus with 5.58% of outstanding shares followed by Donald Smith (Trades, Portfolio) with 1.24%, David Tepper (Trades, Portfolio) with 0.6%, Ken Heebner (Trades, Portfolio) with 0.24% and Pioneer Investments with 0.23%.
The investor sold out Align Technology Inc. (ALGN). The transaction had an impact of -1.27% on the portfolio.
The company designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and CAD/CAM digital services used in dentistry, orthodontics and dental records storage. Its segments are Clear Aligner and Scanners & Services.
GuruFocus gives the stock a profitability and growth rating of 9 out of 10. The ROE of 23.76% and ROA of 16.93% are outperforming 92% of the companies in the Global Medical Devices industry. Financial strength has a rating of 9 out of 10 with no cash to debt.
The largest shareholder among the gurus is Steve Mandel (Trades, Portfolio) with 3.09% of outstanding shares followed by Simons with 1.78%, Columbia Wanger (Trades, Portfolio) with 1.43%, Pioneer Investments with 0.27%, Ken Fisher (Trades, Portfolio) with 0.12% and Ruane Cunniff (Trades, Portfolio) with 0.06%.
Hussman also exited his holding of Amazon.com Inc. (AMZN). The trade had an impact of -0.98% on the portfolio.
The online retailer sells its products through the website which provides services, such as advertising services and co-branded credit card agreements. It also offers electronic devices like Kindle e-readers and Fire tablets.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10. The ROE of 9.76% and ROA of 2.48% are outperforming 55% of the companies in the Global Specialty Retail industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 2.79 is above the industry median of 0.95.
Frank Sands (Trades, Portfolio) is the largest shareholder among the gurus with 0.45% of outstanding shares followed by Chris Davis (Trades, Portfolio) with 0.36%, Fisher with 0.35% and Spiros Segalas (Trades, Portfolio) with 0.29%.
The guru's holding of ExxonMobil Corp. (XOM) was closed with an impact of -0.92% on the portfolio.
The integrated oil and gas company is engaged in exploration for and production of crude oil and natural gas. It is also engaged in manufacturing, transportation and sale of crude oil, natural gas and petroleum products.
GuruFocus gives the stock a profitability and growth rating of 5 out of 10. The ROE of 6.76% and ROA of 3.44% are outperforming 51% of the companies in the Global Oil & Gas Integrated industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 0.10 is below the industry median of 0.38.
The largest shareholder among the gurus is First Eagle Investment (Trades, Portfolio) with 0.17% of outstanding shares followed by T Rowe Price Equity Income Fund with 0.16%, Richard Pzena (Trades, Portfolio) with 0.12%, Fisher with 0.11%, Pioneer Investments with 0.06%, Donald Yacktman (Trades, Portfolio) with 0.06%, Yacktman Fund (Trades, Portfolio) with 0.04% and Tom Gayner (Trades, Portfolio) with 0.02%.
Disclosure: I do not own any shares of any stocks mentioned in this article.
