Global Guru Bernard Horn (Trades, Portfolio) Reports his Top Five from the Second Quarter
Guru Bernard Horn (Trades, Portfolio) of the Polaris Global Value Fund reported his third quarter holdings earlier today. The guru focuses his investments on two philosophies – that the country and industry factors are important determinants of security prices, and that global market fluctuations produce mispriced stocks.
Horn’s most recent portfolio boasted four new stocks keeping his holdings at 86 stocks. His portfolio value increased $7 million and is now sitting at $263 million. The following five companies are the top five stocks in Bernard Horn (Trades, Portfolio)’s international Polaris Global Value Fund’s portfolio.
Greencore (LSE:GNC, Financial)
Bernard Horn (Trades, Portfolio)’s largest holding is in the British company Greencore Group. The guru holds on to 2,372,838 shares of the company’s stock, representing 3.4% of his total portfolio as well as 0.58% of the company’s shares outstanding.
The guru did not alter his holdings over the past quarter. His last move was in the second quarter of 2014, and since that increase the price per share is up approximately 38.2%.
Horn’s historical holding history:
Greencore Group PLC is a producer of convenience foods with strong market leadership positions in the UK convenience food market across sandwiches, chilled prepared meals, cooking sauces and pickles, cakes and desserts and Yorkshire puddings.
Greencore’s historical revenue and net income:
The analysis on Greencore reports that the company’s dividend yield is near a 5-year low, its revenue per share has been in decline over the past five years and it has issued GBP67.2 million of debt over the past year.
The Peter Lynch Chart suggests that the company is currently undervalued:
Greencore Group has a market cap of ÂŁ1.07 billion. Its shares are currently trading at around ÂŁ2.57 with a P/E ratio of 14.30, a P/S ratio of 0.84 and a P/B ratio of 4.00. The company had an annual average earnings growth of 10.10% over the past five years.
Methanex Corp (TSX:MX)
The guru’s second largest holding is in Methanex where he maintains 85,437 shares of the company’s stock. His position represents 2.2% of his total portfolio and 0.09% of the company’s shares outstanding.
Horn has not altered his position in the company since the third quarter of 2012. Since then the price per share has jumped 123.7%. Over the past five years though the company has seen gains of up to 253.5% per share.
Bernard Horn (Trades, Portfolio)’s holding history as of the close of the second quarter:
Methanex is a Canadian-based company that produces and markets methanol, a chemical that is used to make a range of industrial, consumer and energy products.
Methanex’s historical revenue and earnings growth:
The analysis on Methanex reports that the company has a high Piotroski F-Score, its dividend yield is near a 1-year high and its P/B and P/S ratios are near a 1-year low.
The Peter Lynch Chart suggests that the company is currently undervalued:
Methanex has a market cap of C$6.28 billion. Its shares are currently trading at around C$63.63 with a P/E ratio of 12.70, a P/S ratio of 1.66 and a P/B ratio of 3.65. The company had an annual average earnings growth of 19.60% over the past five years.
Actavis PLC (ACT)
The guru’s third largest holding of the third quarter is a new buy. Over the past quarter Horn purchased a total of 20,689 shares of Actavis stock. The guru bought these shares in the quarterly price range of $202.72 to $248.00, with an estimated average quarterly price of $223.78 per share. Since then the price per share is trading up about 10.6%.
Horn’s holding history in comparison to quarterly price growth:
Actavis is a global, integrated specialty pharmaceutical company focused on developing, manufacturing and distributing generic, brand and biosimilar products.
Actavis’ historical revenue and net income:
The GuruFocus analysis on Actavis reports that the company’s asset growth is faster than its revenue growth, the Piotroski F-Score is high and its price is sitting near a 10-year high.
The Peter Lynch Chart suggests that the company is overvalued:
Actavis has a market cap of $65.4 billion. Its shares are currently trading at around $247.50 with a P/E ratio of 525.70 and a P/S ratio of 4.00. Actavis PLC had an annual average earnings growth of 1.80% over the past five years.
WellPoint (WLP)
The guru’s fourth largest holding is in WellPoint where he holds on to 36,600 shares of the company’s stock. This position makes up for a relatively small 1.7% of his total portfolio as well as 0.01% of the company’s shares outstanding.
Bernard Horn (Trades, Portfolio) did not alter his position over the past quarter – in fact his last move was in the second quarter of 2011, and since then the price per share is up about 66.6%.
Horn’s historical holdings as of the close of the third quarter:
WellPoint’s historical revenue and net income:
The analysis on WellPoint reports that the company’s dividend yield is near a 2-year low, its price is near a 10-year high and it has issued $5.3 billion over the past three years.
The Peter Lynch Chart suggests that the company is currently overvalued:
WellPoint has a market cap of $34.1 billion. Its shares are currently trading at around $126.31 with a P/E ratio of 16.50, a P/S ratio of 0.50 and a P/B ratio of 1.40. The dividend yield of WellPoint stocks is at 1.30% and the company had an annual average earnings growth of 12.80% over the past ten years.
Symrise AG (XTER:SY1)
Bernard Horn (Trades, Portfolio)’s fifth largest position is in Symrise where he holds on to 77,500 shares of the company’s stock. This position makes up for 1.6% of the guru’s total portfolio as well as 0.07% of the company’s shares outstanding.
The guru did not change his holdings over the past quarter. The guru’s initial and most recent move was in the fourth quarter of 2012, and since then the price per share is trading up nearly 65%.
Horn’s historical holding history:
Symrise AG is a supplier of flavors, fragrances, aroma molecules and cosmetic ingredients for the perfume, cosmetics, and food industries and the personal care and household supply sectors.
Symrise’s historical revenue and net income:
The analysis on Symrise reports that the company’s Piotroski F-Score is high, its dividend yield is near a 10-year low and the company’s price is near a 10-year high.
The Peter Lynch Chart suggests that the company is currently overvalued:
Symrise has a market cap of $5.3 billion. Its shares are currently trading at around $44.28 with a P/E ratio of 29.40 and a P/S ratio of 2.88. The dividend yield for Symrise AG is at 1.18%.
Check out Bernard Horn (Trades, Portfolio)’s complete third quarter holdings here.
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