Three gurus have made large investments recently in Antofagasta PLC (ANTO.UK, Financial). Antofagasta may not be a household word in America, but it is one of the most important conglomerates in Chile. It has offices in London as well as Chile and is listed on the London Stock Exchange, where it is the 33rd-largest company.
Antofagasta is one of the world’s leading copper producers, operating four copper mines in Chile, which has a rich deposit of copper in its northern desert. It also operates an extensive railroad network, and it is involved in banking and regional water distribution among other things. Nearly two-thirds of the company is owned by Chile’s prominent Luksic family.
Two gurus – IVA International Fund (Trades, Portfolio) and Charles de Vaulx (Trades, Portfolio) – added the company to their portfolios in the fourth quarter of 2014. One guru, Tweedy Browne (Trades, Portfolio) Global Value, made a large addition to an existing stake in the company.
IVA International Fund (Trades, Portfolio) added 1,912,614 shares of Antofagasta to its portfolio for an average price of £7.12 per share (approximately $8 per share in American currency). The purchase had a 1.1% impact on IVA International’s portfolio. Antofagasta was one of four companies that were new to IVA’s portfolio in the fourth quarter.
Charles de Vaulx (Trades, Portfolio), chief investment officer, co-portfolio manager and partner at International Value Advisers, LLC, invested in an even larger stake. He acquired 3,655,194 shares of Antofagasta, also for an average price of £7.12 per share. That purchase had a 0.81% impact on de Vaulx’s portfolio and made Antofagasta one of the top 20 stakes in de Vaulx’s portfolio.
Antofagasta was also one of four new stocks in de Vaulx’s portfolio in the fourth quarter.
Tweedy Browne (Trades, Portfolio) Global Value acquired 2,417,300 shares in Antofagasta, bringing its stake up to nearly 10 million shares. The purchase had a 0.42% impact on Tweedy Browne (Trades, Portfolio)’s portfolio, making it the seventh-largest stake in that portfolio.
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