Guru Bernard Horn (Trades, Portfolio), manager of Polaris Capital Management, made seven transactions in the fourth quarter of 2014, and six involved international stocks. Four are new to Horn’s portfolio, and two are expansions of existing stakes.
The four new stocks are Michelin (ML.France), Linde AG (LIN.Germany), Northern Star Resources Ltd (NST.Australia) and Hermès International (RMS.France).
The purchase of 707,800 shares of Northern Star Resources, an Australia-based gold producer, for an average price of $1.21 per share had a 0.31% impact on Horn’s portfolio. That purchase made Northern Star the eighth-largest stake in Horn’s possession.
Horn bought 38,400 shares of Michelin, a tire manufacturer based in France, for an average price of $71.88 per share. The transaction had a 1.3% impact on Horn’s portfolio.
Guru Martin Whitman (Trades, Portfolio) has more than 400,000 shares of Michelin in his portfolio.
Horn bought 19,100 shares of Germany-based Linde AG, the world’s third-largest industrial gas company, for an average price of $150.08 per share. The purchase had a 1.3% impact on his portfolio.
Causeway International Value (Trades, Portfolio) also has shares of Linde in its portfolio.
Horn acquired 1,090 shares of Hermès International, a French apparel and accessories manufacturer emphasizing leather, lifestyle accessories, perfumes, luxury goods and ready-to-wear, for an average price of $261.17 per share. The purchase had a 0.14% impact on his portfolio.
The two stakes that Horn expanded in the fourth quarter were Trevi Finanziaria Industriale (TFI.Italy) and Lanxess AG (LXS.Germany).
Horn added 516,819 shares of Trevi Finanziaria Industriale, an Italian holding company active in the engineering and services industries, to his portfolio for an average price of $3.09 per share. The purchase had a 0.52% impact on his portfolio and made Trevi the seventh-largest stake in Horn’s possession.
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