Highlighting Major Changes with a Focus on Barrick Gold Corp
Dr. John Hussman (Trades, Portfolio), the seasoned economist and fund manager known for his meticulous investment strategies, has recently made significant adjustments to his portfolio in the second quarter of 2024. As the president of Hussman Strategic Advisors and the Hussman Investment Trust, he manages funds that are keenly focused on U.S. stocks and government securities. His investment decisions are heavily influenced by his dual focus on valuation and market action, which guide his risk-taking in various market climates. With a rich background in economics and a keen eye for market dynamics, Dr. Hussman's latest 13F filing sheds light on his strategic moves during this period.
Summary of New Buys
John Hussman (Trades, Portfolio)'s portfolio saw the addition of 36 new stocks in Q2 2024. Noteworthy new positions include:
- Qualys Inc (QLYS, Financial), with 21,000 shares, making up 0.82% of the portfolio and valued at $2.99 million.
- Norwegian Cruise Line Holdings Ltd (NCLH, Financial), comprising 147,000 shares, which account for approximately 0.76% of the portfolio, with a total value of $2.76 million.
- Carter's Inc (CRI, Financial), with 42,000 shares, representing 0.72% of the portfolio and valued at $2.60 million.
Key Position Increases
John Hussman (Trades, Portfolio) also strategically increased his stakes in 26 stocks, with significant boosts to:
- Neurocrine Biosciences Inc (NBIX, Financial), where an additional 14,700 shares brought the total to 25,200 shares, marking a 140% increase and impacting the portfolio by 0.56%, valued at $3.47 million.
- Novo Nordisk A/S (NVO, Financial), with an additional 10,500 shares bringing the total to 42,000, a 33.33% increase, valued at $5.99 million.
Summary of Sold Out Positions
In a significant portfolio cleanup, John Hussman (Trades, Portfolio) exited 20 positions in the second quarter of 2024, including:
- Comcast Corp (CMCSA, Financial), where all 105,000 shares were sold, impacting the portfolio by -1.06%.
- Shockwave Medical Inc (SWAV, Financial), with all 12,600 shares liquidated, causing a -0.95% portfolio impact.
Key Position Reductions
Moreover, Hussman reduced his holdings in 61 stocks. The most notable reductions were:
- Barrick Gold Corp (GOLD, Financial), reduced by 459,000 shares, a -60% decrease, impacting the portfolio by -1.78%. The stock traded at an average price of $16.98 during the quarter and has returned 11.89% over the past three months and 3.64% year-to-date.
- Agnico Eagle Mines Ltd (AEM, Financial), reduced by 122,400 shares, a -60% decrease, impacting the portfolio by -1.7%. The stock traded at an average price of $65.24 during the quarter and has returned 22.53% over the past three months and 42.71% year-to-date.
Portfolio Overview
As of the second quarter of 2024, John Hussman (Trades, Portfolio)'s portfolio included 232 stocks. The top holdings were 1.65% in Novo Nordisk A/S (NVO, Financial), 1.47% in Agnico Eagle Mines Ltd (AEM), and 1.41% in Barrick Gold Corp (GOLD). The portfolio is well-diversified across all 11 industries, with significant concentrations in Technology, Healthcare, and Basic Materials.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
