Daily Gainer: $ANV, $NG, $ISRG
Daily Losers: $CTB, $NAV, $FDML
Gold Boosts Paulson’s Portfolio
Mangrove Partners Narrowly Avoids “Extinction-Level Event”
Nathaniel August's Mangrove Partners is having a rough 2020. According to a copy of the hedge fund's August update, a copy of which ValueWalk has been able to review, for the year to August 5, Mangrove Funds have returned -38%. Over the trailing 12-month period, the funds returned -44%. The S&P 500 produced a positive Read More
Our top gainer today is gold production company Allied Nevada Gold Corp. (NYSEMKT:ANV) (TSE:ANV), which performed an impressive +26.30%, reaching $4.85. The stock rose after the announcement of record gold production and sales during Q3. Billionaire John Paulson benefited from this increment as he holds 1.5 million ANV shares, representing 0.07% of his portfolio. But despite today’s jump, Paulson lost -85.78% in this position, having paid an average per-share price of $34.10.
The second company with a major gain today is NovaGold Resources Inc. (NYSEMKT:NG) (TSE:NG), its price climbing +4.93% to $2.34. The investor Seth Klarman holds 21 million Novagold shares, which represents 1.14% of his portfolio. Klarman paid an average price of $8.10 per stock. Another billionaire reaping the benefits with this one is John Paulson. The stockholder owns 35.8 million NG shares, bought at an average price of $7.53.
Last but not least is Intuitive Surgical, Inc. (NASDAQ:ISRG), which was up +4.59% today, reaching $380.99. This comes on the heels of the tech company’s announcement of a new client, Spine Wave, Inc. Steve Mandel holds 1.1 million ISRG shares, representing 2.86% of his fund. The billionaire has lost -26.31% in this position overall; he paid an average price of $517.05 per share.
Today’s biggest loser is Cooper Tire & Rubber Company (NYSE:CTB), which manufactures and markets replacement tires worldwide. The stock dipped -12.84% to $25.72 following a report that an anticipated offer from Apollo Tyres Ltd was about to collapse due to a labor dispute in the U.S. and China. This affected the portfolio of John Paulson, who holds five million shares (1.17% of his holdings). Another billionaire with a position in CTB is Thomas Steyer, who bought 810,000 shares (0.52% of his fund) at an average price of $28.95 last quarter.
Following CTB is military vehicles producer Navistar International Corporation (NYSE:NAV), its price down -4.87% ($36.50). This is bad news for Julian Robertson, who bought 702,000 shares (2.47% of his fund) at an average price of $32.4 last quarter. Carl Icahn has NAV stakes as well and has been increasing his position in recent years. In September 2011, he held 1.7 million shares, and now, he owns 13.3 million, representing 1.76% of his fund. The billionaire paid an average price of $39.43 per asset.
The last company on our daily loser list is Federal-Mogul Corporation (NASDAQ:FDML), a vehicle components supplier. Its price dropped -4.46% today, hitting $15.89. There is only one investor among the billionaires tracked by iBillionaire with a position in NAV: Carl Icahn. Icahn has held 76.6 million FDML shares for more than four years, representing 3.64% of his fund. It’s unlikely he’s worried about today’s performance: the billionaire has gained 15.60% with this stake, paying an average price of $13.75 per share.
To learn more about these stocks, visit iBillionaire.