Tipp Hill Capital Management’s Top Bets Amid Market Volatility

#3 WMIH CORPORATION (NASDAQ:WMIH)

– Shares Owned by Tipp Hill Capital (as of December 31): 2.82 million

– Value of Holding (as of December 31): $7.31 Million

The stock price of the $511.30 million reinsurance company is up by more than 13% over the last year. The company has been trying to identify and evaluate adequate acquisition opportunities in the financial services industry last year, but still hasn’t made any purchases. David Tepper‘s Appaloosa Management is one of the largest shareholders of WMIH CORPORATION (NASDAQ:WMIH) holding more than 16.90 million shares as of the end of December.

#2 Barrick Gold Corporation (USA) (NYSE:ABX)

– Shares Owned by Tipp Hill Capital (as of December 31): 1.08 million

– Value of Holding (as of December 31): $8 Million

After a 13% reduction during the fourth quarter, Tipp Hill’s position in Barrick Gold Corporation (USA) (NYSE:ABX) represented 8.66% of the fund’s portfolio. During the first six weeks of this year Barrick Gold’s stock surged by nearly 58% on the back of rising gold prices. However, the precious metal’s price had been lying low for so long before the recent rally that Barrick Gold recently marked down the value of its assets by $3 billion. The company also revised down its guidance for gold production in 2015 from a range of 6.2 million to 6.6 million ounces to between 6.1 million to 6.3 million ounces following an equipment failure at the Pueblo Viejo mine in the Dominican Republic. Billionaire Jim Simons’ Renaissance Technologies boosted its stake in Barrick Gold Corporation by 7.61 million shares during the fourth quarter to 25.71 million shares.

#1 Delta Air Lines, Inc. (NYSE:DAL)

– Shares Owned by Tipp Hill Capital (as of December 31): 220,000

– Value of Holding (as of December 31): $11.15 Million

During the last three months of 2015, Tipp Hill’s largest holding remained unchanged. So far this year the stock of one of the top airlines in the world has plummeted by nearly 20% amid an overall market sell-off and as the drop in fuel prices were offset by a slowdown in global growth and the strong dollar. However, going forward the company expects its fuel costs to further dwindle to $1.20 to $1.25 per gallon in 2016 from $1.85 a gallon that it was paying at the end of 2015. Delta Air Lines has been the most popular airline stock among the funds in our database several quarters in a row and with the current round of 13F filings almost finished, we will be able to see soon if the stock maintained its popularity during the fourth quarter. Meanwhile, Lansdowne Partners disclosed holding 26.06 million shares of Delta Air Lines as of the end of December.

Disclosure: None