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HCM

Herndon Capital Management Portfolio holdings

AUM $659M
1-Year Est. Return 22.02%
This Fund
S&P 500
This Quarter Est. Return
+1.3%
1 Year Est. Return
+22.02%
3 Year Est. Return
+20.31%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$7.59B
AUM Growth
-$378M
Cap. Flow
-$366M
Cap. Flow %
-4.82%
Top 10 Hldgs %
28.4%
Holding
181
New
16
Increased
18
Reduced
97
Closed
20

Top Buys

Rank Stock Value
1
CAT icon
Caterpillar
CAT
+$136M
2
K
Kellanova
K
+$114M
3
ATW
Atwood Oceanics
ATW
+$98.2M
4
VLO icon
Valero Energy
VLO
+$92.9M
5
OIS icon
Oil States International
OIS
+$90.9M

Top Sells

Rank Stock Value
1
CVX icon
Chevron
CVX
+$211M
2
JOY
Joy Global Inc
JOY
+$196M
3
BAX icon
Baxter International
BAX
+$142M
4
AGNC icon
AGNC Investment
AGNC
+$87M
5
ENDP
Endo International plc
ENDP
+$84.3M

Sector Composition

Rank Sector Weight
1 Financials 18.37%
2 Energy 16.38%
3 Technology 11.76%
4 Consumer Staples 10.44%
5 Healthcare 9.13%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HMY icon
151
Harmony Gold Mining
HMY
$11.3B
$23.4K ﹤0.01%
10,831
– –
AMZN icon
152
Amazon
AMZN
$2.94T
– –
-62,420
Closed -$1.01M
APTV icon
153
Aptiv
APTV
$9.95B
– –
-29,154
Closed -$2M
BHP icon
154
BHP
BHP
$227B
– –
-3,491
Closed -$202K
BTI icon
155
British American Tobacco
BTI
$128B
– –
-3,530
Closed -$210K
LRCX icon
156
Lam Research
LRCX
$385B
– –
-190,010
Closed -$1.28M
MUSA icon
157
Murphy USA
MUSA
$10.7B
– –
-131,769
Closed -$6.44M
OII icon
158
Oceaneering
OII
$4.78B
– –
-12,408
Closed -$969K
PBF icon
159
PBF Energy
PBF
$7.25B
– –
-2,500,825
Closed -$66.6M
SCCO icon
160
Southern Copper
SCCO
$164B
– –
-1,052,302
Closed -$29.6M
TWO
161
Two Harbors Investment
TWO
$1.26B
– –
-45,763
Closed -$3.84M
SWN
162
DELISTED
Southwestern Energy Company
SWN
– –
-1,654,986
Closed -$75.3M
ABB
163
DELISTED
ABB Ltd
ABB
– –
-8,815
Closed -$203K
ENDP
164
DELISTED
Endo International plc
ENDP
– –
-1,204,591
Closed -$84.3M
NE
165
DELISTED
Noble Corporation
NE
– –
-65,049
Closed -$1.91M
JOY
166
DELISTED
Joy Global Inc
JOY
– –
-3,179,145
Closed -$196M
ITY
167
DELISTED
IMPERIAL TOBACCO GRP ADS(RP 2
ITY
– –
-2,207
Closed -$200K
BRG
168
DELISTED
BG GROUP PLC ADS(RP 5 ORD SHS)
BRG
– –
-9,615
Closed -$205K
AHO
169
DELISTED
KONINKLIJKE AHOLD NV SPONS ADR (EA RPSTG 1 ORD)
AHO
– –
-12,072
Closed -$227K
3 4 5 6
7

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Herndon Capital Management's Q3 2014 Portfolio in Review

As of Q3 2014, Herndon Capital Management held 181 positions worth $7.59B, down 4.7% from $7.97B the previous quarter. Its ten largest holdings account for 28% of the portfolio.

Herndon Capital Management withdrew a net $366M in Q3 2014, closing 20 positions and reducing 97 holdings. Its most notable exit was Joy Global Inc, an estimated $196M position sold in full.

By sector, the portfolio is most concentrated in Financials at 18% of assets, up from 17% a quarter earlier, followed by Energy and Technology.

Against the trend, Herndon Capital Management opened a new position in Valero Energy worth $87.3M.

  • Herndon Capital Management's largest Q3 2014 buy was Valero Energy: 1,841,011 shares worth $87.3M.
  • Herndon Capital Management added most to Caterpillar in Q3 2014, an estimated $136M increase.
  • Herndon Capital Management's biggest Q3 2014 reduction was Chevron, cutting an estimated $211M.
  • Herndon Capital Management fully exited Joy Global Inc in Q3 2014, selling an estimated $196M.
  • Herndon Capital Management's ten largest holdings make up 28% of its $7.59B portfolio in Q3 2014.
  • Herndon Capital Management opened 16 new positions and closed 20 in Q3 2014.
  • Herndon Capital Management's portfolio value fell 4.7% quarter-over-quarter to $7.59B.

Based on Herndon Capital Management's 13F filing for Q3 2014, filed 13 Nov 2014.