Highfields Capital Management’s State Street SPDR S&P Bank ETF KBE Stock Holding History

Highfields Capital Management’s Portfolio KBE Stock Details KBE Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2014 Q3	–	Sell	-1,118,000	Closed	-$37.4M	–	97
2014 Q2	$37.4M	Hold	1,118,000	–	–	0.27%	65
2014 Q1	$38.1M	Hold	1,118,000	–	–	0.32%	53
2013 Q4	$37.1M	Hold	1,118,000	–	–	0.3%	53
2013 Q3	$33.6M	Hold	1,118,000	–	–	0.27%	60
2013 Q2	$32.1M	Buy	+1,118,000	New	+$30.6M	0.27%	66

Other funds holding KBE

Goldman Sachs New York $1.15T AUM 47.82% 1-Year Est. Return

Wells Fargo San Francisco, California $617B AUM 30.33% 1-Year Est. Return

JP Morgan Chase New York $1.81T AUM 41.13% 1-Year Est. Return

WBG

Wharton Business Group Malvern, Pennsylvania $2.99B AUM 30.41% 1-Year Est. Return

Morgan Stanley New York $1.89T AUM 35.08% 1-Year Est. Return

PVH

Psagot Value Holdings Tel Aviv, Israel $11M AUM 32.09% 1-Year Est. Return

Bank of America Charlotte, North Carolina $1.55T AUM 33.47% 1-Year Est. Return

Horizon Investments Charlotte, North Carolina $9.13B AUM 34.49% 1-Year Est. Return

Stifel Financial St. Louis, Missouri $120B AUM 27.84% 1-Year Est. Return

Citigroup New York $303B AUM 53.02% 1-Year Est. Return

Highfields Capital Management's KBE Position: Q3 2014 in Review

Highfields Capital Management sold out of State Street SPDR S&P Bank ETF (KBE) in Q3 2014, closing a stake of 1,118,000 shares — an estimated $37.4M sold.

Highfields Capital Management first reported a position in KBE in Q2 2013 and held it in 5 quarters. The position peaked at $38.1M in Q1 2014. 115 funds tracked by Wall St. Rank hold KBE as of Q3 2014.

Highfields Capital Management reported no remaining State Street SPDR S&P Bank ETF position as of Q3 2014 after selling out during the quarter.
Highfields Capital Management sold 1,118,000 State Street SPDR S&P Bank ETF shares in Q3 2014, an estimated $37.4M.
Highfields Capital Management first reported a position in State Street SPDR S&P Bank ETF in Q2 2013 and held it in 5 quarters.
Highfields Capital Management's State Street SPDR S&P Bank ETF position peaked at $38.1M in Q1 2014.
115 funds tracked by Wall St. Rank held State Street SPDR S&P Bank ETF as of Q3 2014.

Based on Highfields Capital Management's 13F filing for Q3 2014, filed 14 Nov 2014.