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HCM

Highfields Capital Management Portfolio holdings

AUM $68.3M
1-Year Est. Return 21.64%
This Fund
S&P 500
This Quarter Est. Return
+9.23%
1 Year Est. Return
-21.64%
3 Year Est. Return
-4.74%
5 Year Est. Return
+9.61%
10 Year Est. Return
–
AUM
$12.7B
AUM Growth
+$590M
Cap. Flow
-$429M
Cap. Flow %
-3.39%
Top 10 Hldgs %
46.92%
Holding
106
New
18
Increased
13
Reduced
20
Closed
19

Top Buys

Rank Stock Value
1
MSFT icon
Microsoft
MSFT
+$865M
2
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
+$215M
3
FDX icon
FedEx
FDX
+$118M
4
ASH icon
Ashland
ASH
+$106M
5
JWN
Nordstrom
JWN
+$74.1M

Top Sells

Rank Stock Value
1
NWSA
NEWS CORPORATION CL-A
NWSA
+$506M
2
DELL
DELL INC
DELL
+$272M
3
SLM icon
SLM Corp
SLM
+$234M
4
ILMN icon
Illumina
ILMN
+$111M
5
ORCL icon
Oracle
ORCL
+$104M

Sector Composition

Rank Sector Weight
1 Financials 21.16%
2 Miscellaneous 19.31%
3 Technology 14.92%
4 Energy 14.69%
5 Communication Services 8.09%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
B
26
CALL
Barrick Mining
B
$73.7B
$173M 1.37%
9,314,900
+3,300,000
+55% +$58.2M
YPF icon
27
YPF Sociedad Anonima ADS
YPF
$20.6B
$148M 1.17%
7,365,557
-200,000
-3% -$3.43M
PARA
28
DELISTED
Paramount Global Class B
PARA
$144M 1.13%
2,603,941
– –
FDO
29
DELISTED
FAMILY DOLLAR STORES
FDO
$133M 1.05%
1,853,000
-1,282,000
-41% -$90.1M
THI
30
DELISTED
TIM HORTONS INC COM, CANADA
THI
$133M 1.05%
2,290,956
-1,582,953
-41% -$89.9M
DLTR icon
31
Dollar Tree
DLTR
$24.7B
$129M 1.02%
2,254,677
– –
TWTC
32
DELISTED
TW TELECOM INC CL A COM
TWTC
$128M 1.01%
4,300,000
– –
LVNTA
33
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
$127M 1%
5,842,094
– –
VC icon
34
Visteon
VC
$2.74B
$124M 0.98%
1,634,345
-115,000
-7% -$8M
AAPL icon
35
Apple
AAPL
$4.67T
$114M 0.9%
6,692,000
-2,769,200
-29% -$45.9M
DISH
36
DELISTED
DISH Network Corp.
DISH
$113M 0.89%
2,500,000
– –
HCA icon
37
HCA Healthcare
HCA
$87.7B
$111M 0.88%
2,600,000
– –
ASH icon
38
Ashland
ASH
$3.34B
$111M 0.88%
+2,448,506
New +$106M
IWO icon
39
iShares Russell 2000 Growth ETF
IWO
$14.7B
$106M 0.83%
840,000
– –
JWN
40
DELISTED
Nordstrom
JWN
$98.4M 0.78%
1,750,383
+1,254,313
+253% +$74.1M
APC
41
CALL
DELISTED
Anadarko Petroleum
APC
$93M 0.73%
1,000,000
– –
TT icon
42
Trane Technologies
TT
$98.5B
$85.4M 0.67%
1,647,345
– –
AET
43
DELISTED
Aetna Inc
AET
$83.7M 0.66%
1,306,780
-1,100,000
-46% -$70.5M
EQC
44
DELISTED
Equity Commonwealth
EQC
$82.3M 0.65%
3,757,775
– –
CPWR
45
DELISTED
COMPUWARE CORP
CPWR
$78.2M 0.62%
7,272,560
– –
TSLA icon
46
PUT
Tesla
TSLA
$1.4T
$77.4M 0.61%
+6,000,000
New +$59.4M
LIFE
47
DELISTED
LIFE TECHNOLOGIES CORP COM STK (DE)
LIFE
$74.8M 0.59%
1,000,000
– –
NWSA icon
48
News Corp Class A
NWSA
$16.3B
$70.6M 0.56%
+4,393,573
New +$70.2M
SPY icon
49
State Street SPDR S&P 500 ETF Trust
SPY
$814B
$66.7M 0.53%
396,958
-10,907
-3% -$1.83M
MU icon
50
Micron Technology
MU
$1.15T
$62.1M 0.49%
+3,555,000
New +$51.6M
1
2
3 4 5

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Highfields Capital Management's Q3 2013 Portfolio in Review

As of Q3 2013, Highfields Capital Management held 106 positions worth $12.7B, up 4.9% from $12.1B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Highfields Capital Management withdrew a net $429M in Q3 2013, closing 19 positions and reducing 20 holdings. Its most notable exit was NEWS CORPORATION CL-A, an estimated $506M position sold in full.

By sector, the portfolio is most concentrated in Financials at 21% of assets, down from 23% a quarter earlier, followed by Miscellaneous and Technology.

Against the trend, Highfields Capital Management opened a new position in Twenty-First Century Fox, Inc. Class A worth $229M.

  • Highfields Capital Management's largest Q3 2013 buy was Twenty-First Century Fox, Inc. Class A: 6,824,300 shares worth $229M.
  • Highfields Capital Management added most to Microsoft in Q3 2013, an estimated $865M increase.
  • Highfields Capital Management's biggest Q3 2013 reduction was DELL INC, cutting an estimated $272M.
  • Highfields Capital Management fully exited NEWS CORPORATION CL-A in Q3 2013, selling an estimated $506M.
  • Highfields Capital Management's ten largest holdings make up 47% of its $12.7B portfolio in Q3 2013.
  • Highfields Capital Management opened 18 new positions and closed 19 in Q3 2013.
  • Highfields Capital Management's portfolio value rose 4.9% quarter-over-quarter to $12.7B.

Based on Highfields Capital Management's 13F filing for Q3 2013, filed 14 Nov 2013.