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HCM

Highfields Capital Management Portfolio holdings

AUM $68.3M Turnover 50%
1-Year Est. Return 21.64%
This Fund
S&P 500
This Quarter Est. Return
+12.7%
1 Year Est. Return
-21.64%
3 Year Est. Return
-4.74%
5 Year Est. Return
+9.61%
10 Year Est. Return
–
AUM
$12.3B
AUM Growth
-$359M
Cap. Flow
-$160M
Cap. Flow %
-1.3%
Top 10 Hldgs %
43.78%
Holding
106
New
19
Increased
13
Reduced
18
Closed
17
Avg Time Held Equity + Options
0.4 years
Top 10 Avg Time Held Equity + Options
0.3 years
Top 20 Avg Time Held Equity + Options
0.3 years
Avg Time Held Equity only
0.4 years
Top 10 Avg Time Held Equity only
0.4 years
Top 20 Avg Time Held Equity only
0.4 years

Top Buys

Rank Stock Value
1
BEN icon
Franklin Templeton
BEN
+$292M
2
APD icon
Air Products & Chemicals
APD
+$200M
3
AMAT icon
Applied Materials
AMAT
+$177M
4
BRCM
BROADCOM CORP CL-A
BRCM
+$173M
5
RDS.A
Royal Dutch Shell PLC ADS Class A
RDS.A
+$160M

Top Sells

Rank Stock Value
1
MSFT icon
Microsoft
MSFT
+$545M
2
HES icon
Hess
HES
+$273M
3
SLM icon
SLM Corp
SLM
+$213M
4
DELL icon
DELL INC
DELL
+$175M
5
PARA icon
Paramount Global Class B
PARA
+$144M

Sector Composition

Rank Sector Weight
1 Financials 27.07%
2 Energy 15.53%
3 Technology 12.46%
4 Miscellaneous 8.58%
5 Communication Services 7.08%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
AMAT icon
26
Applied Materials
AMAT
$342B
$180M 1.46%
+10,148,000
New +$177M
2013 Q4
0 quarters
RDS.A
27
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
$169M 1.38%
+2,545,606
New +$160M
2013 Q4
0 quarters
JPM icon
28
JPMorgan Chase
JPM
$889B
$168M 1.36%
+2,870,000
New +$157M
2013 Q4
0 quarters
JWN icon
29
DELISTED
Nordstrom
JWN
$163M 1.33%
2,641,497
+891,114
+51% +$53.6M
2013 Q2
2 quarters
TWTC
30
DELISTED
TW TELECOM INC CL A COM
TWTC
$147M 1.2%
4,826,587
+526,587
+12% +$15.7M
2013 Q2
2 quarters
DISH
31
DELISTED
DISH Network Corp.
DISH
$145M 1.18%
2,500,000
– –
2013 Q2
2 quarters
ABT icon
32
Abbott
ABT
$181B
$141M 1.15%
+3,690,000
New +$136M
2013 Q4
0 quarters
AGN
33
DELISTED
Allergan Inc
AGN
$141M 1.15%
+1,272,000
New +$122M
2013 Q4
0 quarters
GD icon
34
General Dynamics
GD
$91.2B
$140M 1.14%
+1,462,000
New +$131M
2013 Q4
0 quarters
THI
35
DELISTED
TIM HORTONS INC COM, CANADA
THI
$134M 1.09%
2,290,956
– –
2013 Q2
2 quarters
DLTR icon
36
Dollar Tree
DLTR
$23.3B
$127M 1.03%
2,254,677
– –
2013 Q2
2 quarters
HCA icon
37
HCA Healthcare
HCA
$102B
$124M 1.01%
2,600,000
– –
2013 Q2
2 quarters
LVNTA
38
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
$117M 0.95%
3,896,634
-1,945,460
-33% -$52.2M
2013 Q2
2 quarters
IWO icon
39
iShares Russell 2000 Growth ETF
IWO
$13.7B
$114M 0.93%
840,000
– –
2013 Q2
2 quarters
TFCFA
40
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
$95.1M 0.77%
2,704,311
-4,119,989
-60% -$139M
2013 Q3
1 quarter
CF icon
41
CF Industries
CF
$18B
$92.5M 0.75%
1,985,000
+599,000
+43% +$26.2M
2013 Q3
1 quarter
FDO
42
DELISTED
FAMILY DOLLAR STORES
FDO
$81.4M 0.66%
1,253,000
-600,000
-32% -$41.1M
2013 Q2
2 quarters
NWSA icon
43
News Corp Class A
NWSA
$16.3B
$79.2M 0.64%
4,393,573
– –
2013 Q3
1 quarter
CPWR
44
DELISTED
COMPUWARE CORP
CPWR
$78.3M 0.64%
7,272,560
– –
2013 Q2
2 quarters
LIFE icon
45
DELISTED
LIFE TECHNOLOGIES CORP COM STK (DE)
LIFE
$75.8M 0.62%
1,000,000
– –
2013 Q2
2 quarters
SPY icon
46
State Street SPDR S&P 500 ETF Trust
SPY
$816B
$73.3M 0.6%
396,958
– –
2013 Q2
2 quarters
EQC icon
47
DELISTED
Equity Commonwealth
EQC
$66.7M 0.54%
2,863,057
-894,718
-24% -$21.2M
2013 Q2
2 quarters
TSLA icon
48
Tesla
TSLA
$1.44T
$60.2M 0.49%
+6,000,000
New +$61.3M
2013 Q4
0 quarters
CSE
49
DELISTED
CAPITALSOURCE INC
CSE
$49.4M 0.4%
3,435,000
– –
2013 Q3
1 quarter
SD icon
50
DELISTED
SANDRIDGE ENERGY, INC.
SD
$48.6M 0.39%
8,000,000
-40,000
-0.5% -$239K
2013 Q2
2 quarters
1
2
3 4 5

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Highfields Capital Management's Q4 2013 Portfolio in Review

As of Q4 2013, Highfields Capital Management held 106 positions worth $12.3B, down 2.8% from $12.7B the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Highfields Capital Management's Q4 2013 filing shows 19 new, 13 increased, 18 reduced and 17 closed positions. Its largest new stake was Air Products & Chemicals: 1,981,180 shares worth $205M. The largest sale was Microsoft, an estimated $545M.

By sector, the portfolio is most concentrated in Financials at 27% of assets, up from 21% a quarter earlier, followed by Energy and Technology.

  • Highfields Capital Management's largest Q4 2013 buy was Air Products & Chemicals: 1,981,180 shares worth $205M.
  • Highfields Capital Management added most to Franklin Templeton in Q4 2013, an estimated $292M increase.
  • Highfields Capital Management's biggest Q4 2013 reduction was Microsoft, cutting an estimated $545M.
  • Highfields Capital Management fully exited Hess in Q4 2013, selling an estimated $273M.
  • Highfields Capital Management's ten largest holdings make up 44% of its $12.3B portfolio in Q4 2013.
  • Highfields Capital Management opened 19 new positions and closed 17 in Q4 2013.
  • Highfields Capital Management's portfolio value fell 2.8% quarter-over-quarter to $12.3B.

Based on Highfields Capital Management's 13F filing for Q4 2013, filed 14 Feb 2014.