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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
+5.29%
1 Year Est. Return
-21.64%
3 Year Est. Return
-4.74%
5 Year Est. Return
+9.61%
10 Year Est. Return
–
AUM
$11.8B
AUM Growth
-$1.06B
Cap. Flow
-$1.45B
Cap. Flow %
-12.3%
Top 10 Hldgs %
51.81%
Holding
98
New
7
Increased
16
Reduced
17
Closed
23
Avg Time Held Equity + Options
0.8 years
Top 10 Avg Time Held Equity + Options
0.8 years
Top 20 Avg Time Held Equity + Options
0.7 years
Avg Time Held Equity only
0.8 years
Top 10 Avg Time Held Equity only
0.8 years
Top 20 Avg Time Held Equity only
0.8 years

Top Buys

Rank Stock Value
1
PARA icon
Paramount Global Class B
PARA
+$413M
2
APC icon
Anadarko Petroleum
APC
+$264M
3
RDS.A
Royal Dutch Shell PLC ADS Class A
RDS.A
+$195M
4
DD icon
DuPont de Nemours
DD
+$154M
5
DTV
DIRECTV COM STK (DE)
DTV
+$129M

Top Sells

Rank Stock Value
1
CNQ icon
Canadian Natural Resources
CNQ
+$381M
2
IRM icon
Iron Mountain
IRM
+$326M
3
ASH icon
Ashland
ASH
+$220M
4
TWX
Time Warner Inc
TWX
+$211M
5
DLTR icon
Dollar Tree
DLTR
+$201M

Sector Composition

Rank Sector Weight
1 Financials 24.61%
2 Technology 13.6%
3 Communication Services 11.88%
4 Healthcare 9.95%
5 Materials 9.33%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
ONIT icon
26
Onity Group
ONIT
$212M
$133M 1.13%
585,627
+7,360
+1% +$2.4M
2014 Q1
3 quarters
SKM icon
27
SK Telecom
SKM
$13B
$120M 1.02%
2,688,214
– –
2014 Q2
2 quarters
IWO icon
28
iShares Russell 2000 Growth ETF
IWO
$13.5B
$120M 1.02%
840,000
– –
2013 Q2
6 quarters
VOD icon
29
Vodafone
VOD
$35.9B
$114M 0.97%
3,338,282
– –
2013 Q2
6 quarters
ISBC
30
DELISTED
Investors Bancorp, Inc.
ISBC
$104M 0.89%
9,286,906
– –
2014 Q2
2 quarters
FNF icon
31
Fidelity National Financial
FNF
$10.5B
$104M 0.88%
4,342,388
-369,737
-8% -$7.85M
2013 Q2
6 quarters
AMAT icon
32
Applied Materials
AMAT
$354B
$99.7M 0.85%
4,000,000
– –
2013 Q4
4 quarters
B icon
33
CALL
Barrick Mining
B
$64B
$78.6M 0.67%
7,314,900
– –
2013 Q2
6 quarters
MCD icon
34
McDonald's
MCD
$169B
$72M 0.61%
768,508
+518,508
+207% +$48.5M
2014 Q2
2 quarters
RL icon
35
Ralph Lauren
RL
$22.4B
$70.8M 0.6%
382,308
-192,592
-34% -$33.2M
2014 Q1
3 quarters
FNFV
36
DELISTED
Fidelity Natl Financial, Inc.
FNFV
$69.3M 0.59%
5,773,400
+567,177
+11% +$6.09M
2014 Q3
1 quarter
YPF icon
37
YPF Sociedad Anonima ADS
YPF
$20.5B
$69M 0.59%
2,605,719
-512,350
-16% -$15.9M
2013 Q2
6 quarters
NWSA icon
38
News Corp Class A
NWSA
$15.9B
$68.9M 0.59%
4,393,573
– –
2013 Q3
5 quarters
HOT
39
DELISTED
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
$54.7M 0.47%
675,000
-1,358,000
-67% -$106M
2014 Q2
2 quarters
LDOS icon
40
Leidos
LDOS
$15.1B
$47M 0.4%
1,080,000
– –
2014 Q3
1 quarter
QVCGA
41
DELISTED
QVC Group Inc Series A
QVCGA
$45.6M 0.39%
31,951
+9,404
+42% +$12.4M
2013 Q4
4 quarters
AWK icon
42
American Water Works
AWK
$26.2B
$45.3M 0.39%
850,000
– –
2014 Q2
2 quarters
IPXL
43
DELISTED
Impax Laboratories, Inc.
IPXL
$44.4M 0.38%
1,400,000
– –
2014 Q2
2 quarters
PRKS icon
44
United Parks & Resorts
PRKS
$1.47B
$43.2M 0.37%
2,411,594
-108,811
-4% -$1.91M
2013 Q2
6 quarters
WTS icon
45
Watts Water Technologies
WTS
$11.8B
$42.8M 0.36%
675,000
– –
2014 Q2
2 quarters
LLY icon
46
CALL
Eli Lilly
LLY
$1.08T
$37.9M 0.32%
550,000
-105,100
-16% -$7.09M
2014 Q2
2 quarters
VWO icon
47
Vanguard FTSE Emerging Markets ETF
VWO
$124B
$33.6M 0.29%
840,000
– –
2013 Q2
6 quarters
C icon
48
Citigroup
C
$205B
$33.3M 0.28%
615,500
-455,000
-43% -$24.2M
2013 Q2
6 quarters
EQY
49
DELISTED
Equity One
EQY
$33M 0.28%
1,300,000
– –
2014 Q2
2 quarters
RYN icon
50
Rayonier
RYN
$5.55B
$31.4M 0.27%
1,240,006
– –
2014 Q2
2 quarters
1
2
3 4

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Highfields Capital Management's Q4 2014 Portfolio in Review

As of Q4 2014, Highfields Capital Management held 98 positions worth $11.8B, down 8.3% from $12.8B the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Highfields Capital Management withdrew a net $1.45B in Q4 2014, closing 23 positions and reducing 17 holdings. Its most notable exit was Canadian Natural Resources, an estimated $381M position sold in full.

By sector, the portfolio is most concentrated in Financials at 25% of assets, up from 24% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Highfields Capital Management opened a new position in DuPont de Nemours worth $146M.

  • Highfields Capital Management's largest Q4 2014 buy was DuPont de Nemours: 1,263,620 shares worth $146M.
  • Highfields Capital Management added most to Paramount Global Class B in Q4 2014, an estimated $413M increase.
  • Highfields Capital Management's biggest Q4 2014 reduction was Iron Mountain, cutting an estimated $326M.
  • Highfields Capital Management fully exited Canadian Natural Resources in Q4 2014, selling an estimated $381M.
  • Highfields Capital Management's ten largest holdings make up 52% of its $11.8B portfolio in Q4 2014.
  • Highfields Capital Management opened 7 new positions and closed 23 in Q4 2014.
  • Highfields Capital Management's portfolio value fell 8.3% quarter-over-quarter to $11.8B.

Based on Highfields Capital Management's 13F filing for Q4 2014, filed 13 Feb 2015.