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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
-$433M
Cap. Flow %
-3.42%
Top 10 Hldgs %
46.92%
Holding
106
New
18
Increased
13
Reduced
20
Closed
19

Top Buys

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

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

1 Financials 21.08%
2 Technology 14.92%
3 Energy 11.83%
4 Communication Services 8.09%
5 Industrials 4.39%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CF icon
51
CF Industries
CF
$18.2B
$58.4M 0.46%
+1,386,000
New +$53.1M
FOSL icon
52
Fossil Group
FOSL
$249M
$58.1M 0.46%
500,000
– –
BPO
53
DELISTED
BROOKFIELD OFFICE PROPERTIES. INC
BPO
$51.3M 0.41%
+2,689,500
New +$44.9M
CCEP icon
54
Coca-Cola Europacific Partners
CCEP
$46.9B
$47.6M 0.38%
1,183,000
-252,000
-18% -$9.6M
SD
55
DELISTED
SANDRIDGE ENERGY, INC.
SD
$47.1M 0.37%
8,040,000
-5,300,000
-40% -$28.4M
CSE
56
DELISTED
CAPITALSOURCE INC
CSE
$40.8M 0.32%
+3,435,000
New +$38.9M
H icon
57
Hyatt Hotels
H
$17.8B
$39.1M 0.31%
910,000
– –
COF icon
58
Capital One
COF
$131B
$34.4M 0.27%
500,000
-500,000
-50% -$33.6M
VWO icon
59
Vanguard FTSE Emerging Markets ETF
VWO
$121B
$33.7M 0.27%
840,000
– –
KBE icon
60
State Street SPDR S&P Bank ETF
KBE
$1.59B
$33.6M 0.27%
1,118,000
– –
VRSN icon
61
CALL
VeriSign
VRSN
$25B
$30.5M 0.24%
600,000
– –
WEN icon
62
Wendy's
WEN
$1.49B
$30M 0.24%
3,542,547
– –
JCP
63
DELISTED
J.C. Penney Company, Inc.
JCP
$28.7M 0.23%
+3,250,000
New +$46.4M
UNH icon
64
UnitedHealth
UNH
$384B
$28.5M 0.22%
397,445
-952,501
-71% -$68.2M
BUD icon
65
AB InBev
BUD
$157B
$28M 0.22%
+282,000
New +$26.9M
DLR icon
66
PUT
Digital Realty Trust
DLR
$64.2B
$26.6M 0.21%
500,000
-500,000
-50% -$28.4M
VYX icon
67
NCR Voyix
VYX
$1.14B
$26.5M 0.21%
1,092,100
– –
ADT
68
DELISTED
ADT Corp
ADT
$21.7M 0.17%
534,725
-535,000
-50% -$22M
PRKS icon
69
United Parks & Resorts
PRKS
$2.22B
$19.9M 0.16%
671,497
+384,162
+134% +$13.1M
CERN
70
DELISTED
Cerner Corp
CERN
$17.6M 0.14%
334,682
– –
BXMT icon
71
Blackstone Mortgage Trust
BXMT
$2.93B
$15.1M 0.12%
600,000
– –
WMB icon
72
Williams Companies
WMB
$91.4B
$13.7M 0.11%
375,714
– –
C icon
73
Citigroup
C
$221B
$12.4M 0.1%
255,000
– –
HTH icon
74
Hilltop Holdings
HTH
$2.31B
$11.5M 0.09%
623,622
– –
PMT
75
PennyMac Mortgage Investment
PMT
$880M
$11.3M 0.09%
500,000
– –
1 2
3
4 5

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HCS
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SCG
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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 $433M 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 Technology and Energy.

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.