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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
ARMK icon
51
Aramark
ARMK
$14.6B
$42M 0.34%
+2,216,000
New +$39.1M
2013 Q4
0 quarters
COF icon
52
Capital One
COF
$125B
$38.3M 0.31%
500,000
– –
2013 Q2
2 quarters
KBE icon
53
State Street SPDR S&P Bank ETF
KBE
$1.5B
$37.1M 0.3%
1,118,000
– –
2013 Q2
2 quarters
ODP icon
54
DELISTED
ODP
ODP
$36.2M 0.29%
+685,000
New +$36.3M
2013 Q4
0 quarters
VRSN icon
55
CALL
VeriSign
VRSN
$27.4B
$35.9M 0.29%
600,000
– –
2013 Q2
2 quarters
AMAT icon
56
CALL
Applied Materials
AMAT
$334B
$35.4M 0.29%
+2,000,000
New +$34.9M
2013 Q4
0 quarters
H icon
57
Hyatt Hotels
H
$16.3B
$34.9M 0.28%
705,000
-205,000
-23% -$9.66M
2013 Q2
2 quarters
VWO icon
58
Vanguard FTSE Emerging Markets ETF
VWO
$123B
$34.6M 0.28%
840,000
– –
2013 Q2
2 quarters
PRKS icon
59
United Parks & Resorts
PRKS
$1.5B
$33.7M 0.27%
1,171,497
+500,000
+74% +$14.9M
2013 Q2
2 quarters
CCEP icon
60
Coca-Cola Europacific Partners
CCEP
$49B
$31.1M 0.25%
705,000
-478,000
-40% -$20M
2013 Q2
2 quarters
WEN icon
61
Wendy's
WEN
$1.27B
$30.9M 0.25%
3,542,547
– –
2013 Q2
2 quarters
FOSL icon
62
Fossil Group
FOSL
$427M
$30M 0.24%
250,000
-250,000
-50% -$30.9M
2013 Q2
2 quarters
JCP
63
DELISTED
J.C. Penney Company, Inc.
JCP
$29.7M 0.24%
3,250,000
– –
2013 Q3
1 quarter
TRQ
64
DELISTED
Turquoise Hill Resources Ltd
TRQ
$26.5M 0.22%
801,642
+474,759
+145% +$16M
2013 Q2
2 quarters
UNH icon
65
UnitedHealth
UNH
$358B
$22.6M 0.18%
299,946
-97,499
-25% -$7M
2013 Q2
2 quarters
QVCGA
66
DELISTED
QVC Group Inc Series A
QVCGA
$21.6M 0.18%
+17,921
New +$19.9M
2013 Q4
0 quarters
CERN
67
DELISTED
Cerner Corp
CERN
$18.7M 0.15%
334,682
– –
2013 Q2
2 quarters
MU icon
68
CALL
Micron Technology
MU
$1.01T
$17.4M 0.14%
800,000
-12,987,305
-94% -$252M
2013 Q3
1 quarter
BPO
69
DELISTED
BROOKFIELD OFFICE PROPERTIES. INC
BPO
$16.9M 0.14%
879,500
-1,810,000
-67% -$34.5M
2013 Q3
1 quarter
FCX icon
70
Freeport-McMoran
FCX
$102B
$15M 0.12%
+398,000
New +$14.1M
2013 Q4
0 quarters
HTH icon
71
Hilltop Holdings
HTH
$2.13B
$14.4M 0.12%
623,622
– –
2013 Q2
2 quarters
TNL icon
72
Travel + Leisure Co
TNL
$4.07B
$13.6M 0.11%
409,775
+55,375
+16% +$1.69M
2013 Q3
1 quarter
C icon
73
Citigroup
C
$211B
$13.3M 0.11%
255,000
– –
2013 Q2
2 quarters
PACW
74
DELISTED
PacWest Bancorp
PACW
$12.4M 0.1%
294,000
– –
2013 Q3
1 quarter
GDXJ icon
75
VanEck Junior Gold Miners ETF
GDXJ
$8.24B
$11.6M 0.09%
+373,600
New +$12.9M
2013 Q4
0 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.