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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
(-8.3%)
Cap. Flow
-$1.45B
Cap. Flow
% of AUM
-12.3%
Top 10 Holdings %
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 |
Paramount Global Class B
PARA
|
+$413M |
| 2 |
Anadarko Petroleum
APC
|
+$264M |
| 3 |
RDS.A
Royal Dutch Shell PLC ADS Class A
RDS.A
|
+$195M |
| 4 |
DuPont de Nemours
DD
|
+$154M |
| 5 |
DTV
DIRECTV COM STK (DE)
DTV
|
+$129M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Canadian Natural Resources
CNQ
|
+$381M |
| 2 |
Iron Mountain
IRM
|
+$326M |
| 3 |
Ashland
ASH
|
+$220M |
| 4 |
TWX
Time Warner Inc
TWX
|
+$211M |
| 5 |
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 | |
|---|---|---|---|---|---|---|---|
51
UnitedHealth
UNH
$368B
| $30.3M | 0.26% |
299,946
| – | – |
2013 Q2
6 quarters
|
|
52
Qualcomm
QCOM
$188B
| $29.7M | 0.25% |
400,000
| – | – |
2013 Q2
6 quarters
|
|
53
KBR
KBR
$4.57B
| $27.9M | 0.24% |
1,645,000
| – | – |
2014 Q2
2 quarters
|
|
|
CERN
54
DELISTED
Cerner Corp
CERN
| $25.2M | 0.21% |
389,952
| – | – |
2013 Q2
6 quarters
|
|
55
CALL
Applied Materials
AMAT
$339B
| $24.9M | 0.21% |
1,000,000
| – | – |
2013 Q4
4 quarters
|
|
56
CALL
Enbridge
ENB
$104B
| $23.5M | 0.2% |
457,200
| – | – |
2014 Q3
1 quarter
|
|
57
Televisa
TV
$1.3B
| $23.2M | 0.2% |
680,200
+315,200
| +86% | +$10.9M |
2013 Q3
5 quarters
|
|
|
WPX
58
DELISTED
WPX Energy, Inc.
WPX
| $22.1M | 0.19% |
1,900,000
| – | – |
2014 Q2
2 quarters
|
|
59
CONMED
CNMD
$1.41B
| $22M | 0.19% |
490,000
| – | – |
2014 Q3
1 quarter
|
|
|
ESV
60
DELISTED
Ensco Rowan plc
ESV
| $21.9M | 0.19% |
183,000
| – | – |
2014 Q2
2 quarters
|
|
61
Tesla
TSLA
$1.43T
| $20.3M | 0.17% |
+1,369,440
| New | +$21.4M |
2014 Q4
0 quarters
|
|
62
BP
BP
$126B
| $16.9M | 0.14% |
535,396
-7,699
| -1% | -$259K |
2013 Q2
6 quarters
|
|
|
ZAYO
63
DELISTED
Zayo Group Holdings, Inc.
ZAYO
| $15.3M | 0.13% |
+500,000
| New | +$13M |
2014 Q4
0 quarters
|
|
|
RSX
64
DELISTED
VanEck Russia ETF
RSX
| $14.3M | 0.12% |
977,602
| – | – |
2014 Q1
3 quarters
|
|
65
DELISTED
Superior Industries International
SUP
| $11.1M | 0.09% |
560,000
| – | – |
2014 Q2
2 quarters
|
|
66
Zoetis
ZTS
$32.5B
| $10.8M | 0.09% |
+252,000
| New | +$10.2M |
2014 Q4
0 quarters
|
|
67
PennyMac Mortgage Investment
PMT
$630M
| $10.5M | 0.09% |
500,000
| – | – |
2013 Q2
6 quarters
|
|
68
Packaging Corp of America
PKG
$20.9B
| $9.17M | 0.08% |
117,500
| – | – |
2014 Q3
1 quarter
|
|
69
CALL
Vale
VALE
$56.1B
| $8.18M | 0.07% |
1,000,000
| – | – |
2014 Q3
1 quarter
|
|
70
Visteon
VC
$2.36B
| $8.02M | 0.07% |
+75,000
| New | +$7.24M |
2014 Q4
0 quarters
|
|
|
LVNTA
71
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
| $4.97M | 0.04% |
+131,649
| New | +$4.6M |
2014 Q4
0 quarters
|
|
|
GG
72
CALL
DELISTED
Goldcorp Inc
GG
| $3.7M | 0.03% |
200,000
| – | – |
2014 Q1
3 quarters
|
|
|
COVS
73
DELISTED
Covisint Corporation
COVS
| $2.6M | 0.02% |
+979,835
| New | +$2.81M |
2014 Q4
0 quarters
|
|
|
CYHHZ
74
DELISTED
Community Health Systems, Inc. Series A Contingent Value Rights
CYHHZ
| $5K | ﹤0.01% |
199,320
| – | – |
2014 Q1
3 quarters
|
|
75
American International
AIG
$41.3B
| – | – |
-3,030,000
| Closed | -$164M | – |
|
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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.