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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
(+4.9%)
Cap. Flow
-$429M
Cap. Flow
% of AUM
-3.39%
Top 10 Holdings %
Top 10 Hldgs %
46.92%
Holding
106
New
18
Increased
13
Reduced
20
Closed
19
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$865M |
| 2 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$215M |
| 3 |
FedEx
FDX
|
+$118M |
| 4 |
Ashland
ASH
|
+$106M |
| 5 |
JWN
Nordstrom
JWN
|
+$74.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NWSA
NEWS CORPORATION CL-A
NWSA
|
+$506M |
| 2 |
DELL
DELL INC
DELL
|
+$272M |
| 3 |
SLM Corp
SLM
|
+$234M |
| 4 |
Illumina
ILMN
|
+$111M |
| 5 |
Oracle
ORCL
|
+$104M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 21.16% |
| 2 | Miscellaneous | 19.31% |
| 3 | Technology | 14.92% |
| 4 | Energy | 14.69% |
| 5 | Communication Services | 8.09% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
TRQ
76
DELISTED
Turquoise Hill Resources Ltd
TRQ
| $11.1M | 0.09% |
326,883
-142,890
| -30% | -$5.63M |
|
|
BEAM
77
DELISTED
BEAM INC COM STK (DE)
BEAM
| $10.4M | 0.08% |
+161,000
| New | +$10.3M |
|
|
PACW
78
DELISTED
PacWest Bancorp
PACW
| $10.1M | 0.08% |
+294,000
| New | +$9.96M |
|
|
BNCL
79
DELISTED
Beneficial Bancorp, Inc.
BNCL
| $9.98M | 0.08% |
1,100,604
| – | – |
|
80
Travel + Leisure Co
TNL
$4.06B
| $9.76M | 0.08% |
+354,400
| New | +$9.7M |
|
|
WBA
81
DELISTED
Walgreens Boots Alliance
WBA
| $8.34M | 0.07% |
+155,000
| New | +$7.79M |
|
82
Televisa
TV
$1.39B
| $7.69M | 0.06% |
+275,000
| New | +$7.36M |
|
|
BERY
83
DELISTED
Berry Global Group, Inc.
BERY
| $7.63M | 0.06% |
+415,998
| New | +$8.66M |
|
84
PUT
Zillow
ZG
$7.94B
| $4.22M | 0.03% |
+150,000
| New | +$4.14M |
|
85
Northeast Bank
NBN
$1.14B
| $3.2M | 0.03% |
317,286
| – | – |
|
|
HBOS
86
DELISTED
HERITAGE FINANCIAL GROUP
HBOS
| $653K | 0.01% |
37,500
| – | – |
|
87
Aon
AON
$68.5B
| – | – |
-348,000
| Closed | -$22.4M |
|
88
PUT
Salesforce
CRM
$213B
| – | – |
-441,000
| Closed | -$16.8M |
|
89
Enbridge
ENB
$109B
| – | – |
-800,000
| Closed | -$33.6M |
|
|
90
CALL
FedEx
FDX
$76.3B
| – | – |
-592,700
| Closed | -$58.4M |
|
91
SPDR Gold Trust
GLD
$150B
| – | – |
-500,000
| Closed | -$64.2M |
|
92
Genworth Financial
GNW
$3.91B
| – | – |
-2,703,208
| Closed | -$30.8M |
|
|
93
Illumina
ILMN
$33B
| – | – |
-1,529,579
| Closed | -$111M |
|
94
JPMorgan Chase
JPM
$953B
| – | – |
-1,904,469
| Closed | -$101M |
|
|
95
Oracle
ORCL
$457B
| – | – |
-3,398,350
| Closed | -$104M |
|
96
Post Holdings
POST
$3.84B
| – | – |
-923,934
| Closed | -$26.4M |
|
97
CALL
SLB Ltd
SLB
$85.3B
| – | – |
-1,000,000
| Closed | -$71.7M |
|
|
98
SLB Ltd
SLB
$85.3B
| – | – |
-730,300
| Closed | -$52.3M |
|
99
PUT
AT&T
T
$176B
| – | – |
-6,620,000
| Closed | -$177M |
|
100
Teva Pharmaceuticals
TEVA
$42.4B
| – | – |
-1,539,728
| Closed | -$60.4M |
|
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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 $429M 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 Miscellaneous and Technology.
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.