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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
+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
-$1.63B
Cap. Flow %
-13.27%
Top 10 Hldgs %
43.78%
Holding
106
New
19
Increased
13
Reduced
18
Closed
17

Top Buys

1
BEN icon
Franklin Resources
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

1
MSFT icon
Microsoft
MSFT
+$545M
2
HES
Hess
HES
+$273M
3
SLM icon
SLM Corp
SLM
+$213M
4
DELL
DELL INC
DELL
+$175M
5
PARA
Paramount Global Class B
PARA
+$144M

Sector Composition

1 Financials 26.97%
2 Energy 13.18%
3 Technology 12.46%
4 Communication Services 7.08%
5 Materials 6.55%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PMT
76
PennyMac Mortgage Investment
PMT
$880M
$11.5M 0.09%
500,000
– –
BEAM
77
DELISTED
BEAM INC COM STK (DE)
BEAM
$11M 0.09%
161,000
– –
BNCL
78
DELISTED
Beneficial Bancorp, Inc.
BNCL
$10.9M 0.09%
1,100,604
– –
WYNN icon
79
Wynn Resorts
WYNN
$10.2B
$9.71M 0.08%
+50,000
New +$8.53M
MU icon
80
Micron Technology
MU
$964B
$8.81M 0.07%
405,000
-3,150,000
-89% -$61.2M
TV icon
81
Televisa
TV
$1.42B
$8.32M 0.07%
275,000
– –
TRQ.RT
82
DELISTED
TURQUOISE HILL RES LTD RTS EXP 01/07/2014 (DE)
TRQ.RT
$6.6M 0.05%
+7,016,418
New +$6.14M
VC icon
83
Visteon
VC
$2.84B
$6.15M 0.05%
75,150
-1,559,195
-95% -$120M
BERY
84
DELISTED
Berry Global Group, Inc.
BERY
$4.69M 0.04%
214,498
-201,500
-48% -$3.83M
GD icon
85
CALL
General Dynamics
GD
$99.7B
$4.33M 0.04%
+200,000
New +$17.9M
NBN icon
86
Northeast Bank
NBN
$1.17B
$3.04M 0.02%
317,286
– –
HMA
87
DELISTED
HEALTH MGMT ASSOC INC CL-A
HMA
$2.61M 0.02%
+199,320
New +$2.58M
HBOS
88
DELISTED
HERITAGE FINANCIAL GROUP
HBOS
$722K 0.01%
37,500
– –
AAPL icon
89
Apple
AAPL
$4.89T
– –
-6,692,000
Closed -$114M
BUD icon
90
AB InBev
BUD
$157B
– –
-282,000
Closed -$28M
BXMT icon
91
Blackstone Mortgage Trust
BXMT
$2.93B
– –
-600,000
Closed -$15.1M
DLR icon
92
PUT
Digital Realty Trust
DLR
$64.2B
– –
-500,000
Closed -$26.6M
GLD icon
93
CALL
SPDR Gold Trust
GLD
$129B
– –
-8,500,000
Closed -$1.09B
HES
94
DELISTED
Hess
HES
– –
-3,533,480
Closed -$273M
PARA
95
DELISTED
Paramount Global Class B
PARA
– –
-2,603,941
Closed -$144M
TSLA icon
96
PUT
Tesla
TSLA
$1.47T
– –
-6,000,000
Closed -$77.4M
TT icon
97
Trane Technologies
TT
$105B
– –
-1,647,345
Closed -$85.4M
VYX icon
98
NCR Voyix
VYX
$1.14B
– –
-1,092,100
Closed -$26.5M
WBA
99
DELISTED
Walgreens Boots Alliance
WBA
– –
-155,000
Closed -$8.34M
WMB icon
100
Williams Companies
WMB
$91.4B
– –
-375,714
Closed -$13.7M
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 withdrew a net $1.63B in Q4 2013, closing 17 positions and reducing 18 holdings. Its most notable exit was Hess, an estimated $273M position sold in full.

By sector, the portfolio is most concentrated in Financials at 27% of assets, up from 21% a quarter earlier, followed by Energy and Technology.

Against the trend, Highfields Capital Management opened a new position in Air Products & Chemicals worth $205M.

  • 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 Resources 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.