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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
+8.07%
1 Year Est. Return
-21.64%
3 Year Est. Return
-4.74%
5 Year Est. Return
+9.61%
10 Year Est. Return
–
AUM
$13.6B
AUM Growth
+$1.68B
(+14%)
Cap. Flow
+$1.17B
Cap. Flow
% of AUM
8.61%
Top 10 Holdings %
Top 10 Hldgs %
46.31%
Holding
109
New
30
Increased
16
Reduced
14
Closed
18
Avg Time Held Equity + Options
0.5
years
Top 10 Avg Time Held Equity + Options
0.7
years
Top 20 Avg Time Held Equity + Options
0.6
years
Avg Time Held Equity only
0.6
years
Top 10 Avg Time Held Equity only
0.7
years
Top 20 Avg Time Held Equity only
0.6
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Herc Holdings
HRI
|
+$261M |
| 2 |
Eli Lilly
LLY
|
+$239M |
| 3 |
DTV
DIRECTV COM STK (DE)
DTV
|
+$230M |
| 4 |
MON
Monsanto Co
MON
|
+$186M |
| 5 |
Goldman Sachs
GS
|
+$155M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
RDS.A
Royal Dutch Shell PLC ADS Class A
RDS.A
|
+$224M |
| 2 |
BP
BP
|
+$157M |
| 3 |
AGN
Allergan Inc
AGN
|
+$138M |
| 4 |
Applied Materials
AMAT
|
+$136M |
| 5 |
ExxonMobil
XOM
|
+$122M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 25.98% |
| 2 | Miscellaneous | 11.09% |
| 3 | Technology | 10.98% |
| 4 | Materials | 10.58% |
| 5 | Energy | 10.28% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
76
McDonald's
MCD
$169B
| $25.2M | 0.18% |
+250,000
| New | +$25.2M |
2014 Q2
0 quarters
|
|
77
UnitedHealth
UNH
$355B
| $24.5M | 0.18% |
299,946
| – | – |
2013 Q2
4 quarters
|
|
78
DELISTED
Walgreens Boots Alliance
WBA
| $23.7M | 0.17% |
+320,204
| New | +$22.4M |
2014 Q2
0 quarters
|
|
79
Televisa
TV
$1.25B
| $12.5M | 0.09% |
365,000
| – | – |
2013 Q3
3 quarters
|
|
80
DELISTED
Superior Industries International
SUP
| $11.5M | 0.08% |
+560,000
| New | +$11.4M |
2014 Q2
0 quarters
|
|
|
DNKN
81
DELISTED
Dunkin' Brands Group, Inc.
DNKN
| $11.5M | 0.08% |
+250,000
| New | +$11.5M |
2014 Q2
0 quarters
|
|
82
PennyMac Mortgage Investment
PMT
$599M
| $11M | 0.08% |
500,000
| – | – |
2013 Q2
4 quarters
|
|
83
DELISTED
Noble Corporation
NE
| $10.6M | 0.08% |
+360,360
| New | +$9.9M |
2014 Q2
0 quarters
|
|
84
Micron Technology
MU
$1.03T
| $9.23M | 0.07% |
280,000
| – | – |
2013 Q3
3 quarters
|
|
85
Aramark
ARMK
$14.4B
| $5.95M | 0.04% |
318,139
-445,172
| -58% | -$8.68M |
2013 Q4
2 quarters
|
|
|
GG
86
CALL
DELISTED
Goldcorp Inc
GG
| $5.58M | 0.04% |
200,000
| – | – |
2014 Q1
1 quarter
|
|
|
CSFL
87
DELISTED
CenterState Bank Corporation Common Stock
CSFL
| $4.89M | 0.04% |
+436,535
| New | +$4.73M |
2014 Q2
0 quarters
|
|
|
RDS.A
88
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
| $3.31M | 0.02% |
43,001
-3,070,144
| -99% | -$224M |
2013 Q4
2 quarters
|
|
89
Northeast Bank
NBN
$1.06B
| $3.04M | 0.02% |
317,286
| – | – |
2013 Q2
4 quarters
|
|
|
CYHHZ
90
DELISTED
Community Health Systems, Inc. Series A Contingent Value Rights
CYHHZ
| $13K | ﹤0.01% |
199,320
| – | – |
2014 Q1
1 quarter
|
|
91
AutoNation
AN
$5.06B
| – | – |
-209,989
| Closed | -$11.2M | – |
|
92
Enbridge
ENB
$106B
| – | – |
-416,500
| Closed | -$19M | – |
|
93
Hyatt Hotels
H
$15.1B
| – | – |
-286,207
| Closed | -$15.4M | – |
|
94
SLM Corp
SLM
$4.17B
| – | – |
-10,457,170
| Closed | -$91.5M | – |
|
95
State Street SPDR S&P 500 ETF Trust
SPY
$813B
| – | – |
-396,958
| Closed | -$74.2M | – |
|
|
96
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$813B
| – | – |
-2,000,000
| Closed | -$374M | – |
|
97
Suncor Energy
SU
$88.8B
| – | – |
-305,000
| Closed | -$10.7M | – |
|
98
Tesla
TSLA
$1.45T
| – | – |
-7,719,000
| Closed | -$107M | – |
|
|
99
PUT
Tesla
TSLA
$1.45T
| – | – |
-2,700,000
| Closed | -$37.5M | – |
|
|
100
CALL
ExxonMobil
XOM
$728B
| – | – |
-800,000
| Closed | -$78.1M | – |
|
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Highfields Capital Management's Q2 2014 Portfolio in Review
As of Q2 2014, Highfields Capital Management held 109 positions worth $13.6B, up 14% from $11.9B the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Highfields Capital Management deployed $1.17B of net new capital in Q2 2014, opening 30 new positions and adding to 16 existing holdings. Its largest new stake was Herc Holdings: 3,095,000 shares worth $260M.
By sector, the portfolio is most concentrated in Financials at 26% of assets, down from 26% a quarter earlier, followed by Miscellaneous and Technology.
On the sell side, the largest reduction was Royal Dutch Shell PLC ADS Class A, an estimated $224M trimmed.
- Highfields Capital Management's largest Q2 2014 buy was Herc Holdings: 3,095,000 shares worth $260M.
- Highfields Capital Management added most to DIRECTV COM STK (DE) in Q2 2014, an estimated $230M increase.
- Highfields Capital Management's biggest Q2 2014 reduction was Royal Dutch Shell PLC ADS Class A, cutting an estimated $224M.
- Highfields Capital Management fully exited ExxonMobil in Q2 2014, selling an estimated $122M.
- Highfields Capital Management's ten largest holdings make up 46% of its $13.6B portfolio in Q2 2014.
- Highfields Capital Management opened 30 new positions and closed 18 in Q2 2014.
- Highfields Capital Management's portfolio value rose 14% quarter-over-quarter to $13.6B.
Based on Highfields Capital Management's 13F filing for Q2 2014, filed 14 Aug 2014.