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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 | |
|---|---|---|---|---|---|---|---|
76
CALL
Air Products & Chemicals
APD
$65.7B
| – | – |
-378,350
| Closed | -$45.6M | – |
|
77
Aramark
ARMK
$14B
| – | – |
-318,139
| Closed | -$6.04M | – |
|
|
78
Ashland
ASH
$3.28B
| – | – |
-4,326,645
| Closed | -$220M | – |
|
79
Alibaba
BABA
$271B
| – | – |
-730,000
| Closed | -$64.9M | – |
|
80
Coca-Cola Europacific Partners
CCEP
$48.5B
| – | – |
-994,000
| Closed | -$44.1M | – |
|
|
81
Canadian Natural Resources
CNQ
$106B
| – | – |
-20,279,839
| Closed | -$381M | – |
|
82
PUT
Salesforce
CRM
$197B
| – | – |
-150,000
| Closed | -$8.63M | – |
|
83
Fossil Group
FOSL
$403M
| – | – |
-958,344
| Closed | -$90M | – |
|
84
Goldman Sachs
GS
$251B
| – | – |
-960,000
| Closed | -$176M | – |
|
85
DELISTED
Nordstrom
JWN
| – | – |
-390,841
| Closed | -$26.7M | – |
|
86
Mondelez International
MDLZ
$82.3B
| – | – |
-670,490
| Closed | -$23M | – |
|
87
Northeast Bank
NBN
$1.07B
| – | – |
-317,286
| Closed | -$2.94M | – |
|
88
NRG Energy
NRG
$20.5B
| – | – |
-200,000
| Closed | -$6.1M | – |
|
89
TransAlta
TAC
$3.91B
| – | – |
-500,000
| Closed | -$5.26M | – |
|
90
DELISTED
Berry Global Group, Inc.
BERY
| – | – |
-1,089,000
| Closed | -$25.2M | – |
|
|
DNKN
91
DELISTED
Dunkin' Brands Group, Inc.
DNKN
| – | – |
-250,000
| Closed | -$11.2M | – |
|
|
TWX
92
DELISTED
Time Warner Inc
TWX
| – | – |
-2,799,264
| Closed | -$211M | – |
|
93
CALL
DELISTED
SANDISK CORP
SNDK
| – | – |
-689,400
| Closed | -$67.5M | – |
|
|
94
DELISTED
SANDISK CORP
SNDK
| – | – |
-269,293
| Closed | -$26.4M | – |
|
|
CPWR
95
DELISTED
COMPUWARE CORP
CPWR
| – | – |
-7,272,560
| Closed | -$74.1M | – |
|
|
THI
96
DELISTED
TIM HORTONS INC COM, CANADA
THI
| – | – |
-2,290,956
| Closed | -$181M | – |
|
|
TWTC
97
DELISTED
TW TELECOM INC CL A COM
TWTC
| – | – |
-3,756,587
| Closed | -$156M | – |
|
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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.