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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
+2.07%
1 Year Est. Return
-21.64%
3 Year Est. Return
-4.74%
5 Year Est. Return
+9.61%
10 Year Est. Return
–
AUM
$11.9B
AUM Growth
-$367M
Cap. Flow
-$1.26B
Cap. Flow %
-10.58%
Top 10 Hldgs %
44.81%
Holding
110
New
21
Increased
16
Reduced
17
Closed
31

Top Buys

Rank Stock Value
1
MON
Monsanto Co
MON
+$408M
2
TEVA icon
Teva Pharmaceuticals
TEVA
+$277M
3
ICE icon
Intercontinental Exchange
ICE
+$254M
4
EBAY icon
eBay
EBAY
+$221M
5
C icon
Citigroup
C
+$141M

Top Sells

Rank Stock Value
1
MSFT icon
Microsoft
MSFT
+$313M
2
UPS icon
United Parcel Service
UPS
+$308M
3
B
Barrick Mining
B
+$232M
4
FDX icon
FedEx
FDX
+$229M
5
MHFI
MCGRAW-HILL FINANCIAL INC COM
MHFI
+$192M

Sector Composition

Rank Sector Weight
1 Financials 26.34%
2 Energy 15.33%
3 Miscellaneous 14.43%
4 Technology 11.35%
5 Materials 8.63%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TRQ
101
DELISTED
Turquoise Hill Resources Ltd
TRQ
– –
-801,642
Closed -$26.5M
TFCFA
102
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
– –
-2,704,311
Closed -$95.1M
BNCL
103
DELISTED
Beneficial Bancorp, Inc.
BNCL
– –
-1,100,604
Closed -$10.9M
HBOS
104
DELISTED
HERITAGE FINANCIAL GROUP
HBOS
– –
-37,500
Closed -$722K
BPO
105
DELISTED
BROOKFIELD OFFICE PROPERTIES. INC
BPO
– –
-879,500
Closed -$16.9M
CSE
106
DELISTED
CAPITALSOURCE INC
CSE
– –
-3,435,000
Closed -$49.4M
LIFE
107
DELISTED
LIFE TECHNOLOGIES CORP COM STK (DE)
LIFE
– –
-1,000,000
Closed -$75.8M
HMA
108
DELISTED
HEALTH MGMT ASSOC INC CL-A
HMA
– –
-199,320
Closed -$2.61M
TRQ.RT
109
DELISTED
TURQUOISE HILL RES LTD RTS EXP 01/07/2014 (DE)
TRQ.RT
– –
-7,016,418
Closed -$6.6M
1 2 3 4
5

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Highfields Capital Management's Q1 2014 Portfolio in Review

As of Q1 2014, Highfields Capital Management held 110 positions worth $11.9B, down 3% from $12.3B the previous quarter. Its ten largest holdings account for 45% of the portfolio.

Highfields Capital Management withdrew a net $1.26B in Q1 2014, closing 31 positions and reducing 17 holdings. Its most notable exit was United Parcel Service, an estimated $308M position sold in full.

By sector, the portfolio is most concentrated in Financials at 26% of assets, down from 27% a quarter earlier, followed by Energy and Miscellaneous.

Against the trend, Highfields Capital Management opened a new position in Monsanto Co worth $417M.

  • Highfields Capital Management's largest Q1 2014 buy was Monsanto Co: 3,661,000 shares worth $417M.
  • Highfields Capital Management added most to Intercontinental Exchange in Q1 2014, an estimated $254M increase.
  • Highfields Capital Management's biggest Q1 2014 reduction was Microsoft, cutting an estimated $313M.
  • Highfields Capital Management fully exited United Parcel Service in Q1 2014, selling an estimated $308M.
  • Highfields Capital Management's ten largest holdings make up 45% of its $11.9B portfolio in Q1 2014.
  • Highfields Capital Management opened 21 new positions and closed 31 in Q1 2014.
  • Highfields Capital Management's portfolio value fell 3% quarter-over-quarter to $11.9B.

Based on Highfields Capital Management's 13F filing for Q1 2014, filed 15 May 2014.