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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
-$160M
Cap. Flow %
-1.3%
Top 10 Hldgs %
43.78%
Holding
106
New
19
Increased
13
Reduced
18
Closed
17

Top Buys

Rank Stock Value
1
BEN icon
Franklin Templeton
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

Rank Stock Value
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

Rank Sector Weight
1 Financials 27.07%
2 Energy 15.53%
3 Technology 12.46%
4 Miscellaneous 8.58%
5 Communication Services 7.08%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CNQ icon
1
Canadian Natural Resources
CNQ
$101B
$899M 7.31%
54,939,895
– –
MHFI
2
DELISTED
MCGRAW-HILL FINANCIAL INC COM
MHFI
$872M 7.09%
11,148,951
– –
BEN icon
3
Franklin Templeton
BEN
$17.6B
$715M 5.81%
12,376,895
+5,416,454
+78% +$292M
MSFT icon
4
Microsoft
MSFT
$3.81T
$610M 4.96%
16,297,747
-15,000,000
-48% -$545M
DTV
5
DELISTED
DIRECTV COM STK (DE)
DTV
$540M 4.39%
7,818,341
– –
ICE icon
6
Intercontinental Exchange
ICE
$91.1B
$516M 4.2%
11,478,885
+859,530
+8% +$35.4M
TWC
7
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
$347M 2.82%
2,558,645
– –
UPS icon
8
United Parcel Service
UPS
$89.6B
$308M 2.5%
2,927,510
– –
MDLZ icon
9
Mondelez International
MDLZ
$79.6B
$291M 2.36%
8,240,612
+2,000,000
+32% +$66.5M
APC
10
DELISTED
Anadarko Petroleum
APC
$290M 2.35%
3,650,966
-250,000
-6% -$22.4M
AIG icon
11
American International
AIG
$40.2B
$278M 2.26%
5,450,000
+550,000
+11% +$27.4M
IRM icon
12
Iron Mountain
IRM
$35B
$268M 2.18%
9,552,454
– –
BP icon
13
BP
BP
$109B
$262M 2.13%
6,583,440
+1,344,802
+26% +$50.1M
ASH icon
14
Ashland
ASH
$3.41B
$252M 2.04%
5,297,844
+2,849,338
+116% +$127M
YPF icon
15
YPF Sociedad Anonima ADS
YPF
$19.7B
$243M 1.97%
7,365,557
– –
FNF icon
16
Fidelity National Financial
FNF
$12.8B
$234M 1.9%
12,610,990
– –
FDX icon
17
FedEx
FDX
$78.3B
$229M 1.86%
1,592,700
– –
MET icon
18
MetLife
MET
$61.3B
$213M 1.73%
4,428,619
– –
B
19
Barrick Mining
B
$75.1B
$211M 1.72%
11,983,202
-1,066,798
-8% -$18.8M
APD icon
20
Air Products & Chemicals
APD
$68.6B
$205M 1.67%
+1,981,180
New +$200M
VOD icon
21
Vodafone
VOD
$37.1B
$197M 1.6%
4,909,604
– –
QCOM icon
22
Qualcomm
QCOM
$175B
$195M 1.58%
2,625,000
– –
SLM icon
23
SLM Corp
SLM
$4.97B
$193M 1.57%
20,598,551
-23,199,464
-53% -$213M
BRCM
24
DELISTED
BROADCOM CORP CL-A
BRCM
$188M 1.53%
+6,355,619
New +$173M
B
25
CALL
Barrick Mining
B
$75.1B
$182M 1.48%
10,314,900
+1,000,000
+11% +$17.6M
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's Q4 2013 filing shows 19 new, 13 increased, 18 reduced and 17 closed positions. Its largest new stake was Air Products & Chemicals: 1,981,180 shares worth $205M. The largest sale was Microsoft, an estimated $545M.

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

  • 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 Templeton 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.