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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
+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
Avg Time Held Equity + Options
0.4 years
Top 10 Avg Time Held Equity + Options
0.3 years
Top 20 Avg Time Held Equity + Options
0.3 years
Avg Time Held Equity only
0.4 years
Top 10 Avg Time Held Equity only
0.4 years
Top 20 Avg Time Held Equity only
0.4 years

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 icon
Hess
HES
+$273M
3
SLM icon
SLM Corp
SLM
+$213M
4
DELL icon
DELL INC
DELL
+$175M
5
PARA icon
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 Held Since
CNQ icon
1
Canadian Natural Resources
CNQ
$107B
$899M 7.31%
54,939,895
– –
2013 Q2
2 quarters
MHFI
2
DELISTED
MCGRAW-HILL FINANCIAL INC COM
MHFI
$872M 7.09%
11,148,951
– –
2013 Q2
2 quarters
BEN icon
3
Franklin Templeton
BEN
$15.5B
$715M 5.81%
12,376,895
+5,416,454
+78% +$292M
2013 Q2
2 quarters
MSFT icon
4
Microsoft
MSFT
$3.96T
$610M 4.96%
16,297,747
-15,000,000
-48% -$545M
2013 Q2
2 quarters
DTV
5
DELISTED
DIRECTV COM STK (DE)
DTV
$540M 4.39%
7,818,341
– –
2013 Q2
2 quarters
ICE icon
6
Intercontinental Exchange
ICE
$87.1B
$516M 4.2%
11,478,885
+859,530
+8% +$35.4M
2013 Q2
2 quarters
TWC
7
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
$347M 2.82%
2,558,645
– –
2013 Q2
2 quarters
UPS icon
8
United Parcel Service
UPS
$81.5B
$308M 2.5%
2,927,510
– –
2013 Q2
2 quarters
MDLZ icon
9
Mondelez International
MDLZ
$79.9B
$291M 2.36%
8,240,612
+2,000,000
+32% +$66.5M
2013 Q2
2 quarters
APC icon
10
DELISTED
Anadarko Petroleum
APC
$290M 2.35%
3,650,966
-250,000
-6% -$22.4M
2013 Q2
2 quarters
AIG icon
11
American International
AIG
$40.5B
$278M 2.26%
5,450,000
+550,000
+11% +$27.4M
2013 Q2
2 quarters
IRM icon
12
Iron Mountain
IRM
$33B
$268M 2.18%
9,552,454
– –
2013 Q2
2 quarters
BP icon
13
BP
BP
$126B
$262M 2.13%
6,583,440
+1,344,802
+26% +$50.1M
2013 Q2
2 quarters
ASH icon
14
Ashland
ASH
$3.27B
$252M 2.04%
5,297,844
+2,849,338
+116% +$127M
2013 Q3
1 quarter
YPF icon
15
YPF Sociedad Anonima ADS
YPF
$20.5B
$243M 1.97%
7,365,557
– –
2013 Q2
2 quarters
FNF icon
16
Fidelity National Financial
FNF
$10.5B
$234M 1.9%
12,610,990
– –
2013 Q2
2 quarters
FDX icon
17
FedEx
FDX
$68.9B
$229M 1.86%
1,592,700
– –
2013 Q2
2 quarters
MET icon
18
MetLife
MET
$63.4B
$213M 1.73%
4,428,619
– –
2013 Q2
2 quarters
B icon
19
Barrick Mining
B
$64B
$211M 1.72%
11,983,202
-1,066,798
-8% -$18.8M
2013 Q2
2 quarters
APD icon
20
Air Products & Chemicals
APD
$65.1B
$205M 1.67%
+1,981,180
New +$200M
2013 Q4
0 quarters
VOD icon
21
Vodafone
VOD
$35.9B
$197M 1.6%
4,909,604
– –
2013 Q2
2 quarters
QCOM icon
22
Qualcomm
QCOM
$184B
$195M 1.58%
2,625,000
– –
2013 Q2
2 quarters
SLM icon
23
SLM Corp
SLM
$4.17B
$193M 1.57%
20,598,551
-23,199,464
-53% -$213M
2013 Q2
2 quarters
BRCM
24
DELISTED
BROADCOM CORP CL-A
BRCM
$188M 1.53%
+6,355,619
New +$173M
2013 Q4
0 quarters
B icon
25
CALL
Barrick Mining
B
$64B
$182M 1.48%
10,314,900
+1,000,000
+11% +$17.6M
2013 Q2
2 quarters
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.