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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
(-3%)
Cap. Flow
-$1.26B
Cap. Flow
% of AUM
-10.58%
Top 10 Holdings %
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 Pharmaceuticals
TEVA
|
+$277M |
| 3 |
Intercontinental Exchange
ICE
|
+$254M |
| 4 |
eBay
EBAY
|
+$221M |
| 5 |
Citigroup
C
|
+$141M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$313M |
| 2 |
United Parcel Service
UPS
|
+$308M |
| 3 |
B
Barrick Mining
B
|
+$232M |
| 4 |
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 | |
|---|---|---|---|---|---|---|
1
Canadian Natural Resources
CNQ
$104B
| $819M | 6.86% |
44,152,428
-10,787,467
| -20% | -$182M |
|
2
Franklin Templeton
BEN
$17.6B
| $771M | 6.46% |
14,233,345
+1,856,450
| +15% | +$99.9M |
|
|
3
Intercontinental Exchange
ICE
$90.5B
| $692M | 5.8% |
17,490,885
+6,012,000
| +52% | +$254M |
|
|
MHFI
4
DELISTED
MCGRAW-HILL FINANCIAL INC COM
MHFI
| $664M | 5.56% |
8,698,951
-2,450,000
| -22% | -$192M |
|
|
DTV
5
DELISTED
DIRECTV COM STK (DE)
DTV
| $597M | 5.01% |
7,818,341
| – | – |
|
|
MON
6
DELISTED
Monsanto Co
MON
| $417M | 3.49% |
+3,661,000
| New | +$408M |
|
7
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$814B
| $374M | 3.13% |
+2,000,000
| New | +$367M |
|
|
TWC
8
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $351M | 2.94% |
2,558,645
| – | – |
|
9
Air Products & Chemicals
APD
$67.1B
| $337M | 2.83% |
3,062,045
+1,080,865
| +55% | +$115M |
|
|
10
Microsoft
MSFT
$3.71T
| $326M | 2.73% |
7,947,747
-8,350,000
| -51% | -$313M |
|
11
American International
AIG
$39.8B
| $323M | 2.7% |
6,450,000
+1,000,000
| +18% | +$49.7M |
|
|
12
Teva Pharmaceuticals
TEVA
$42.4B
| $317M | 2.66% |
+6,000,000
| New | +$277M |
|
13
Ashland
ASH
$3.34B
| $268M | 2.25% |
5,507,329
+209,485
| +4% | +$9.84M |
|
14
Iron Mountain
IRM
$34.8B
| $260M | 2.18% |
10,201,654
+649,200
| +7% | +$16.6M |
|
15
BP
BP
$113B
| $244M | 2.05% |
6,208,118
-375,322
| -6% | -$14.8M |
|
|
APC
16
DELISTED
Anadarko Petroleum
APC
| $227M | 1.9% |
2,679,766
-971,200
| -27% | -$79.6M |
|
17
Fidelity National Financial
FNF
$12.3B
| $226M | 1.9% |
12,610,990
| – | – |
|
|
18
eBay
EBAY
$46B
| $221M | 1.85% |
+9,504,000
| New | +$221M |
|
19
Applied Materials
AMAT
$361B
| $218M | 1.83% |
10,686,600
+538,600
| +5% | +$9.89M |
|
|
RDS.A
20
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
| $212M | 1.78% |
3,113,145
+567,539
| +22% | +$37.9M |
|
21
Qualcomm
QCOM
$180B
| $207M | 1.73% |
2,625,000
| – | – |
|
|
BRCM
22
DELISTED
BROADCOM CORP CL-A
BRCM
| $200M | 1.68% |
6,355,619
| – | – |
|
|
AGN
23
DELISTED
Allergan Inc
AGN
| $188M | 1.58% |
1,515,000
+243,000
| +19% | +$29.6M |
|
24
Mondelez International
MDLZ
$78.2B
| $179M | 1.5% |
5,184,538
-3,056,074
| -37% | -$104M |
|
25
MetLife
MET
$62B
| $174M | 1.46% |
3,693,709
-734,910
| -17% | -$33.8M |
|
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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.