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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
+8.07%
1 Year Est. Return
-21.64%
3 Year Est. Return
-4.74%
5 Year Est. Return
+9.61%
10 Year Est. Return
–
AUM
$13.6B
AUM Growth
+$1.68B
(+14%)
Cap. Flow
+$1.17B
Cap. Flow
% of AUM
8.61%
Top 10 Holdings %
Top 10 Hldgs %
46.31%
Holding
109
New
30
Increased
16
Reduced
14
Closed
18
Avg Time Held Equity + Options
0.5
years
Top 10 Avg Time Held Equity + Options
0.7
years
Top 20 Avg Time Held Equity + Options
0.6
years
Avg Time Held Equity only
0.6
years
Top 10 Avg Time Held Equity only
0.7
years
Top 20 Avg Time Held Equity only
0.6
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Herc Holdings
HRI
|
+$261M |
| 2 |
Eli Lilly
LLY
|
+$239M |
| 3 |
DTV
DIRECTV COM STK (DE)
DTV
|
+$230M |
| 4 |
MON
Monsanto Co
MON
|
+$186M |
| 5 |
Goldman Sachs
GS
|
+$155M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
RDS.A
Royal Dutch Shell PLC ADS Class A
RDS.A
|
+$224M |
| 2 |
BP
BP
|
+$157M |
| 3 |
AGN
Allergan Inc
AGN
|
+$138M |
| 4 |
Applied Materials
AMAT
|
+$136M |
| 5 |
ExxonMobil
XOM
|
+$122M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 25.98% |
| 2 | Miscellaneous | 11.09% |
| 3 | Technology | 10.98% |
| 4 | Materials | 10.58% |
| 5 | Energy | 10.28% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
DTV
1
DELISTED
DIRECTV COM STK (DE)
DTV
| $904M | 6.64% |
10,637,261
+2,818,920
| +36% | +$230M |
2013 Q2
4 quarters
|
|
2
Canadian Natural Resources
CNQ
$107B
| $856M | 6.29% |
38,567,353
-5,585,075
| -13% | -$112M |
2013 Q2
4 quarters
|
|
3
Franklin Templeton
BEN
$15.5B
| $823M | 6.05% |
14,233,345
| – | – |
2013 Q2
4 quarters
|
|
|
MHFI
4
DELISTED
MCGRAW-HILL FINANCIAL INC COM
MHFI
| $722M | 5.3% |
8,698,951
| – | – |
2013 Q2
4 quarters
|
|
5
Intercontinental Exchange
ICE
$87.1B
| $718M | 5.27% |
19,013,885
+1,523,000
| +9% | +$59.4M |
2013 Q2
4 quarters
|
|
|
MON
6
DELISTED
Monsanto Co
MON
| $655M | 4.81% |
5,247,800
+1,586,800
| +43% | +$186M |
2014 Q1
1 quarter
|
|
7
Air Products & Chemicals
APD
$65.1B
| $493M | 3.62% |
4,143,045
+1,081,000
| +35% | +$121M |
2013 Q4
2 quarters
|
|
|
TWC
8
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $421M | 3.09% |
2,858,645
+300,000
| +12% | +$42.1M |
2013 Q2
4 quarters
|
|
9
Iron Mountain
IRM
$33B
| $383M | 2.81% |
11,691,473
+1,489,819
| +15% | +$40.4M |
2013 Q2
4 quarters
|
|
10
Microsoft
MSFT
$3.96T
| $331M | 2.43% |
7,947,747
| – | – |
2013 Q2
4 quarters
|
|
11
Teva Pharmaceutical Industries Limited
TEVA
$47.5B
| $324M | 2.38% |
6,187,000
+187,000
| +3% | +$9.56M |
2014 Q1
1 quarter
|
|
12
Ashland
ASH
$3.27B
| $293M | 2.15% |
5,507,329
| – | – |
2013 Q3
3 quarters
|
|
|
TWTC
13
DELISTED
TW TELECOM INC CL A COM
TWTC
| $272M | 2% |
6,756,587
+1,930,000
| +40% | +$63.7M |
2013 Q2
4 quarters
|
|
14
American International
AIG
$40.5B
| $270M | 1.98% |
4,950,000
-1,500,000
| -23% | -$79.4M |
2013 Q2
4 quarters
|
|
|
15
Herc Holdings
HRI
$4.12B
| $260M | 1.91% |
+3,095,000
| New | +$261M |
2014 Q2
0 quarters
|
|
|
16
Eli Lilly
LLY
$1.08T
| $249M | 1.83% |
+4,000,000
| New | +$239M |
2014 Q2
0 quarters
|
|
17
Fidelity National Financial
FNF
$10.5B
| $236M | 1.73% |
12,610,990
| – | – |
2013 Q2
4 quarters
|
|
18
eBay
EBAY
$52B
| $235M | 1.73% |
11,167,200
+1,663,200
| +18% | +$36.2M |
2014 Q1
1 quarter
|
|
|
BRCM
19
DELISTED
BROADCOM CORP CL-A
BRCM
| $227M | 1.66% |
6,105,619
-250,000
| -4% | -$8.19M |
2013 Q4
2 quarters
|
|
20
DELISTED
Anadarko Petroleum
APC
| $222M | 1.63% |
2,029,766
-650,000
| -24% | -$66.2M |
2013 Q2
4 quarters
|
|
21
Mondelez International
MDLZ
$79.9B
| $195M | 1.43% |
5,184,538
| – | – |
2013 Q2
4 quarters
|
|
22
Onity Group
ONIT
$212M
| $171M | 1.26% |
307,600
+237,933
| +342% | +$129M |
2014 Q1
1 quarter
|
|
23
DELISTED
Nordstrom
JWN
| $168M | 1.24% |
2,479,497
-162,000
| -6% | -$10.5M |
2013 Q2
4 quarters
|
|
|
24
Goldman Sachs
GS
$256B
| $161M | 1.18% |
+960,000
| New | +$155M |
2014 Q2
0 quarters
|
|
25
Qualcomm
QCOM
$184B
| $160M | 1.18% |
2,025,000
-600,000
| -23% | -$47.7M |
2013 Q2
4 quarters
|
|
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Highfields Capital Management's Q2 2014 Portfolio in Review
As of Q2 2014, Highfields Capital Management held 109 positions worth $13.6B, up 14% from $11.9B the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Highfields Capital Management deployed $1.17B of net new capital in Q2 2014, opening 30 new positions and adding to 16 existing holdings. Its largest new stake was Herc Holdings: 3,095,000 shares worth $260M.
By sector, the portfolio is most concentrated in Financials at 26% of assets, down from 26% a quarter earlier, followed by Miscellaneous and Technology.
On the sell side, the largest reduction was Royal Dutch Shell PLC ADS Class A, an estimated $224M trimmed.
- Highfields Capital Management's largest Q2 2014 buy was Herc Holdings: 3,095,000 shares worth $260M.
- Highfields Capital Management added most to DIRECTV COM STK (DE) in Q2 2014, an estimated $230M increase.
- Highfields Capital Management's biggest Q2 2014 reduction was Royal Dutch Shell PLC ADS Class A, cutting an estimated $224M.
- Highfields Capital Management fully exited ExxonMobil in Q2 2014, selling an estimated $122M.
- Highfields Capital Management's ten largest holdings make up 46% of its $13.6B portfolio in Q2 2014.
- Highfields Capital Management opened 30 new positions and closed 18 in Q2 2014.
- Highfields Capital Management's portfolio value rose 14% quarter-over-quarter to $13.6B.
Based on Highfields Capital Management's 13F filing for Q2 2014, filed 14 Aug 2014.