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Cantillon Capital Management’s 1Q 2014 investment strategy

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Oct. 30 2019, Updated 11:32 a.m. ET

Cantillon Capital Management

The New York–based Cantillon Capital Management filed its 13F for the first quarter of 2014. The size of the U.S. long portfolio slightly increased in the quarter, from $4.22 billion to $4.32 billion, comprising 20 holdings.

 

The portfolio saw one new position, Sirona Dental Systems Inc. (SIRO), but no stake sales. Existing position increases included Fidelity National Information Services (FIS), W.W. Grainger Inc. (GWW), and Ambev SA-ADR (ABEV). Stake reductions included The Coca-Cola Company (KO) and Waters Corp. (WAT).

 

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Cantillon is a hedge fund manager founded in 2003 by William von Mueffling. Before founding Cantillon, Mueffling headed Lazard Asset Management’s hedge fund group, where he was known to have averaged annual returns of over 30% from 1998 to 2003 by shorting technology stocks. At its peak, the firm managed more than $10 billion long/short hedge funds.

In June 2009, the firm announced it was shutting down its long/short strategies, which included the Cantillon World, Cantillon Europe, Cantillon U.S. Low Volatility, and Cantillon Pacific funds. Von Mueffling returned $3.5 billion to investors, with Cantillon managing $1 billion in long-only assets. A 2010 article in the Wall Street Journal stated that Cantillon’s strategy is to find companies that produce higher-than-average returns on shareholder equity but that are priced cheaply relative to their earnings streams.

Notice of correction: When this article was originally published, it listed market cap in millions. The first table has since been revised to show market cap in billions.

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