Highfields Capital Management LP
Highfields Capital Management LP is based in Boston. The fund was founded by Jonathon Jacobson in 1998. In this series, we’ll highlight the top positions the fund traded during the third quarter. The main positions traded during the third quarter are outlined in the table below.
The fund’s US long portfolio declined slightly to $12.8 billion in the third quarter—compared to $13.6 billion in the second quarter. The third quarter ended in September.
To learn more about Highfields Capital’s 2Q14 results, read Must-know: Assessing Highfields Capital’s 2Q14 positions.
During 3Q14, Highfields Capital started new positions in Enbridge Inc. (ENB), Time Warner Inc. (TWX), and Michaels Companies Inc. (MIK). It increased its positions in Dollar Tree Inc. (DLTR) and Family Dollar Stores (FDO). Its top positions sold included Broadcom Corp. (BRCM) and MetLife Inc. (MET). It reduced its stakes in Canadian Natural Resources (CNQ) and Eli Lilly & Co. (LLY).
Apart from the stocks mentioned above, the fund also added to its positions in Iron Mountain (IRM), Walgreens (WAG), and Starwood Hotels & Resorts (HOT). It lowered its stakes in Mondelez International (MDLZ), Nordstrom (JWM), and Qualcomm (QCOM).
We’ll discuss Highfields’ new position in ENB in the next part of this series.