Highfields Capital Drops Stakes in BofA, Wal-Mart Stores, RIM
Highfields Capital Management LP, the Boston-based hedge fund run by Jonathon Jacobson, eliminated common stock holdings in Bank of America Corp. (BAC), Wal-Mart Stores Inc. (WMT) and Research In Motion Ltd. (RIM), the manufacturer of BlackBerry.
Highfields disposed of 727,942 shares in Charlotte, North Carolina-based Bank of America and 2.75 million shares of Wal- Mart, based in Bentonville, Arkansas, according to a regulatory filing today. Highfields dropped its 1.44 million-share stake in Waterloo, Ontario-based RIM.
Highfields also exited its 3.36 million-share position in Toronto-based Barrick Gold Corp. and cut its stake in New York- based BlackRock Inc. (BLK), the world’s biggest provider of exchange- traded funds, by more than half to about 639,000 shares as of Sept. 30, the filing shows.
To contact the reporter on this story: Charles Mead in New York at cmead11@bloomberg.net
To contact the editor responsible for this story: Rick Green in New York at rgreen18@bloomberg.net.
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