Jacobson's Highfields Said to Gain 9% in October as Stocks Rose

  • Main fund is up 3% this year, beating the industry average
  • Boston firm's top U.S. stock holdings rallied in October

Highfields Capital Management, the $12.5 billion investment firm run by Jonathon Jacobson, gained about 9 percent in its main fund last month as U.S. stocks rallied, according to a person with knowledge of the matter.

The Boston-based firm is up about 3 percent this year through the end of last month, said the person, who asked not to be named because the information is private.

Highfields is making money in 2015 while many other hedge funds struggle to post gains. The Standard & Poor’s 500 Index rose 8.3 percent in October, its best month since 2011, as commodity producers and technology companies rebounded. The average hedge fund climbed 0.9 percent last month and was up 1 percent in 2015 through October, according to data compiled by Bloomberg.

Todd Fogarty, a spokesman for Highfields at Kekst & Co., declined to comment on the firm’s performance.

Highfields’ biggest U.S. equity holdings, including McDonald’s Corp. and DuPont Co., surged last month. Top position McDonald’s, which accounted for 11 percent of that portfolio as of Sept. 30, rallied 14 percent in October. DuPont, the chemical company that’s been under pressure from Trian Fund Management’s Nelson Peltz to break up, surged 32 percent.

Highfields’s stock holdings increased by 3.6 percent during the third quarter to $10.9 billion, the firm disclosed in a filing last week.

Before it's here, it's on the Bloomberg Terminal.