Highfields reports 6.7% stake in First American

Highfields Capital Management LP today reported a 6.7 percent passive stake in First American Corp., according to a filing with the Securities and Exchange Commission.

The Boston hedge fund beneficially owns about 6.49 million shares of the Santa Ana, Calif., title insurance and mortgage information firm, the filing said.

Highfields reported its holdings on an SEC form for passive investors, who own shares for investment purposes, not to influence company operations. Such filers aren’t required to provide a reason for any changes in stake and don’t have to disclose any transactions to the SEC.
(Dow Jones)