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HCM
Highfields Capital Management Portfolio holdings
AUM
$68.3M
Turnover
50%
1-Year Est. Return
21.64%
This Fund
S&P 500
This Quarter
Est. Return
-0.69%
1 Year Est. Return
-21.64%
3 Year Est. Return
-4.74%
5 Year Est. Return
+9.61%
10 Year Est. Return
–
AUM
$10.7B
AUM Growth
-$895M
(-7.7%)
Cap. Flow
-$1.18B
Cap. Flow
% of AUM
-11%
Top 10 Holdings %
Top 10 Hldgs %
45.79%
Holding
94
New
17
Increased
24
Reduced
14
Closed
21
Avg Time Held Equity + Options
1
year
Top 10 Avg Time Held Equity + Options
0.7
years
Top 20 Avg Time Held Equity + Options
0.8
years
Avg Time Held Equity only
1.1
years
Top 10 Avg Time Held Equity only
0.7
years
Top 20 Avg Time Held Equity only
0.8
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Marriott International
MAR
|
+$449M |
| 2 |
Walgreens Boots Alliance
WBA
|
+$223M |
| 3 |
Williams Companies
WMB
|
+$207M |
| 4 |
PepsiCo
PEP
|
+$200M |
| 5 |
Pfizer
PFE
|
+$177M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
McDonald's
MCD
|
+$854M |
| 2 |
Microsoft
MSFT
|
+$710M |
| 3 |
MHFI
MCGRAW-HILL FINANCIAL INC COM
MHFI
|
+$275M |
| 4 |
Perrigo
PRGO
|
+$242M |
| 5 |
YHOO
Yahoo Inc
YHOO
|
+$239M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 20.77% |
| 2 | Consumer Discretionary | 17.19% |
| 3 | Healthcare | 15.89% |
| 4 | Miscellaneous | 9.23% |
| 5 | Financials | 9.12% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
MGM Resorts International
MGM
$7.43B
| $139M | 1.29% |
6,460,306
| – | – |
2015 Q2
3 quarters
|
|
27
Colgate-Palmolive
CL
$75.6B
| $132M | 1.23% |
+1,870,000
| New | +$124M |
2016 Q1
0 quarters
|
|
28
iShares Russell 2000 Growth ETF
IWO
$13.5B
| $111M | 1.04% |
840,000
| – | – |
2013 Q2
11 quarters
|
|
29
AerCap
AER
$22.8B
| $106M | 0.99% |
2,732,900
+1,500,000
| +122% | +$51.7M |
2015 Q3
2 quarters
|
|
30
Herc Holdings
HRI
$4.11B
| $105M | 0.98% |
3,335,379
+976,667
| +41% | +$28.7M |
2014 Q2
7 quarters
|
|
|
TWX
31
DELISTED
Time Warner Inc
TWX
| $103M | 0.96% |
+1,415,000
| New | +$97.4M |
2016 Q1
0 quarters
|
|
|
VER
32
DELISTED
VEREIT, Inc.
VER
| $102M | 0.95% |
2,301,000
+1,000,000
| +77% | +$39.7M |
2015 Q1
4 quarters
|
|
|
KSU
33
DELISTED
Kansas City Southern
KSU
| $95.7M | 0.89% |
1,120,000
-555,000
| -33% | -$43.3M |
2015 Q4
1 quarter
|
|
34
Halliburton
HAL
$27B
| $79.1M | 0.74% |
2,214,864
+600,000
| +37% | +$19.6M |
2015 Q1
4 quarters
|
|
35
Bank of New York Mellon
BNY
$92B
| $63M | 0.59% |
1,710,000
+500,000
| +41% | +$18.1M |
2015 Q4
1 quarter
|
|
36
Coca-Cola Europacific Partners
CCEP
$48.5B
| $59.2M | 0.55% |
+1,166,000
| New | +$56.2M |
2016 Q1
0 quarters
|
|
37
PUT
Tesla
TSLA
$1.42T
| $57.4M | 0.54% |
+3,750,000
| New | +$49.3M |
2016 Q1
0 quarters
|
|
38
News Corp Class A
NWSA
$16.1B
| $56.1M | 0.52% |
4,393,573
| – | – |
2013 Q3
10 quarters
|
|
39
DELISTED
Anadarko Petroleum
APC
| $50.3M | 0.47% |
1,080,588
-2,685,178
| -71% | -$109M |
2013 Q2
11 quarters
|
|
|
FNFV
40
DELISTED
Fidelity Natl Financial, Inc.
FNFV
| $47.7M | 0.45% |
4,400,457
| – | – |
2014 Q3
6 quarters
|
|
41
CALL
Alibaba
BABA
$273B
| $47.4M | 0.44% |
600,000
-500,000
| -45% | -$35.2M |
2015 Q3
2 quarters
|
|
42
Citigroup
C
$204B
| $46.6M | 0.43% |
1,115,500
+520,000
| +87% | +$21.7M |
2013 Q2
11 quarters
|
|
43
Apollo Global Management
APO
$66.5B
| $45.9M | 0.43% |
2,683,528
+428,398
| +19% | +$6.42M |
2015 Q1
4 quarters
|
|
|
44
Tesla
TSLA
$1.42T
| $43.5M | 0.41% |
2,837,625
+2,190,240
| +338% | +$28.8M |
2014 Q4
5 quarters
|
|
45
PUT
Under Armour
UAA
$2.1B
| $42.5M | 0.4% |
+1,002,600
| New | +$39.6M |
2016 Q1
0 quarters
|
|
|
GG
46
DELISTED
Goldcorp Inc
GG
| $40.6M | 0.38% |
2,500,000
-750,000
| -23% | -$10.4M |
2015 Q3
2 quarters
|
|
47
State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
$44.9B
| $38.7M | 0.36% |
219,280
-22,720
| -9% | -$3.78M |
2015 Q4
1 quarter
|
|
48
DELISTED
Kellanova
K
| $38.3M | 0.36% |
532,394
-202,456
| -28% | -$14M |
2015 Q3
2 quarters
|
|
|
ICPT
49
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $30.9M | 0.29% |
240,392
+50,166
| +26% | +$5.92M |
2015 Q1
4 quarters
|
|
|
DATA
50
DELISTED
Tableau Software, Inc.
DATA
| $28.9M | 0.27% |
+630,371
| New | +$36.6M |
2016 Q1
0 quarters
|
|
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Highfields Capital Management's Q1 2016 Portfolio in Review
As of Q1 2016, Highfields Capital Management held 94 positions worth $10.7B, down 7.7% from $11.6B the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Highfields Capital Management withdrew a net $1.18B in Q1 2016, closing 21 positions and reducing 14 holdings. Its most notable exit was Microsoft, an estimated $710M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 21% of assets, up from 14% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, Highfields Capital Management opened a new position in Marriott International worth $488M.
- Highfields Capital Management's largest Q1 2016 buy was Marriott International: 6,859,386 shares worth $488M.
- Highfields Capital Management added most to Walgreens Boots Alliance in Q1 2016, an estimated $223M increase.
- Highfields Capital Management's biggest Q1 2016 reduction was McDonald's, cutting an estimated $854M.
- Highfields Capital Management fully exited Microsoft in Q1 2016, selling an estimated $710M.
- Highfields Capital Management's ten largest holdings make up 46% of its $10.7B portfolio in Q1 2016.
- Highfields Capital Management opened 17 new positions and closed 21 in Q1 2016.
- Highfields Capital Management's portfolio value fell 7.7% quarter-over-quarter to $10.7B.
Based on Highfields Capital Management's 13F filing for Q1 2016, filed 16 May 2016.