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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
+6.34%
1 Year Est. Return
-21.64%
3 Year Est. Return
-4.74%
5 Year Est. Return
+9.61%
10 Year Est. Return
–
AUM
$12B
AUM Growth
+$420M
Cap. Flow
-$564M
Cap. Flow %
-4.69%
Top 10 Hldgs %
49.21%
Holding
76
New
14
Increased
14
Reduced
21
Closed
12
Avg Time Held Equity + Options
1.3 years
Top 10 Avg Time Held Equity + Options
0.9 years
Top 20 Avg Time Held Equity + Options
1.1 years
Avg Time Held Equity only
1.3 years
Top 10 Avg Time Held Equity only
0.9 years
Top 20 Avg Time Held Equity only
1.1 years

Top Buys

Rank Stock Value
1
TWX
Time Warner Inc
TWX
+$572M
2
CMCSA icon
Comcast
CMCSA
+$428M
3
AMZN icon
Amazon
AMZN
+$275M
4
AXTA icon
Axalta
AXTA
+$189M
5
TEVA icon
Teva Pharmaceutical Industries Limited
TEVA
+$138M

Top Sells

Rank Stock Value
1
FDX icon
FedEx
FDX
+$501M
2
TGT icon
Target
TGT
+$346M
3
MAR icon
Marriott International
MAR
+$328M
4
BEN icon
Franklin Templeton
BEN
+$180M
5
HDS
HD Supply Holdings, Inc.
HDS
+$172M

Sector Composition

Rank Sector Weight
1 Communication Services 25.17%
2 Consumer Discretionary 20.16%
3 Healthcare 12.06%
4 Materials 9.71%
5 Energy 7.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
NVDA icon
26
NVIDIA
NVDA
$5.34T
$150M 1.25%
30,996,000
+1,996,000
+7% +$9.91M
2017 Q2
2 quarters
CVE icon
27
Cenovus Energy
CVE
$60.2B
$144M 1.19%
15,739,862
-5,885,138
-27% -$57.2M
2016 Q3
5 quarters
LBTYA icon
28
Liberty Global Class A
LBTYA
$2.79B
$143M 1.19%
3,990,000
– –
2016 Q3
5 quarters
VER
29
DELISTED
VEREIT, Inc.
VER
$138M 1.15%
3,543,000
+2,000
+0.1% +$80.2K
2015 Q1
11 quarters
GS icon
30
Goldman Sachs
GS
$256B
$132M 1.1%
517,688
+10,000
+2% +$2.45M
2017 Q2
2 quarters
SHPG
31
DELISTED
Shire pic
SHPG
$123M 1.03%
795,000
+607,500
+324% +$90M
2017 Q1
3 quarters
CCEP icon
32
Coca-Cola Europacific Partners
CCEP
$47.1B
$104M 0.87%
2,618,179
+1,319,000
+102% +$52.7M
2016 Q1
7 quarters
HGV icon
33
Hilton Grand Vacations
HGV
$2.7B
$103M 0.85%
2,446,893
– –
2017 Q1
3 quarters
EXPE icon
34
Expedia Group
EXPE
$33B
$99.3M 0.83%
+829,000
New +$108M
2017 Q4
0 quarters
RAD
35
DELISTED
Rite Aid Corporation
RAD
$92.6M 0.77%
2,350,518
+500
+0% +$17.9K
2016 Q3
5 quarters
TSLA icon
36
Tesla
TSLA
$1.45T
$89.5M 0.74%
4,310,520
-240,435
-5% -$5.23M
2014 Q4
12 quarters
HRI icon
37
Herc Holdings
HRI
$4.12B
$81.5M 0.68%
1,302,104
– –
2014 Q2
14 quarters
TSLA icon
38
PUT
Tesla
TSLA
$1.45T
$77.8M 0.65%
3,750,000
– –
2016 Q1
7 quarters
CNNE icon
39
Cannae Holdings
CNNE
$688M
$74.9M 0.62%
+4,400,457
New +$75.9M
2017 Q4
0 quarters
SRUN
40
DELISTED
Silver Run Acquisition Corporation II Class A
SRUN
$74.4M 0.62%
7,508,999
-750,000
-9% -$7.49M
2017 Q3
1 quarter
KR icon
41
Kroger
KR
$37.3B
$71.6M 0.6%
2,610,000
+965,000
+59% +$22.5M
2017 Q3
1 quarter
NWSA icon
42
News Corp Class A
NWSA
$15.9B
$71.2M 0.59%
4,393,573
– –
2013 Q3
17 quarters
VOD icon
43
Vodafone
VOD
$35.9B
$63.7M 0.53%
1,995,817
– –
2013 Q2
18 quarters
WBA icon
44
DELISTED
Walgreens Boots Alliance
WBA
$62.3M 0.52%
857,564
– –
2014 Q2
14 quarters
PE
45
DELISTED
PARSLEY ENERGY INC
PE
$59.7M 0.5%
2,028,000
+1,528,000
+306% +$40.8M
2017 Q3
1 quarter
AXP icon
46
American Express
AXP
$207B
$59.6M 0.5%
+600,000
New +$57.1M
2017 Q4
0 quarters
MDLZ icon
47
Mondelez International
MDLZ
$79.9B
$54.1M 0.45%
+1,265,000
New +$53.1M
2017 Q4
0 quarters
PAGP icon
48
Plains GP Holdings
PAGP
$5.37B
$52.6M 0.44%
2,394,133
-1,013,242
-30% -$21.3M
2017 Q1
3 quarters
GE icon
49
GE Aerospace
GE
$319B
$36.7M 0.31%
+439,341
New +$41.9M
2017 Q4
0 quarters
CERN
50
DELISTED
Cerner Corp
CERN
$32.8M 0.27%
+486,740
New +$33.6M
2017 Q4
0 quarters
1
2
3

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Highfields Capital Management's Q4 2017 Portfolio in Review

As of Q4 2017, Highfields Capital Management held 76 positions worth $12B, up 3.6% from $11.6B the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Highfields Capital Management withdrew a net $564M in Q4 2017, closing 12 positions and reducing 21 holdings. Its most notable exit was Target, an estimated $346M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 25% of assets, up from 18% a quarter earlier, followed by Consumer Discretionary and Healthcare.

Against the trend, Highfields Capital Management opened a new position in Comcast worth $456M.

  • Highfields Capital Management's largest Q4 2017 buy was Comcast: 11,383,724 shares worth $456M.
  • Highfields Capital Management added most to Time Warner Inc in Q4 2017, an estimated $572M increase.
  • Highfields Capital Management's biggest Q4 2017 reduction was FedEx, cutting an estimated $501M.
  • Highfields Capital Management fully exited Target in Q4 2017, selling an estimated $346M.
  • Highfields Capital Management's ten largest holdings make up 49% of its $12B portfolio in Q4 2017.
  • Highfields Capital Management opened 14 new positions and closed 12 in Q4 2017.
  • Highfields Capital Management's portfolio value rose 3.6% quarter-over-quarter to $12B.

Based on Highfields Capital Management's 13F filing for Q4 2017, filed 14 Feb 2018.