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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
-4.08%
1 Year Est. Return
-21.64%
3 Year Est. Return
-4.74%
5 Year Est. Return
+9.61%
10 Year Est. Return
–
AUM
$11B
AUM Growth
-$984M
Cap. Flow
-$93.9M
Cap. Flow %
-0.85%
Top 10 Hldgs %
55.92%
Holding
78
New
14
Increased
11
Reduced
15
Closed
18
Avg Time Held Equity + Options
1.5 years
Top 10 Avg Time Held Equity + Options
0.9 years
Top 20 Avg Time Held Equity + Options
1.2 years
Avg Time Held Equity only
1.5 years
Top 10 Avg Time Held Equity only
0.9 years
Top 20 Avg Time Held Equity only
1.2 years

Top Buys

Rank Stock Value
1
AET
Aetna Inc
AET
+$517M
2
CMCSA icon
Comcast
CMCSA
+$451M
3
DIS icon
Walt Disney
DIS
+$441M
4
EQT icon
EQT Corp
EQT
+$189M
5
EXPE icon
Expedia Group
EXPE
+$155M

Top Sells

Rank Stock Value
1
MAR icon
Marriott International
MAR
+$430M
2
PXD icon
Pioneer Natural Resource Co.
PXD
+$351M
3
AMZN icon
Amazon
AMZN
+$292M
4
DD icon
DuPont de Nemours
DD
+$277M
5
BKR icon
Baker Hughes
BKR
+$154M

Sector Composition

Rank Sector Weight
1 Communication Services 35.47%
2 Consumer Discretionary 13.02%
3 Healthcare 12.79%
4 Materials 10.35%
5 Financials 8.8%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
PXD icon
26
DELISTED
Pioneer Natural Resource Co.
PXD
$121M 1.1%
705,000
-1,989,479
-74% -$351M
2017 Q3
2 quarters
SHPG
27
DELISTED
Shire pic
SHPG
$119M 1.08%
795,000
– –
2017 Q1
4 quarters
IVZ icon
28
Invesco
IVZ
$12.3B
$116M 1.05%
3,638,971
-2,094,521
-37% -$72.2M
2016 Q4
5 quarters
VER
29
DELISTED
VEREIT, Inc.
VER
$109M 0.99%
3,143,000
-400,000
-11% -$14.2M
2015 Q1
12 quarters
RJF icon
30
Raymond James Financial
RJF
$30.2B
$100M 0.91%
+1,684,500
New +$105M
2018 Q1
0 quarters
HRI icon
31
Herc Holdings
HRI
$4.12B
$84M 0.76%
1,293,174
-8,930
-0.7% -$583K
2014 Q2
15 quarters
RAD
32
DELISTED
Rite Aid Corporation
RAD
$79M 0.72%
2,350,518
– –
2016 Q3
6 quarters
TSLA icon
33
Tesla
TSLA
$1.45T
$76.5M 0.69%
4,310,520
– –
2014 Q4
13 quarters
NWSA icon
34
News Corp Class A
NWSA
$15.9B
$69.4M 0.63%
4,393,573
– –
2013 Q3
18 quarters
TSLA icon
35
PUT
Tesla
TSLA
$1.45T
$66.5M 0.6%
3,750,000
– –
2016 Q1
8 quarters
ENB icon
36
Enbridge
ENB
$106B
$63.8M 0.58%
+2,030,700
New +$71.1M
2018 Q1
0 quarters
H icon
37
Hyatt Hotels
H
$15.1B
$60.8M 0.55%
797,688
-1,744,879
-69% -$137M
2017 Q1
4 quarters
AMR icon
38
DELISTED
Alta Mesa Resources Inc
AMR
$60.1M 0.54%
+7,508,999
New +$61.3M
2018 Q1
0 quarters
HAL icon
39
Halliburton
HAL
$27.4B
$59.6M 0.54%
+1,270,000
New +$62.7M
2018 Q1
0 quarters
X icon
40
DELISTED
US Steel
X
$59.1M 0.54%
+1,680,000
New +$66.2M
2018 Q1
0 quarters
PE
41
DELISTED
PARSLEY ENERGY INC
PE
$58.1M 0.53%
2,003,000
-25,000
-1% -$666K
2017 Q3
2 quarters
VOD icon
42
Vodafone
VOD
$35.9B
$55.5M 0.5%
1,995,817
– –
2013 Q2
19 quarters
MDLZ icon
43
Mondelez International
MDLZ
$79.9B
$54.5M 0.49%
1,305,000
+40,000
+3% +$1.74M
2017 Q4
1 quarter
WBA icon
44
DELISTED
Walgreens Boots Alliance
WBA
$49.1M 0.44%
750,000
-107,564
-13% -$7.69M
2014 Q2
15 quarters
CSRA icon
45
DELISTED
CSRA Inc.
CSRA
$41.2M 0.37%
+1,000,000
New +$36.7M
2018 Q1
0 quarters
TGT icon
46
Target
TGT
$70.6B
$38.6M 0.35%
+555,431
New +$40.4M
2018 Q1
0 quarters
AMT icon
47
American Tower
AMT
$83.6B
$29.1M 0.26%
200,000
– –
2015 Q3
10 quarters
CNNE icon
48
Cannae Holdings
CNNE
$688M
$27.8M 0.25%
1,475,060
-2,925,397
-66% -$52.5M
2017 Q4
1 quarter
CHTR icon
49
Charter Communications
CHTR
$12B
$27.1M 0.25%
87,065
– –
2017 Q4
1 quarter
SYF icon
50
Synchrony
SYF
$23.3B
$23.5M 0.21%
700,000
– –
2017 Q2
3 quarters
1
2
3 4

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Highfields Capital Management's Q1 2018 Portfolio in Review

As of Q1 2018, Highfields Capital Management held 78 positions worth $11B, down 8.2% from $12B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Highfields Capital Management's Q1 2018 filing shows 14 new, 11 increased, 15 reduced and 18 closed positions. Its largest new stake was Aetna Inc: 2,875,697 shares worth $486M. The largest sale was Marriott International, an estimated $430M.

By sector, the portfolio is most concentrated in Communication Services at 35% of assets, up from 25% a quarter earlier, followed by Consumer Discretionary and Healthcare.

  • Highfields Capital Management's largest Q1 2018 buy was Aetna Inc: 2,875,697 shares worth $486M.
  • Highfields Capital Management added most to Comcast in Q1 2018, an estimated $451M increase.
  • Highfields Capital Management's biggest Q1 2018 reduction was Marriott International, cutting an estimated $430M.
  • Highfields Capital Management fully exited Amazon in Q1 2018, selling an estimated $292M.
  • Highfields Capital Management's ten largest holdings make up 56% of its $11B portfolio in Q1 2018.
  • Highfields Capital Management opened 14 new positions and closed 18 in Q1 2018.
  • Highfields Capital Management's portfolio value fell 8.2% quarter-over-quarter to $11B.

Based on Highfields Capital Management's 13F filing for Q1 2018, filed 15 May 2018.