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HCM

Highfields Capital Management Portfolio holdings

AUM $68.3M
1-Year Est. Return 21.64%
This Fund
S&P 500
This Quarter Est. Return
-0.42%
1 Year Est. Return
-21.64%
3 Year Est. Return
-4.74%
5 Year Est. Return
+9.61%
10 Year Est. Return
–
AUM
$5.35B
AUM Growth
-$3.74B
Cap. Flow
-$3.36B
Cap. Flow %
-62.84%
Top 10 Hldgs %
57.15%
Holding
63
New
7
Increased
8
Reduced
23
Closed
18

Top Buys

Rank Stock Value
1
HGV icon
Hilton Grand Vacations
HGV
+$120M
2
MGM icon
MGM Resorts International
MGM
+$99M
3
MHK icon
Mohawk Industries
MHK
+$98.1M
4
EQT icon
EQT Corp
EQT
+$91.5M
5
SHPG
Shire pic
SHPG
+$90.7M

Top Sells

Rank Stock Value
1
DIS icon
Walt Disney
DIS
+$473M
2
CMCSA icon
Comcast
CMCSA
+$427M
3
NXPI icon
NXP Semiconductors
NXPI
+$356M
4
TEVA icon
Teva Pharmaceuticals
TEVA
+$303M
5
FDX icon
FedEx
FDX
+$248M

Sector Composition

Rank Sector Weight
1 Communication Services 24.12%
2 Consumer Discretionary 20.65%
3 Financials 16.34%
4 Healthcare 12.72%
5 Energy 8.29%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SONY icon
26
Sony
SONY
$143B
$61.3M 1.14%
5,050,500
+945,000
+23% +$10.4M
PBR icon
27
Petrobras
PBR
$130B
$54.3M 1.01%
4,500,000
+2,500,000
+125% +$27.7M
EQT icon
28
CALL
EQT Corp
EQT
$34.5B
$44.2M 0.83%
+1,837,000
New +$50.7M
LEN icon
29
Lennar Class A
LEN
$20.1B
$40.5M 0.76%
895,611
– –
RAD
30
DELISTED
Rite Aid Corporation
RAD
$39.1M 0.73%
1,526,337
-824,181
-35% -$25.4M
HCA icon
31
HCA Healthcare
HCA
$87.7B
$37.6M 0.7%
270,000
-479,030
-64% -$59.6M
LLY icon
32
Eli Lilly
LLY
$1.02T
$37.6M 0.7%
+350,000
New +$35M
GLD icon
33
CALL
SPDR Gold Trust
GLD
$150B
$33.8M 0.63%
300,000
-300,000
-50% -$34.4M
ICPT
34
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
$30.2M 0.56%
239,232
-100,000
-29% -$10.6M
HRI icon
35
Herc Holdings
HRI
$4.71B
$27.9M 0.52%
544,860
-477,262
-47% -$25.8M
AMR
36
DELISTED
Alta Mesa Resources Inc
AMR
$27.5M 0.51%
6,589,646
-244,265
-4% -$1.34M
BP icon
37
BP
BP
$113B
$23.1M 0.43%
+523,680
New +$21.9M
PBR icon
38
CALL
Petrobras
PBR
$130B
$18.1M 0.34%
+1,500,000
New +$16.6M
TFCFA
39
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
$16.6M 0.31%
359,000
-4,438,969
-93% -$203M
SUM
40
DELISTED
Summit Materials, Inc. Class A Common Stock
SUM
$13.6M 0.25%
+762,750
New +$16.6M
LBTYA icon
41
Liberty Global Class A
LBTYA
$3.62B
$13.4M 0.25%
462,000
-3,990,000
-90% -$111M
AGN
42
DELISTED
Allergan plc
AGN
$7.14M 0.13%
37,500
– –
H icon
43
Hyatt Hotels
H
$15.6B
$2.75M 0.05%
34,500
– –
AMRWW
44
DELISTED
Alta Mesa Resources Inc Warrant
AMRWW
$1.92M 0.04%
3,833,333
– –
EWZ icon
45
CALL
iShares MSCI Brazil ETF
EWZ
$8.62B
$637K 0.01%
+18,900
New +$636K
ACWI icon
46
iShares MSCI ACWI ETF
ACWI
$33.5B
– –
-441,745
Closed -$31.4M
AMT icon
47
American Tower
AMT
$81.9B
– –
-90,000
Closed -$13M
CVE icon
48
Cenovus Energy
CVE
$59.7B
– –
-15,576,113
Closed -$162M
CVS icon
49
CVS Health
CVS
$124B
– –
-3,836,256
Closed -$247M
DIS icon
50
Walt Disney
DIS
$182B
– –
-4,512,676
Closed -$473M
1
2
3

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Highfields Capital Management's Q3 2018 Portfolio in Review

As of Q3 2018, Highfields Capital Management held 63 positions worth $5.35B, down 41% from $9.09B the previous quarter. Its ten largest holdings account for 57% of the portfolio.

Highfields Capital Management withdrew a net $3.36B in Q3 2018, closing 18 positions and reducing 23 holdings. Its most notable exit was Walt Disney, an estimated $473M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 24% of assets, down from 33% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Highfields Capital Management opened a new position in MGM Resorts International worth $95.3M.

  • Highfields Capital Management's largest Q3 2018 buy was MGM Resorts International: 3,414,000 shares worth $95.3M.
  • Highfields Capital Management added most to Hilton Grand Vacations in Q3 2018, an estimated $120M increase.
  • Highfields Capital Management's biggest Q3 2018 reduction was Comcast, cutting an estimated $427M.
  • Highfields Capital Management fully exited Walt Disney in Q3 2018, selling an estimated $473M.
  • Highfields Capital Management's ten largest holdings make up 57% of its $5.35B portfolio in Q3 2018.
  • Highfields Capital Management opened 7 new positions and closed 18 in Q3 2018.
  • Highfields Capital Management's portfolio value fell 41% quarter-over-quarter to $5.35B.

Based on Highfields Capital Management's 13F filing for Q3 2018, filed 14 Nov 2018.