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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
-18.71%
1 Year Est. Return
-21.64%
3 Year Est. Return
-4.74%
5 Year Est. Return
+9.61%
10 Year Est. Return
–
AUM
$2.12B
AUM Growth
-$3.23B
Cap. Flow
-$2.6B
Cap. Flow %
-122.59%
Top 10 Hldgs %
74.19%
Holding
49
New
4
Increased
–
Reduced
14
Closed
25
Avg Time Held Equity + Options
2 years
Top 10 Avg Time Held Equity + Options
0.8 years
Top 20 Avg Time Held Equity + Options
1.2 years
Avg Time Held Equity only
2 years
Top 10 Avg Time Held Equity only
0.8 years
Top 20 Avg Time Held Equity only
1.2 years

Top Buys

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$194M
2
QQQ icon
Invesco QQQ Trust
QQQ
+$149M
3
IWN icon
iShares Russell 2000 Value ETF
IWN
+$32.1M
4
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$10.7M

Top Sells

Rank Stock Value
1
AET
Aetna Inc
AET
+$649M
2
NXPI icon
NXP Semiconductors
NXPI
+$293M
3
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$233M
4
SHPG
Shire pic
SHPG
+$227M
5
EQT icon
EQT Corp
EQT
+$197M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 32.24%
2 Communication Services 29.23%
3 Miscellaneous 17.48%
4 Healthcare 9.58%
5 Technology 7.43%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
BP icon
26
BP
BP
$126B
– –
-523,680
Closed -$23.1M –
CCEP icon
27
Coca-Cola Europacific Partners
CCEP
$48.3B
– –
-2,251,926
Closed -$102M –
EQT icon
28
CALL
EQT Corp
EQT
$32.7B
– –
-1,837,000
Closed -$44.2M –
EWZ icon
29
CALL
iShares MSCI Brazil ETF
EWZ
$11.8B
– –
-18,900
Closed -$637K –
GLD icon
30
CALL
SPDR Gold Trust
GLD
$141B
– –
-300,000
Closed -$33.8M –
GOOGL icon
31
Alphabet (Google) Class A
GOOGL
$4.26T
– –
-3,853,480
Closed -$233M –
H icon
32
Hyatt Hotels
H
$15.8B
– –
-34,500
Closed -$2.75M –
HCA icon
33
HCA Healthcare
HCA
$102B
– –
-270,000
Closed -$37.6M –
HRI icon
34
Herc Holdings
HRI
$4.09B
– –
-544,860
Closed -$27.9M –
LBTYA icon
35
Liberty Global Class A
LBTYA
$2.76B
– –
-462,000
Closed -$13.4M –
LLY icon
36
Eli Lilly
LLY
$1.13T
– –
-350,000
Closed -$37.6M –
NXPI icon
37
NXP Semiconductors
NXPI
$57.2B
– –
-3,429,493
Closed -$293M –
PBR icon
38
CALL
Petrobras
PBR
$166B
– –
-1,500,000
Closed -$18.1M –
PBR icon
39
Petrobras
PBR
$166B
– –
-4,500,000
Closed -$54.3M –
PBR.A icon
40
Petrobras Class A
PBR.A
$148B
– –
-8,500,000
Closed -$88.9M –
RJF icon
41
Raymond James Financial
RJF
$30.1B
– –
-1,728,300
Closed -$106M –
SONY icon
42
Sony
SONY
$145B
– –
-5,050,500
Closed -$61.3M –
TSLA icon
43
Tesla
TSLA
$1.42T
– –
-4,310,520
Closed -$92.7M –
SUM icon
44
DELISTED
Summit Materials, Inc. Class A Common Stock
SUM
– –
-762,750
Closed -$13.6M –
ICPT
45
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
– –
-239,232
Closed -$30.2M –
AGN
46
DELISTED
Allergan plc
AGN
– –
-37,500
Closed -$7.14M –
TFCFA
47
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
– –
-359,000
Closed -$16.6M –
AET
48
DELISTED
Aetna Inc
AET
– –
-3,197,113
Closed -$649M –
SHPG
49
DELISTED
Shire pic
SHPG
– –
-1,251,200
Closed -$227M –
1
2

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Highfields Capital Management's Q4 2018 Portfolio in Review

As of Q4 2018, Highfields Capital Management held 49 positions worth $2.12B, down 60% from $5.35B the previous quarter. Its ten largest holdings account for 74% of the portfolio.

Highfields Capital Management withdrew a net $2.6B in Q4 2018, closing 25 positions and reducing 14 holdings. Its most notable exit was Aetna Inc, an estimated $649M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 32% of assets, up from 21% a quarter earlier, followed by Communication Services and Miscellaneous.

Against the trend, Highfields Capital Management opened a new position in Apple worth $158M.

  • Highfields Capital Management's largest Q4 2018 buy was Apple: 4,000,000 shares worth $158M.
  • Highfields Capital Management's biggest Q4 2018 reduction was EQT Corp, cutting an estimated $197M.
  • Highfields Capital Management fully exited Aetna Inc in Q4 2018, selling an estimated $649M.
  • Highfields Capital Management's ten largest holdings make up 74% of its $2.12B portfolio in Q4 2018.
  • Highfields Capital Management opened 4 new positions and closed 25 in Q4 2018.
  • Highfields Capital Management's portfolio value fell 60% quarter-over-quarter to $2.12B.

Based on Highfields Capital Management's 13F filing for Q4 2018, filed 14 Feb 2019.