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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
-0.69%
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
Cap. Flow
-$1.18B
Cap. Flow %
-11%
Top 10 Hldgs %
45.79%
Holding
94
New
17
Increased
24
Reduced
14
Closed
21

Top Buys

Rank Stock Value
1
MAR icon
Marriott International
MAR
+$449M
2
WBA
Walgreens Boots Alliance
WBA
+$223M
3
WMB icon
Williams Companies
WMB
+$207M
4
PEP icon
PepsiCo
PEP
+$200M
5
PFE icon
Pfizer
PFE
+$177M

Top Sells

Rank Stock Value
1
MCD icon
McDonald's
MCD
+$854M
2
MSFT icon
Microsoft
MSFT
+$710M
3
MHFI
MCGRAW-HILL FINANCIAL INC COM
MHFI
+$275M
4
PRGO icon
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
KLXI
51
DELISTED
KLX Inc.
KLXI
$25M 0.23%
921,531
– –
VOD icon
52
Vodafone
VOD
$37.1B
$24.8M 0.23%
775,107
– –
BEN icon
53
CALL
Franklin Templeton
BEN
$17.6B
$21.5M 0.2%
+550,000
New +$19.5M
GS icon
54
Goldman Sachs
GS
$301B
$20.3M 0.19%
+129,500
New +$20M
JPM icon
55
PUT
JPMorgan Chase
JPM
$951B
$17.8M 0.17%
+300,000
New +$17.5M
RSX
56
DELISTED
VanEck Russia ETF
RSX
$16M 0.15%
977,602
– –
DD
57
CALL
DELISTED
Du Pont De Nemours E I
DD
$15.8M 0.15%
250,000
– –
ET icon
58
CALL
Energy Transfer Partners
ET
$73.4B
$13.9M 0.13%
+1,950,000
New +$15.3M
ZAYO
59
DELISTED
Zayo Group Holdings, Inc.
ZAYO
$12.1M 0.11%
500,000
– –
EBAY icon
60
eBay
EBAY
$47B
$11.9M 0.11%
500,000
-1,877,703
-79% -$45.7M
CBRE icon
61
CBRE Group
CBRE
$43.7B
$11M 0.1%
+382,000
New +$10.5M
RDS.B
62
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
$9.84M 0.09%
+200,000
New +$8.98M
ELECU
63
DELISTED
Electrum Special Acquisition Corporation
ELECU
$8.36M 0.08%
850,000
– –
TV icon
64
Televisa
TV
$1.45B
$7.42M 0.07%
270,200
– –
PMT
65
PennyMac Mortgage Investment
PMT
$814M
$6.82M 0.06%
500,000
– –
MDY icon
66
State Street SPDR S&P MIDCAP 400 ETF Trust
MDY
$26.4B
$5.83M 0.05%
22,192
– –
YUM icon
67
Yum! Brands
YUM
$42B
$4.5M 0.04%
76,505
-445,120
-85% -$23.4M
WDC icon
68
Western Digital
WDC
$166B
$4.35M 0.04%
121,716
– –
YPF icon
69
YPF Sociedad Anonima ADS
YPF
$19.7B
$2.28M 0.02%
127,549
-2,478,170
-95% -$41.1M
CC icon
70
Chemours
CC
$2.35B
$1.83M 0.02%
261,965
– –
MTCH icon
71
Match Group
MTCH
$9.54B
$553K 0.01%
50,000
– –
RY icon
72
Royal Bank of Canada
RY
$283B
$289K ﹤0.01%
5,000
– –
CYHHZ
73
DELISTED
Community Health Systems, Inc. Series A Contingent Value Rights
CYHHZ
$1K ﹤0.01%
199,320
– –
ENB icon
74
Enbridge
ENB
$110B
– –
-2,250,820
Closed -$74.7M
B
75
CALL
Barrick Mining
B
$75.1B
– –
-5,000,000
Closed -$36.9M
1 2
3
4

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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.