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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
-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
(-7.7%)
Cap. Flow
-$1.18B
Cap. Flow
% of AUM
-11%
Top 10 Holdings %
Top 10 Hldgs %
45.79%
Holding
94
New
17
Increased
24
Reduced
14
Closed
21
Avg Time Held Equity + Options
1
year
Top 10 Avg Time Held Equity + Options
0.7
years
Top 20 Avg Time Held Equity + Options
0.8
years
Avg Time Held Equity only
1.1
years
Top 10 Avg Time Held Equity only
0.7
years
Top 20 Avg Time Held Equity only
0.8
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Marriott International
MAR
|
+$449M |
| 2 |
Walgreens Boots Alliance
WBA
|
+$223M |
| 3 |
Williams Companies
WMB
|
+$207M |
| 4 |
PepsiCo
PEP
|
+$200M |
| 5 |
Pfizer
PFE
|
+$177M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
McDonald's
MCD
|
+$854M |
| 2 |
Microsoft
MSFT
|
+$710M |
| 3 |
MHFI
MCGRAW-HILL FINANCIAL INC COM
MHFI
|
+$275M |
| 4 |
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 | Held Since | |
|---|---|---|---|---|---|---|---|
|
KLXI
51
DELISTED
KLX Inc.
KLXI
| $25M | 0.23% |
921,531
| – | – |
2015 Q1
4 quarters
|
|
52
Vodafone
VOD
$35.9B
| $24.8M | 0.23% |
775,107
| – | – |
2013 Q2
11 quarters
|
|
53
CALL
Franklin Templeton
BEN
$15.5B
| $21.5M | 0.2% |
+550,000
| New | +$19.5M |
2016 Q1
0 quarters
|
|
54
Goldman Sachs
GS
$256B
| $20.3M | 0.19% |
+129,500
| New | +$20M |
2016 Q1
0 quarters
|
|
55
PUT
JPMorgan Chase
JPM
$890B
| $17.8M | 0.17% |
+300,000
| New | +$17.5M |
2016 Q1
0 quarters
|
|
|
RSX
56
DELISTED
VanEck Russia ETF
RSX
| $16M | 0.15% |
977,602
| – | – |
2014 Q1
8 quarters
|
|
57
CALL
DELISTED
Du Pont De Nemours E I
DD
| $15.8M | 0.15% |
250,000
| – | – |
2015 Q4
1 quarter
|
|
58
CALL
Energy Transfer Partners
ET
$69.7B
| $13.9M | 0.13% |
+1,950,000
| New | +$15.3M |
2016 Q1
0 quarters
|
|
|
ZAYO
59
DELISTED
Zayo Group Holdings, Inc.
ZAYO
| $12.1M | 0.11% |
500,000
| – | – |
2014 Q4
5 quarters
|
|
60
eBay
EBAY
$52B
| $11.9M | 0.11% |
500,000
-1,877,703
| -79% | -$45.7M |
2014 Q1
8 quarters
|
|
61
CBRE Group
CBRE
$37.3B
| $11M | 0.1% |
+382,000
| New | +$10.5M |
2016 Q1
0 quarters
|
|
|
RDS.B
62
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
| $9.84M | 0.09% |
+200,000
| New | +$8.98M |
2016 Q1
0 quarters
|
|
|
ELECU
63
DELISTED
Electrum Special Acquisition Corporation
ELECU
| $8.36M | 0.08% |
850,000
| – | – |
2015 Q2
3 quarters
|
|
64
Televisa
TV
$1.25B
| $7.42M | 0.07% |
270,200
| – | – |
2013 Q3
10 quarters
|
|
65
PennyMac Mortgage Investment
PMT
$599M
| $6.82M | 0.06% |
500,000
| – | – |
2013 Q2
11 quarters
|
|
66
State Street SPDR S&P MIDCAP 400 ETF Trust
MDY
$25.3B
| $5.83M | 0.05% |
22,192
| – | – |
2015 Q4
1 quarter
|
|
67
Yum! Brands
YUM
$40B
| $4.5M | 0.04% |
76,505
-445,120
| -85% | -$23.4M |
2015 Q3
2 quarters
|
|
68
Western Digital
WDC
$136B
| $4.35M | 0.04% |
121,716
| – | – |
2015 Q3
2 quarters
|
|
69
YPF Sociedad Anonima ADS
YPF
$20.5B
| $2.28M | 0.02% |
127,549
-2,478,170
| -95% | -$41.1M |
2013 Q2
11 quarters
|
|
70
Chemours
CC
$1.93B
| $1.83M | 0.02% |
261,965
| – | – |
2015 Q3
2 quarters
|
|
71
Match Group
MTCH
$9.73B
| $553K | 0.01% |
50,000
| – | – |
2015 Q4
1 quarter
|
|
72
Royal Bank of Canada
RY
$268B
| $289K | ﹤0.01% |
5,000
| – | – |
2015 Q2
3 quarters
|
|
|
CYHHZ
73
DELISTED
Community Health Systems, Inc. Series A Contingent Value Rights
CYHHZ
| $1K | ﹤0.01% |
199,320
| – | – |
2014 Q1
8 quarters
|
|
74
Enbridge
ENB
$106B
| – | – |
-2,250,820
| Closed | -$74.7M | – |
|
75
CALL
Barrick Mining
B
$64B
| – | – |
-5,000,000
| Closed | -$36.9M | – |
|
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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.