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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
+4.8%
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
-$806M
Cap. Flow
-$907M
Cap. Flow %
-8.5%
Top 10 Hldgs %
49.51%
Holding
88
New
14
Increased
8
Reduced
21
Closed
15

Top Buys

Rank Stock Value
1
MON
Monsanto Co
MON
+$320M
2
HLT icon
Hilton Worldwide
HLT
+$160M
3
MAR icon
Marriott International
MAR
+$121M
4
BEN icon
Franklin Templeton
BEN
+$120M
5
HTZ
Hertz Global Holdings, Inc.
HTZ
+$116M

Top Sells

Rank Stock Value
1
WMB icon
Williams Companies
WMB
+$301M
2
TEVA icon
Teva Pharmaceuticals
TEVA
+$280M
3
EMC
EMC CORPORATION
EMC
+$193M
4
HOT
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
+$184M
5
HRI icon
Herc Holdings
HRI
+$175M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 19.14%
2 Communication Services 14.71%
3 Healthcare 13.94%
4 Materials 10.46%
5 Financials 10.26%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GLD icon
51
SPDR Gold Trust
GLD
$149B
$35.6M 0.33%
+283,000
New +$36M
CERN
52
DELISTED
Cerner Corp
CERN
$32M 0.3%
518,671
-491,484
-49% -$31M
BEN icon
53
CALL
Franklin Templeton
BEN
$17.6B
$30.2M 0.28%
850,000
– –
PDCE
54
DELISTED
PDC Energy, Inc.
PDCE
$26.8M 0.25%
+400,000
New +$24.2M
TSLA icon
55
PUT
Tesla
TSLA
$1.38T
$20.4M 0.19%
1,500,000
-12,000,000
-89% -$173M
JPM icon
56
PUT
JPMorgan Chase
JPM
$951B
$20M 0.19%
300,000
– –
RSX
57
DELISTED
VanEck Russia ETF
RSX
$18.3M 0.17%
977,602
– –
TRU icon
58
TransUnion
TRU
$16.4B
$17.3M 0.16%
+500,000
New +$16.7M
AA icon
59
Alcoa
AA
$13.3B
$15.2M 0.14%
+624,220
New +$15.2M
CVE icon
60
Cenovus Energy
CVE
$58.2B
$14.4M 0.13%
+1,000,000
New +$14.3M
ILG
61
DELISTED
ILG, Inc Common Stock
ILG
$12.7M 0.12%
742,499
-235,428
-24% -$4.07M
VOD icon
62
Vodafone
VOD
$37.1B
$9.53M 0.09%
326,817
– –
ELECU
63
DELISTED
Electrum Special Acquisition Corporation
ELECU
$8.55M 0.08%
850,000
– –
PMT
64
PennyMac Mortgage Investment
PMT
$814M
$7.79M 0.07%
500,000
– –
TV icon
65
Televisa
TV
$1.45B
$6.94M 0.07%
270,200
– –
MDY icon
66
State Street SPDR S&P MIDCAP 400 ETF Trust
MDY
$26.4B
$6.26M 0.06%
22,192
– –
VMW
67
DELISTED
VMware, Inc
VMW
$3.74M 0.04%
+51,000
New +$3.59M
IWM icon
68
iShares Russell 2000 ETF
IWM
$80.8B
$3.33M 0.03%
+26,849
New +$3.26M
YPF icon
69
YPF Sociedad Anonima ADS
YPF
$19.7B
$2.32M 0.02%
127,549
– –
MTCH icon
70
Match Group
MTCH
$9.54B
$890K 0.01%
50,000
– –
CYHHZ
71
DELISTED
Community Health Systems, Inc. Series A Contingent Value Rights
CYHHZ
$2K ﹤0.01%
199,320
– –
BABA icon
72
CALL
Alibaba
BABA
$296B
– –
-350,000
Closed -$27.8M
BHC icon
73
Bausch Health
BHC
$2.36B
– –
-250,000
Closed -$5.04M
BP icon
74
BP
BP
$109B
– –
-2,971,242
Closed -$88.8M
CC icon
75
Chemours
CC
$2.35B
– –
-261,965
Closed -$2.16M
1 2
3
4

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Highfields Capital Management's Q3 2016 Portfolio in Review

As of Q3 2016, Highfields Capital Management held 88 positions worth $10.7B, down 7% from $11.5B the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Highfields Capital Management withdrew a net $907M in Q3 2016, closing 15 positions and reducing 21 holdings. Its most notable exit was EMC CORPORATION, an estimated $193M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 19% of assets, up from 16% a quarter earlier, followed by Communication Services and Healthcare.

Against the trend, Highfields Capital Management opened a new position in Hertz Global Holdings, Inc. worth $96.4M.

  • Highfields Capital Management's largest Q3 2016 buy was Hertz Global Holdings, Inc.: 2,761,826 shares worth $96.4M.
  • Highfields Capital Management added most to Monsanto Co in Q3 2016, an estimated $320M increase.
  • Highfields Capital Management's biggest Q3 2016 reduction was Williams Companies, cutting an estimated $301M.
  • Highfields Capital Management fully exited EMC CORPORATION in Q3 2016, selling an estimated $193M.
  • Highfields Capital Management's ten largest holdings make up 50% of its $10.7B portfolio in Q3 2016.
  • Highfields Capital Management opened 14 new positions and closed 15 in Q3 2016.
  • Highfields Capital Management's portfolio value fell 7% quarter-over-quarter to $10.7B.

Based on Highfields Capital Management's 13F filing for Q3 2016, filed 14 Nov 2016.