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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
+3.86%
1 Year Est. Return
-21.64%
3 Year Est. Return
-4.74%
5 Year Est. Return
+9.61%
10 Year Est. Return
–
AUM
$12.1B
AUM Growth
+$1.38B
(+13%)
Cap. Flow
+$973M
Cap. Flow
% of AUM
8.08%
Top 10 Holdings %
Top 10 Hldgs %
49.87%
Holding
85
New
13
Increased
20
Reduced
13
Closed
16
Avg Time Held Equity + Options
1.3
years
Top 10 Avg Time Held Equity + Options
0.9
years
Top 20 Avg Time Held Equity + Options
1
year
Avg Time Held Equity only
1.4
years
Top 10 Avg Time Held Equity only
0.9
years
Top 20 Avg Time Held Equity only
1.2
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Teva Pharmaceutical Industries Limited
TEVA
|
+$347M |
| 2 |
FedEx
FDX
|
+$298M |
| 3 |
Invesco
IVZ
|
+$285M |
| 4 |
American Tower
AMT
|
+$251M |
| 5 |
Cognizant
CTSH
|
+$242M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$229M |
| 2 |
Suncor Energy
SU
|
+$194M |
| 3 |
Anadarko Petroleum
APC
|
+$175M |
| 4 |
Williams Companies
WMB
|
+$157M |
| 5 |
CF Industries
CF
|
+$156M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 19.37% |
| 2 | Communication Services | 13.72% |
| 3 | Healthcare | 13.72% |
| 4 | Financials | 12.11% |
| 5 | Miscellaneous | 10.24% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
51
Herc Holdings
HRI
$4.12B
| $52.3M | 0.43% |
1,302,104
| – | – |
2014 Q2
10 quarters
|
|
52
Citigroup
C
$205B
| $51.1M | 0.42% |
860,500
| – | – |
2013 Q2
14 quarters
|
|
|
ICPT
53
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $50.4M | 0.42% |
464,232
+185,000
| +66% | +$22M |
2015 Q1
7 quarters
|
|
54
News Corp Class A
NWSA
$15.9B
| $50.4M | 0.42% |
4,393,573
| – | – |
2013 Q3
13 quarters
|
|
55
Apollo Global Management
APO
$67B
| $44.1M | 0.37% |
2,278,199
-405,329
| -15% | -$7.66M |
2015 Q1
7 quarters
|
|
56
Howmet Aerospace
HWM
$86.8B
| $37.1M | 0.31% |
+2,608,000
| New | +$39.2M |
2016 Q4
0 quarters
|
|
57
PUT
JPMorgan Chase
JPM
$890B
| $25.9M | 0.21% |
300,000
| – | – |
2016 Q1
3 quarters
|
|
58
Gilead Sciences
GILD
$190B
| $24.9M | 0.21% |
+348,100
| New | +$25.9M |
2016 Q4
0 quarters
|
|
59
CALL
Franklin Templeton
BEN
$15.5B
| $21.8M | 0.18% |
550,000
-300,000
| -35% | -$11.2M |
2016 Q1
3 quarters
|
|
|
RSX
60
DELISTED
VanEck Russia ETF
RSX
| $20.7M | 0.17% |
977,602
| – | – |
2014 Q1
11 quarters
|
|
|
ELECU
61
DELISTED
Electrum Special Acquisition Corporation
ELECU
| $8.64M | 0.07% |
850,000
| – | – |
2015 Q2
6 quarters
|
|
62
PennyMac Mortgage Investment
PMT
$599M
| $8.19M | 0.07% |
500,000
| – | – |
2013 Q2
14 quarters
|
|
63
iShares Russell 2000 ETF
IWM
$76.4B
| $3.62M | 0.03% |
26,849
| – | – |
2016 Q3
1 quarter
|
|
|
64
CALL
American Tower
AMT
$83.6B
| $2.11M | 0.02% |
+20,000
| New | +$2.17M |
2016 Q4
0 quarters
|
|
65
YPF Sociedad Anonima ADS
YPF
$20.5B
| $2.1M | 0.02% |
127,549
| – | – |
2013 Q2
14 quarters
|
|
|
66
DELISTED
Anadarko Petroleum
APC
| $2.06M | 0.02% |
29,621
-2,690,343
| -99% | -$175M |
2013 Q2
14 quarters
|
|
|
67
CALL
FedEx
FDX
$68.9B
| $931K | 0.01% |
+5,000
| New | +$918K |
2016 Q4
0 quarters
|
|
68
Match Group
MTCH
$9.73B
| $855K | 0.01% |
50,000
| – | – |
2015 Q4
4 quarters
|
|
69
Alcoa
AA
$10.6B
| – | – |
-624,220
| Closed | -$15.2M | – |
|
|
70
CF Industries
CF
$18.1B
| – | – |
-6,403,696
| Closed | -$156M | – |
|
71
Costco
COST
$435B
| – | – |
-436,000
| Closed | -$66.5M | – |
|
72
SPDR Gold Trust
GLD
$139B
| – | – |
-283,000
| Closed | -$35.6M | – |
|
73
CALL
Herbalife
HLF
$1.49B
| – | – |
-2,000,000
| Closed | -$62M | – |
|
74
Hershey
HSY
$33B
| – | – |
-1,000,000
| Closed | -$95.6M | – |
|
75
Itaú Unibanco
ITUB
$107B
| – | – |
-12,131,889
| Closed | -$58.5M | – |
|
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Highfields Capital Management's Q4 2016 Portfolio in Review
As of Q4 2016, Highfields Capital Management held 85 positions worth $12.1B, up 13% from $10.7B the previous quarter. Its ten largest holdings account for 50% of the portfolio.
Highfields Capital Management deployed $973M of net new capital in Q4 2016, opening 13 new positions and adding to 20 existing holdings. Its largest new stake was FedEx: 1,621,385 shares worth $302M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 19% of assets, up from 19% a quarter earlier, followed by Communication Services and Healthcare.
On the sell side, the largest reduction was Alphabet (Google) Class C, an estimated $229M trimmed.
- Highfields Capital Management's largest Q4 2016 buy was FedEx: 1,621,385 shares worth $302M.
- Highfields Capital Management added most to Teva Pharmaceutical Industries Limited in Q4 2016, an estimated $347M increase.
- Highfields Capital Management's biggest Q4 2016 reduction was Alphabet (Google) Class C, cutting an estimated $229M.
- Highfields Capital Management fully exited Suncor Energy in Q4 2016, selling an estimated $194M.
- Highfields Capital Management's ten largest holdings make up 50% of its $12.1B portfolio in Q4 2016.
- Highfields Capital Management opened 13 new positions and closed 16 in Q4 2016.
- Highfields Capital Management's portfolio value rose 13% quarter-over-quarter to $12.1B.
Based on Highfields Capital Management's 13F filing for Q4 2016, filed 14 Feb 2017.