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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
+1.7%
1 Year Est. Return
-21.64%
3 Year Est. Return
-4.74%
5 Year Est. Return
+9.61%
10 Year Est. Return
–
AUM
$13.5B
AUM Growth
+$2.72B
(+25%)
Cap. Flow
+$1.83B
Cap. Flow
% of AUM
13.55%
Top 10 Holdings %
Top 10 Hldgs %
50.49%
Holding
83
New
16
Increased
21
Reduced
12
Closed
12
Avg Time Held Equity + Options
1.1
years
Top 10 Avg Time Held Equity + Options
1.1
years
Top 20 Avg Time Held Equity + Options
0.9
years
Avg Time Held Equity only
1.2
years
Top 10 Avg Time Held Equity only
1.2
years
Top 20 Avg Time Held Equity only
1
year
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Invesco QQQ Trust
QQQ
|
+$966M |
| 2 |
HDS
HD Supply Holdings, Inc.
HDS
|
+$358M |
| 3 |
BHI
Baker Hughes
BHI
|
+$349M |
| 4 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$224M |
| 5 |
TWX
Time Warner Inc
TWX
|
+$200M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
American Tower
AMT
|
+$408M |
| 2 |
BEAV
B/E Aerospace Inc
BEAV
|
+$305M |
| 3 |
Coca-Cola Europacific Partners
CCEP
|
+$140M |
| 4 |
YHOO
Yahoo Inc
YHOO
|
+$139M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$131M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 17.52% |
| 2 | Consumer Discretionary | 15.36% |
| 3 | Communication Services | 14.23% |
| 4 | Financials | 12.36% |
| 5 | Healthcare | 9.71% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
51
Herc Holdings
HRI
$4.12B
| $51.2M | 0.38% |
1,302,104
| – | – |
2014 Q2
12 quarters
|
|
|
EGN
52
CALL
DELISTED
Energen
EGN
| $49.4M | 0.37% |
+1,000,000
| New | +$53.4M |
2017 Q2
0 quarters
|
|
|
ICPT
53
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $47.1M | 0.35% |
389,232
+25,000
| +7% | +$2.9M |
2015 Q1
9 quarters
|
|
|
AGN
54
DELISTED
Allergan plc
AGN
| $40.4M | 0.3% |
166,000
+91,000
| +121% | +$21.4M |
2016 Q2
4 quarters
|
|
55
AerCap
AER
$22.7B
| $35.1M | 0.26% |
756,068
| – | – |
2015 Q3
7 quarters
|
|
56
DuPont de Nemours
DD
$17.4B
| $31.5M | 0.23% |
197,441
| – | – |
2017 Q1
1 quarter
|
|
57
FirstEnergy
FE
$26.3B
| $29.2M | 0.22% |
+1,000,000
| New | +$29.7M |
2017 Q2
0 quarters
|
|
58
State Street SPDR S&P 500 ETF Trust
SPY
$813B
| $28.7M | 0.21% |
118,546
+22,501
| +23% | +$5.39M |
2017 Q1
1 quarter
|
|
59
iShares S&P Mid-Cap 400 Growth ETF
IJK
$10.4B
| $27.1M | 0.2% |
551,604
| – | – |
2017 Q1
1 quarter
|
|
60
iShares S&P Mid-Cap 400 Value ETF
IJJ
$8.43B
| $25.4M | 0.19% |
342,582
| – | – |
2017 Q1
1 quarter
|
|
61
CALL
Cenovus Energy
CVE
$60.2B
| $22.1M | 0.16% |
+3,000,000
| New | +$27.8M |
2017 Q2
0 quarters
|
|
62
Synchrony
SYF
$23.3B
| $20.9M | 0.15% |
+700,000
| New | +$20.8M |
2017 Q2
0 quarters
|
|
|
WPZ
63
DELISTED
Williams Partners L.P.
WPZ
| $20.1M | 0.15% |
500,000
| – | – |
2017 Q1
1 quarter
|
|
64
Apollo Global Management
APO
$67B
| $19.3M | 0.14% |
730,405
-847,594
| -54% | -$22.6M |
2015 Q1
9 quarters
|
|
65
PUT
NVIDIA
NVDA
$5.34T
| $14.5M | 0.11% |
4,000,000
| – | – |
2017 Q1
1 quarter
|
|
66
PennyMac Mortgage Investment
PMT
$599M
| $9.14M | 0.07% |
500,000
| – | – |
2013 Q2
16 quarters
|
|
67
Conduent
CNDT
$232M
| $5.22M | 0.04% |
+327,400
| New | +$5.36M |
2017 Q2
0 quarters
|
|
68
iShares S&P 500 Growth ETF
IVW
$78.3B
| $2.16M | 0.02% |
63,244
| – | – |
2017 Q1
1 quarter
|
|
|
ELECW
69
DELISTED
Electrum Special Acquisition Corporation
ELECW
| $306K | ﹤0.01% |
+850,000
| New | +$284K |
2017 Q2
0 quarters
|
|
70
Northern Dynasty Minerals
NAK
$532M
| $106K | ﹤0.01% |
76,261
-2,950,000
| -97% | -$4.73M |
2017 Q1
1 quarter
|
|
71
Baytex Energy
BTE
$3.55B
| – | – |
-250,000
| Closed | -$851K | – |
|
72
CVS Health
CVS
$116B
| – | – |
-946,100
| Closed | -$74.3M | – |
|
73
CALL
FedEx
FDX
$68.9B
| – | – |
-5,000
| Closed | -$976K | – |
|
74
People Inc
PPLI
$3.02B
| – | – |
-1,721,427
| Closed | -$22.7M | – |
|
75
Kinder Morgan
KMI
$74.3B
| – | – |
-1,000,200
| Closed | -$21.7M | – |
|
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Highfields Capital Management's Q2 2017 Portfolio in Review
As of Q2 2017, Highfields Capital Management held 83 positions worth $13.5B, up 25% from $10.8B the previous quarter. Its ten largest holdings account for 50% of the portfolio.
Highfields Capital Management deployed $1.83B of net new capital in Q2 2017, opening 16 new positions and adding to 21 existing holdings. Its largest new stake was Invesco QQQ Trust: 7,025,000 shares worth $967M.
By sector, the portfolio is most concentrated in Miscellaneous at 18% of assets, up from 7.2% a quarter earlier, followed by Consumer Discretionary and Communication Services.
On the sell side, the largest reduction was American Tower, an estimated $408M trimmed.
- Highfields Capital Management's largest Q2 2017 buy was Invesco QQQ Trust: 7,025,000 shares worth $967M.
- Highfields Capital Management added most to Time Warner Inc in Q2 2017, an estimated $200M increase.
- Highfields Capital Management's biggest Q2 2017 reduction was American Tower, cutting an estimated $408M.
- Highfields Capital Management fully exited B/E Aerospace Inc in Q2 2017, selling an estimated $305M.
- Highfields Capital Management's ten largest holdings make up 50% of its $13.5B portfolio in Q2 2017.
- Highfields Capital Management opened 16 new positions and closed 12 in Q2 2017.
- Highfields Capital Management's portfolio value rose 25% quarter-over-quarter to $13.5B.
Based on Highfields Capital Management's 13F filing for Q2 2017, filed 14 Aug 2017.