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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
-4.08%
1 Year Est. Return
-21.64%
3 Year Est. Return
-4.74%
5 Year Est. Return
+9.61%
10 Year Est. Return
–
AUM
$11B
AUM Growth
-$984M
Cap. Flow
-$93.9M
Cap. Flow %
-0.85%
Top 10 Hldgs %
55.92%
Holding
78
New
14
Increased
11
Reduced
15
Closed
18
Avg Time Held Equity + Options
1.5 years
Top 10 Avg Time Held Equity + Options
0.9 years
Top 20 Avg Time Held Equity + Options
1.2 years
Avg Time Held Equity only
1.5 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
AET
Aetna Inc
AET
+$517M
2
CMCSA icon
Comcast
CMCSA
+$451M
3
DIS icon
Walt Disney
DIS
+$441M
4
EQT icon
EQT Corp
EQT
+$189M
5
EXPE icon
Expedia Group
EXPE
+$155M

Top Sells

Rank Stock Value
1
MAR icon
Marriott International
MAR
+$430M
2
PXD icon
Pioneer Natural Resource Co.
PXD
+$351M
3
AMZN icon
Amazon
AMZN
+$292M
4
DD icon
DuPont de Nemours
DD
+$277M
5
BKR icon
Baker Hughes
BKR
+$154M

Sector Composition

Rank Sector Weight
1 Communication Services 35.47%
2 Consumer Discretionary 13.02%
3 Healthcare 12.79%
4 Materials 10.35%
5 Financials 8.8%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
ICPT
51
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
$20.9M 0.19%
339,232
– –
2015 Q1
12 quarters
LOW icon
52
Lowe's Companies
LOW
$110B
$19.7M 0.18%
+225,000
New +$21.3M
2018 Q1
0 quarters
CNQ icon
53
Canadian Natural Resources
CNQ
$107B
$18.8M 0.17%
+1,225,200
New +$19.7M
2018 Q1
0 quarters
STNLU
54
DELISTED
Sentinel Energy Services Inc. Unit
STNLU
$15.9M 0.14%
1,600,000
– –
2017 Q4
1 quarter
MLM icon
55
Martin Marietta Materials
MLM
$34.9B
$12.9M 0.12%
+62,001
New +$13.4M
2018 Q1
0 quarters
HGV icon
56
Hilton Grand Vacations
HGV
$2.8B
$8.19M 0.07%
190,451
-2,256,442
-92% -$98.9M
2017 Q1
4 quarters
AGN
57
DELISTED
Allergan plc
AGN
$6.31M 0.06%
37,500
– –
2016 Q2
7 quarters
AMRWW
58
DELISTED
Alta Mesa Resources Inc Warrant
AMRWW
$5.94M 0.05%
+3,833,333
New +$6.64M
2018 Q1
0 quarters
ELECW
59
DELISTED
Electrum Special Acquisition Corporation
ELECW
$271K ﹤0.01%
846,400
-3,600
-0.4% -$1.3K
2017 Q2
3 quarters
AMZN icon
60
Amazon
AMZN
$2.75T
– –
-5,000,000
Closed -$292M –
APO icon
61
Apollo Global Management
APO
$66.1B
– –
-316,346
Closed -$10.6M –
AXP icon
62
American Express
AXP
$212B
– –
-600,000
Closed -$59.6M –
BKR icon
63
Baker Hughes
BKR
$54B
– –
-4,868,118
Closed -$154M –
CP icon
64
Canadian Pacific Kansas City
CP
$76.4B
– –
-500,000
Closed -$18.3M –
CTSH icon
65
Cognizant
CTSH
$29.6B
– –
-339,554
Closed -$24.1M –
DD icon
66
DuPont de Nemours
DD
$17.8B
– –
-1,536,181
Closed -$277M –
GE icon
67
GE Aerospace
GE
$324B
– –
-439,341
Closed -$36.7M –
GS icon
68
Goldman Sachs
GS
$260B
– –
-517,688
Closed -$132M –
KR icon
69
Kroger
KR
$37B
– –
-2,610,000
Closed -$71.6M –
NVDA icon
70
NVIDIA
NVDA
$5.25T
– –
-30,996,000
Closed -$150M –
PAGP icon
71
Plains GP Holdings
PAGP
$5.38B
– –
-2,394,133
Closed -$52.6M –
VZ icon
72
Verizon
VZ
$184B
– –
-210,000
Closed -$11.1M –
WMT icon
73
PUT
Walmart Inc
WMT
$935B
– –
-12,000,000
Closed -$395M –
CERN
74
DELISTED
Cerner Corp
CERN
– –
-486,740
Closed -$32.8M –
TCO
75
DELISTED
Taubman Centers Inc.
TCO
– –
-450,000
Closed -$29.4M –
1 2
3
4

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Highfields Capital Management's Q1 2018 Portfolio in Review

As of Q1 2018, Highfields Capital Management held 78 positions worth $11B, down 8.2% from $12B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Highfields Capital Management's Q1 2018 filing shows 14 new, 11 increased, 15 reduced and 18 closed positions. Its largest new stake was Aetna Inc: 2,875,697 shares worth $486M. The largest sale was Marriott International, an estimated $430M.

By sector, the portfolio is most concentrated in Communication Services at 35% of assets, up from 25% a quarter earlier, followed by Consumer Discretionary and Healthcare.

  • Highfields Capital Management's largest Q1 2018 buy was Aetna Inc: 2,875,697 shares worth $486M.
  • Highfields Capital Management added most to Comcast in Q1 2018, an estimated $451M increase.
  • Highfields Capital Management's biggest Q1 2018 reduction was Marriott International, cutting an estimated $430M.
  • Highfields Capital Management fully exited Amazon in Q1 2018, selling an estimated $292M.
  • Highfields Capital Management's ten largest holdings make up 56% of its $11B portfolio in Q1 2018.
  • Highfields Capital Management opened 14 new positions and closed 18 in Q1 2018.
  • Highfields Capital Management's portfolio value fell 8.2% quarter-over-quarter to $11B.

Based on Highfields Capital Management's 13F filing for Q1 2018, filed 15 May 2018.