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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
+6.08%
1 Year Est. Return
-21.64%
3 Year Est. Return
-4.74%
5 Year Est. Return
+9.61%
10 Year Est. Return
–
AUM
$9.09B
AUM Growth
-$1.95B
Cap. Flow
-$2.79B
Cap. Flow %
-30.65%
Top 10 Hldgs %
54.24%
Holding
77
New
17
Increased
10
Reduced
17
Closed
20

Top Buys

Rank Stock Value
1
NXPI icon
NXP Semiconductors
NXPI
+$788M
2
CVS icon
CVS Health
CVS
+$253M
3
CHTR icon
Charter Communications
CHTR
+$211M
4
META icon
Meta Platforms (Facebook)
META
+$106M
5
AET
Aetna Inc
AET
+$81.6M

Top Sells

Rank Stock Value
1
TWX
Time Warner Inc
TWX
+$1.17B
2
MON
Monsanto Co
MON
+$845M
3
HCA icon
HCA Healthcare
HCA
+$449M
4
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
+$279M
5
EXPE icon
Expedia Group
EXPE
+$239M

Sector Composition

Rank Sector Weight
1 Communication Services 33.14%
2 Healthcare 14.38%
3 Consumer Discretionary 12.13%
4 Financials 10.36%
5 Technology 9.05%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PXD
51
DELISTED
Pioneer Natural Resource Co.
PXD
$7.57M 0.08%
40,000
-665,000
-94% -$127M
PXD
52
PUT
DELISTED
Pioneer Natural Resource Co.
PXD
$7.57M 0.08%
+40,000
New +$7.66M
HGV icon
53
Hilton Grand Vacations
HGV
$3.27B
$6.61M 0.07%
190,451
– –
AGN
54
DELISTED
Allergan plc
AGN
$6.25M 0.07%
37,500
– –
AMRWW
55
DELISTED
Alta Mesa Resources Inc Warrant
AMRWW
$5.37M 0.06%
3,833,333
– –
H icon
56
Hyatt Hotels
H
$15.6B
$2.66M 0.03%
34,500
-763,188
-96% -$60.7M
CNNE icon
57
Cannae Holdings
CNNE
$687M
– –
-1,475,060
Closed -$27.8M
CNQ icon
58
Canadian Natural Resources
CNQ
$104B
– –
-1,225,200
Closed -$18.8M
DLTR icon
59
Dollar Tree
DLTR
$24.7B
– –
-1,281,149
Closed -$122M
ENB icon
60
Enbridge
ENB
$109B
– –
-2,030,700
Closed -$63.8M
EXPE icon
61
Expedia Group
EXPE
$35.8B
– –
-2,163,934
Closed -$239M
HAL icon
62
Halliburton
HAL
$30.9B
– –
-1,270,000
Closed -$59.6M
IVZ icon
63
Invesco
IVZ
$14.6B
– –
-3,638,971
Closed -$116M
LOW icon
64
Lowe's Companies
LOW
$115B
– –
-225,000
Closed -$19.7M
MDLZ icon
65
Mondelez International
MDLZ
$78.2B
– –
-1,305,000
Closed -$54.5M
MLM icon
66
Martin Marietta Materials
MLM
$36.6B
– –
-62,001
Closed -$12.9M
SYF icon
67
Synchrony
SYF
$26B
– –
-700,000
Closed -$23.5M
TGT icon
68
Target
TGT
$74.7B
– –
-555,431
Closed -$38.6M
X
69
DELISTED
US Steel
X
– –
-1,680,000
Closed -$59.1M
PE
70
DELISTED
PARSLEY ENERGY INC
PE
– –
-2,003,000
Closed -$58.1M
HDS
71
DELISTED
HD Supply Holdings, Inc.
HDS
– –
-3,472,039
Closed -$132M
STNLU
72
DELISTED
Sentinel Energy Services Inc. Unit
STNLU
– –
-1,600,000
Closed -$15.9M
TWX
73
DELISTED
Time Warner Inc
TWX
– –
-12,405,933
Closed -$1.17B
MON
74
DELISTED
Monsanto Co
MON
– –
-7,245,198
Closed -$845M
ELECW
75
DELISTED
Electrum Special Acquisition Corporation
ELECW
– –
-846,400
Closed -$271K
1 2
3
4

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Highfields Capital Management's Q2 2018 Portfolio in Review

As of Q2 2018, Highfields Capital Management held 77 positions worth $9.09B, down 18% from $11B the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Highfields Capital Management withdrew a net $2.79B in Q2 2018, closing 20 positions and reducing 17 holdings. Its most notable exit was Time Warner Inc, an estimated $1.17B position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 33% of assets, down from 35% a quarter earlier, followed by Healthcare and Consumer Discretionary.

Against the trend, Highfields Capital Management opened a new position in NXP Semiconductors worth $781M.

  • Highfields Capital Management's largest Q2 2018 buy was NXP Semiconductors: 7,145,664 shares worth $781M.
  • Highfields Capital Management added most to Charter Communications in Q2 2018, an estimated $211M increase.
  • Highfields Capital Management's biggest Q2 2018 reduction was HCA Healthcare, cutting an estimated $449M.
  • Highfields Capital Management fully exited Time Warner Inc in Q2 2018, selling an estimated $1.17B.
  • Highfields Capital Management's ten largest holdings make up 54% of its $9.09B portfolio in Q2 2018.
  • Highfields Capital Management opened 17 new positions and closed 20 in Q2 2018.
  • Highfields Capital Management's portfolio value fell 18% quarter-over-quarter to $9.09B.

Based on Highfields Capital Management's 13F filing for Q2 2018, filed 14 Aug 2018.