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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
+4.8%
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
(-7%)
Cap. Flow
-$907M
Cap. Flow
% of AUM
-8.5%
Top 10 Holdings %
Top 10 Hldgs %
49.51%
Holding
88
New
14
Increased
8
Reduced
21
Closed
15
Avg Time Held Equity + Options
1.1
years
Top 10 Avg Time Held Equity + Options
0.7
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
0.8
years
Top 20 Avg Time Held Equity only
1
year
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
MON
Monsanto Co
MON
|
+$320M |
| 2 |
Hilton Worldwide
HLT
|
+$160M |
| 3 |
Marriott International
MAR
|
+$121M |
| 4 |
Franklin Templeton
BEN
|
+$120M |
| 5 |
Hertz Global Holdings, Inc.
HTZ
|
+$116M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Williams Companies
WMB
|
+$301M |
| 2 |
Teva Pharmaceutical Industries Limited
TEVA
|
+$280M |
| 3 |
EMC CORPORATION
EMC
|
+$193M |
| 4 |
HOT
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
|
+$184M |
| 5 |
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 | Held Since | |
|---|---|---|---|---|---|---|---|
76
Goldman Sachs
GS
$258B
| – | – |
-62,500
| Closed | -$9.29M | – |
|
77
PepsiCo
PEP
$177B
| – | – |
-1,250,000
| Closed | -$132M | – |
|
78
CALL
United Airlines
UAL
$32.6B
| – | – |
-300,000
| Closed | -$12.3M | – |
|
79
PUT
ExxonMobil
XOM
$719B
| – | – |
-2,000,000
| Closed | -$187M | – |
|
80
DELISTED
Southwestern Energy Company
SWN
| – | – |
-700,000
| Closed | -$8.81M | – |
|
|
RDS.B
81
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
| – | – |
-700,000
| Closed | -$39.2M | – |
|
|
MON
82
CALL
DELISTED
Monsanto Co
MON
| – | – |
-125,000
| Closed | -$12.9M | – |
|
|
83
DELISTED
EMC CORPORATION
EMC
| – | – |
-7,100,994
| Closed | -$193M | – |
|
|
CPGX
84
DELISTED
COLUMBIA PIPELINE GROUP IN COM STK (DE)
CPGX
| – | – |
-500,000
| Closed | -$12.7M | – |
|
|
HOT
85
DELISTED
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
| – | – |
-2,486,946
| Closed | -$184M | – |
|
|
GG
86
DELISTED
Goldcorp Inc
GG
| – | – |
-1,250,000
| Closed | -$23.9M | – |
|
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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.