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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
-0.69%
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
-$895M
(-7.7%)
Cap. Flow
-$1.18B
Cap. Flow
% of AUM
-11%
Top 10 Holdings %
Top 10 Hldgs %
45.79%
Holding
94
New
17
Increased
24
Reduced
14
Closed
21
Avg Time Held Equity + Options
1
year
Top 10 Avg Time Held Equity + Options
0.7
years
Top 20 Avg Time Held Equity + Options
0.8
years
Avg Time Held Equity only
1.1
years
Top 10 Avg Time Held Equity only
0.7
years
Top 20 Avg Time Held Equity only
0.8
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Marriott International
MAR
|
+$449M |
| 2 |
Walgreens Boots Alliance
WBA
|
+$223M |
| 3 |
Williams Companies
WMB
|
+$207M |
| 4 |
PepsiCo
PEP
|
+$200M |
| 5 |
Pfizer
PFE
|
+$177M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
McDonald's
MCD
|
+$854M |
| 2 |
Microsoft
MSFT
|
+$710M |
| 3 |
MHFI
MCGRAW-HILL FINANCIAL INC COM
MHFI
|
+$275M |
| 4 |
Perrigo
PRGO
|
+$242M |
| 5 |
YHOO
Yahoo Inc
YHOO
|
+$239M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 20.77% |
| 2 | Consumer Discretionary | 17.19% |
| 3 | Healthcare | 15.89% |
| 4 | Miscellaneous | 9.23% |
| 5 | Financials | 9.12% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
McDonald's
MCD
$169B
| $598M | 5.58% |
4,756,186
-7,144,360
| -60% | -$854M |
2014 Q2
7 quarters
|
|
2
PUT
Walt Disney
DIS
$188B
| $592M | 5.53% |
5,960,400
+3,000,000
| +101% | +$290M |
2015 Q4
1 quarter
|
|
3
DELISTED
Du Pont De Nemours E I
DD
| $552M | 5.15% |
8,721,647
-3,898,609
| -31% | -$233M |
2015 Q1
4 quarters
|
|
4
Teva Pharmaceutical Industries Limited
TEVA
$47.5B
| $513M | 4.79% |
9,591,150
+1,098,246
| +13% | +$64.4M |
2014 Q1
8 quarters
|
|
|
5
Marriott International
MAR
$97B
| $488M | 4.56% |
+6,859,386
| New | +$449M |
2016 Q1
0 quarters
|
|
6
DELISTED
Paramount Global Class B
PARA
| $457M | 4.27% |
8,297,063
-2,588,756
| -24% | -$126M |
2014 Q2
7 quarters
|
|
7
AbbVie
ABBV
$501B
| $455M | 4.25% |
7,962,839
+2,054,339
| +35% | +$115M |
2015 Q3
2 quarters
|
|
8
Alphabet (Google) Class C
GOOG
$4.2T
| $445M | 4.15% |
11,944,360
+4,685,240
| +65% | +$168M |
2014 Q2
7 quarters
|
|
9
Franklin Templeton
BEN
$15.5B
| $431M | 4.03% |
11,046,895
+212,927
| +2% | +$7.53M |
2013 Q2
11 quarters
|
|
|
TWC
10
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $374M | 3.49% |
1,827,467
+16,476
| +0.9% | +$3.12M |
2013 Q2
11 quarters
|
|
|
11
DELISTED
Walgreens Boots Alliance
WBA
| $374M | 3.49% |
4,434,362
+2,792,350
| +170% | +$223M |
2014 Q2
7 quarters
|
|
12
American Tower
AMT
$83.6B
| $343M | 3.2% |
3,352,300
+30,300
| +0.9% | +$2.83M |
2015 Q3
2 quarters
|
|
13
Alphabet (Google) Class A
GOOGL
$4.25T
| $342M | 3.19% |
8,971,280
+3,285,280
| +58% | +$121M |
2015 Q3
2 quarters
|
|
14
Intercontinental Exchange
ICE
$87.1B
| $322M | 3.01% |
6,850,850
-3,895,260
| -36% | -$189M |
2013 Q2
11 quarters
|
|
|
15
Williams Companies
WMB
$89B
| $304M | 2.84% |
18,916,361
+12,043,361
| +175% | +$207M |
2015 Q3
2 quarters
|
|
|
MIK
16
DELISTED
Michaels Stores, Inc
MIK
| $287M | 2.68% |
10,266,338
+1,313,907
| +15% | +$30.4M |
2014 Q3
6 quarters
|
|
17
TripAdvisor
TRIP
$1.05B
| $270M | 2.52% |
4,062,392
+852,812
| +27% | +$56.5M |
2015 Q3
2 quarters
|
|
18
DELISTED
EMC CORPORATION
EMC
| $263M | 2.46% |
9,880,334
+1,694,466
| +21% | +$42.9M |
2015 Q2
3 quarters
|
|
19
People Inc
PPLI
$3.02B
| $241M | 2.25% |
28,631,583
+14,324,244
| +100% | +$123M |
2015 Q2
3 quarters
|
|
|
BEAV
20
DELISTED
B/E Aerospace Inc
BEAV
| $219M | 2.05% |
4,758,200
+44,200
| +0.9% | +$1.89M |
2015 Q3
2 quarters
|
|
|
21
PepsiCo
PEP
$176B
| $207M | 1.93% |
+2,019,700
| New | +$200M |
2016 Q1
0 quarters
|
|
|
HOT
22
DELISTED
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
| $191M | 1.78% |
2,286,346
-2,198,674
| -49% | -$150M |
2014 Q2
7 quarters
|
|
|
23
Pfizer
PFE
$166B
| $174M | 1.62% |
+6,179,208
| New | +$177M |
2016 Q1
0 quarters
|
|
|
24
Walt Disney
DIS
$188B
| $162M | 1.52% |
+1,635,000
| New | +$158M |
2016 Q1
0 quarters
|
|
|
BXLT
25
DELISTED
BAXALTA INC COM STK (DE)
BXLT
| $156M | 1.45% |
+3,850,000
| New | +$152M |
2016 Q1
0 quarters
|
|
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Highfields Capital Management's Q1 2016 Portfolio in Review
As of Q1 2016, Highfields Capital Management held 94 positions worth $10.7B, down 7.7% from $11.6B the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Highfields Capital Management withdrew a net $1.18B in Q1 2016, closing 21 positions and reducing 14 holdings. Its most notable exit was Microsoft, an estimated $710M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 21% of assets, up from 14% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, Highfields Capital Management opened a new position in Marriott International worth $488M.
- Highfields Capital Management's largest Q1 2016 buy was Marriott International: 6,859,386 shares worth $488M.
- Highfields Capital Management added most to Walgreens Boots Alliance in Q1 2016, an estimated $223M increase.
- Highfields Capital Management's biggest Q1 2016 reduction was McDonald's, cutting an estimated $854M.
- Highfields Capital Management fully exited Microsoft in Q1 2016, selling an estimated $710M.
- Highfields Capital Management's ten largest holdings make up 46% of its $10.7B portfolio in Q1 2016.
- Highfields Capital Management opened 17 new positions and closed 21 in Q1 2016.
- Highfields Capital Management's portfolio value fell 7.7% quarter-over-quarter to $10.7B.
Based on Highfields Capital Management's 13F filing for Q1 2016, filed 16 May 2016.