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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
+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
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 |
HTZ
Hertz Global Holdings, Inc.
HTZ
|
+$116M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Williams Companies
WMB
|
+$301M |
| 2 |
Teva Pharmaceuticals
TEVA
|
+$280M |
| 3 |
EMC
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 | |
|---|---|---|---|---|---|---|
|
1
Marriott International
MAR
$91.5B
| $735M | 6.89% |
10,923,639
+1,712,333
| +19% | +$121M |
|
|
2
Franklin Templeton
BEN
$17.6B
| $689M | 6.45% |
19,358,084
+3,383,677
| +21% | +$120M |
|
|
3
Hilton Worldwide
HLT
$72.4B
| $647M | 6.06% |
9,404,271
+2,266,813
| +32% | +$160M |
|
4
CALL
McDonald's
MCD
$188B
| $583M | 5.47% |
5,056,000
| – | – |
|
|
DD
5
DELISTED
Du Pont De Nemours E I
DD
| $523M | 4.9% |
7,807,126
-470,979
| -6% | -$32M |
|
6
AbbVie
ABBV
$451B
| $502M | 4.71% |
7,962,839
| – | – |
|
7
Alphabet (Google) Class C
GOOG
$4.19T
| $486M | 4.55% |
12,497,580
| – | – |
|
8
American Tower
AMT
$82.1B
| $380M | 3.56% |
3,352,300
| – | – |
|
|
9
Teva Pharmaceuticals
TEVA
$42.5B
| $376M | 3.53% |
8,180,542
-5,368,983
| -40% | -$280M |
|
|
MON
10
DELISTED
Monsanto Co
MON
| $363M | 3.4% |
3,549,342
+3,049,342
| +610% | +$320M |
|
|
11
Alphabet (Google) Class A
GOOGL
$4.24T
| $333M | 3.12% |
8,278,060
| – | – |
|
|
PPLI
12
People Inc
PPLI
$2.91B
| $277M | 2.6% |
24,820,657
-6,368,519
| -20% | -$67.2M |
|
|
MIK
13
DELISTED
Michaels Stores, Inc
MIK
| $267M | 2.5% |
11,054,973
+791,000
| +8% | +$20.2M |
|
|
14
Williams Companies
WMB
$90.2B
| $264M | 2.47% |
8,585,112
-11,342,329
| -57% | -$301M |
|
|
BEAV
15
DELISTED
B/E Aerospace Inc
BEAV
| $246M | 2.3% |
4,758,200
| – | – |
|
|
WBA
16
DELISTED
Walgreens Boots Alliance
WBA
| $242M | 2.27% |
2,998,699
-2,080,310
| -41% | -$170M |
|
|
PARA
17
DELISTED
Paramount Global Class B
PARA
| $215M | 2.01% |
3,926,373
-1,312,510
| -25% | -$69.6M |
|
18
Suncor Energy
SU
$76.5B
| $194M | 1.81% |
6,967,000
+3,817,000
| +121% | +$104M |
|
19
Intercontinental Exchange
ICE
$91.1B
| $187M | 1.75% |
3,464,350
-350,000
| -9% | -$19.1M |
|
|
APC
20
DELISTED
Anadarko Petroleum
APC
| $172M | 1.61% |
2,719,964
+1,639,376
| +152% | +$91.4M |
|
21
MGM Resorts International
MGM
$10.6B
| $168M | 1.58% |
6,460,306
| – | – |
|
22
CF Industries
CF
$19B
| $156M | 1.46% |
6,403,696
+3,704,550
| +137% | +$90.4M |
|
23
Microsoft
MSFT
$3.81T
| $145M | 1.36% |
2,523,675
-2,927,535
| -54% | -$165M |
|
24
AerCap
AER
$23.2B
| $138M | 1.29% |
3,587,136
| – | – |
|
25
State Street Industrial Select Sector SPDR ETF
XLI
$32.9B
| $133M | 1.25% |
2,277,400
-2,722,600
| -54% | -$158M |
|
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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.