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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
+1.7%
1 Year Est. Return
-21.64%
3 Year Est. Return
-4.74%
5 Year Est. Return
+9.61%
10 Year Est. Return
–
AUM
$13.5B
AUM Growth
+$2.72B
(+25%)
Cap. Flow
+$1.83B
Cap. Flow
% of AUM
13.55%
Top 10 Holdings %
Top 10 Hldgs %
50.49%
Holding
83
New
16
Increased
21
Reduced
12
Closed
12
Avg Time Held Equity + Options
1.1
years
Top 10 Avg Time Held Equity + Options
1.1
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
1.2
years
Top 20 Avg Time Held Equity only
1
year
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Invesco QQQ Trust
QQQ
|
+$966M |
| 2 |
HDS
HD Supply Holdings, Inc.
HDS
|
+$358M |
| 3 |
BHI
Baker Hughes
BHI
|
+$349M |
| 4 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$224M |
| 5 |
TWX
Time Warner Inc
TWX
|
+$200M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
American Tower
AMT
|
+$408M |
| 2 |
BEAV
B/E Aerospace Inc
BEAV
|
+$305M |
| 3 |
Coca-Cola Europacific Partners
CCEP
|
+$140M |
| 4 |
YHOO
Yahoo Inc
YHOO
|
+$139M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$131M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 17.52% |
| 2 | Consumer Discretionary | 15.36% |
| 3 | Communication Services | 14.23% |
| 4 | Financials | 12.36% |
| 5 | Healthcare | 9.71% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Franklin Templeton
BEN
$15.5B
| $983M | 7.28% |
21,950,818
-180,758
| -0.8% | -$7.72M |
2013 Q2
16 quarters
|
|
|
2
Invesco QQQ Trust
QQQ
$488B
| $967M | 7.16% |
+7,025,000
| New | +$966M |
2017 Q2
0 quarters
|
|
3
Marriott International
MAR
$97B
| $842M | 6.24% |
8,394,764
-263,031
| -3% | -$26.3M |
2016 Q1
5 quarters
|
|
4
Teva Pharmaceutical Industries Limited
TEVA
$47.5B
| $710M | 5.26% |
21,375,914
+3,657,564
| +21% | +$113M |
2014 Q1
13 quarters
|
|
5
FedEx
FDX
$68.9B
| $659M | 4.88% |
3,032,977
+214,902
| +8% | +$42.4M |
2016 Q4
2 quarters
|
|
|
MON
6
DELISTED
Monsanto Co
MON
| $605M | 4.48% |
5,113,138
+434,413
| +9% | +$50.7M |
2016 Q2
4 quarters
|
|
7
Hilton Worldwide
HLT
$73.8B
| $575M | 4.26% |
9,290,148
-135,000
| -1% | -$8.4M |
2016 Q2
4 quarters
|
|
|
TWX
8
DELISTED
Time Warner Inc
TWX
| $557M | 4.13% |
5,551,565
+2,022,241
| +57% | +$200M |
2016 Q1
5 quarters
|
|
|
9
PUT
Invesco QQQ Trust
QQQ
$488B
| $523M | 3.87% |
+3,800,000
| New | +$523M |
2017 Q2
0 quarters
|
|
10
DELISTED
Du Pont De Nemours E I
DD
| $396M | 2.93% |
4,910,364
| – | – |
2015 Q1
9 quarters
|
|
11
Televisa
TV
$1.25B
| $363M | 2.69% |
14,877,758
+6,035,558
| +68% | +$150M |
2013 Q3
15 quarters
|
|
12
Target
TGT
$70.6B
| $332M | 2.46% |
6,351,195
+1,299,497
| +26% | +$71M |
2017 Q1
1 quarter
|
|
|
BHI
13
DELISTED
Baker Hughes
BHI
| $331M | 2.45% |
+6,064,569
| New | +$349M |
2017 Q2
0 quarters
|
|
|
14
American Tower
AMT
$83.6B
| $329M | 2.44% |
2,485,236
-3,187,007
| -56% | -$408M |
2015 Q3
7 quarters
|
|
|
MIK
15
DELISTED
Michaels Stores, Inc
MIK
| $328M | 2.43% |
17,712,034
+3,545,106
| +25% | +$73.8M |
2014 Q3
11 quarters
|
|
|
HDS
16
DELISTED
HD Supply Holdings, Inc.
HDS
| $290M | 2.15% |
+9,481,273
| New | +$358M |
2017 Q2
0 quarters
|
|
17
Invesco
IVZ
$12.3B
| $290M | 2.15% |
8,241,230
| – | – |
2016 Q4
2 quarters
|
|
|
TFCFA
18
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $221M | 1.63% |
+7,784,800
| New | +$224M |
2017 Q2
0 quarters
|
|
19
Alphabet (Google) Class A
GOOGL
$4.25T
| $220M | 1.63% |
4,740,860
-1,517,660
| -24% | -$71M |
2015 Q3
7 quarters
|
|
20
HCA Healthcare
HCA
$102B
| $207M | 1.53% |
2,373,443
+506,413
| +27% | +$42.8M |
2017 Q1
1 quarter
|
|
21
State Street Industrial Select Sector SPDR ETF
XLI
$30.5B
| $184M | 1.36% |
2,700,000
| – | – |
2016 Q2
4 quarters
|
|
|
EGN
22
DELISTED
Energen
EGN
| $181M | 1.34% |
3,668,996
+868,996
| +31% | +$46.4M |
2017 Q1
1 quarter
|
|
23
Intercontinental Exchange
ICE
$87.1B
| $173M | 1.28% |
2,626,115
-386,000
| -13% | -$23.7M |
2013 Q2
16 quarters
|
|
24
Verizon
VZ
$185B
| $171M | 1.27% |
3,837,000
+766,477
| +25% | +$35.7M |
2017 Q1
1 quarter
|
|
25
Cenovus Energy
CVE
$60.2B
| $159M | 1.18% |
21,625,000
+4,583,334
| +27% | +$42.5M |
2016 Q3
3 quarters
|
|
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Highfields Capital Management's Q2 2017 Portfolio in Review
As of Q2 2017, Highfields Capital Management held 83 positions worth $13.5B, up 25% from $10.8B the previous quarter. Its ten largest holdings account for 50% of the portfolio.
Highfields Capital Management deployed $1.83B of net new capital in Q2 2017, opening 16 new positions and adding to 21 existing holdings. Its largest new stake was Invesco QQQ Trust: 7,025,000 shares worth $967M.
By sector, the portfolio is most concentrated in Miscellaneous at 18% of assets, up from 7.2% a quarter earlier, followed by Consumer Discretionary and Communication Services.
On the sell side, the largest reduction was American Tower, an estimated $408M trimmed.
- Highfields Capital Management's largest Q2 2017 buy was Invesco QQQ Trust: 7,025,000 shares worth $967M.
- Highfields Capital Management added most to Time Warner Inc in Q2 2017, an estimated $200M increase.
- Highfields Capital Management's biggest Q2 2017 reduction was American Tower, cutting an estimated $408M.
- Highfields Capital Management fully exited B/E Aerospace Inc in Q2 2017, selling an estimated $305M.
- Highfields Capital Management's ten largest holdings make up 50% of its $13.5B portfolio in Q2 2017.
- Highfields Capital Management opened 16 new positions and closed 12 in Q2 2017.
- Highfields Capital Management's portfolio value rose 25% quarter-over-quarter to $13.5B.
Based on Highfields Capital Management's 13F filing for Q2 2017, filed 14 Aug 2017.