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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
+2.86%
1 Year Est. Return
-21.64%
3 Year Est. Return
-4.74%
5 Year Est. Return
+9.61%
10 Year Est. Return
–
AUM
$11.6B
AUM Growth
-$1.89B
Cap. Flow
-$1.51B
Cap. Flow %
-13.02%
Top 10 Hldgs %
49.04%
Holding
80
New
9
Increased
19
Reduced
15
Closed
18

Top Buys

Rank Stock Value
1
PXD
Pioneer Natural Resource Co.
PXD
+$400M
2
BKR icon
Baker Hughes
BKR
+$359M
3
DD icon
DuPont de Nemours
DD
+$273M
4
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
+$164M
5
FDX icon
FedEx
FDX
+$161M

Top Sells

Rank Stock Value
1
QQQ icon
Invesco QQQ Trust
QQQ
+$967M
2
BEN icon
Franklin Templeton
BEN
+$472M
3
DD
Du Pont De Nemours E I
DD
+$396M
4
BHI
Baker Hughes
BHI
+$331M
5
AMT icon
American Tower
AMT
+$254M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 18.48%
2 Communication Services 17.99%
3 Industrials 11.22%
4 Energy 9.58%
5 Financials 9.57%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FDX icon
1
FedEx
FDX
$78.3B
$855M 7.37%
3,791,377
+758,400
+25% +$161M
MAR icon
2
Marriott International
MAR
$91.5B
$846M 7.28%
7,668,937
-725,827
-9% -$74.8M
MON
3
DELISTED
Monsanto Co
MON
$633M 5.45%
5,284,415
+171,277
+3% +$20.2M
HLT icon
4
Hilton Worldwide
HLT
$72.4B
$596M 5.13%
8,582,767
-707,381
-8% -$45.1M
TWX
5
DELISTED
Time Warner Inc
TWX
$569M 4.9%
5,551,565
– –
BEN icon
6
Franklin Templeton
BEN
$17.6B
$498M 4.29%
11,191,161
-10,759,657
-49% -$472M
TV icon
7
Televisa
TV
$1.45B
$452M 3.89%
18,320,667
+3,442,909
+23% +$88.5M
TEVA icon
8
Teva Pharmaceuticals
TEVA
$42.5B
$450M 3.88%
25,580,959
+4,205,045
+20% +$94.6M
PXD
9
DELISTED
Pioneer Natural Resource Co.
PXD
$411M 3.54%
+2,784,479
New +$400M
HDS
10
DELISTED
HD Supply Holdings, Inc.
HDS
$384M 3.3%
10,637,564
+1,156,291
+12% +$37.2M
BKR icon
11
Baker Hughes
BKR
$62B
$370M 3.19%
+10,110,007
New +$359M
TFCFA
12
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
$363M 3.12%
13,752,343
+5,967,543
+77% +$164M
MIK
13
DELISTED
Michaels Stores, Inc
MIK
$350M 3.01%
16,288,304
-1,423,730
-8% -$29M
TGT icon
14
Target
TGT
$74.1B
$346M 2.98%
5,862,327
-488,868
-8% -$27.4M
DD icon
15
DuPont de Nemours
DD
$18.5B
$321M 2.77%
1,833,657
+1,636,216
+829% +$273M
HCA icon
16
HCA Healthcare
HCA
$90.5B
$310M 2.67%
3,889,409
+1,515,966
+64% +$122M
IVZ icon
17
Invesco
IVZ
$14.5B
$290M 2.49%
8,266,770
+25,540
+0.3% +$872K
GOOGL icon
18
Alphabet (Google) Class A
GOOGL
$4.24T
$231M 1.99%
4,740,860
– –
CVE icon
19
Cenovus Energy
CVE
$58.2B
$216M 1.86%
21,625,000
– –
GOOG icon
20
Alphabet (Google) Class C
GOOG
$4.19T
$204M 1.76%
4,250,820
+1,094,560
+35% +$51M
DLTR icon
21
Dollar Tree
DLTR
$24.1B
$203M 1.75%
2,341,223
+1,341,223
+134% +$102M
H icon
22
Hyatt Hotels
H
$16.2B
$156M 1.35%
2,532,567
+1,087,067
+75% +$62.8M
KO icon
23
Coca-Cola
KO
$386B
$152M 1.31%
3,367,037
+867,037
+35% +$39.4M
IWO icon
24
iShares Russell 2000 Growth ETF
IWO
$14.8B
$150M 1.29%
840,000
– –
VER
25
DELISTED
VEREIT, Inc.
VER
$147M 1.26%
3,541,000
+240,000
+7% +$10.1M
1
2 3 4

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HCS
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Highfields Capital Management's Q3 2017 Portfolio in Review

As of Q3 2017, Highfields Capital Management held 80 positions worth $11.6B, down 14% from $13.5B the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Highfields Capital Management withdrew a net $1.51B in Q3 2017, closing 18 positions and reducing 15 holdings. Its most notable exit was Invesco QQQ Trust, an estimated $967M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 18% of assets, up from 15% a quarter earlier, followed by Communication Services and Industrials.

Against the trend, Highfields Capital Management opened a new position in Pioneer Natural Resource Co. worth $411M.

  • Highfields Capital Management's largest Q3 2017 buy was Pioneer Natural Resource Co.: 2,784,479 shares worth $411M.
  • Highfields Capital Management added most to DuPont de Nemours in Q3 2017, an estimated $273M increase.
  • Highfields Capital Management's biggest Q3 2017 reduction was Franklin Templeton, cutting an estimated $472M.
  • Highfields Capital Management fully exited Invesco QQQ Trust in Q3 2017, selling an estimated $967M.
  • Highfields Capital Management's ten largest holdings make up 49% of its $11.6B portfolio in Q3 2017.
  • Highfields Capital Management opened 9 new positions and closed 18 in Q3 2017.
  • Highfields Capital Management's portfolio value fell 14% quarter-over-quarter to $11.6B.

Based on Highfields Capital Management's 13F filing for Q3 2017, filed 14 Nov 2017.