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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
+6.34%
1 Year Est. Return
-21.64%
3 Year Est. Return
-4.74%
5 Year Est. Return
+9.61%
10 Year Est. Return
–
AUM
$12B
AUM Growth
+$420M
(+3.6%)
Cap. Flow
-$564M
Cap. Flow
% of AUM
-4.69%
Top 10 Holdings %
Top 10 Hldgs %
49.21%
Holding
76
New
14
Increased
14
Reduced
21
Closed
12
Avg Time Held Equity + Options
1.3
years
Top 10 Avg Time Held Equity + Options
0.9
years
Top 20 Avg Time Held Equity + Options
1.1
years
Avg Time Held Equity only
1.3
years
Top 10 Avg Time Held Equity only
0.9
years
Top 20 Avg Time Held Equity only
1.1
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
TWX
Time Warner Inc
TWX
|
+$572M |
| 2 |
Comcast
CMCSA
|
+$428M |
| 3 |
Amazon
AMZN
|
+$275M |
| 4 |
Axalta
AXTA
|
+$189M |
| 5 |
Teva Pharmaceutical Industries Limited
TEVA
|
+$138M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
FedEx
FDX
|
+$501M |
| 2 |
Target
TGT
|
+$346M |
| 3 |
Marriott International
MAR
|
+$328M |
| 4 |
Franklin Templeton
BEN
|
+$180M |
| 5 |
HDS
HD Supply Holdings, Inc.
HDS
|
+$172M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 25.17% |
| 2 | Consumer Discretionary | 20.16% |
| 3 | Healthcare | 12.06% |
| 4 | Materials | 9.71% |
| 5 | Energy | 7.28% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
TWX
1
DELISTED
Time Warner Inc
TWX
| $1.06B | 8.82% |
11,601,064
+6,049,499
| +109% | +$572M |
2016 Q1
7 quarters
|
|
|
MON
2
DELISTED
Monsanto Co
MON
| $698M | 5.8% |
5,977,952
+693,537
| +13% | +$82.5M |
2016 Q2
6 quarters
|
|
|
3
Marriott International
MAR
$97B
| $679M | 5.64% |
5,000,973
-2,667,964
| -35% | -$328M |
2016 Q1
7 quarters
|
|
|
4
Teva Pharmaceutical Industries Limited
TEVA
$47.5B
| $659M | 5.47% |
34,752,327
+9,171,368
| +36% | +$138M |
2014 Q1
15 quarters
|
|
5
Hilton Worldwide
HLT
$73.8B
| $638M | 5.3% |
7,991,408
-591,359
| -7% | -$43.9M |
2016 Q2
6 quarters
|
|
6
DELISTED
Pioneer Natural Resource Co.
PXD
| $466M | 3.87% |
2,694,479
-90,000
| -3% | -$13.9M |
2017 Q3
1 quarter
|
|
|
7
Comcast
CMCSA
$74.7B
| $456M | 3.79% |
+11,383,724
| New | +$428M |
2017 Q4
0 quarters
|
|
8
HCA Healthcare
HCA
$102B
| $455M | 3.79% |
5,184,500
+1,295,091
| +33% | +$104M |
2017 Q1
3 quarters
|
|
|
TFCFA
9
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $409M | 3.4% |
11,854,838
-1,897,505
| -14% | -$56.6M |
2017 Q2
2 quarters
|
|
|
10
FedEx
FDX
$68.9B
| $399M | 3.32% |
1,599,514
-2,191,863
| -58% | -$501M |
2016 Q4
4 quarters
|
|
11
PUT
Walmart Inc
WMT
$922B
| $395M | 3.28% |
+12,000,000
| New | +$367M |
2017 Q4
0 quarters
|
|
12
Televisa
TV
$1.25B
| $356M | 2.96% |
19,084,757
+764,090
| +4% | +$15.8M |
2013 Q3
17 quarters
|
|
|
13
Franklin Templeton
BEN
$15.5B
| $305M | 2.53% |
7,034,927
-4,156,234
| -37% | -$180M |
2013 Q2
18 quarters
|
|
|
14
Amazon
AMZN
$2.74T
| $292M | 2.43% |
+5,000,000
| New | +$275M |
2017 Q4
0 quarters
|
|
15
DuPont de Nemours
DD
$17.4B
| $277M | 2.3% |
1,536,181
-297,476
| -16% | -$53.6M |
2017 Q1
3 quarters
|
|
|
MIK
16
DELISTED
Michaels Stores, Inc
MIK
| $263M | 2.18% |
10,857,859
-5,430,445
| -33% | -$112M |
2014 Q3
13 quarters
|
|
17
Alphabet (Google) Class A
GOOGL
$4.25T
| $250M | 2.08% |
4,740,860
| – | – |
2015 Q3
9 quarters
|
|
|
HDS
18
DELISTED
HD Supply Holdings, Inc.
HDS
| $238M | 1.98% |
5,942,512
-4,695,052
| -44% | -$172M |
2017 Q2
2 quarters
|
|
19
Invesco
IVZ
$12.3B
| $210M | 1.74% |
5,733,492
-2,533,278
| -31% | -$91.7M |
2016 Q4
4 quarters
|
|
20
Dollar Tree
DLTR
$22.8B
| $205M | 1.7% |
1,911,223
-430,000
| -18% | -$42M |
2017 Q2
2 quarters
|
|
|
21
Axalta
AXTA
$7.1B
| $193M | 1.6% |
+5,952,284
| New | +$189M |
2017 Q4
0 quarters
|
|
22
Hyatt Hotels
H
$15.1B
| $187M | 1.55% |
2,542,567
+10,000
| +0.4% | +$676K |
2017 Q1
3 quarters
|
|
23
Alphabet (Google) Class C
GOOG
$4.2T
| $178M | 1.48% |
3,401,920
-848,900
| -20% | -$43.2M |
2014 Q2
14 quarters
|
|
24
iShares Russell 2000 Growth ETF
IWO
$13.5B
| $157M | 1.3% |
840,000
| – | – |
2013 Q2
18 quarters
|
|
25
Baker Hughes
BKR
$55B
| $154M | 1.28% |
4,868,118
-5,241,889
| -52% | -$168M |
2017 Q3
1 quarter
|
|
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Highfields Capital Management's Q4 2017 Portfolio in Review
As of Q4 2017, Highfields Capital Management held 76 positions worth $12B, up 3.6% from $11.6B the previous quarter. Its ten largest holdings account for 49% of the portfolio.
Highfields Capital Management withdrew a net $564M in Q4 2017, closing 12 positions and reducing 21 holdings. Its most notable exit was Target, an estimated $346M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 25% of assets, up from 18% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, Highfields Capital Management opened a new position in Comcast worth $456M.
- Highfields Capital Management's largest Q4 2017 buy was Comcast: 11,383,724 shares worth $456M.
- Highfields Capital Management added most to Time Warner Inc in Q4 2017, an estimated $572M increase.
- Highfields Capital Management's biggest Q4 2017 reduction was FedEx, cutting an estimated $501M.
- Highfields Capital Management fully exited Target in Q4 2017, selling an estimated $346M.
- Highfields Capital Management's ten largest holdings make up 49% of its $12B portfolio in Q4 2017.
- Highfields Capital Management opened 14 new positions and closed 12 in Q4 2017.
- Highfields Capital Management's portfolio value rose 3.6% quarter-over-quarter to $12B.
Based on Highfields Capital Management's 13F filing for Q4 2017, filed 14 Feb 2018.