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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
+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
Cap. Flow
-$564M
Cap. Flow %
-4.69%
Top 10 Hldgs %
49.21%
Holding
76
New
14
Increased
14
Reduced
21
Closed
12

Top Buys

Rank Stock Value
1
TWX
Time Warner Inc
TWX
+$572M
2
CMCSA icon
Comcast
CMCSA
+$428M
3
AMZN icon
Amazon
AMZN
+$275M
4
AXTA icon
Axalta
AXTA
+$189M
5
TEVA icon
Teva Pharmaceuticals
TEVA
+$138M

Top Sells

Rank Stock Value
1
FDX icon
FedEx
FDX
+$501M
2
TGT icon
Target
TGT
+$346M
3
MAR icon
Marriott International
MAR
+$328M
4
BEN icon
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
TWX
1
DELISTED
Time Warner Inc
TWX
$1.06B 8.82%
11,601,064
+6,049,499
+109% +$572M
MON
2
DELISTED
Monsanto Co
MON
$698M 5.8%
5,977,952
+693,537
+13% +$82.5M
MAR icon
3
Marriott International
MAR
$91.5B
$679M 5.64%
5,000,973
-2,667,964
-35% -$328M
TEVA icon
4
Teva Pharmaceuticals
TEVA
$42.5B
$659M 5.47%
34,752,327
+9,171,368
+36% +$138M
HLT icon
5
Hilton Worldwide
HLT
$72.4B
$638M 5.3%
7,991,408
-591,359
-7% -$43.9M
PXD
6
DELISTED
Pioneer Natural Resource Co.
PXD
$466M 3.87%
2,694,479
-90,000
-3% -$13.9M
CMCSA icon
7
Comcast
CMCSA
$96B
$456M 3.79%
+11,383,724
New +$428M
HCA icon
8
HCA Healthcare
HCA
$90.5B
$455M 3.79%
5,184,500
+1,295,091
+33% +$104M
TFCFA
9
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
$409M 3.4%
11,854,838
-1,897,505
-14% -$56.6M
FDX icon
10
FedEx
FDX
$78.3B
$399M 3.32%
1,599,514
-2,191,863
-58% -$501M
WMT icon
11
PUT
Walmart Inc
WMT
$820B
$395M 3.28%
+12,000,000
New +$367M
TV icon
12
Televisa
TV
$1.45B
$356M 2.96%
19,084,757
+764,090
+4% +$15.8M
BEN icon
13
Franklin Templeton
BEN
$17.6B
$305M 2.53%
7,034,927
-4,156,234
-37% -$180M
AMZN icon
14
Amazon
AMZN
$2.87T
$292M 2.43%
+5,000,000
New +$275M
DD icon
15
DuPont de Nemours
DD
$18.5B
$277M 2.3%
1,536,181
-297,476
-16% -$53.6M
MIK
16
DELISTED
Michaels Stores, Inc
MIK
$263M 2.18%
10,857,859
-5,430,445
-33% -$112M
GOOGL icon
17
Alphabet (Google) Class A
GOOGL
$4.24T
$250M 2.08%
4,740,860
– –
HDS
18
DELISTED
HD Supply Holdings, Inc.
HDS
$238M 1.98%
5,942,512
-4,695,052
-44% -$172M
IVZ icon
19
Invesco
IVZ
$14.5B
$210M 1.74%
5,733,492
-2,533,278
-31% -$91.7M
DLTR icon
20
Dollar Tree
DLTR
$24.1B
$205M 1.7%
1,911,223
-430,000
-18% -$42M
AXTA icon
21
Axalta
AXTA
$7.92B
$193M 1.6%
+5,952,284
New +$189M
H icon
22
Hyatt Hotels
H
$16.2B
$187M 1.55%
2,542,567
+10,000
+0.4% +$676K
GOOG icon
23
Alphabet (Google) Class C
GOOG
$4.19T
$178M 1.48%
3,401,920
-848,900
-20% -$43.2M
IWO icon
24
iShares Russell 2000 Growth ETF
IWO
$14.8B
$157M 1.3%
840,000
– –
BKR icon
25
Baker Hughes
BKR
$62B
$154M 1.28%
4,868,118
-5,241,889
-52% -$168M
1
2 3

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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.