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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
-4.08%
1 Year Est. Return
-21.64%
3 Year Est. Return
-4.74%
5 Year Est. Return
+9.61%
10 Year Est. Return
–
AUM
$11B
AUM Growth
-$984M
Cap. Flow
-$93.9M
Cap. Flow %
-0.85%
Top 10 Hldgs %
55.92%
Holding
78
New
14
Increased
11
Reduced
15
Closed
18
Avg Time Held Equity + Options
1.5 years
Top 10 Avg Time Held Equity + Options
0.9 years
Top 20 Avg Time Held Equity + Options
1.2 years
Avg Time Held Equity only
1.5 years
Top 10 Avg Time Held Equity only
0.9 years
Top 20 Avg Time Held Equity only
1.2 years

Top Buys

Rank Stock Value
1
AET
Aetna Inc
AET
+$517M
2
CMCSA icon
Comcast
CMCSA
+$451M
3
DIS icon
Walt Disney
DIS
+$441M
4
EQT icon
EQT Corp
EQT
+$189M
5
EXPE icon
Expedia Group
EXPE
+$155M

Top Sells

Rank Stock Value
1
MAR icon
Marriott International
MAR
+$430M
2
PXD icon
Pioneer Natural Resource Co.
PXD
+$351M
3
AMZN icon
Amazon
AMZN
+$292M
4
DD icon
DuPont de Nemours
DD
+$277M
5
BKR icon
Baker Hughes
BKR
+$154M

Sector Composition

Rank Sector Weight
1 Communication Services 35.47%
2 Consumer Discretionary 13.02%
3 Healthcare 12.79%
4 Materials 10.35%
5 Financials 8.8%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
TWX
1
DELISTED
Time Warner Inc
TWX
$1.17B 10.62%
12,405,933
+804,869
+7% +$75.8M
2016 Q1
8 quarters
MON
2
DELISTED
Monsanto Co
MON
$845M 7.65%
7,245,198
+1,267,246
+21% +$152M
2016 Q2
7 quarters
CMCSA icon
3
Comcast
CMCSA
$74.7B
$786M 7.12%
23,016,379
+11,632,655
+102% +$451M
2017 Q4
1 quarter
TEVA icon
4
Teva Pharmaceutical Industries Limited
TEVA
$47.5B
$636M 5.76%
37,216,883
+2,464,556
+7% +$48.1M
2014 Q1
16 quarters
HLT icon
5
Hilton Worldwide
HLT
$73.8B
$511M 4.63%
6,486,891
-1,504,517
-19% -$124M
2016 Q2
7 quarters
HCA icon
6
HCA Healthcare
HCA
$102B
$503M 4.55%
5,184,500
– –
2017 Q1
4 quarters
AET
7
DELISTED
Aetna Inc
AET
$486M 4.4%
+2,875,697
New +$517M
2018 Q1
0 quarters
TFCFA
8
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
$435M 3.94%
11,854,838
– –
2017 Q2
3 quarters
DIS icon
9
Walt Disney
DIS
$188B
$417M 3.77%
+4,148,820
New +$441M
2018 Q1
0 quarters
FDX icon
10
FedEx
FDX
$68.9B
$384M 3.48%
1,599,514
– –
2016 Q4
5 quarters
GOOGL icon
11
Alphabet (Google) Class A
GOOGL
$4.25T
$350M 3.16%
6,740,860
+2,000,000
+42% +$111M
2015 Q3
10 quarters
TV icon
12
Televisa
TV
$1.25B
$305M 2.76%
19,084,757
– –
2013 Q3
18 quarters
MAR icon
13
Marriott International
MAR
$97B
$263M 2.38%
1,935,681
-3,065,292
-61% -$430M
2016 Q1
8 quarters
BEN icon
14
Franklin Templeton
BEN
$15.5B
$246M 2.22%
7,079,702
+44,775
+0.6% +$1.82M
2013 Q2
19 quarters
EXPE icon
15
Expedia Group
EXPE
$33B
$239M 2.16%
2,163,934
+1,334,934
+161% +$155M
2017 Q4
1 quarter
MIK
16
DELISTED
Michaels Stores, Inc
MIK
$232M 2.1%
11,789,977
+932,118
+9% +$22.3M
2014 Q3
14 quarters
AXTA icon
17
Axalta
AXTA
$7.1B
$226M 2.05%
7,498,979
+1,546,695
+26% +$48.3M
2017 Q4
1 quarter
CCEP icon
18
Coca-Cola Europacific Partners
CCEP
$47.1B
$216M 1.96%
5,189,476
+2,571,297
+98% +$101M
2016 Q1
8 quarters
GOOG icon
19
Alphabet (Google) Class C
GOOG
$4.2T
$176M 1.59%
3,401,920
– –
2014 Q2
15 quarters
EQT icon
20
EQT Corp
EQT
$33B
$170M 1.54%
+6,578,624
New +$189M
2018 Q1
0 quarters
IWO icon
21
iShares Russell 2000 Growth ETF
IWO
$13.5B
$160M 1.45%
840,000
– –
2013 Q2
19 quarters
CVE icon
22
Cenovus Energy
CVE
$60.2B
$133M 1.2%
15,576,113
-163,749
-1% -$1.44M
2016 Q3
6 quarters
HDS
23
DELISTED
HD Supply Holdings, Inc.
HDS
$132M 1.19%
3,472,039
-2,470,473
-42% -$93M
2017 Q2
3 quarters
LBTYA icon
24
Liberty Global Class A
LBTYA
$2.79B
$125M 1.13%
3,990,000
– –
2016 Q3
6 quarters
DLTR icon
25
Dollar Tree
DLTR
$22.8B
$122M 1.1%
1,281,149
-630,074
-33% -$66.1M
2017 Q2
3 quarters
1
2 3 4

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Highfields Capital Management's Q1 2018 Portfolio in Review

As of Q1 2018, Highfields Capital Management held 78 positions worth $11B, down 8.2% from $12B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Highfields Capital Management's Q1 2018 filing shows 14 new, 11 increased, 15 reduced and 18 closed positions. Its largest new stake was Aetna Inc: 2,875,697 shares worth $486M. The largest sale was Marriott International, an estimated $430M.

By sector, the portfolio is most concentrated in Communication Services at 35% of assets, up from 25% a quarter earlier, followed by Consumer Discretionary and Healthcare.

  • Highfields Capital Management's largest Q1 2018 buy was Aetna Inc: 2,875,697 shares worth $486M.
  • Highfields Capital Management added most to Comcast in Q1 2018, an estimated $451M increase.
  • Highfields Capital Management's biggest Q1 2018 reduction was Marriott International, cutting an estimated $430M.
  • Highfields Capital Management fully exited Amazon in Q1 2018, selling an estimated $292M.
  • Highfields Capital Management's ten largest holdings make up 56% of its $11B portfolio in Q1 2018.
  • Highfields Capital Management opened 14 new positions and closed 18 in Q1 2018.
  • Highfields Capital Management's portfolio value fell 8.2% quarter-over-quarter to $11B.

Based on Highfields Capital Management's 13F filing for Q1 2018, filed 15 May 2018.