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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
-18.71%
1 Year Est. Return
-21.64%
3 Year Est. Return
-4.74%
5 Year Est. Return
+9.61%
10 Year Est. Return
–
AUM
$2.12B
AUM Growth
-$3.23B
Cap. Flow
-$2.6B
Cap. Flow %
-122.59%
Top 10 Hldgs %
74.19%
Holding
49
New
4
Increased
–
Reduced
14
Closed
25
Avg Time Held Equity + Options
2 years
Top 10 Avg Time Held Equity + Options
0.8 years
Top 20 Avg Time Held Equity + Options
1.2 years
Avg Time Held Equity only
2 years
Top 10 Avg Time Held Equity only
0.8 years
Top 20 Avg Time Held Equity only
1.2 years

Top Buys

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$194M
2
QQQ icon
Invesco QQQ Trust
QQQ
+$149M
3
IWN icon
iShares Russell 2000 Value ETF
IWN
+$32.1M
4
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$10.7M

Top Sells

Rank Stock Value
1
AET
Aetna Inc
AET
+$649M
2
NXPI icon
NXP Semiconductors
NXPI
+$293M
3
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$233M
4
SHPG
Shire pic
SHPG
+$227M
5
EQT icon
EQT Corp
EQT
+$197M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 32.24%
2 Communication Services 29.23%
3 Miscellaneous 17.48%
4 Healthcare 9.58%
5 Technology 7.43%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
HLT icon
1
Hilton Worldwide
HLT
$76.7B
$268M 12.62%
3,731,704
-431,524
-10% -$31.2M
2016 Q2
10 quarters
CHTR icon
2
Charter Communications
CHTR
$12.4B
$191M 8.99%
670,065
– –
2017 Q4
4 quarters
TEVA icon
3
Teva Pharmaceutical Industries Limited
TEVA
$48.4B
$182M 8.57%
11,795,102
-2,266,054
-16% -$46.5M
2014 Q1
19 quarters
TV icon
4
Televisa
TV
$1.3B
$169M 7.95%
13,412,398
-1,009,005
-7% -$14.8M
2013 Q3
21 quarters
AAPL icon
5
Apple
AAPL
$5.01T
$158M 7.43%
+4,000,000
New +$194M
2018 Q4
0 quarters
IWO icon
6
iShares Russell 2000 Growth ETF
IWO
$13.6B
$141M 6.65%
840,000
– –
2013 Q2
22 quarters
CMCSA icon
7
Comcast
CMCSA
$77.2B
$141M 6.64%
4,142,244
-4,192,000
-50% -$153M
2017 Q4
4 quarters
QQQ icon
8
Invesco QQQ Trust
QQQ
$484B
$137M 6.45%
+888,100
New +$149M
2018 Q4
0 quarters
MIK
9
DELISTED
Michaels Stores, Inc
MIK
$98.7M 4.65%
7,291,049
-3,633,382
-33% -$57.7M
2014 Q3
17 quarters
HGV icon
10
Hilton Grand Vacations
HGV
$2.8B
$90.1M 4.24%
3,413,397
-369,162
-10% -$10.7M
2017 Q1
7 quarters
META icon
11
Meta Platforms (Facebook)
META
$1.87T
$85.2M 4.01%
650,000
– –
2018 Q2
2 quarters
MAR icon
12
Marriott International
MAR
$100B
$81.5M 3.84%
751,045
-370,634
-33% -$42.6M
2016 Q1
11 quarters
BEN icon
13
Franklin Templeton
BEN
$15.7B
$71.5M 3.37%
2,410,747
-1,541,324
-39% -$47.4M
2013 Q2
22 quarters
MHK icon
14
Mohawk Industries
MHK
$8.43B
$59M 2.78%
504,647
-90,353
-15% -$12.1M
2018 Q2
2 quarters
TSLA icon
15
PUT
Tesla
TSLA
$1.43T
$54M 2.54%
2,433,000
-1,317,000
-35% -$28.3M
2016 Q1
11 quarters
MGM icon
16
MGM Resorts International
MGM
$7.38B
$53.4M 2.51%
2,200,000
-1,214,000
-36% -$31.7M
2018 Q3
1 quarter
GOOG icon
17
Alphabet (Google) Class C
GOOG
$4.22T
$34.6M 1.63%
668,160
-1,886,280
-74% -$101M
2014 Q2
18 quarters
LEN icon
18
Lennar Class A
LEN
$18.3B
$33.9M 1.6%
895,611
– –
2018 Q2
2 quarters
IWN icon
19
iShares Russell 2000 Value ETF
IWN
$13.8B
$28.7M 1.35%
+267,100
New +$32.1M
2018 Q4
0 quarters
RAD
20
DELISTED
Rite Aid Corporation
RAD
$21.6M 1.02%
1,526,337
– –
2016 Q3
9 quarters
EQT icon
21
EQT Corp
EQT
$32.8B
$12.8M 0.6%
676,049
-9,715,000
-93% -$197M
2018 Q1
3 quarters
SPY icon
22
State Street SPDR S&P 500 ETF Trust
SPY
$813B
$9.92M 0.47%
+39,704
New +$10.7M
2018 Q4
0 quarters
AMR icon
23
DELISTED
Alta Mesa Resources Inc
AMR
$1.53M 0.07%
1,531,894
-5,057,752
-77% -$12.8M
2018 Q1
3 quarters
AMRWW
24
DELISTED
Alta Mesa Resources Inc Warrant
AMRWW
$324K 0.02%
3,833,333
– –
2018 Q1
3 quarters
AXTA icon
25
Axalta
AXTA
$7.25B
– –
-3,877,000
Closed -$113M –
1
2

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Highfields Capital Management's Q4 2018 Portfolio in Review

As of Q4 2018, Highfields Capital Management held 49 positions worth $2.12B, down 60% from $5.35B the previous quarter. Its ten largest holdings account for 74% of the portfolio.

Highfields Capital Management withdrew a net $2.6B in Q4 2018, closing 25 positions and reducing 14 holdings. Its most notable exit was Aetna Inc, an estimated $649M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 32% of assets, up from 21% a quarter earlier, followed by Communication Services and Miscellaneous.

Against the trend, Highfields Capital Management opened a new position in Apple worth $158M.

  • Highfields Capital Management's largest Q4 2018 buy was Apple: 4,000,000 shares worth $158M.
  • Highfields Capital Management's biggest Q4 2018 reduction was EQT Corp, cutting an estimated $197M.
  • Highfields Capital Management fully exited Aetna Inc in Q4 2018, selling an estimated $649M.
  • Highfields Capital Management's ten largest holdings make up 74% of its $2.12B portfolio in Q4 2018.
  • Highfields Capital Management opened 4 new positions and closed 25 in Q4 2018.
  • Highfields Capital Management's portfolio value fell 60% quarter-over-quarter to $2.12B.

Based on Highfields Capital Management's 13F filing for Q4 2018, filed 14 Feb 2019.