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HCM
Highline Capital Management Portfolio holdings
AUM
$53.5M
1-Year Est. Return
21.72%
This Fund
S&P 500
This Quarter
Est. Return
+7.17%
1 Year Est. Return
-21.72%
3 Year Est. Return
+197.64%
5 Year Est. Return
+251.63%
10 Year Est. Return
–
AUM
$3.02B
AUM Growth
-$504M
(-14%)
Cap. Flow
-$731M
Cap. Flow
% of AUM
-24.2%
Top 10 Holdings %
Top 10 Hldgs %
50.82%
Holding
46
New
8
Increased
8
Reduced
15
Closed
14
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ArcelorMittal
MT
|
+$125M |
| 2 |
CZR
Caesars Entertainment Corporation
CZR
|
+$118M |
| 3 |
CDK
CDK Global, Inc.
CDK
|
+$97.7M |
| 4 |
Halliburton
HAL
|
+$90M |
| 5 |
Philip Morris
PM
|
+$84.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Crown Castle
CCI
|
+$149M |
| 2 |
Marriott International
MAR
|
+$101M |
| 3 |
Brunswick
BC
|
+$90.1M |
| 4 |
Hilton Grand Vacations
HGV
|
+$88.4M |
| 5 |
MGM Resorts International
MGM
|
+$86.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 21.57% |
| 2 | Communication Services | 18.44% |
| 3 | Financials | 11% |
| 4 | Industrials | 9.01% |
| 5 | Healthcare | 8.58% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Intercontinental Exchange
ICE
$82.4B
| $204M | 6.76% |
2,896,000
+415,000
| +17% | +$28.5M |
|
2
IQVIA
IQV
$34.7B
| $187M | 6.2% |
1,914,568
-187,300
| -9% | -$19.1M |
|
3
Liberty Global Class C
LBTYK
$3.27B
| $181M | 5.99% |
5,350,500
-145,100
| -3% | -$4.46M |
|
4
Conduent
CNDT
$230M
| $163M | 5.39% |
10,070,000
-220,425
| -2% | -$3.45M |
|
|
ZAYO
5
DELISTED
Zayo Group Holdings, Inc.
ZAYO
| $141M | 4.68% |
3,839,900
+764,900
| +25% | +$27.1M |
|
|
6
ArcelorMittal
MT
$50.4B
| $137M | 4.53% |
+4,234,300
| New | +$125M |
|
7
Boyd Gaming
BYD
$6.47B
| $136M | 4.5% |
3,881,600
-378,600
| -9% | -$11.5M |
|
8
Amazon
AMZN
$2.5T
| $133M | 4.41% |
2,280,000
+322,000
| +16% | +$17.7M |
|
9
Willis Towers Watson
WTW
$27.9B
| $128M | 4.23% |
849,100
-335,900
| -28% | -$53.1M |
|
10
Alphabet (Google) Class C
GOOG
$3.9T
| $125M | 4.13% |
2,384,400
-53,400
| -2% | -$2.72M |
|
|
CZR
11
DELISTED
Caesars Entertainment Corporation
CZR
| $120M | 3.98% |
9,507,484
+9,277,484
| +4,034% | +$118M |
|
12
Liberty Media Series C
FWONK
$24.3B
| $117M | 3.88% |
3,548,439
-195,997
| -5% | -$7.08M |
|
13
Caesars Entertainment
CZR
$6.1B
| $111M | 3.67% |
3,346,878
+1,178
| +0% | +$34.2K |
|
14
Charter Communications
CHTR
$14.7B
| $104M | 3.45% |
310,400
-65,000
| -17% | -$22.1M |
|
|
CDK
15
DELISTED
CDK Global, Inc.
CDK
| $104M | 3.43% |
+1,455,800
| New | +$97.7M |
|
|
16
Halliburton
HAL
$27.9B
| $99.7M | 3.3% |
+2,041,000
| New | +$90M |
|
17
British American Tobacco
BTI
$132B
| $93.2M | 3.08% |
1,391,500
+859,090
| +161% | +$56M |
|
18
Commercial Metals
CMC
$7.63B
| $91.3M | 3.02% |
4,283,300
+1,392,800
| +48% | +$27.7M |
|
|
19
Philip Morris
PM
$301B
| $83.7M | 2.77% |
+792,000
| New | +$84.4M |
|
20
FedEx
FDX
$74.5B
| $77.1M | 2.55% |
309,000
+150,000
| +94% | +$34.3M |
|
|
21
Hilton Grand Vacations
HGV
$3.84B
| $76.7M | 2.54% |
1,828,470
-2,172,730
| -54% | -$88.4M |
|
22
CALL
Altria Group
MO
$122B
| $71.4M | 2.36% |
+1,000,000
| New | +$67M |
|
23
Vale
VALE
$62.9B
| $66.6M | 2.2% |
+5,445,100
| New | +$57.8M |
|
24
Mohawk Industries
MHK
$6.9B
| $38.8M | 1.28% |
140,500
-133,300
| -49% | -$35.8M |
|
|
LVNTA
25
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
| $35.6M | 1.18% |
656,900
-17,300
| -3% | -$985K |
|
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Highline Capital Management's Q4 2017 Portfolio in Review
As of Q4 2017, Highline Capital Management held 46 positions worth $3.02B, down 14% from $3.53B the previous quarter. Its ten largest holdings account for 51% of the portfolio.
Highline Capital Management withdrew a net $731M in Q4 2017, closing 14 positions and reducing 15 holdings. Its most notable exit was Crown Castle, an estimated $149M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 22% of assets, down from 26% a quarter earlier, followed by Communication Services and Financials.
Against the trend, Highline Capital Management opened a new position in ArcelorMittal worth $137M.
- Highline Capital Management's largest Q4 2017 buy was ArcelorMittal: 4,234,300 shares worth $137M.
- Highline Capital Management added most to Caesars Entertainment Corporation in Q4 2017, an estimated $118M increase.
- Highline Capital Management's biggest Q4 2017 reduction was Hilton Grand Vacations, cutting an estimated $88.4M.
- Highline Capital Management fully exited Crown Castle in Q4 2017, selling an estimated $149M.
- Highline Capital Management's ten largest holdings make up 51% of its $3.02B portfolio in Q4 2017.
- Highline Capital Management opened 8 new positions and closed 14 in Q4 2017.
- Highline Capital Management's portfolio value fell 14% quarter-over-quarter to $3.02B.
Based on Highline Capital Management's 13F filing for Q4 2017, filed 14 Feb 2018.