Fir Tree Capital Management’s Air Products & Chemicals APD Stock Holding History

Fir Tree Capital Management’s Portfolio APD Stock Details APD Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2015 Q2	–	Sell	-1,804,954	Closed	-$253M	–	59
2015 Q1	$253M	Hold	1,804,954	–	–	3.6%	10
2014 Q4	$241M	Sell	1,804,954 -605,964	-25%	-$76.6M	2.51%	13
2014 Q3	$290M	Hold	2,410,918	–	–	3.26%	9
2014 Q2	$287M	Buy	2,410,918 +220,633	+10%	+$24.6M	3.11%	12
2014 Q1	$241M	Buy	+2,190,285	New	+$232M	2.7%	14

Other funds holding APD

PSCM

Pershing Square Capital Management New York $19.5B AUM 2.08% 1-Year Est. Return

State Farm Mutual Automobile Insurance Bloomington, Illinois $146B AUM 55.73% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

State Street Boston, Massachusetts $3.37T AUM 44.26% 1-Year Est. Return

Viking Global Investors Stamford, Connecticut $35.1B AUM 21.36% 1-Year Est. Return

Sculptor Capital New York $12.3B AUM 40.26% 1-Year Est. Return

BIT

BlackRock Institutional Trust San Francisco, California $675B AUM 16.07% 1-Year Est. Return

Capital World Investors Los Angeles, California $846B AUM 46.74% 1-Year Est. Return

JHIU

Janus Henderson Investors US Denver, Colorado $122B AUM 18.26% 1-Year Est. Return

Franklin Resources San Mateo, California $462B AUM 39.16% 1-Year Est. Return

Fir Tree Capital Management's APD Position: Q2 2015 in Review

Fir Tree Capital Management sold out of Air Products & Chemicals (APD) in Q2 2015, closing a stake of 1,804,954 shares — an estimated $253M sold.

Fir Tree Capital Management first reported a position in APD in Q1 2014 and held it in 5 quarters. The position peaked at $290M in Q3 2014. 827 funds tracked by Wall St. Rank hold APD as of Q2 2015.

Fir Tree Capital Management reported no remaining Air Products & Chemicals position as of Q2 2015 after selling out during the quarter.
Fir Tree Capital Management sold 1,804,954 Air Products & Chemicals shares in Q2 2015, an estimated $253M.
Fir Tree Capital Management first reported a position in Air Products & Chemicals in Q1 2014 and held it in 5 quarters.
Fir Tree Capital Management's Air Products & Chemicals position peaked at $290M in Q3 2014.
827 funds tracked by Wall St. Rank held Air Products & Chemicals as of Q2 2015.

Based on Fir Tree Capital Management's 13F filing for Q2 2015, filed 14 Aug 2015.