Fir Tree Capital Management’s Hess HES Stock Holding History

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

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2016 Q1	–	Sell	-2,902,853	Closed	-$141M	–	65
2015 Q4	$141M	Hold	2,902,853	–	–	2.5%	17
2015 Q3	$145M	Hold	2,902,853	–	–	2.44%	17
2015 Q2	$194M	Hold	2,902,853	–	–	3.09%	14
2015 Q1	$197M	Hold	2,902,853	–	–	2.81%	18
2014 Q4	$214M	Hold	2,902,853	–	–	2.23%	18
2014 Q3	$274M	Hold	2,902,853	–	–	3.07%	10
2014 Q2	$287M	Sell	2,902,853 -1,046,800	-27%	-$94.5M	3.11%	11
2014 Q1	$327M	Buy	3,949,653 +367,504	+10%	+$29.2M	3.67%	8
2013 Q4	$297M	Buy	3,582,149 +193,000	+6%	+$15.7M	3.38%	9
2013 Q3	$262M	Sell	3,389,149 -727,151	-18%	-$54.2M	3.58%	10
2013 Q2	$274M	Buy	+4,116,300	New	+$285M	3.78%	8

Other funds holding HES

Elliott Management New York $11.8B AUM 20.29% 1-Year Est. Return

Wellington Management Group Boston, Massachusetts $535B AUM 26.23% 1-Year Est. Return

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

Hotchkis & Wiley Capital Management Los Angeles, California $32.4B AUM 17.21% 1-Year Est. Return

State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

T. Rowe Price Associates Baltimore, Maryland $865B AUM 30.76% 1-Year Est. Return

Fidelity Investments Boston, Massachusetts $1.9T AUM 41.92% 1-Year Est. Return

BIT

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

AllianceBernstein Nashville, Tennessee $309B AUM 23.92% 1-Year Est. Return

Invesco Atlanta, Georgia $1.02T AUM 30.18% 1-Year Est. Return

Fir Tree Capital Management's HES Position: Q1 2016 in Review

Fir Tree Capital Management sold out of Hess (HES) in Q1 2016, closing a stake of 2,902,853 shares — an estimated $141M sold.

Fir Tree Capital Management first reported a position in HES in Q2 2013 and held it in 11 quarters. The position peaked at $327M in Q1 2014. 556 funds tracked by Wall St. Rank hold HES as of Q1 2016.

Fir Tree Capital Management reported no remaining Hess position as of Q1 2016 after selling out during the quarter.
Fir Tree Capital Management sold 2,902,853 Hess shares in Q1 2016, an estimated $141M.
Fir Tree Capital Management first reported a position in Hess in Q2 2013 and held it in 11 quarters.
Fir Tree Capital Management's Hess position peaked at $327M in Q1 2014.
556 funds tracked by Wall St. Rank held Hess as of Q1 2016.

Based on Fir Tree Capital Management's 13F filing for Q1 2016, filed 16 May 2016.