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FTCM
Fir Tree Capital Management Portfolio holdings
AUM
$21.8M
1-Year Est. Return
1.61%
This Fund
S&P 500
This Quarter
Est. Return
+3.73%
1 Year Est. Return
-1.61%
3 Year Est. Return
+17.29%
5 Year Est. Return
+41.7%
10 Year Est. Return
+54.64%
AUM
$9.59B
AUM Growth
+$680M
(+7.6%)
Cap. Flow
+$846M
Cap. Flow
% of AUM
8.82%
Top 10 Holdings %
Top 10 Hldgs %
40.57%
Holding
100
New
11
Increased
13
Reduced
14
Closed
13
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
CDK
CDK Global, Inc.
CDK
|
+$501M |
| 2 |
Williams Companies
WMB
|
+$405M |
| 3 |
AGN
Allergan plc
AGN
|
+$273M |
| 4 |
AGN
Allergan Inc
AGN
|
+$241M |
| 5 |
Avis
CAR
|
+$238M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
BP
BP
|
+$318M |
| 2 |
NE
Noble Corporation
NE
|
+$274M |
| 3 |
APC
Anadarko Petroleum
APC
|
+$190M |
| 4 |
ROC
ROCKWOOD HLDGS INC
ROC
|
+$188M |
| 5 |
FCE.A
Forest City Realty Trust, Inc.
FCE.A
|
+$108M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 16.03% |
| 2 | Energy | 15.72% |
| 3 | Industrials | 12.97% |
| 4 | Real Estate | 12.74% |
| 5 | Technology | 11.33% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Crown Castle
CCI
$31.6B
| $169M | 1.76% |
2,146,907
-687,977
| -24% | -$55.1M |
|
27
Bausch Health
BHC
$2.21B
| $162M | 1.68% |
1,129,079
-195,005
| -15% | -$26.2M |
|
|
SEMG
28
DELISTED
SEMGROUP CORPORATION
SEMG
| $134M | 1.39% |
+1,955,526
| New | +$144M |
|
|
GPOR
29
DELISTED
Gulfport Energy Corp.
GPOR
| $121M | 1.26% |
2,888,080
-535,000
| -16% | -$25M |
|
30
Apple
AAPL
$4.86T
| $118M | 1.23% |
4,269,720
| – | – |
|
|
EQC
31
DELISTED
Equity Commonwealth
EQC
| $117M | 1.22% |
4,543,350
| – | – |
|
32
Alibaba
BABA
$272B
| $115M | 1.19% |
1,102,000
| – | – |
|
33
Citigroup
C
$228B
| $90.6M | 0.94% |
1,674,000
| – | – |
|
|
APC
34
DELISTED
Anadarko Petroleum
APC
| $83.7M | 0.87% |
1,014,539
-2,177,461
| -68% | -$190M |
|
|
BERY
35
DELISTED
Berry Global Group, Inc.
BERY
| $82.1M | 0.86% |
2,835,027
| – | – |
|
36
Marvell Technology
MRVL
$197B
| $74.9M | 0.78% |
5,166,000
+2,040,000
| +65% | +$27.7M |
|
37
Qualcomm
QCOM
$192B
| $74.3M | 0.78% |
1,000,000
| – | – |
|
|
AET
38
DELISTED
Aetna Inc
AET
| $71.9M | 0.75% |
809,000
| – | – |
|
39
Cigna
CI
$76.6B
| $71.1M | 0.74% |
690,480
| – | – |
|
40
Assured Guaranty
AGO
$3.21B
| $68.4M | 0.71% |
2,633,000
| – | – |
|
41
Prudential Financial
PRU
$41.2B
| $66.5M | 0.69% |
+734,687
| New | +$63.1M |
|
42
Cognizant
CTSH
$28.9B
| $64.4M | 0.67% |
1,222,400
| – | – |
|
43
Myriad Genetics
MYGN
$363M
| $56.2M | 0.59% |
1,651,033
| – | – |
|
|
MR
44
DELISTED
Montage Resources Corporation Common Stock
MR
| $55.7M | 0.58% |
528,587
+8,087
| +2% | +$1.35M |
|
|
ROIC
45
DELISTED
Retail Opportunity Investments Corp.
ROIC
| $52.9M | 0.55% |
3,150,000
| – | – |
|
|
NXEO
46
DELISTED
Nexeo Solutions, Inc. Common Stock
NXEO
| $51.3M | 0.53% |
5,000,000
| – | – |
|
|
OSG
47
Octave Specialty Group
OSG
$225M
| $49.2M | 0.51% |
2,006,400
| – | – |
|
48
Advance Auto Parts
AAP
$2.72B
| $44.3M | 0.46% |
+278,000
| New | +$40.8M |
|
49
IBM
IBM
$235B
| $39.2M | 0.41% |
+255,803
| New | +$40.7M |
|
50
Marriott Vacations Worldwide
VAC
$3.52B
| $35.4M | 0.37% |
475,034
| – | – |
|
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Fir Tree Capital Management's Q4 2014 Portfolio in Review
As of Q4 2014, Fir Tree Capital Management held 100 positions worth $9.59B, up 7.6% from $8.91B the previous quarter. Its ten largest holdings account for 41% of the portfolio.
Fir Tree Capital Management deployed $846M of net new capital in Q4 2014, opening 11 new positions and adding to 13 existing holdings. Its largest new stake was CDK Global, Inc.: 14,150,000 shares worth $577M.
By sector, the portfolio is most concentrated in Healthcare at 16% of assets, up from 10% a quarter earlier, followed by Energy and Industrials.
On the sell side, the largest reduction was Noble Corporation, an estimated $274M trimmed.
- Fir Tree Capital Management's largest Q4 2014 buy was CDK Global, Inc.: 14,150,000 shares worth $577M.
- Fir Tree Capital Management added most to Williams Companies in Q4 2014, an estimated $405M increase.
- Fir Tree Capital Management's biggest Q4 2014 reduction was Noble Corporation, cutting an estimated $274M.
- Fir Tree Capital Management fully exited BP in Q4 2014, selling an estimated $318M.
- Fir Tree Capital Management's ten largest holdings make up 41% of its $9.59B portfolio in Q4 2014.
- Fir Tree Capital Management opened 11 new positions and closed 13 in Q4 2014.
- Fir Tree Capital Management's portfolio value rose 7.6% quarter-over-quarter to $9.59B.
Based on Fir Tree Capital Management's 13F filing for Q4 2014, filed 17 Feb 2015.