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Fir Tree Capital Management Portfolio holdings

AUM $21.8M
1-Year Est. Return 1.61%
This Fund
S&P 500
This Quarter Est. Return
+4.95%
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
$7.01B
AUM Growth
-$2.58B
Cap. Flow
-$2.83B
Cap. Flow %
-40.39%
Top 10 Hldgs %
49.59%
Holding
93
New
9
Increased
8
Reduced
23
Closed
28

Top Buys

Rank Stock Value
1
AAP icon
Advance Auto Parts
AAP
+$240M
2
MET icon
MetLife
MET
+$213M
3
HCA icon
HCA Healthcare
HCA
+$77.2M
4
AGN
Allergan plc
AGN
+$61.5M
5
ARMK icon
Aramark
ARMK
+$52.4M

Top Sells

Rank Stock Value
1
WMB icon
Williams Companies
WMB
+$345M
2
ESRX
Express Scripts Holding Company
ESRX
+$314M
3
EBAY icon
eBay
EBAY
+$264M
4
AGN
Allergan Inc
AGN
+$257M
5
MSI icon
Motorola Solutions
MSI
+$195M

Sector Composition

Rank Sector Weight
1 Industrials 16.45%
2 Healthcare 14.7%
3 Energy 11.92%
4 Real Estate 11.82%
5 Financials 10.87%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EBAY icon
26
CALL
eBay
EBAY
$52.1B
$88M 1.26%
+3,623,400
New +$86.4M
QCOM icon
27
Qualcomm
QCOM
$172B
$69.3M 0.99%
1,000,000
– –
CI icon
28
Cigna
CI
$79.6B
$64.7M 0.92%
499,480
-191,000
-28% -$22.2M
PTC icon
29
PTC
PTC
$14.7B
$53.2M 0.76%
+1,472,032
New +$50.8M
NXEO
30
DELISTED
Nexeo Solutions, Inc. Common Stock
NXEO
$52.5M 0.75%
5,250,000
+250,000
+5% +$2.51M
ARMK icon
31
Aramark
ARMK
$15.1B
$52.2M 0.74%
+2,286,085
New +$52.4M
HOT
32
DELISTED
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
HOT
$49.8M 0.71%
+596,000
New +$46.6M
OSG
33
Octave Specialty Group
OSG
$261M
$47.9M 0.68%
1,977,708
-28,692
-1% -$730K
MR
34
DELISTED
Montage Resources Corporation Common Stock
MR
$44.6M 0.64%
528,587
– –
MYGN icon
35
Myriad Genetics
MYGN
$502M
$39.4M 0.56%
1,112,914
-538,119
-33% -$19.3M
AGFS
36
DELISTED
AgroFresh Solutions Inc
AGFS
$26.7M 0.38%
2,727,750
– –
AUMA
37
DELISTED
AR CAPITAL ACQUISITION CORP COMMON STOCK
AUMA
$25.6M 0.37%
2,600,000
– –
XELA
38
DELISTED
Exela Technologies, Inc. Common Stock
XELA
$24.5M 0.35%
+208
New +$24.5M
IBM icon
39
IBM
IBM
$214B
$21M 0.3%
136,815
-118,988
-47% -$18M
AGO icon
40
Assured Guaranty
AGO
$3.79B
$20.9M 0.3%
793,000
-1,840,000
-70% -$47.6M
CHDN icon
41
Churchill Downs
CHDN
$6.22B
$19.9M 0.28%
1,035,996
– –
LIND icon
42
Lindblad Expeditions
LIND
$1.95B
$18M 0.26%
1,782,000
– –
TRTL
43
DELISTED
Terrapin 3 Acquisition Corporation Class A
TRTL
$17.8M 0.25%
1,831,500
– –
TEVA icon
44
Teva Pharmaceuticals
TEVA
$36.9B
$15.6M 0.22%
250,000
-2,971,114
-92% -$173M
MBI icon
45
MBIA
MBI
$278M
$14.4M 0.21%
1,545,205
– –
GCVRZ
46
DELISTED
Sanofi Contingent Value Rights
GCVRZ
$12.9M 0.18%
19,096,494
– –
ROIQ
47
DELISTED
ROI ACQUISITION CORP II COM STK
ROIQ
$12.3M 0.17%
1,235,900
– –
TACO
48
DELISTED
Del Taco Restaurants, Inc. Common Stock
TACO
$9.29M 0.13%
706,800
-778,200
-52% -$8.14M
APC
49
DELISTED
Anadarko Petroleum
APC
$8.28M 0.12%
100,000
-914,539
-90% -$74.8M
XHR
50
Xenia Hotels & Resorts
XHR
$2.01B
$4.16M 0.06%
+182,644
New +$3.95M
1
2
3 4

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PC
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WHP
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ADIM
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Fir Tree Capital Management's Q1 2015 Portfolio in Review

As of Q1 2015, Fir Tree Capital Management held 93 positions worth $7.01B, down 27% from $9.59B the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Fir Tree Capital Management withdrew a net $2.83B in Q1 2015, closing 28 positions and reducing 23 holdings. Its most notable exit was Express Scripts Holding Company, an estimated $314M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 16% of assets, up from 13% a quarter earlier, followed by Healthcare and Energy.

Against the trend, Fir Tree Capital Management opened a new position in Aramark worth $52.2M.

  • Fir Tree Capital Management's largest Q1 2015 buy was Aramark: 2,286,085 shares worth $52.2M.
  • Fir Tree Capital Management added most to Advance Auto Parts in Q1 2015, an estimated $240M increase.
  • Fir Tree Capital Management's biggest Q1 2015 reduction was Williams Companies, cutting an estimated $345M.
  • Fir Tree Capital Management fully exited Express Scripts Holding Company in Q1 2015, selling an estimated $314M.
  • Fir Tree Capital Management's ten largest holdings make up 50% of its $7.01B portfolio in Q1 2015.
  • Fir Tree Capital Management opened 9 new positions and closed 28 in Q1 2015.
  • Fir Tree Capital Management's portfolio value fell 27% quarter-over-quarter to $7.01B.

Based on Fir Tree Capital Management's 13F filing for Q1 2015, filed 15 May 2015.