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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
+2.89%
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
$6.28B
AUM Growth
-$729M
(-10%)
Cap. Flow
-$863M
Cap. Flow
% of AUM
-13.75%
Top 10 Holdings %
Top 10 Hldgs %
53.17%
Holding
73
New
7
Increased
8
Reduced
23
Closed
16
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cadence Design Systems
CDNS
|
+$175M |
| 2 |
IPG
Interpublic Group of Companies
IPG
|
+$148M |
| 3 |
Viatris
VTRS
|
+$146M |
| 4 |
Avis
CAR
|
+$137M |
| 5 |
SCTY
SolarCity Corporation
SCTY
|
+$108M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Air Products & Chemicals
APD
|
+$253M |
| 2 |
Equinix
EQIX
|
+$201M |
| 3 |
Teekay
TK
|
+$139M |
| 4 |
MetLife
MET
|
+$138M |
| 5 |
HCA Healthcare
HCA
|
+$118M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 20.16% |
| 2 | Healthcare | 18.84% |
| 3 | Technology | 11.05% |
| 4 | Energy | 9.32% |
| 5 | Financials | 8.49% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Alibaba
BABA
$276B
| $90.7M | 1.44% |
1,102,000
| – | – |
|
27
PTC
PTC
$14.7B
| $88.1M | 1.4% |
2,148,305
+676,273
| +46% | +$26.7M |
|
28
Teva Pharmaceuticals
TEVA
$36.9B
| $84M | 1.34% |
1,421,207
+1,171,207
| +468% | +$72.2M |
|
|
NXEO
29
DELISTED
Nexeo Solutions, Inc. Common Stock
NXEO
| $53.9M | 0.86% |
5,181,600
-68,400
| -1% | -$716K |
|
|
OSG
30
Octave Specialty Group
OSG
$261M
| $30.5M | 0.49% |
1,830,689
-147,019
| -7% | -$3.47M |
|
31
Myriad Genetics
MYGN
$502M
| $28.8M | 0.46% |
846,421
-266,493
| -24% | -$9.06M |
|
|
XELA
32
DELISTED
Exela Technologies, Inc. Common Stock
XELA
| $25.8M | 0.41% |
218
+10
| +5% | +$1.18M |
|
|
AUMA
33
DELISTED
AR CAPITAL ACQUISITION CORP COMMON STOCK
AUMA
| $25.7M | 0.41% |
2,600,000
| – | – |
|
|
TRTL
34
DELISTED
Terrapin 3 Acquisition Corporation Class A
TRTL
| $18.6M | 0.3% |
1,831,500
| – | – |
|
35
IBM
IBM
$214B
| $16.7M | 0.27% |
107,188
-29,627
| -22% | -$4.76M |
|
|
ROIQ
36
DELISTED
ROI ACQUISITION CORP II COM STK
ROIQ
| $12.7M | 0.2% |
1,235,900
| – | – |
|
37
Churchill Downs
CHDN
$6.22B
| $12.6M | 0.2% |
603,996
-432,000
| -42% | -$8.72M |
|
38
NextDecade
NEXT
$1.63B
| $11.7M | 0.19% |
+1,184,920
| New | +$11.7M |
|
|
ELECU
39
DELISTED
Electrum Special Acquisition Corporation
ELECU
| $11M | 0.18% |
+1,100,000
| New | +$11.1M |
|
|
APC
40
DELISTED
Anadarko Petroleum
APC
| $7.81M | 0.12% |
100,000
| – | – |
|
41
MBIA
MBI
$278M
| $5.68M | 0.09% |
945,205
-600,000
| -39% | -$5.42M |
|
|
XHR
42
Xenia Hotels & Resorts
XHR
$2.01B
| $3.97M | 0.06% |
182,644
| – | – |
|
43
Limbach Holdings
LMB
$864M
| $2.92M | 0.05% |
300,000
| – | – |
|
|
AGFS
44
DELISTED
AgroFresh Solutions Inc
AGFS
| $1.58M | 0.03% |
126,335
-2,601,415
| -95% | -$29M |
|
45
Lindblad Expeditions
LIND
$1.95B
| $1.11M | 0.02% |
105,239
-1,676,761
| -94% | -$18.3M |
|
46
Vail Resorts
MTN
$5.6B
| $547K | 0.01% |
5,010
| – | – |
|
|
ROIQW
47
DELISTED
ROI ACQUISITION CORP WT EXP 2/28/2017 (DE)
ROIQW
| $276K | ﹤0.01% |
1,060,900
| – | – |
|
48
Assured Guaranty
AGO
$3.79B
| – | – |
-793,000
| Closed | -$20.9M |
|
|
49
Air Products & Chemicals
APD
$65.2B
| – | – |
-1,804,954
| Closed | -$253M |
|
50
Aramark
ARMK
$15.1B
| – | – |
-2,286,085
| Closed | -$52.2M |
|
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Fir Tree Capital Management's Q2 2015 Portfolio in Review
As of Q2 2015, Fir Tree Capital Management held 73 positions worth $6.28B, down 10% from $7.01B the previous quarter. Its ten largest holdings account for 53% of the portfolio.
Fir Tree Capital Management withdrew a net $863M in Q2 2015, closing 16 positions and reducing 23 holdings. Its most notable exit was Air Products & Chemicals, an estimated $253M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 20% of assets, up from 16% a quarter earlier, followed by Healthcare and Technology.
Against the trend, Fir Tree Capital Management opened a new position in Cadence Design Systems worth $177M.
- Fir Tree Capital Management's largest Q2 2015 buy was Cadence Design Systems: 9,020,138 shares worth $177M.
- Fir Tree Capital Management added most to Interpublic Group of Companies in Q2 2015, an estimated $148M increase.
- Fir Tree Capital Management's biggest Q2 2015 reduction was Equinix, cutting an estimated $201M.
- Fir Tree Capital Management fully exited Air Products & Chemicals in Q2 2015, selling an estimated $253M.
- Fir Tree Capital Management's ten largest holdings make up 53% of its $6.28B portfolio in Q2 2015.
- Fir Tree Capital Management opened 7 new positions and closed 16 in Q2 2015.
- Fir Tree Capital Management's portfolio value fell 10% quarter-over-quarter to $6.28B.
Based on Fir Tree Capital Management's 13F filing for Q2 2015, filed 14 Aug 2015.