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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
+12.22%
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
$2.34B
AUM Growth
-$106M
Cap. Flow
-$99.9M
Cap. Flow %
-4.28%
Top 10 Hldgs %
69.16%
Holding
73
New
14
Increased
6
Reduced
15
Closed
14

Top Buys

Rank Stock Value
1
TIVO
Tivo Inc
TIVO
+$143M
2
LILAK icon
Liberty Latin America Class C
LILAK
+$90.5M
3
HTZ
Hertz Global Holdings, Inc.
HTZ
+$73.7M
4
HPE icon
Hewlett Packard
HPE
+$68.9M
5
TAP icon
Molson Coors Class B
TAP
+$28.8M

Top Sells

Rank Stock Value
1
EMC
EMC CORPORATION
EMC
+$228M
2
CI icon
Cigna
CI
+$142M
3
AGN
Allergan plc
AGN
+$64.5M
4
HRI icon
Herc Holdings
HRI
+$52.1M
5
MON
Monsanto Co
MON
+$36.1M

Sector Composition

Rank Sector Weight
1 Industrials 23.08%
2 Healthcare 11.78%
3 Energy 11.44%
4 Communication Services 9.09%
5 Consumer Discretionary 8.79%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CWEI
26
DELISTED
Clayton Williams Energy, Inc.
CWEI
$16.9M 0.72%
198,003
-269,092
-58% -$14.7M
BLVD
27
DELISTED
Boulevard Acquisition Corp. II Class A Common Stock
BLVD
$16.7M 0.72%
1,700,000
– –
SCACU
28
DELISTED
Saban Capital Acquisition Corp. Units
SCACU
$16.1M 0.69%
+1,600,000
New +$16.1M
ASAP
29
DELISTED
Waitr Holdings Inc. Common Stock
ASAP
$14.7M 0.63%
+75,000
New +$14.6M
CPAA
30
DELISTED
Conyers Park Acquisition Corp. Class A Common Stock
CPAA
$14M 0.6%
+1,400,000
New +$14M
NEXT icon
31
NextDecade
NEXT
$1.63B
$12M 0.51%
1,184,920
– –
ELEC
32
DELISTED
Electrum Special Acquisition Corporation
ELEC
$10.8M 0.46%
1,100,000
– –
CLAC
33
DELISTED
Capitol Acquisition Corp. III
CLAC
$9.85M 0.42%
1,000,000
– –
PRPL icon
34
Purple Innovation
PRPL
$35.7M
$6.92M 0.3%
28,000
– –
DSKE
35
DELISTED
Daseke, Inc. Common Stock
DSKE
$4.9M 0.21%
500,000
– –
AGRO icon
36
Adecoagro
AGRO
$1.45B
$4.85M 0.21%
425,000
– –
AXAS
37
DELISTED
Abraxas Petroleum Corp
AXAS
$3.66M 0.16%
+108,350
New +$2.95M
TWNK
38
DELISTED
Hostess Brands, Inc. Class A Common Stock
TWNK
$2.97M 0.13%
275,238
-1,724,762
-86% -$18.3M
CIVI
39
DELISTED
Civitas Resources
CIVI
$2.05M 0.09%
18,039
– –
REI icon
40
Ring Energy
REI
$287M
$1.3M 0.06%
+118,784
New +$1.11M
GRSHW
41
DELISTED
Gores Holdings, Inc. Warrants
GRSHW
$1.06M 0.05%
883,552
-1,116,448
-56% -$1.13M
LCAHW
42
DELISTED
Landcadia Holdings, Inc. Warrant
LCAHW
$900K 0.04%
+1,500,000
New +$818K
PACEW
43
DELISTED
Pace Holdings Corp. Warrants
PACEW
$840K 0.04%
2,000,000
– –
EAGLW
44
DELISTED
Double Eagle Acquisition Corp. Warrant
EAGLW
$834K 0.04%
2,085,000
+85,000
+4% +$26.9K
CFCOW
45
DELISTED
CF Corporation
CFCOW
$825K 0.04%
+1,000,000
New +$812K
BLVDW
46
DELISTED
Boulevard Acquisition Corp. II Warrant
BLVDW
$485K 0.02%
850,000
– –
QPACW
47
DELISTED
Quinpario Acquisition Corp. 2 Warrant
QPACW
$438K 0.02%
2,500,000
– –
OSG
48
Octave Specialty Group
OSG
$261M
$399K 0.02%
21,689
-454,332
-95% -$8.15M
NXEOW
49
DELISTED
Nexeo Solutions, Inc. Warrant
NXEOW
$378K 0.02%
609,847
-1,072,239
-64% -$746K
CLACW
50
DELISTED
Capitol Acquisition Corp. III Warrants
CLACW
$344K 0.01%
500,000
– –
1
2
3

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Fir Tree Capital Management's Q3 2016 Portfolio in Review

As of Q3 2016, Fir Tree Capital Management held 73 positions worth $2.34B, down 4.3% from $2.44B the previous quarter. Its ten largest holdings account for 69% of the portfolio.

Fir Tree Capital Management withdrew a net $99.9M in Q3 2016, closing 14 positions and reducing 15 holdings. Its most notable exit was EMC CORPORATION, an estimated $228M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 23% of assets, up from 18% a quarter earlier, followed by Healthcare and Energy.

Against the trend, Fir Tree Capital Management opened a new position in Tivo Inc worth $81.9M.

  • Fir Tree Capital Management's largest Q3 2016 buy was Tivo Inc: 7,243,000 shares worth $81.9M.
  • Fir Tree Capital Management added most to Molson Coors Class B in Q3 2016, an estimated $28.8M increase.
  • Fir Tree Capital Management's biggest Q3 2016 reduction was Herc Holdings, cutting an estimated $52.1M.
  • Fir Tree Capital Management fully exited EMC CORPORATION in Q3 2016, selling an estimated $228M.
  • Fir Tree Capital Management's ten largest holdings make up 69% of its $2.34B portfolio in Q3 2016.
  • Fir Tree Capital Management opened 14 new positions and closed 14 in Q3 2016.
  • Fir Tree Capital Management's portfolio value fell 4.3% quarter-over-quarter to $2.34B.

Based on Fir Tree Capital Management's 13F filing for Q3 2016, filed 14 Nov 2016.