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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
+7.66%
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
$1.17B
AUM Growth
-$255M
Cap. Flow
-$260M
Cap. Flow %
-22.22%
Top 10 Hldgs %
72.5%
Holding
73
New
11
Increased
2
Reduced
8
Closed
21

Top Buys

Rank Stock Value
1
C icon
Citigroup
C
+$135M
2
BKNG icon
Booking.com
BKNG
+$45.8M
3
LAUR icon
Laureate Education
LAUR
+$22.4M
4
FSR
Fisker Inc.
FSR
+$16.9M
5
STAY
Extended Stay America, Inc. Paired Share Unit
STAY
+$15.2M

Top Sells

Rank Stock Value
1
EA icon
Electronic Arts
EA
+$56.8M
2
SHPG
Shire pic
SHPG
+$56.7M
3
LKQ icon
LKQ Corp
LKQ
+$50.6M
4
NXPI icon
NXP Semiconductors
NXPI
+$50.5M
5
MHK icon
Mohawk Industries
MHK
+$48.5M

Sector Composition

Rank Sector Weight
1 Technology 21.61%
2 Financials 19.72%
3 Consumer Discretionary 15.16%
4 Utilities 14.71%
5 Energy 14.29%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NFH
26
DELISTED
New Frontier Health Corporation Ordinary Shares
NFH
$9.89M 0.85%
1,000,000
– –
SM icon
27
SM Energy
SM
$7.11B
$9.63M 0.82%
550,880
– –
SONY icon
28
Sony
SONY
$133B
$8.91M 0.76%
+1,055,005
New +$9.88M
PAE
29
DELISTED
PAE Incorporated Class A Common Stock
PAE
$8.41M 0.72%
850,000
– –
SCAC
30
DELISTED
Saban Capital Acquisition Corp. Class A Ordinary Share
SCAC
$8.22M 0.7%
800,000
– –
TRNE.U
31
DELISTED
Trine Acquisition Corp. Units, each consisting of one share of Class A Common Stock and one-half of
TRNE.U
$7.51M 0.64%
+750,000
New +$7.51M
GMHIU
32
DELISTED
Gores Metropoulos, Inc. Unit
GMHIU
$6.14M 0.53%
+600,000
New +$6.11M
LHC.U
33
DELISTED
Leo Holdings Corp. II Units, each consisting of one Class A ordinary share and one-quarter of one redeemable warrant
LHC.U
$5.2M 0.44%
500,000
– –
AHCO icon
34
AdaptHealth
AHCO
$1.53B
$5M 0.43%
500,000
– –
PVT.U
35
DELISTED
Pivotal Acquisition Corp.
PVT.U
$4.08M 0.35%
+400,000
New +$4.05M
FPAC.WS
36
DELISTED
Far Point Acquisition Corporation Warrants, exercisable for one share of Class A Common Stock for $1
FPAC.WS
$945K 0.08%
700,000
– –
GSAH.WS
37
DELISTED
GS Acquisition Holdings Corp Warrants, each whole warrant exercisable for one share of Class A Commo
GSAH.WS
$875K 0.07%
561,000
-5,666
-1% -$7.25K
CIC.WS
38
DELISTED
Capitol Investment Corp. IV
CIC.WS
$828K 0.07%
600,000
– –
TPGH.WS
39
DELISTED
TPG Pace Holdings Corp. Warrants, each exercisable for one Class A Ordinary Share at an exercise pri
TPGH.WS
$667K 0.06%
466,666
– –
SPAQ.WS
40
DELISTED
Spartan Energy Acquisition Corp. Warrants, each whole warrant exercisable for one Class A common sto
SPAQ.WS
$642K 0.05%
+583,332
New +$659K
AMR
41
DELISTED
Alta Mesa Resources Inc
AMR
$503K 0.04%
1,894,500
– –
MOSC.WS
42
DELISTED
Mosaic Acquisition Corp. Warrants, each exercisable for one Class A Common Stock at an exercise pric
MOSC.WS
$488K 0.04%
600,000
– –
RWGE.WS
43
DELISTED
Regalwood Global Energy Ltd. Warrants, each whole warrant exercisable for one Class A ordinary share
RWGE.WS
$485K 0.04%
500,000
– –
THWWW
44
DELISTED
Target Hospitality Corp. Warrant expiring 3/15/2024
THWWW
$439K 0.04%
+283,131
New +$422K
CCH.WS
45
DELISTED
Collier Creek Holdings Warrants, each whole warrant exercisable for one Class A ordinary share at an
CCH.WS
$425K 0.04%
366,666
– –
GRSHW
46
DELISTED
Gores Holdings III, Inc. Warrants
GRSHW
$404K 0.03%
283,332
– –
IPOA.WS
47
DELISTED
Social Capital Hedosophia Holdings Corp. Warrants, each whole warrant exercisable for one Class A Or
IPOA.WS
$400K 0.03%
500,000
– –
NFC.WS
48
DELISTED
New Frontier Corporation Warrants, each whole warrant exercisable for one Class A ordinary share at
NFC.WS
$355K 0.03%
500,000
– –
DFBHW
49
DELISTED
DFB Healthcare Acquisitions Corp. Warrant
DFBHW
$192K 0.02%
166,666
– –
CNACR
50
DELISTED
Constellation Alpha Capital Corp. Right
CNACR
$157K 0.01%
1,249,999
– –
1
2
3

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Fir Tree Capital Management's Q1 2019 Portfolio in Review

As of Q1 2019, Fir Tree Capital Management held 73 positions worth $1.17B, down 18% from $1.42B the previous quarter. Its ten largest holdings account for 72% of the portfolio.

Fir Tree Capital Management withdrew a net $260M in Q1 2019, closing 21 positions and reducing 8 holdings. Its most notable exit was Electronic Arts, an estimated $56.8M position sold in full.

By sector, the portfolio is most concentrated in Technology at 22% of assets, up from 21% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Fir Tree Capital Management opened a new position in Citigroup worth $135M.

  • Fir Tree Capital Management's largest Q1 2019 buy was Citigroup: 2,169,136 shares worth $135M.
  • Fir Tree Capital Management added most to Navient in Q1 2019, an estimated $7.34M increase.
  • Fir Tree Capital Management's biggest Q1 2019 reduction was Mohawk Industries, cutting an estimated $48.5M.
  • Fir Tree Capital Management fully exited Electronic Arts in Q1 2019, selling an estimated $56.8M.
  • Fir Tree Capital Management's ten largest holdings make up 72% of its $1.17B portfolio in Q1 2019.
  • Fir Tree Capital Management opened 11 new positions and closed 21 in Q1 2019.
  • Fir Tree Capital Management's portfolio value fell 18% quarter-over-quarter to $1.17B.

Based on Fir Tree Capital Management's 13F filing for Q1 2019, filed 15 May 2019.