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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
+7.55%
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
$1.01B
AUM Growth
-$12.2M
Cap. Flow
-$54M
Cap. Flow %
-5.33%
Top 10 Hldgs %
66.99%
Holding
68
New
6
Increased
8
Reduced
13
Closed
16

Top Buys

Rank Stock Value
1
SLM icon
SLM Corp
SLM
+$92.1M
2
VER
VEREIT, Inc.
VER
+$85.7M
3
JNJ icon
Johnson & Johnson
JNJ
+$62.1M
4
LHX icon
L3Harris
LHX
+$30.5M
5
LAUR icon
Laureate Education
LAUR
+$25M

Top Sells

Rank Stock Value
1
FE icon
FirstEnergy
FE
+$134M
2
AGN
Allergan plc
AGN
+$51.9M
3
MHK icon
Mohawk Industries
MHK
+$51.7M
4
AABA
Altaba Inc
AABA
+$41.1M
5
ROAN
Roan Resources, Inc.
ROAN
+$18.1M

Sector Composition

Rank Sector Weight
1 Healthcare 17.58%
2 Technology 14.8%
3 Industrials 12.89%
4 Financials 9.32%
5 Consumer Staples 8.3%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LAZR
26
DELISTED
Luminar Technologies
LAZR
$6.12M 0.6%
40,000
– –
EXPCU
27
DELISTED
Experience Investment Corp. Unit
EXPCU
$5.07M 0.5%
500,000
– –
SBE.U
28
DELISTED
Switchback Energy Acquisition Corporation
SBE.U
$5.01M 0.49%
500,000
– –
HIMS icon
29
Hims & Hers Health
HIMS
$6.79B
$4.95M 0.49%
500,000
– –
GNOG
30
DELISTED
Golden Nugget Online Gaming, Inc. Class A Common Stock
GNOG
$4.93M 0.49%
500,000
– –
DMS
31
DELISTED
Digital Media Solutions, Inc.
DMS
$4.87M 0.48%
31,382
– –
HON icon
32
PUT
Honeywell
HON
$78.3B
$4.46M 0.44%
26,737
+1,697
+7% +$277K
TXT icon
33
PUT
Textron
TXT
$15.6B
$4.06M 0.4%
91,000
+6,000
+7% +$278K
NFINU
34
DELISTED
Netfin Acquisition Corp. Unit
NFINU
$3.84M 0.38%
375,000
– –
HEI icon
35
PUT
HEICO Corp
HEI
$50.8B
$3.47M 0.34%
30,400
+2,000
+7% +$246K
CHAP
36
DELISTED
Chaparral Energy, Inc.
CHAP
$3.08M 0.3%
1,748,494
– –
ALUS.U
37
DELISTED
Alussa Energy Acquisition Corp
ALUS.U
$3.02M 0.3%
+300,000
New +$3.01M
CCX.U
38
DELISTED
Churchill Capital Corp II
CCX.U
$2.54M 0.25%
235,372
-14,628
-6% -$157K
NPAUU
39
DELISTED
New Providence Acquisition Corp. Unit
NPAUU
$2.06M 0.2%
200,000
– –
PIC.U
40
DELISTED
Pivotal Investment Corporation II Units, each consisting of one share of Class A common stock and on
PIC.U
$2.04M 0.2%
200,000
– –
I
41
DELISTED
INTELSAT S. A.
I
$1.87M 0.18%
265,500
-403,483
-60% -$6.34M
FPAC.WS
42
DELISTED
Far Point Acquisition Corporation Warrants, exercisable for one share of Class A Common Stock for $1
FPAC.WS
$894K 0.09%
693,020
– –
GSAH.WS
43
DELISTED
GS Acquisition Holdings Corp Warrants, each whole warrant exercisable for one share of Class A Commo
GSAH.WS
$614K 0.06%
266,533
-294,467
-52% -$504K
CCH.WS
44
DELISTED
Collier Creek Holdings Warrants, each whole warrant exercisable for one Class A ordinary share at an
CCH.WS
$510K 0.05%
366,666
– –
GRSHW
45
DELISTED
Gores Holdings III, Inc. Warrants
GRSHW
$432K 0.04%
278,942
– –
TRNE.WS
46
DELISTED
Trine Acquisition Corp. Redeemable Warrants, each whole warrant exercisable for one share of Class A
TRNE.WS
$356K 0.04%
375,000
– –
DEACW
47
DELISTED
Diamond Eagle Acquisition Corp. Warrant
DEACW
$326K 0.03%
136,038
-113,962
-46% -$157K
SPAQ.WS
48
DELISTED
Spartan Energy Acquisition Corp. Warrants, each whole warrant exercisable for one Class A common sto
SPAQ.WS
$318K 0.03%
577,341
– –
GMHIW
49
DELISTED
Gores Metropoulos, Inc. Warrant
GMHIW
$300K 0.03%
200,000
– –
OAC.WS
50
DELISTED
Oaktree Acquisition Corp. Warrants, each whole warrant exercisable for one Class A Ordinary Share at
OAC.WS
$158K 0.02%
166,666
– –
1
2
3

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Fir Tree Capital Management's Q4 2019 Portfolio in Review

As of Q4 2019, Fir Tree Capital Management held 68 positions worth $1.01B, down 1.2% from $1.03B the previous quarter. Its ten largest holdings account for 67% of the portfolio.

Fir Tree Capital Management withdrew a net $54M in Q4 2019, closing 16 positions and reducing 13 holdings. Its most notable exit was FirstEnergy, an estimated $134M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 18% of assets, up from 15% a quarter earlier, followed by Technology and Industrials.

Against the trend, Fir Tree Capital Management opened a new position in SLM Corp worth $94.5M.

  • Fir Tree Capital Management's largest Q4 2019 buy was SLM Corp: 10,600,803 shares worth $94.5M.
  • Fir Tree Capital Management added most to Laureate Education in Q4 2019, an estimated $25M increase.
  • Fir Tree Capital Management's biggest Q4 2019 reduction was Allergan plc, cutting an estimated $51.9M.
  • Fir Tree Capital Management fully exited FirstEnergy in Q4 2019, selling an estimated $134M.
  • Fir Tree Capital Management's ten largest holdings make up 67% of its $1.01B portfolio in Q4 2019.
  • Fir Tree Capital Management opened 6 new positions and closed 16 in Q4 2019.
  • Fir Tree Capital Management's portfolio value fell 1.2% quarter-over-quarter to $1.01B.

Based on Fir Tree Capital Management's 13F filing for Q4 2019, filed 30 Jan 2020.