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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
+4.76%
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
$605M
AUM Growth
-$352M
Cap. Flow
-$354M
Cap. Flow %
-58.45%
Top 10 Hldgs %
40.58%
Holding
238
New
18
Increased
14
Reduced
102
Closed
92

Top Buys

Rank Stock Value
1
CNNE icon
Cannae Holdings
CNNE
+$15.3M
2
M icon
Macy's
M
+$10.9M
3
NATL icon
NCR Atleos
NATL
+$10.3M
4
SIX
Six Flags Entertainment Corp.
SIX
+$4.97M
5
ANSCU
Agriculture & Natural Solutions Acquisition Corp Unit
ANSCU
+$4.04M

Top Sells

Rank Stock Value
1
PCG icon
PG&E
PCG
+$28.2M
2
VYX icon
NCR Voyix
VYX
+$22.3M
3
NFYS
Enphys Acquisition Corp.
NFYS
+$21.7M
4
AAC
Ares Acquisition Corporation
AAC
+$16.4M
5
APGB
Apollo Strategic Growth Capital II
APGB
+$15.8M

Sector Composition

Rank Sector Weight
1 Financials 41.66%
2 Consumer Discretionary 9.54%
3 Technology 8.5%
4 Industrials 7.32%
5 Healthcare 2.77%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KRNL
26
DELISTED
Kernel Group Holdings, Inc. Class A Ordinary Shares
KRNL
$4.93M 0.82%
459,482
-3,179
-0.7% -$33.9K
DEVS
27
DELISTED
DevvStream Corp
DEVS
$4.81M 0.79%
44,595
+2,949
+7% +$320K
SVII
28
DELISTED
Spring Valley Acquisition Corp II
SVII
$4.73M 0.78%
436,300
– –
NFYS
29
DELISTED
Enphys Acquisition Corp.
NFYS
$4.62M 0.76%
433,337
-2,048,987
-83% -$21.7M
HHLA
30
DELISTED
HH&L Acquisition Co.
HHLA
$4.61M 0.76%
416,105
-3,895
-0.9% -$41.5K
OPA
31
DELISTED
Magnum Opus Acquisition Limited
OPA
$4.55M 0.75%
421,638
-83,620
-17% -$896K
VAQC
32
DELISTED
Vector Acquisition Corporation II Class A Ordinary Shares
VAQC
$4.48M 0.74%
424,346
-14,892
-3% -$157K
IRRX
33
DELISTED
Integrated Rail and Resources Acquisition Corp.
IRRX
$4.36M 0.72%
396,490
-33,165
-8% -$363K
CFFS
34
DELISTED
CF Acquisition Corp. VII Class A Common Stock
CFFS
$4.32M 0.71%
398,160
-1,840
-0.5% -$19.8K
LGVC
35
DELISTED
LAMF Global Ventures Corp. I Class A Ordinary Shares
LGVC
$4.31M 0.71%
399,811
-189
-0% -$2.03K
SDST
36
Stardust Power Inc
SDST
$10.3M
$4.21M 0.7%
38,064
-16
-0% -$1.75K
CPTK
37
DELISTED
Crown PropTech Acquisitions
CPTK
$4.08M 0.67%
383,179
-16,821
-4% -$178K
LIBY
38
DELISTED
Liberty Resources Acquisition Corp. Class A Common Stock
LIBY
$4.07M 0.67%
371,759
-3,847
-1% -$41.9K
ANSCU
39
Agriculture & Natural Solutions Acquisition Corp Unit
ANSCU
$4.06M 0.67%
+400,000
New +$4.04M
DPCS
40
DELISTED
DP Cap Acquisition Corp I Class A Ordinary Shares
DPCS
$4M 0.66%
367,588
-32,412
-8% -$350K
KDK
41
Kodiak AI
KDK
$776M
$3.98M 0.66%
381,080
-18,920
-5% -$196K
ZLS
42
DELISTED
Zalatoris II Acquisition Corp Class A Ordinary Shares
ZLS
$3.96M 0.65%
371,537
-245,075
-40% -$2.61M
CBRG
43
DELISTED
Chain Bridge I Class A Ordinary Shares
CBRG
$3.93M 0.65%
362,499
-37,501
-9% -$405K
HCVI
44
DELISTED
Hennessy Capital Investment Corp. VI Class A Common Stock
HCVI
$3.82M 0.63%
366,285
-328,864
-47% -$3.42M
CITE
45
DELISTED
Cartica Acquisition Corp Class A Ordinary Shares
CITE
$3.82M 0.63%
350,000
– –
TETE
46
DELISTED
Technology & Telecommunication Acquisition Corporation Class A Ordinary Shares
TETE
$3.82M 0.63%
333,156
-4,844
-1% -$55.4K
BFAC
47
DELISTED
Battery Future Acquisition Corp.
BFAC
$3.8M 0.63%
350,000
+15,758
+5% +$171K
ZPTA
48
DELISTED
Zapata Computing Holdings Inc. Common Stock
ZPTA
$3.76M 0.62%
345,616
-4,384
-1% -$47.4K
ASCB
49
DELISTED
A SPAC II Acquisition Corp. Ordinary Shares
ASCB
$3.56M 0.59%
328,075
-171,925
-34% -$1.87M
ALSA
50
DELISTED
Alpha Star Acquisition Corp
ALSA
$3.38M 0.56%
301,250
-72,748
-19% -$810K
1
2
3 4 5

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Fir Tree Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Fir Tree Capital Management held 238 positions worth $605M, down 37% from $957M the previous quarter. Its ten largest holdings account for 41% of the portfolio.

Fir Tree Capital Management withdrew a net $354M in Q4 2023, closing 92 positions and reducing 102 holdings. Its most notable exit was PG&E, an estimated $28.2M position sold in full.

By sector, the portfolio is most concentrated in Financials at 42% of assets, down from 56% a quarter earlier, followed by Consumer Discretionary and Technology.

Against the trend, Fir Tree Capital Management opened a new position in Cannae Holdings worth $16.4M.

  • Fir Tree Capital Management's largest Q4 2023 buy was Cannae Holdings: 840,000 shares worth $16.4M.
  • Fir Tree Capital Management added most to Goldenstone Acquisition Limited Common Stock in Q4 2023, an estimated $1.88M increase.
  • Fir Tree Capital Management's biggest Q4 2023 reduction was Enphys Acquisition Corp., cutting an estimated $21.7M.
  • Fir Tree Capital Management fully exited PG&E in Q4 2023, selling an estimated $28.2M.
  • Fir Tree Capital Management's ten largest holdings make up 41% of its $605M portfolio in Q4 2023.
  • Fir Tree Capital Management opened 18 new positions and closed 92 in Q4 2023.
  • Fir Tree Capital Management's portfolio value fell 37% quarter-over-quarter to $605M.

Based on Fir Tree Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.