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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
+5.3%
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
$7.32B
AUM Growth
+$81.4M
Cap. Flow
+$370M
Cap. Flow %
5.06%
Top 10 Hldgs %
48.87%
Holding
118
New
52
Increased
18
Reduced
17
Closed
13

Top Buys

Rank Stock Value
1
CCI icon
Crown Castle
CCI
+$257M
2
EQIX icon
Equinix
EQIX
+$163M
3
ESRX
Express Scripts Holding Company
ESRX
+$156M
4
EQT icon
EQT Corp
EQT
+$124M
5
EXXI
ENERGY XXI LTD COM SHS
EXXI
+$103M

Top Sells

Rank Stock Value
1
MSI icon
Motorola Solutions
MSI
+$169M
2
QCOM icon
Qualcomm
QCOM
+$157M
3
WMB icon
Williams Companies
WMB
+$127M
4
CTSH icon
Cognizant
CTSH
+$123M
5
YHOO
Yahoo Inc
YHOO
+$60.6M

Sector Composition

Rank Sector Weight
1 Real Estate 20.28%
2 Miscellaneous 19.25%
3 Energy 17.09%
4 Financials 14.38%
5 Technology 10.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
USG
51
DELISTED
Usg
USG
$12.6M 0.17%
+439,399
New +$11.2M
EQC
52
CALL
DELISTED
Equity Commonwealth
EQC
$12.5M 0.17%
570,000
-4,225,000
-88% -$101M
ZAIS
53
DELISTED
ZAIS Group Holdings, Inc.
ZAIS
$12.3M 0.17%
1,215,000
+215,000
+22% +$2.18M
WHR icon
54
Whirlpool
WHR
$2.22B
$12M 0.16%
+82,029
New +$10.9M
LOW icon
55
Lowe's Companies
LOW
$111B
$11.8M 0.16%
+248,364
New +$11.3M
MHK icon
56
Mohawk Industries
MHK
$8.77B
$11.7M 0.16%
+89,894
New +$11M
SWK icon
57
Stanley Black & Decker
SWK
$13.4B
$11.7M 0.16%
+128,894
New +$11M
FBIN icon
58
Fortune Brands Innovations
FBIN
$4.86B
$11.6M 0.16%
+326,938
New +$11.2M
MAS icon
59
Masco
MAS
$13.7B
$11.6M 0.16%
+618,240
New +$11M
HD icon
60
Home Depot
HD
$310B
$11.5M 0.16%
+151,927
New +$11.7M
NMA
61
DELISTED
NUVEEN MUNI ADVANTAGE FUND
NMA
$11.3M 0.15%
+905,104
New +$11.3M
OC icon
62
Owens Corning
OC
$10.2B
$11.2M 0.15%
+294,449
New +$11.5M
CLX icon
63
Clorox
CLX
$10.8B
$11.2M 0.15%
+136,629
New +$11.5M
VGM icon
64
Invesco Trust Investment Grade Municipals
VGM
$530M
$9.47M 0.13%
+759,850
New +$9.36M
ROICW
65
DELISTED
RETAIL OPPORTUNITY INVESTMENTS CORP WTS EXP 10/17/2011 (MD)
ROICW
$9.13M 0.12%
4,350,000
– –
NID
66
DELISTED
NUVEEN INTERMEDIATE DURATION MUNICIPAL TERM FUND
NID
$8.94M 0.12%
+778,721
New +$9.06M
NEA icon
67
Nuveen AMT-Free Quality Municipal Income Fund
NEA
$3.24B
$8.68M 0.12%
+695,075
New +$8.54M
HPAC
68
DELISTED
HYDE PK ACQUISITION CORP II COM STK (DE)
HPAC
$7.72M 0.11%
742,500
– –
LNCO
69
CALL
DELISTED
LINNCO LLC COM SHS REPSTG LTD LIABILITY
LNCO
$7.29M 0.1%
250,000
-20,000
-7% -$581K
NQS
70
DELISTED
NUVEEN SELECT QUALITY MUNI FD
NQS
$7.16M 0.1%
+563,553
New +$7.15M
CHDN icon
71
Churchill Downs
CHDN
$5.83B
$7.02M 0.1%
486,774
+120,000
+33% +$1.66M
NZF icon
72
Nuveen Municipal Credit Income Fund
NZF
$2.26B
$6.74M 0.09%
+530,730
New +$6.59M
CACG
73
DELISTED
CHART ACQUISITION CORP COM
CACG
$6.72M 0.09%
675,000
– –
NMZ icon
74
Nuveen Municipal High Income Opportunity Fund
NMZ
$2.04B
$6.06M 0.08%
+519,613
New +$6.03M
NBB icon
75
Nuveen Taxable Municipal Income Fund
NBB
$443M
$4.72M 0.06%
+261,375
New +$4.82M
1 2
3
4 5

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AVM
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PC
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WHP
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ADIM
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CAWM
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AI
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CP
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Fir Tree Capital Management's Q3 2013 Portfolio in Review

As of Q3 2013, Fir Tree Capital Management held 118 positions worth $7.32B, up 1.1% from $7.24B the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Fir Tree Capital Management deployed $370M of net new capital in Q3 2013, opening 52 new positions and adding to 18 existing holdings. Its largest new stake was Crown Castle: 3,599,484 shares worth $263M.

By sector, the portfolio is most concentrated in Real Estate at 20% of assets, up from 12% a quarter earlier, followed by Miscellaneous and Energy.

On the sell side, the largest reduction was Motorola Solutions, an estimated $169M trimmed.

  • Fir Tree Capital Management's largest Q3 2013 buy was Crown Castle: 3,599,484 shares worth $263M.
  • Fir Tree Capital Management added most to Equinix in Q3 2013, an estimated $163M increase.
  • Fir Tree Capital Management's biggest Q3 2013 reduction was Motorola Solutions, cutting an estimated $169M.
  • Fir Tree Capital Management fully exited Global Payments in Q3 2013, selling an estimated $17.5M.
  • Fir Tree Capital Management's ten largest holdings make up 49% of its $7.32B portfolio in Q3 2013.
  • Fir Tree Capital Management opened 52 new positions and closed 13 in Q3 2013.
  • Fir Tree Capital Management's portfolio value rose 1.1% quarter-over-quarter to $7.32B.

Based on Fir Tree Capital Management's 13F filing for Q3 2013, filed 14 Nov 2013.