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FTCM
Fir Tree Capital Management Portfolio holdings
AUM
$21.8M
1-Year Est. Return
1.61%
This Fund
S&P 500
This Quarter
Est. Return
+5.13%
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
$2.44B
AUM Growth
-$198M
(-7.5%)
Cap. Flow
-$292M
Cap. Flow
% of AUM
-11.96%
Top 10 Holdings %
Top 10 Hldgs %
73.14%
Holding
69
New
10
Increased
4
Reduced
15
Closed
10
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$90M |
| 2 |
Molson Coors Class B
TAP
|
+$84.5M |
| 3 |
EMC
EMC CORPORATION
EMC
|
+$57.8M |
| 4 |
Cigna
CI
|
+$51.9M |
| 5 |
MON
Monsanto Co
MON
|
+$34.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HCA Healthcare
HCA
|
+$99.1M |
| 2 |
CDK
CDK Global, Inc.
CDK
|
+$92.9M |
| 3 |
YHOO
Yahoo Inc
YHOO
|
+$62M |
| 4 |
AGN
Allergan plc
AGN
|
+$50.2M |
| 5 |
Teva Pharmaceuticals
TEVA
|
+$49.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 20.07% |
| 2 | Industrials | 18.39% |
| 3 | Technology | 13.83% |
| 4 | Energy | 9.92% |
| 5 | Real Estate | 8.77% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
BLVDW
51
DELISTED
Boulevard Acquisition Corp. II Warrant
BLVDW
| $281K | 0.01% |
850,000
| – | – |
|
|
ELECW
52
DELISTED
Electrum Special Acquisition Corporation
ELECW
| $259K | 0.01% |
1,100,000
| – | – |
|
|
CLACW
53
DELISTED
Capitol Acquisition Corp. III Warrants
CLACW
| $175K | 0.01% |
500,000
| – | – |
|
|
GPACW
54
DELISTED
Global Partner Acquisition Corp
GPACW
| $147K | 0.01% |
700,000
| – | – |
|
55
Avis
CAR
$5.88B
| – | – |
-1,679,549
| Closed | -$46M |
|
56
Churchill Downs
CHDN
$6.22B
| – | – |
-603,996
| Closed | -$14.9M |
|
57
CALL
Freeport-McMoran
FCX
$88.6B
| – | – |
-1,460,200
| Closed | -$15.1M |
|
58
MBIA
MBI
$278M
| – | – |
-11,379
| Closed | -$101K |
|
59
Pfizer
PFE
$144B
| – | – |
-1,067,913
| Closed | -$30M |
|
60
Viatris
VTRS
$20.8B
| – | – |
-908,741
| Closed | -$42.1M |
|
|
AGN
61
CALL
DELISTED
Allergan plc
AGN
| – | – |
-100,000
| Closed | -$26.8M |
|
|
NXEO
62
DELISTED
Nexeo Solutions, Inc. Common Stock
NXEO
| – | – |
-4,874,144
| Closed | -$48.9M |
|
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Fir Tree Capital Management's Q2 2016 Portfolio in Review
As of Q2 2016, Fir Tree Capital Management held 69 positions worth $2.44B, down 7.5% from $2.64B the previous quarter. Its ten largest holdings account for 73% of the portfolio.
Fir Tree Capital Management withdrew a net $292M in Q2 2016, closing 10 positions and reducing 15 holdings. Its most notable exit was Nexeo Solutions, Inc. Common Stock, an estimated $48.9M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 20% of assets, down from 28% a quarter earlier, followed by Industrials and Technology.
Against the trend, Fir Tree Capital Management opened a new position in Microsoft worth $88.6M.
- Fir Tree Capital Management's largest Q2 2016 buy was Microsoft: 1,731,200 shares worth $88.6M.
- Fir Tree Capital Management added most to EMC CORPORATION in Q2 2016, an estimated $57.8M increase.
- Fir Tree Capital Management's biggest Q2 2016 reduction was HCA Healthcare, cutting an estimated $99.1M.
- Fir Tree Capital Management fully exited Nexeo Solutions, Inc. Common Stock in Q2 2016, selling an estimated $48.9M.
- Fir Tree Capital Management's ten largest holdings make up 73% of its $2.44B portfolio in Q2 2016.
- Fir Tree Capital Management opened 10 new positions and closed 10 in Q2 2016.
- Fir Tree Capital Management's portfolio value fell 7.5% quarter-over-quarter to $2.44B.
Based on Fir Tree Capital Management's 13F filing for Q2 2016, filed 15 Aug 2016.