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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
+3.42%
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
$2.48B
AUM Growth
+$143M
Cap. Flow
+$110M
Cap. Flow %
4.42%
Top 10 Hldgs %
62.23%
Holding
81
New
22
Increased
4
Reduced
13
Closed
19

Top Buys

Rank Stock Value
1
RAI
Reynolds American Inc
RAI
+$228M
2
NXPI icon
NXP Semiconductors
NXPI
+$133M
3
AMPY icon
Amplify Energy
AMPY
+$127M
4
EXPE icon
Expedia Group
EXPE
+$102M
5
SD icon
SandRidge Energy
SD
+$41.2M

Top Sells

Rank Stock Value
1
IPG
Interpublic Group of Companies
IPG
+$131M
2
AAP icon
Advance Auto Parts
AAP
+$95.2M
3
CDK
CDK Global, Inc.
CDK
+$83.3M
4
TIVO
Tivo Inc
TIVO
+$81.9M
5
LILAK icon
Liberty Latin America Class C
LILAK
+$81.2M

Sector Composition

Rank Sector Weight
1 Energy 17.78%
2 Technology 14.63%
3 Consumer Staples 14.25%
4 Industrials 13.46%
5 Healthcare 9.6%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
QPACW
51
DELISTED
Quinpario Acquisition Corp. 2 Warrant
QPACW
$500K 0.02%
2,500,000
– –
BLVDW
52
DELISTED
Boulevard Acquisition Corp. II Warrant
BLVDW
$451K 0.02%
850,000
– –
CLACW
53
DELISTED
Capitol Acquisition Corp. III Warrants
CLACW
$439K 0.02%
500,000
– –
HRMNW
54
DELISTED
Harmony Merger Corp. Warrant
HRMNW
$415K 0.02%
+1,184,920
New +$437K
NXEOW
55
DELISTED
Nexeo Solutions, Inc. Warrant
NXEOW
$317K 0.01%
452,333
-157,514
-26% -$91.3K
ELECW
56
DELISTED
Electrum Special Acquisition Corporation
ELECW
$308K 0.01%
1,100,000
– –
GPACW
57
DELISTED
Global Partner Acquisition Corp
GPACW
$245K 0.01%
700,000
– –
HCACW
58
DELISTED
Hennessy Capital Acquisition Corp. II
HCACW
$224K 0.01%
264,000
-50,000
-16% -$16.4K
AXARW
59
DELISTED
Axar Acquisition Corp. Warrants
AXARW
$60K ﹤0.01%
+793,424
New +$55.6K
AGRO icon
60
Adecoagro
AGRO
$1.45B
– –
-425,000
Closed -$4.85M
OSG
61
Octave Specialty Group
OSG
$261M
– –
-21,689
Closed -$399K
IPG
62
DELISTED
Interpublic Group of Companies
IPG
– –
-5,871,286
Closed -$131M
LILAK icon
63
Liberty Latin America Class C
LILAK
$1.65B
– –
-3,381,284
Closed -$81.2M
REI icon
64
Ring Energy
REI
$287M
– –
-118,784
Closed -$1.3M
TWNK
65
DELISTED
Hostess Brands, Inc. Class A Common Stock
TWNK
– –
-275,238
Closed -$2.97M
HTZ
66
DELISTED
Hertz Global Holdings, Inc.
HTZ
– –
-1,761,777
Closed -$61.5M
AXAS
67
DELISTED
Abraxas Petroleum Corp
AXAS
– –
-108,350
Closed -$3.66M
TIVO
68
DELISTED
Tivo Inc
TIVO
– –
-7,243,000
Closed -$81.9M
SCACU
69
DELISTED
Saban Capital Acquisition Corp. Units
SCACU
– –
-1,600,000
Closed -$16.1M
EACQW
70
DELISTED
Easterly Acquisition Corp.
EACQW
– –
-210,263
Closed -$126K
TRTL
71
DELISTED
Terrapin 3 Acquisition Corporation Class A
TRTL
– –
-1,831,500
Closed -$18.2M
TRTLW
72
DELISTED
Terrapin 3 Acquisition Corporation
TRTLW
– –
-1,753,063
Closed -$317K
GRSHW
73
DELISTED
Gores Holdings, Inc. Warrants
GRSHW
– –
-883,552
Closed -$1.06M
AUMA
74
DELISTED
AR CAPITAL ACQUISITION CORP COMMON STOCK
AUMA
– –
-2,600,000
Closed -$25.9M
1 2
3

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Fir Tree Capital Management's Q4 2016 Portfolio in Review

As of Q4 2016, Fir Tree Capital Management held 81 positions worth $2.48B, up 6.1% from $2.34B the previous quarter. Its ten largest holdings account for 62% of the portfolio.

Fir Tree Capital Management deployed $110M of net new capital in Q4 2016, opening 22 new positions and adding to 4 existing holdings. Its largest new stake was Reynolds American Inc: 4,305,955 shares worth $241M.

By sector, the portfolio is most concentrated in Energy at 18% of assets, up from 11% a quarter earlier, followed by Technology and Consumer Staples.

On the sell side, the largest reduction was Advance Auto Parts, an estimated $95.2M trimmed.

  • Fir Tree Capital Management's largest Q4 2016 buy was Reynolds American Inc: 4,305,955 shares worth $241M.
  • Fir Tree Capital Management added most to Hewlett Packard in Q4 2016, an estimated $36.1M increase.
  • Fir Tree Capital Management's biggest Q4 2016 reduction was Advance Auto Parts, cutting an estimated $95.2M.
  • Fir Tree Capital Management fully exited Interpublic Group of Companies in Q4 2016, selling an estimated $131M.
  • Fir Tree Capital Management's ten largest holdings make up 62% of its $2.48B portfolio in Q4 2016.
  • Fir Tree Capital Management opened 22 new positions and closed 19 in Q4 2016.
  • Fir Tree Capital Management's portfolio value rose 6.1% quarter-over-quarter to $2.48B.

Based on Fir Tree Capital Management's 13F filing for Q4 2016, filed 14 Feb 2017.