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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
+2.97%
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
$3.71B
AUM Growth
+$203M
Cap. Flow
+$116M
Cap. Flow %
3.11%
Top 10 Hldgs %
55.58%
Holding
89
New
14
Increased
9
Reduced
10
Closed
17

Top Buys

Rank Stock Value
1
PX
Praxair Inc
PX
+$187M
2
MGM icon
MGM Resorts International
MGM
+$69.8M
3
BOBE
Bob Evans Farms, Inc.
BOBE
+$65.2M
4
CPN
Calpine Corporation
CPN
+$58.6M
5
AET
Aetna Inc
AET
+$58.4M

Top Sells

Rank Stock Value
1
AABA
Altaba Inc
AABA
+$75.6M
2
HRI icon
Herc Holdings
HRI
+$58M
3
EFX icon
Equifax
EFX
+$51M
4
SC
SANTANDER CONSUMER USA HOLDINGS INC
SC
+$40M
5
WSC icon
WillScot Mobile Mini Holdings
WSC
+$35.1M

Sector Composition

Rank Sector Weight
1 Technology 19.27%
2 Consumer Discretionary 18.77%
3 Financials 14.67%
4 Energy 11.7%
5 Communication Services 6.37%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FG.WS
51
DELISTED
FGL Holdings Warrants exercisable for one Ordinary Share at a price of $11.50 per share
FG.WS
$4.28M 0.12%
+2,762,212
New +$3.97M
GSHTW
52
DELISTED
Gores Holdings II, Inc. Warrants
GSHTW
$1.47M 0.04%
733,333
– –
TPGE.WS
53
DELISTED
TPG Pace Energy Holdings Corp.
TPGE.WS
$1.17M 0.03%
866,666
– –
LCAHW
54
DELISTED
Landcadia Holdings, Inc. Warrant
LCAHW
$1.05M 0.03%
1,500,000
– –
SCACW
55
DELISTED
Saban Capital Acquisition Corp. Warrants
SCACW
$1.01M 0.03%
800,000
– –
VEACW
56
DELISTED
Vantage Energy Acquisition Corp.
VEACW
$1M 0.03%
833,332
– –
FSACW
57
DELISTED
Federal Street Acquisition Corp. Warrant
FSACW
$945K 0.03%
900,000
– –
IPOA.WS
58
DELISTED
Social Capital Hedosophia Holdings Corp. Warrants, each whole warrant exercisable for one Class A Or
IPOA.WS
$875K 0.02%
500,000
– –
GTYHW
59
DELISTED
GTY Technology Holdings, Inc. Warrants
GTYHW
$855K 0.02%
633,333
– –
SRUNW
60
DELISTED
Silver Run Acquisition Corporation II
SRUNW
$848K 0.02%
572,899
-493,767
-46% -$784K
MPACW
61
DELISTED
Matlin & Partners Acquisition Corporation
MPACW
$798K 0.02%
1,900,000
– –
TPGH.WS
62
DELISTED
TPG Pace Holdings Corp. Warrants, each exercisable for one Class A Ordinary Share at an exercise pri
TPGH.WS
$723K 0.02%
466,666
– –
KAACW
63
DELISTED
Kayne Anderson Acquisition Corp.
KAACW
$708K 0.02%
833,333
– –
CIC.WS
64
DELISTED
Capitol Investment Corp. IV
CIC.WS
$660K 0.02%
+600,000
New +$687K
HCAC.WS
65
DELISTED
Hennessy Capital Acquisition Corp. III
HCAC.WS
$634K 0.02%
750,000
– –
AHPAW
66
DELISTED
Avista Healthcare Public Acquisition Corp. Warrants
AHPAW
$504K 0.01%
1,800,000
– –
WSCWW
67
DELISTED
WillScot Corporation Warrant
WSCWW
$451K 0.01%
+313,390
New +$388K
CNACR
68
DELISTED
Constellation Alpha Capital Corp. Right
CNACR
$450K 0.01%
1,249,999
– –
ELECW
69
DELISTED
Electrum Special Acquisition Corporation
ELECW
$446K 0.01%
1,100,000
– –
CNACW
70
DELISTED
Constellation Alpha Capital Corp. Warrant
CNACW
$350K 0.01%
1,249,999
– –
ESTRW
71
DELISTED
Estre Ambiental, Inc
ESTRW
$278K 0.01%
+385,800
New +$303K
NEXTW
72
DELISTED
NextDecade Corporation Warrant
NEXTW
$207K 0.01%
344,711
-286,741
-45% -$229K
EFX icon
73
Equifax
EFX
$22B
– –
-481,000
Closed -$51M
HRI icon
74
Herc Holdings
HRI
$4.95B
– –
-1,180,241
Closed -$58M
HYG icon
75
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
– –
-3,400,000
Closed -$302M
1 2
3
4

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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 Q4 2017 Portfolio in Review

As of Q4 2017, Fir Tree Capital Management held 89 positions worth $3.71B, up 5.8% from $3.51B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Fir Tree Capital Management deployed $116M of net new capital in Q4 2017, opening 14 new positions and adding to 9 existing holdings. Its largest new stake was Praxair Inc: 1,262,697 shares worth $195M.

By sector, the portfolio is most concentrated in Technology at 19% of assets, down from 20% a quarter earlier, followed by Consumer Discretionary and Financials.

On the sell side, the largest reduction was Altaba Inc, an estimated $75.6M trimmed.

  • Fir Tree Capital Management's largest Q4 2017 buy was Praxair Inc: 1,262,697 shares worth $195M.
  • Fir Tree Capital Management added most to MGM Resorts International in Q4 2017, an estimated $69.8M increase.
  • Fir Tree Capital Management's biggest Q4 2017 reduction was Altaba Inc, cutting an estimated $75.6M.
  • Fir Tree Capital Management fully exited Herc Holdings in Q4 2017, selling an estimated $58M.
  • Fir Tree Capital Management's ten largest holdings make up 56% of its $3.71B portfolio in Q4 2017.
  • Fir Tree Capital Management opened 14 new positions and closed 17 in Q4 2017.
  • Fir Tree Capital Management's portfolio value rose 5.8% quarter-over-quarter to $3.71B.

Based on Fir Tree Capital Management's 13F filing for Q4 2017, filed 14 Feb 2018.