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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
-2.27%
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
$1.86B
AUM Growth
-$384M
Cap. Flow
-$273M
Cap. Flow %
-14.67%
Top 10 Hldgs %
62.81%
Holding
87
New
18
Increased
5
Reduced
16
Closed
15

Top Buys

Rank Stock Value
1
C icon
Citigroup
C
+$148M
2
NXPI icon
NXP Semiconductors
NXPI
+$72.7M
3
GE icon
GE Aerospace
GE
+$51.1M
4
GS icon
Goldman Sachs
GS
+$35M
5
CHAP
Chaparral Energy, Inc.
CHAP
+$27M

Top Sells

Rank Stock Value
1
AET
Aetna Inc
AET
+$190M
2
SM icon
SM Energy
SM
+$112M
3
MGM icon
MGM Resorts International
MGM
+$84M
4
PX
Praxair Inc
PX
+$62.9M
5
GOOG icon
Alphabet (Google) Class C
GOOG
+$59.7M

Sector Composition

Rank Sector Weight
1 Technology 27.83%
2 Financials 16.16%
3 Utilities 12.19%
4 Energy 11.52%
5 Consumer Discretionary 10.64%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FSACW
51
DELISTED
Federal Street Acquisition Corp. Warrant
FSACW
$1.34M 0.07%
891,006
-8,994
-1% -$13.8K
GSHTW
52
DELISTED
Gores Holdings II, Inc. Warrants
GSHTW
$1.32M 0.07%
615,953
-117,380
-16% -$227K
MPACW
53
DELISTED
Matlin & Partners Acquisition Corporation
MPACW
$1.27M 0.07%
1,690,700
-209,300
-11% -$158K
FPAC.WS
54
DELISTED
Far Point Acquisition Corporation Warrants, exercisable for one share of Class A Common Stock for $1
FPAC.WS
$1.16M 0.06%
700,000
– –
KAACW
55
DELISTED
Kayne Anderson Acquisition Corp.
KAACW
$1.09M 0.06%
783,533
-49,800
-6% -$73.6K
HCAC.WS
56
DELISTED
Hennessy Capital Acquisition Corp. III
HCAC.WS
$1.06M 0.06%
709,529
-40,471
-5% -$60.1K
GSAH.WS
57
DELISTED
GS Acquisition Holdings Corp Warrants, each whole warrant exercisable for one share of Class A Commo
GSAH.WS
$935K 0.05%
+566,666
New +$1.03M
CIC.WS
58
DELISTED
Capitol Investment Corp. IV
CIC.WS
$894K 0.05%
600,000
– –
SCACW
59
DELISTED
Saban Capital Acquisition Corp. Warrants
SCACW
$880K 0.05%
800,000
– –
TPGH.WS
60
DELISTED
TPG Pace Holdings Corp. Warrants, each exercisable for one Class A Ordinary Share at an exercise pri
TPGH.WS
$817K 0.04%
466,666
– –
MOSC.WS
61
DELISTED
Mosaic Acquisition Corp. Warrants, each exercisable for one Class A Common Stock at an exercise pric
MOSC.WS
$780K 0.04%
+600,000
New +$776K
RWGE.WS
62
DELISTED
Regalwood Global Energy Ltd. Warrants, each whole warrant exercisable for one Class A ordinary share
RWGE.WS
$735K 0.04%
500,000
– –
NFC.WS
63
DELISTED
New Frontier Corporation Warrants, each whole warrant exercisable for one Class A ordinary share at
NFC.WS
$590K 0.03%
+500,000
New +$590K
IPOA.WS
64
DELISTED
Social Capital Hedosophia Holdings Corp. Warrants, each whole warrant exercisable for one Class A Or
IPOA.WS
$535K 0.03%
500,000
– –
CNACR
65
DELISTED
Constellation Alpha Capital Corp. Right
CNACR
$512K 0.03%
1,249,999
– –
EAGLW
66
DELISTED
Platinum Eagle Acquisition Corp. Warrant
EAGLW
$450K 0.02%
333,333
– –
AHPAW
67
DELISTED
Avista Healthcare Public Acquisition Corp. Warrants
AHPAW
$360K 0.02%
1,800,000
– –
LCAHW
68
DELISTED
Landcadia Holdings, Inc. Warrant
LCAHW
$316K 0.02%
265,500
-310,000
-54% -$267K
CNACW
69
DELISTED
Constellation Alpha Capital Corp. Warrant
CNACW
$275K 0.01%
1,249,999
– –
DFBHW
70
DELISTED
DFB Healthcare Acquisitions Corp. Warrant
DFBHW
$255K 0.01%
+166,666
New +$245K
MGY.WS
71
DELISTED
Magnolia Oil & Gas Corporation
MGY.WS
$229K 0.01%
+48,800
New +$190K
ESTRW
72
DELISTED
Estre Ambiental, Inc
ESTRW
$109K 0.01%
364,482
– –
AVGO icon
73
CALL
Broadcom
AVGO
$1.81T
– –
-700,000
Closed -$17M
MGM icon
74
MGM Resorts International
MGM
$11.8B
– –
-2,891,931
Closed -$84M
MGY icon
75
Magnolia Oil & Gas
MGY
$5.55B
– –
-4,086,364
Closed -$44.4M
1 2
3
4

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Fir Tree Capital Management's Q3 2018 Portfolio in Review

As of Q3 2018, Fir Tree Capital Management held 87 positions worth $1.86B, down 17% from $2.24B the previous quarter. Its ten largest holdings account for 63% of the portfolio.

Fir Tree Capital Management withdrew a net $273M in Q3 2018, closing 15 positions and reducing 16 holdings. Its most notable exit was Aetna Inc, an estimated $190M position sold in full.

By sector, the portfolio is most concentrated in Technology at 28% of assets, up from 22% a quarter earlier, followed by Financials and Utilities.

Against the trend, Fir Tree Capital Management opened a new position in Citigroup worth $150M.

  • Fir Tree Capital Management's largest Q3 2018 buy was Citigroup: 2,095,155 shares worth $150M.
  • Fir Tree Capital Management added most to NXP Semiconductors in Q3 2018, an estimated $72.7M increase.
  • Fir Tree Capital Management's biggest Q3 2018 reduction was SM Energy, cutting an estimated $112M.
  • Fir Tree Capital Management fully exited Aetna Inc in Q3 2018, selling an estimated $190M.
  • Fir Tree Capital Management's ten largest holdings make up 63% of its $1.86B portfolio in Q3 2018.
  • Fir Tree Capital Management opened 18 new positions and closed 15 in Q3 2018.
  • Fir Tree Capital Management's portfolio value fell 17% quarter-over-quarter to $1.86B.

Based on Fir Tree Capital Management's 13F filing for Q3 2018, filed 14 Nov 2018.