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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
-0.93%
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
$1.03B
AUM Growth
+$26.6M
Cap. Flow
+$102M
Cap. Flow %
9.98%
Top 10 Hldgs %
61.8%
Holding
79
New
20
Increased
4
Reduced
17
Closed
16

Top Buys

Rank Stock Value
1
AABA
Altaba Inc
AABA
+$139M
2
CTXS
Citrix Systems Inc
CTXS
+$59M
3
AGN
Allergan plc
AGN
+$46.9M
4
RTN
Raytheon Company
RTN
+$46.7M
5
AMPY icon
Amplify Energy
AMPY
+$35.2M

Top Sells

Rank Stock Value
1
C icon
Citigroup
C
+$95.3M
2
STAY
Extended Stay America, Inc. Paired Share Unit
STAY
+$49M
3
CNC icon
Centene
CNC
+$26.6M
4
ACEL icon
Accel Entertainment
ACEL
+$21M
5
ACHC icon
Acadia Healthcare
ACHC
+$20.8M

Sector Composition

Rank Sector Weight
1 Technology 18.09%
2 Healthcare 15.12%
3 Utilities 13.07%
4 Consumer Discretionary 12.2%
5 Industrials 9.38%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MOSC.WS
51
DELISTED
Mosaic Acquisition Corp. Warrants, each exercisable for one Class A Common Stock at an exercise pric
MOSC.WS
$628K 0.06%
546,086
-43,900
-7% -$48.9K
CCH.WS
52
DELISTED
Collier Creek Holdings Warrants, each whole warrant exercisable for one Class A ordinary share at an
CCH.WS
$477K 0.05%
366,666
– –
GRSHW
53
DELISTED
Gores Holdings III, Inc. Warrants
GRSHW
$418K 0.04%
278,942
-837
-0.3% -$1.12K
SPAQ.WS
54
DELISTED
Spartan Energy Acquisition Corp. Warrants, each whole warrant exercisable for one Class A common sto
SPAQ.WS
$346K 0.03%
577,341
-4,120
-0.7% -$3.08K
TRNE.WS
55
DELISTED
Trine Acquisition Corp. Redeemable Warrants, each whole warrant exercisable for one share of Class A
TRNE.WS
$296K 0.03%
375,000
– –
RWGE.WS
56
DELISTED
Regalwood Global Energy Ltd. Warrants, each whole warrant exercisable for one Class A ordinary share
RWGE.WS
$295K 0.03%
491,987
-6,713
-1% -$4.97K
THWWW
57
DELISTED
Target Hospitality Corp. Warrant expiring 3/15/2024
THWWW
$286K 0.03%
272,474
-10,657
-4% -$14.2K
GMHIW
58
DELISTED
Gores Metropoulos, Inc. Warrant
GMHIW
$280K 0.03%
200,000
– –
DEACW
59
DELISTED
Diamond Eagle Acquisition Corp. Warrant
DEACW
$250K 0.02%
+250,000
New +$217K
OAC.WS
60
DELISTED
Oaktree Acquisition Corp. Warrants, each whole warrant exercisable for one Class A Ordinary Share at
OAC.WS
$142K 0.01%
+166,666
New +$137K
LCAHW
61
DELISTED
Landcadia Holdings II, Inc. Warrant
LCAHW
$123K 0.01%
166,666
– –
LHC.WS
62
DELISTED
Leo Holdings Corp. Warrants, each whole warrant exercisable for one Class A Ordinary Share at an exe
LHC.WS
$111K 0.01%
150,000
-39,480
-21% -$34.4K
ACHC icon
63
Acadia Healthcare
ACHC
$2.52B
– –
-594,500
Closed -$20.8M
C icon
64
CALL
Citigroup
C
$213B
– –
-140,000
Closed -$9.8M
C icon
65
Citigroup
C
$213B
– –
-1,361,293
Closed -$95.3M
CTOS icon
66
Custom Truck One Source
CTOS
$2.21B
– –
-1,569,372
Closed -$16.1M
NAVI icon
67
Navient
NAVI
$819M
– –
-770,806
Closed -$10.5M
SPCE icon
68
Virgin Galactic
SPCE
$315M
– –
-75,000
Closed -$15.7M
STAY
69
DELISTED
Extended Stay America, Inc. Paired Share Unit
STAY
– –
-2,898,810
Closed -$49M
DEACU
70
DELISTED
Diamond Eagle Acquisition Corp. Unit
DEACU
– –
-750,000
Closed -$7.54M
PVT.WS
71
DELISTED
Pivotal Acquisition Corp. Redeemable Warrants, exercisable for shares of Class A Common Stock at an
PVT.WS
– –
-200,000
Closed -$268K
NFC.WS
72
DELISTED
New Frontier Corporation Warrants, each whole warrant exercisable for one Class A ordinary share at
NFC.WS
– –
-495,013
Closed -$347K
TPGH.WS
73
DELISTED
TPG Pace Holdings Corp. Warrants, each exercisable for one Class A Ordinary Share at an exercise pri
TPGH.WS
– –
-366,666
Closed -$614K
DFBHW
74
DELISTED
DFB Healthcare Acquisitions Corp. Warrant
DFBHW
– –
-166,666
Closed -$207K
IPOA.WS
75
DELISTED
Social Capital Hedosophia Holdings Corp. Warrants, each whole warrant exercisable for one Class A Or
IPOA.WS
– –
-500,000
Closed -$670K
1 2
3
4

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Fir Tree Capital Management's Q3 2019 Portfolio in Review

As of Q3 2019, Fir Tree Capital Management held 79 positions worth $1.03B, up 2.7% from $999M the previous quarter. Its ten largest holdings account for 62% of the portfolio.

Fir Tree Capital Management deployed $102M of net new capital in Q3 2019, opening 20 new positions and adding to 4 existing holdings. Its largest new stake was Altaba Inc: 2,107,595 shares worth $41.1M.

By sector, the portfolio is most concentrated in Technology at 18% of assets, up from 9.5% a quarter earlier, followed by Healthcare and Utilities.

On the sell side, the largest reduction was Centene, an estimated $26.6M trimmed.

  • Fir Tree Capital Management's largest Q3 2019 buy was Altaba Inc: 2,107,595 shares worth $41.1M.
  • Fir Tree Capital Management added most to Allergan plc in Q3 2019, an estimated $46.9M increase.
  • Fir Tree Capital Management's biggest Q3 2019 reduction was Centene, cutting an estimated $26.6M.
  • Fir Tree Capital Management fully exited Citigroup in Q3 2019, selling an estimated $95.3M.
  • Fir Tree Capital Management's ten largest holdings make up 62% of its $1.03B portfolio in Q3 2019.
  • Fir Tree Capital Management opened 20 new positions and closed 16 in Q3 2019.
  • Fir Tree Capital Management's portfolio value rose 2.7% quarter-over-quarter to $1.03B.

Based on Fir Tree Capital Management's 13F filing for Q3 2019, filed 14 Nov 2019.