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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
+7.55%
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
$1.01B
AUM Growth
-$12.2M
Cap. Flow
-$54M
Cap. Flow %
-5.33%
Top 10 Hldgs %
66.99%
Holding
68
New
6
Increased
8
Reduced
13
Closed
16

Top Buys

Rank Stock Value
1
SLM icon
SLM Corp
SLM
+$92.1M
2
VER
VEREIT, Inc.
VER
+$85.7M
3
JNJ icon
Johnson & Johnson
JNJ
+$62.1M
4
LHX icon
L3Harris
LHX
+$30.5M
5
LAUR icon
Laureate Education
LAUR
+$25M

Top Sells

Rank Stock Value
1
FE icon
FirstEnergy
FE
+$134M
2
AGN
Allergan plc
AGN
+$51.9M
3
MHK icon
Mohawk Industries
MHK
+$51.7M
4
AABA
Altaba Inc
AABA
+$41.1M
5
ROAN
Roan Resources, Inc.
ROAN
+$18.1M

Sector Composition

Rank Sector Weight
1 Healthcare 17.58%
2 Technology 14.8%
3 Industrials 12.89%
4 Financials 9.32%
5 Consumer Staples 8.3%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LCAHW
51
DELISTED
Landcadia Holdings II, Inc. Warrant
LCAHW
$113K 0.01%
166,666
– –
LHC.WS
52
DELISTED
Leo Holdings Corp. Warrants, each whole warrant exercisable for one Class A Ordinary Share at an exe
LHC.WS
$99K 0.01%
150,000
– –
ACEL icon
53
Accel Entertainment
ACEL
$1.01B
– –
-1,354,891
Closed -$13.9M
AHCO icon
54
AdaptHealth
AHCO
$1.53B
– –
-499,500
Closed -$5.08M
FE icon
55
FirstEnergy
FE
$28.7B
– –
-2,779,809
Closed -$134M
HUM icon
56
Humana
HUM
$46.7B
– –
-31,463
Closed -$8.04M
MHK icon
57
Mohawk Industries
MHK
$7.14B
– –
-416,670
Closed -$51.7M
SONY icon
58
Sony
SONY
$133B
– –
-531,770
Closed -$6.29M
UNH icon
59
UnitedHealth
UNH
$389B
– –
-39,202
Closed -$8.52M
THWWW
60
DELISTED
Target Hospitality Corp. Warrant expiring 3/15/2024
THWWW
– –
-272,474
Closed -$286K
NFH
61
DELISTED
New Frontier Health Corporation Ordinary Shares
NFH
– –
-990,026
Closed -$10.1M
CPAAU
62
DELISTED
Conyers Park II Acquisition Corp. Unit
CPAAU
– –
-150,000
Closed -$1.59M
MOSC.WS
63
DELISTED
Mosaic Acquisition Corp. Warrants, each exercisable for one Class A Common Stock at an exercise pric
MOSC.WS
– –
-546,086
Closed -$628K
PVT
64
DELISTED
Pivotal Acquisition Corp.
PVT
– –
-200,000
Closed -$2.04M
RWGE.WS
65
DELISTED
Regalwood Global Energy Ltd. Warrants, each whole warrant exercisable for one Class A ordinary share
RWGE.WS
– –
-491,987
Closed -$295K
RWGE
66
DELISTED
Regalwood Global Energy Ltd. Class A Ordinary Shares
RWGE
– –
-1,475,962
Closed -$15.2M
ROAN
67
DELISTED
Roan Resources, Inc.
ROAN
– –
-14,712,070
Closed -$18.1M
AABA
68
DELISTED
Altaba Inc
AABA
– –
-2,107,595
Closed -$41.1M
1 2
3

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Fir Tree Capital Management's Q4 2019 Portfolio in Review

As of Q4 2019, Fir Tree Capital Management held 68 positions worth $1.01B, down 1.2% from $1.03B the previous quarter. Its ten largest holdings account for 67% of the portfolio.

Fir Tree Capital Management withdrew a net $54M in Q4 2019, closing 16 positions and reducing 13 holdings. Its most notable exit was FirstEnergy, an estimated $134M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 18% of assets, up from 15% a quarter earlier, followed by Technology and Industrials.

Against the trend, Fir Tree Capital Management opened a new position in SLM Corp worth $94.5M.

  • Fir Tree Capital Management's largest Q4 2019 buy was SLM Corp: 10,600,803 shares worth $94.5M.
  • Fir Tree Capital Management added most to Laureate Education in Q4 2019, an estimated $25M increase.
  • Fir Tree Capital Management's biggest Q4 2019 reduction was Allergan plc, cutting an estimated $51.9M.
  • Fir Tree Capital Management fully exited FirstEnergy in Q4 2019, selling an estimated $134M.
  • Fir Tree Capital Management's ten largest holdings make up 67% of its $1.01B portfolio in Q4 2019.
  • Fir Tree Capital Management opened 6 new positions and closed 16 in Q4 2019.
  • Fir Tree Capital Management's portfolio value fell 1.2% quarter-over-quarter to $1.01B.

Based on Fir Tree Capital Management's 13F filing for Q4 2019, filed 30 Jan 2020.