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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
+4.76%
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
$605M
AUM Growth
-$352M
Cap. Flow
-$354M
Cap. Flow %
-58.45%
Top 10 Hldgs %
40.58%
Holding
238
New
18
Increased
14
Reduced
102
Closed
92

Top Buys

Rank Stock Value
1
CNNE icon
Cannae Holdings
CNNE
+$15.3M
2
M icon
Macy's
M
+$10.9M
3
NATL icon
NCR Atleos
NATL
+$10.3M
4
SIX
Six Flags Entertainment Corp.
SIX
+$4.97M
5
ANSCU
Agriculture & Natural Solutions Acquisition Corp Unit
ANSCU
+$4.04M

Top Sells

Rank Stock Value
1
PCG icon
PG&E
PCG
+$28.2M
2
VYX icon
NCR Voyix
VYX
+$22.3M
3
NFYS
Enphys Acquisition Corp.
NFYS
+$21.7M
4
AAC
Ares Acquisition Corporation
AAC
+$16.4M
5
APGB
Apollo Strategic Growth Capital II
APGB
+$15.8M

Sector Composition

Rank Sector Weight
1 Financials 41.66%
2 Consumer Discretionary 9.54%
3 Technology 8.5%
4 Industrials 7.32%
5 Healthcare 2.77%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JWSM
101
DELISTED
Jaws Mustang Acquisition Corp.
JWSM
$1.35M 0.22%
124,070
-503
-0.4% -$5.44K
QDRO
102
DELISTED
Quadro Acquisition One Corp. Class A Ordinary Shares
QDRO
$1.34M 0.22%
123,755
-216,475
-64% -$2.35M
APXI
103
DELISTED
APx Acquisition Corp. I Class A Ordinary Share
APXI
$1.31M 0.22%
117,400
-79,400
-40% -$877K
HSPO
104
DELISTED
Horizon Space Acquisition I Corp
HSPO
$1.3M 0.21%
120,966
-54,034
-31% -$574K
KVAC icon
105
Keen Vision Acquisition Corp
KVAC
$64.7M
$1.29M 0.21%
124,530
-470
-0.4% -$4.83K
KYCH
106
DELISTED
Keyarch Acquisition Corporation Ordinary Shares
KYCH
$1.29M 0.21%
118,300
– –
ESHA
107
DELISTED
ESH Acquisition Corp
ESHA
$1.28M 0.21%
125,000
– –
ATMC
108
DELISTED
AlphaTime Acquisition Corp
ATMC
$1.28M 0.21%
118,966
-1,534
-1% -$16.4K
TWOA
109
DELISTED
two
TWOA
$1.25M 0.21%
118,046
-304,501
-72% -$3.22M
NSTB
110
DELISTED
Northern Star Investment Corp. II
NSTB
$1.24M 0.2%
120,391
– –
BCSA
111
DELISTED
Blockchain Coinvestors Acquisition Corp. I Class A Ordinary Shares
BCSA
$1.22M 0.2%
111,750
-238,250
-68% -$2.59M
GBBK
112
DELISTED
Global Blockchain Acquisition Corp. Common Stock
GBBK
$1.2M 0.2%
114,210
-5,790
-5% -$61K
CMCA
113
DELISTED
Capitalworks Emerging Markets Acquisition Corp Class A Ordinary Shares
CMCA
$1.16M 0.19%
105,899
-294,101
-74% -$3.18M
TGAA
114
DELISTED
Target Global Acquisition I Corp. Class A Ordinary Share
TGAA
$1.1M 0.18%
+100,000
New +$1.1M
PPYA
115
DELISTED
Papaya Growth Opportunity Corp. I Class A Common Stock
PPYA
$1.08M 0.18%
100,000
– –
CDAQ
116
DELISTED
Compass Digital Acquisition Corp. Class A Ordinary Shares
CDAQ
$1.06M 0.17%
+100,000
New +$1.05M
FORL
117
DELISTED
Four Leaf Acquisition Corp
FORL
$1.03M 0.17%
98,288
-1,712
-2% -$18K
IGTA
118
DELISTED
Inception Growth Acquisition Limited Common Stock
IGTA
$1.02M 0.17%
95,825
-344,175
-78% -$3.66M
SPKL
119
Spark I Acquisition Corp
SPKL
$101M
$1.01M 0.17%
+100,000
New +$1.01M
CLBR.U
120
DELISTED
Colombier Acquisition Corp. II Units, each consisting of one Class A ordinary share and one-third of one redeemable warrant
CLBR.U
$1.01M 0.17%
+100,000
New +$1.01M
OAKU
121
DELISTED
Oak Woods Acquisition Corp
OAKU
$890K 0.15%
84,501
-499
-0.6% -$5.23K
TMTC
122
DELISTED
TMT Acquisition Corp Ordinary Shares
TMTC
$861K 0.14%
81,843
-3,157
-4% -$33.1K
BOWN
123
DELISTED
Bowen Acquisition Corp
BOWN
$841K 0.14%
81,473
-8,527
-9% -$87.5K
RCFA
124
DELISTED
Perception Capital Corp. IV
RCFA
$791K 0.13%
72,000
-404,676
-85% -$4.44M
IVCB
125
DELISTED
Investcorp Europe Acquisition Corp I Class A Ordinary Shares
IVCB
$730K 0.12%
66,272
-85,336
-56% -$936K
3 4
5
6 7

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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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Fir Tree Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Fir Tree Capital Management held 238 positions worth $605M, down 37% from $957M the previous quarter. Its ten largest holdings account for 41% of the portfolio.

Fir Tree Capital Management withdrew a net $354M in Q4 2023, closing 92 positions and reducing 102 holdings. Its most notable exit was PG&E, an estimated $28.2M position sold in full.

By sector, the portfolio is most concentrated in Financials at 42% of assets, down from 56% a quarter earlier, followed by Consumer Discretionary and Technology.

Against the trend, Fir Tree Capital Management opened a new position in Cannae Holdings worth $16.4M.

  • Fir Tree Capital Management's largest Q4 2023 buy was Cannae Holdings: 840,000 shares worth $16.4M.
  • Fir Tree Capital Management added most to Goldenstone Acquisition Limited Common Stock in Q4 2023, an estimated $1.88M increase.
  • Fir Tree Capital Management's biggest Q4 2023 reduction was Enphys Acquisition Corp., cutting an estimated $21.7M.
  • Fir Tree Capital Management fully exited PG&E in Q4 2023, selling an estimated $28.2M.
  • Fir Tree Capital Management's ten largest holdings make up 41% of its $605M portfolio in Q4 2023.
  • Fir Tree Capital Management opened 18 new positions and closed 92 in Q4 2023.
  • Fir Tree Capital Management's portfolio value fell 37% quarter-over-quarter to $605M.

Based on Fir Tree Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.