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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
+19.6%
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
$2.06B
AUM Growth
+$77.9M
Cap. Flow
-$271M
Cap. Flow %
-13.16%
Top 10 Hldgs %
36.15%
Holding
224
New
110
Increased
9
Reduced
19
Closed
57

Top Buys

Rank Stock Value
1
ABBV icon
AbbVie
ABBV
+$60.4M
2
OUT icon
Outfront Media
OUT
+$38.5M
3
BSX icon
Boston Scientific
BSX
+$35.7M
4
SPR
Spirit AeroSystems
SPR
+$31.5M
5
LAMR icon
Lamar Advertising Co
LAMR
+$29.7M

Top Sells

Rank Stock Value
1
EIX icon
Edison International
EIX
+$131M
2
CPAY icon
Corpay
CPAY
+$81.3M
3
PSTH
Pershing Square Tontine Holdings, Ltd.
PSTH
+$79.7M
4
EXC icon
Exelon
EXC
+$57.9M
5
SLM icon
SLM Corp
SLM
+$56.8M

Sector Composition

Rank Sector Weight
1 Financials 14.37%
2 Communication Services 14.06%
3 Industrials 11%
4 Healthcare 10.77%
5 Technology 9.62%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
STWOU
201
DELISTED
ACON S2 Acquisition Corp Unit
STWOU
– –
-500,000
Closed -$5.01M
PTK.U
202
DELISTED
PTK Acquisition Corp. Units, each consisting of one share of Common Stock, and one Warrant to acquir
PTK.U
– –
-122,835
Closed -$1.25M
QELLU
203
DELISTED
Qell Acquisition Corp. Unit
QELLU
– –
-150,000
Closed -$1.52M
RTP.U
204
DELISTED
Reinvent Technology Partners Units, each consisting of one Class A ordinary share and one-fourth of
RTP.U
– –
-175,000
Closed -$2.01M
SVACU
205
DELISTED
Starboard Value Acquisition Corp. Unit
SVACU
– –
-2,990,000
Closed -$30.2M
FGNA.U
206
DELISTED
FG New America Acquisition Corp. Units, each consisting of one share of Class A common stock and one
FGNA.U
– –
-500,000
Closed -$5M
SBG.U
207
DELISTED
Sandbridge Acquisition Corporation Units, each consisting of one share of Class A Common Stock and o
SBG.U
– –
-400,000
Closed -$3.99M
ASPL.U
208
DELISTED
Aspirational Consumer Lifestyle Corp. Units, each consisting of one Class A ordinary share and one-t
ASPL.U
– –
-800,000
Closed -$8M
ALUS.WS
209
DELISTED
Alussa Energy Acquisition Corp Warrants
ALUS.WS
– –
-137,900
Closed -$90K
CLII.U
210
DELISTED
Climate Change Crisis Real Impact I Acquisition Corporation Units, each consisting of one share of C
CLII.U
– –
-250,000
Closed -$2.51M
HOLUU
211
DELISTED
Holicity Inc. Unit
HOLUU
– –
-750,000
Closed -$7.76M
FAII.U
212
DELISTED
Fortress Value Acquisition Corp. II Units, each consisting of one share of Class A common stock and
FAII.U
– –
-350,000
Closed -$3.6M
DFHTU
213
DELISTED
Deerfield Healthcare Technology Acquisitions Corp. Unit
DFHTU
– –
-37,989
Closed -$404K
JWS.WS
214
DELISTED
Jaws Acquisition Corp. Redeemable Warrants, each whole warrant exercisable for one Class A ordinary
JWS.WS
– –
-419,050
Closed -$888K
VSPRU
215
DELISTED
Vesper Healthcare Acquisition Corp. Unit
VSPRU
– –
-100,000
Closed -$1.03M
RPLA
216
DELISTED
Replay Acquisition Corp. Ordinary Shares
RPLA
– –
-319,901
Closed -$3.26M
CLA.U
217
DELISTED
Colonnade Acquisition Corp. Units, each consisting of one Class A ordinary share and one-half of one
CLA.U
– –
-500,000
Closed -$4.98M
PCPL.WS
218
DELISTED
CC Neuberger Principal Holdings I Warrants, each whole warrant exercisable for one Class A ordinary
PCPL.WS
– –
-525,000
Closed -$945K
GHIVW
219
DELISTED
Gores Holdings IV, Inc. Warrant
GHIVW
– –
-145,890
Closed -$242K
5 6 7 8
9

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Fir Tree Capital Management's Q4 2020 Portfolio in Review

As of Q4 2020, Fir Tree Capital Management held 224 positions worth $2.06B, up 3.9% from $1.98B the previous quarter. Its ten largest holdings account for 36% of the portfolio.

Fir Tree Capital Management withdrew a net $271M in Q4 2020, closing 57 positions and reducing 19 holdings. Its most notable exit was Edison International, an estimated $131M position sold in full.

By sector, the portfolio is most concentrated in Financials at 14% of assets, down from 15% a quarter earlier, followed by Communication Services and Industrials.

Against the trend, Fir Tree Capital Management opened a new position in AbbVie worth $67.3M.

  • Fir Tree Capital Management's largest Q4 2020 buy was AbbVie: 628,229 shares worth $67.3M.
  • Fir Tree Capital Management added most to Lamar Advertising Co in Q4 2020, an estimated $29.7M increase.
  • Fir Tree Capital Management's biggest Q4 2020 reduction was SLM Corp, cutting an estimated $56.8M.
  • Fir Tree Capital Management fully exited Edison International in Q4 2020, selling an estimated $131M.
  • Fir Tree Capital Management's ten largest holdings make up 36% of its $2.06B portfolio in Q4 2020.
  • Fir Tree Capital Management opened 110 new positions and closed 57 in Q4 2020.
  • Fir Tree Capital Management's portfolio value rose 3.9% quarter-over-quarter to $2.06B.

Based on Fir Tree Capital Management's 13F filing for Q4 2020, filed 16 Feb 2021.