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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
QFTA
201
DELISTED
Quantum FinTech Acquisition Corporation
QFTA
– –
-227,245
Closed -$2.42M
DISA
202
DELISTED
Disruptive Acquisition Corporation I Class A Ordinary Shares
DISA
– –
-22,508
Closed -$240K
ACRO
203
DELISTED
Acropolis Infrastructure Acquisition Corp
ACRO
– –
-326,488
Closed -$3.36M
NETC
204
DELISTED
Nabors Energy Transition Corp.
NETC
– –
-911,215
Closed -$9.9M
FRXB
205
DELISTED
Forest Road Acquisition Corp. II
FRXB
– –
-440,000
Closed -$4.55M
BRD
206
DELISTED
Beard Energy Transition Acquisition Corp.
BRD
– –
-697,961
Closed -$7.5M
MOBV
207
DELISTED
Mobiv Acquisition Corp Class A Common Stock
MOBV
– –
-200,000
Closed -$2.12M
MBAC
208
DELISTED
M3-Brigade Acquisition II Corp.
MBAC
– –
-426,653
Closed -$4.44M
CFIV
209
DELISTED
CF Acquisition Corp. IV Class A common stock
CFIV
– –
-500,000
Closed -$5.34M
LIVB
210
DELISTED
LIV Capital Acquisition Corp. II Class A Ordinary Shares
LIVB
– –
-500,000
Closed -$5.42M
KNSW
211
DELISTED
KnightSwan Acquisition Corporation
KNSW
– –
-400,000
Closed -$4.21M
SUAC
212
DELISTED
ShoulderUp Technology Acquisition Corp.
SUAC
– –
-400,000
Closed -$4.22M
SGII
213
DELISTED
Seaport Global Acquisition II Corp. Class A Common Stock
SGII
– –
-300,000
Closed -$3.21M
LOCC
214
DELISTED
Live Oak Crestview Climate Acquisition Corp.
LOCC
– –
-276,010
Closed -$2.85M
APGB
215
DELISTED
Apollo Strategic Growth Capital II
APGB
– –
-1,500,000
Closed -$15.8M
MTRY
216
DELISTED
Monterey Innovation Acquisition Corp. Common Stock
MTRY
– –
-195,346
Closed -$2.19M
LHC
217
DELISTED
Leo Holdings Corp. II
LHC
– –
-292,267
Closed -$3.23M
SHUA
218
DELISTED
SHUAA Partners Acquisition Corp I Class A Ordinary Share
SHUA
– –
-38,300
Closed -$423K
ALOR
219
DELISTED
ALSP Orchid Acquisition Corp I
ALOR
– –
-75,029
Closed -$825K
PRPC
220
DELISTED
CC Neuberger Principal Holdings III
PRPC
– –
-345,937
Closed -$3.77M
AAC
221
DELISTED
Ares Acquisition Corporation
AAC
– –
-1,520,673
Closed -$16.4M
ARTE
222
DELISTED
Artemis Strategic Investment Corporation Class A Common Stock
ARTE
– –
-171,000
Closed -$1.82M
ITAQ
223
DELISTED
Industrial Tech Acquisitions II, Inc. Class A Common Stock
ITAQ
– –
-111,719
Closed -$1.17M
TRCA
224
DELISTED
Twin Ridge Capital Acquisition Corp.
TRCA
– –
-477,944
Closed -$5.02M
FRBN
225
DELISTED
Forbion European Acquisition Corp. Class A Ordinary Shares
FRBN
– –
-558,692
Closed -$6.16M
6 7 8
9
10

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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.