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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
+7.96%
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
$8.79B
AUM Growth
+$1.48B
Cap. Flow
+$184M
Cap. Flow %
2.09%
Top 10 Hldgs %
44.47%
Holding
132
New
27
Increased
14
Reduced
20
Closed
42

Top Buys

Rank Stock Value
1
NOK icon
Nokia
NOK
+$236M
2
GMCR
KEURIG GREEN MTN INC
GMCR
+$130M
3
EQT icon
EQT Corp
EQT
+$124M
4
TEVA icon
Teva Pharmaceuticals
TEVA
+$124M
5
AGO icon
Assured Guaranty
AGO
+$102M

Top Sells

Rank Stock Value
1
EQIX icon
Equinix
EQIX
+$120M
2
CI icon
Cigna
CI
+$118M
3
MSI icon
Motorola Solutions
MSI
+$106M
4
PPLI
People Inc
PPLI
+$102M
5
GOOG icon
Alphabet (Google) Class C
GOOG
+$98M

Sector Composition

Rank Sector Weight
1 Real Estate 18.81%
2 Financials 14.63%
3 Energy 11.68%
4 Technology 9.85%
5 Healthcare 8.13%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$783B
$594M 6.76%
+321,500
New +$56.9M
EQIX icon
2
Equinix
EQIX
$102B
$527M 5.99%
2,967,422
-722,718
-20% -$120M
NE
3
DELISTED
Noble Corporation
NE
$507M 5.77%
15,477,814
+1,815,375
+13% +$60.3M
ESRX
4
DELISTED
Express Scripts Holding Company
ESRX
$413M 4.69%
5,877,780
-433,028
-7% -$28.3M
AON icon
5
Aon
AON
$81.4B
$380M 4.32%
4,530,783
-1,079,020
-19% -$85.5M
GLD icon
6
CALL
SPDR Gold Trust
GLD
$131B
$304M 3.46%
+2,620,000
New +$322M
MET icon
7
MetLife
MET
$62.7B
$304M 3.45%
6,319,690
-201,374
-3% -$9.03M
CCI icon
8
Crown Castle
CCI
$33.1B
$301M 3.43%
4,103,484
+504,000
+14% +$37.3M
HES
9
DELISTED
Hess
HES
$297M 3.38%
3,582,149
+193,000
+6% +$15.7M
YHOO
10
CALL
DELISTED
Yahoo Inc
YHOO
$283M 3.22%
7,000,000
-700,000
-9% -$25.1M
EQT icon
11
EQT Corp
EQT
$32.3B
$259M 2.94%
5,296,301
+2,625,152
+98% +$124M
NOK icon
12
Nokia
NOK
$49.9B
$255M 2.9%
+31,423,600
New +$236M
WMB icon
13
Williams Companies
WMB
$85.8B
$234M 2.66%
6,071,921
-1,445,000
-19% -$52M
MSI icon
14
Motorola Solutions
MSI
$73.1B
$234M 2.66%
3,461,990
-1,658,710
-32% -$106M
QCOM icon
15
Qualcomm
QCOM
$172B
$230M 2.62%
3,100,800
-827,000
-21% -$58.3M
AET
16
DELISTED
Aetna Inc
AET
$210M 2.39%
3,067,244
+477,897
+18% +$31.2M
LAMR icon
17
Lamar Advertising Co
LAMR
$16.5B
$206M 2.34%
3,939,427
-136,276
-3% -$6.66M
GMCR
18
DELISTED
KEURIG GREEN MTN INC
GMCR
$167M 1.9%
2,216,400
+1,911,400
+627% +$130M
BP icon
19
BP
BP
$107B
$153M 1.74%
3,846,133
+2,225,036
+137% +$82.8M
HRI icon
20
Herc Holdings
HRI
$4.95B
$150M 1.71%
1,750,000
– –
QCOM icon
21
CALL
Qualcomm
QCOM
$172B
$149M 1.69%
2,000,000
– –
EQC
22
DELISTED
Equity Commonwealth
EQC
$146M 1.66%
6,253,113
+2,387,380
+62% +$56.6M
FCE.A
23
DELISTED
Forest City Realty Trust, Inc.
FCE.A
$133M 1.51%
6,962,557
+874,148
+14% +$17M
EXXI
24
DELISTED
ENERGY XXI LTD COM SHS
EXXI
$130M 1.48%
4,815,688
+975,000
+25% +$28M
CI icon
25
Cigna
CI
$79.6B
$130M 1.48%
1,486,208
-1,440,920
-49% -$118M
1
2 3 4 5

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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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Fir Tree Capital Management's Q4 2013 Portfolio in Review

As of Q4 2013, Fir Tree Capital Management held 132 positions worth $8.79B, up 20% from $7.32B the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Fir Tree Capital Management's Q4 2013 filing shows 27 new, 14 increased, 20 reduced and 42 closed positions. Its largest new stake was Nokia: 31,423,600 shares worth $255M. The largest sale was Equinix, an estimated $120M.

By sector, the portfolio is most concentrated in Real Estate at 19% of assets, down from 20% a quarter earlier, followed by Financials and Energy.

  • Fir Tree Capital Management's largest Q4 2013 buy was Nokia: 31,423,600 shares worth $255M.
  • Fir Tree Capital Management added most to KEURIG GREEN MTN INC in Q4 2013, an estimated $130M increase.
  • Fir Tree Capital Management's biggest Q4 2013 reduction was Equinix, cutting an estimated $120M.
  • Fir Tree Capital Management fully exited Alphabet (Google) Class C in Q4 2013, selling an estimated $98M.
  • Fir Tree Capital Management's ten largest holdings make up 44% of its $8.79B portfolio in Q4 2013.
  • Fir Tree Capital Management opened 27 new positions and closed 42 in Q4 2013.
  • Fir Tree Capital Management's portfolio value rose 20% quarter-over-quarter to $8.79B.

Based on Fir Tree Capital Management's 13F filing for Q4 2013, filed 14 Feb 2014.