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FTCM
Fir Tree Capital Management Portfolio holdings
AUM
$21.8M
1-Year Est. Return
1.61%
This Fund
S&P 500
This Quarter
Est. Return
-10.21%
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
$5.97B
AUM Growth
-$313M
(-5%)
Cap. Flow
+$607M
Cap. Flow
% of AUM
10.18%
Top 10 Holdings %
Top 10 Hldgs %
54.45%
Holding
76
New
20
Increased
11
Reduced
16
Closed
10
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
YHOO
Yahoo Inc
YHOO
|
+$275M |
| 2 |
Teva Pharmaceuticals
TEVA
|
+$212M |
| 3 |
Williams Companies
WMB
|
+$175M |
| 4 |
NETSCOUT
NTCT
|
+$171M |
| 5 |
American Express
AXP
|
+$145M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
EQC
Equity Commonwealth
EQC
|
+$107M |
| 2 |
SCTY
SolarCity Corporation
SCTY
|
+$99.5M |
| 3 |
SLH
SOLERA HOLDINGS, INC. COM
SLH
|
+$94.8M |
| 4 |
HCA Healthcare
HCA
|
+$88.5M |
| 5 |
SC
SANTANDER CONSUMER USA HOLDINGS INC
SC
|
+$79.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 19.46% |
| 2 | Healthcare | 17.72% |
| 3 | Energy | 12.96% |
| 4 | Technology | 12.09% |
| 5 | Financials | 9.89% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
CDK
1
DELISTED
CDK Global, Inc.
CDK
| $512M | 8.59% |
10,724,655
-746,307
| -7% | -$37.9M |
|
|
IPG
2
DELISTED
Interpublic Group of Companies
IPG
| $410M | 6.87% |
21,434,374
+503,675
| +2% | +$10.1M |
|
|
AGN
3
DELISTED
Allergan plc
AGN
| $391M | 6.55% |
1,438,029
-61,950
| -4% | -$19M |
|
4
Herc Holdings
HRI
$4.95B
| $321M | 5.39% |
6,403,947
+2,106,493
| +49% | +$110M |
|
|
5
Williams Companies
WMB
$85.8B
| $313M | 5.24% |
8,482,978
+3,512,265
| +71% | +$175M |
|
6
Avis
CAR
$5.88B
| $298M | 5% |
6,828,536
+359,575
| +6% | +$15.6M |
|
|
7
Teva Pharmaceuticals
TEVA
$36.9B
| $265M | 4.44% |
4,693,843
+3,272,636
| +230% | +$212M |
|
8
Cadence Design Systems
CDNS
$95.1B
| $256M | 4.3% |
12,392,225
+3,372,087
| +37% | +$68.7M |
|
9
Advance Auto Parts
AAP
$3.54B
| $253M | 4.24% |
1,334,480
-242,141
| -15% | -$42M |
|
|
YHOO
10
DELISTED
Yahoo Inc
YHOO
| $229M | 3.83% |
+7,911,279
| New | +$275M |
|
11
MetLife
MET
$62.7B
| $227M | 3.8% |
5,398,481
-311,396
| -5% | -$14.5M |
|
12
Bausch Health
BHC
$1.69B
| $201M | 3.38% |
1,129,079
| – | – |
|
13
Equinix
EQIX
$102B
| $195M | 3.26% |
712,298
-211,624
| -23% | -$58M |
|
|
MON
14
DELISTED
Monsanto Co
MON
| $161M | 2.7% |
1,884,200
-396,030
| -17% | -$39.1M |
|
|
15
NETSCOUT
NTCT
$2.89B
| $160M | 2.67% |
+4,509,473
| New | +$171M |
|
|
ACAS
16
DELISTED
American Capital Ltd
ACAS
| $147M | 2.46% |
12,054,969
+173,167
| +1% | +$2.32M |
|
|
HES
17
DELISTED
Hess
HES
| $145M | 2.44% |
2,902,853
| – | – |
|
18
Lamar Advertising Co
LAMR
$16.5B
| $145M | 2.43% |
2,780,683
| – | – |
|
|
19
American Express
AXP
$227B
| $139M | 2.34% |
+1,881,000
| New | +$145M |
|
20
PTC
PTC
$14.7B
| $124M | 2.08% |
3,904,059
+1,755,754
| +82% | +$62.8M |
|
|
21
HCA Healthcare
HCA
$92.8B
| $114M | 1.91% |
1,473,355
-1,000,000
| -40% | -$88.5M |
|
22
Nokia
NOK
$49.9B
| $108M | 1.81% |
15,965,389
-6,150,000
| -28% | -$40.4M |
|
|
SC
23
DELISTED
SANTANDER CONSUMER USA HOLDINGS INC
SC
| $84M | 1.41% |
4,115,249
-3,454,718
| -46% | -$79.5M |
|
24
EQT Corp
EQT
$32.3B
| $75.1M | 1.26% |
2,129,083
| – | – |
|
25
Alibaba
BABA
$276B
| $65M | 1.09% |
1,102,000
| – | – |
|
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Fir Tree Capital Management's Q3 2015 Portfolio in Review
As of Q3 2015, Fir Tree Capital Management held 76 positions worth $5.97B, down 5% from $6.28B the previous quarter. Its ten largest holdings account for 54% of the portfolio.
Fir Tree Capital Management deployed $607M of net new capital in Q3 2015, opening 20 new positions and adding to 11 existing holdings. Its largest new stake was Yahoo Inc: 7,911,279 shares worth $229M.
By sector, the portfolio is most concentrated in Industrials at 19% of assets, down from 20% a quarter earlier, followed by Healthcare and Energy.
On the sell side, the largest reduction was HCA Healthcare, an estimated $88.5M trimmed.
- Fir Tree Capital Management's largest Q3 2015 buy was Yahoo Inc: 7,911,279 shares worth $229M.
- Fir Tree Capital Management added most to Teva Pharmaceuticals in Q3 2015, an estimated $212M increase.
- Fir Tree Capital Management's biggest Q3 2015 reduction was HCA Healthcare, cutting an estimated $88.5M.
- Fir Tree Capital Management fully exited Equity Commonwealth in Q3 2015, selling an estimated $107M.
- Fir Tree Capital Management's ten largest holdings make up 54% of its $5.97B portfolio in Q3 2015.
- Fir Tree Capital Management opened 20 new positions and closed 10 in Q3 2015.
- Fir Tree Capital Management's portfolio value fell 5% quarter-over-quarter to $5.97B.
Based on Fir Tree Capital Management's 13F filing for Q3 2015, filed 16 Nov 2015.