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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
+12.22%
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
$2.34B
AUM Growth
-$106M
Cap. Flow
-$99.9M
Cap. Flow %
-4.28%
Top 10 Hldgs %
69.16%
Holding
73
New
14
Increased
6
Reduced
15
Closed
14

Top Buys

Rank Stock Value
1
TIVO
Tivo Inc
TIVO
+$143M
2
LILAK icon
Liberty Latin America Class C
LILAK
+$90.5M
3
HTZ
Hertz Global Holdings, Inc.
HTZ
+$73.7M
4
HPE icon
Hewlett Packard
HPE
+$68.9M
5
TAP icon
Molson Coors Class B
TAP
+$28.8M

Top Sells

Rank Stock Value
1
EMC
EMC CORPORATION
EMC
+$228M
2
CI icon
Cigna
CI
+$142M
3
AGN
Allergan plc
AGN
+$64.5M
4
HRI icon
Herc Holdings
HRI
+$52.1M
5
MON
Monsanto Co
MON
+$36.1M

Sector Composition

Rank Sector Weight
1 Industrials 23.08%
2 Healthcare 11.78%
3 Energy 11.44%
4 Communication Services 9.09%
5 Consumer Discretionary 8.79%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CDK
1
DELISTED
CDK Global, Inc.
CDK
$301M 12.89%
5,250,536
-449,000
-8% -$25.8M
YHOO
2
DELISTED
Yahoo Inc
YHOO
$205M 8.76%
4,748,688
-315,000
-6% -$12.9M
EQIX icon
3
Equinix
EQIX
$102B
$199M 8.52%
552,387
– –
AAP icon
4
Advance Auto Parts
AAP
$3.54B
$194M 8.28%
1,298,182
+155,600
+14% +$24.9M
WBA
5
DELISTED
Walgreens Boots Alliance
WBA
$145M 6.22%
1,801,911
+150,000
+9% +$12.2M
IPG
6
DELISTED
Interpublic Group of Companies
IPG
$131M 5.62%
5,871,286
-500,000
-8% -$11.5M
TEVA icon
7
Teva Pharmaceuticals
TEVA
$36.9B
$130M 5.56%
2,826,212
+70,439
+3% +$3.68M
TAP icon
8
Molson Coors Class B
TAP
$7.97B
$125M 5.37%
1,142,400
+283,200
+33% +$28.8M
MSFT icon
9
CALL
Microsoft
MSFT
$2.92T
$97.9M 4.19%
+1,700,000
New +$96M
MSFT icon
10
Microsoft
MSFT
$2.92T
$87.9M 3.76%
1,525,200
-206,000
-12% -$11.6M
TIVO
11
DELISTED
Tivo Inc
TIVO
$81.9M 3.5%
+7,243,000
New +$143M
LILAK icon
12
Liberty Latin America Class C
LILAK
$1.65B
$81.2M 3.47%
+3,381,284
New +$90.5M
HPE icon
13
Hewlett Packard
HPE
$60.4B
$73.8M 3.16%
+5,583,208
New +$68.9M
HTZ
14
DELISTED
Hertz Global Holdings, Inc.
HTZ
$61.5M 2.63%
+1,761,777
New +$73.7M
SC
15
DELISTED
SANTANDER CONSUMER USA HOLDINGS INC
SC
$44.5M 1.9%
3,657,200
– –
HRI icon
16
Herc Holdings
HRI
$4.95B
$33.7M 1.44%
999,215
-1,551,870
-61% -$52.1M
AUMA
17
DELISTED
AR CAPITAL ACQUISITION CORP COMMON STOCK
AUMA
$25.9M 1.11%
2,600,000
– –
XELA
18
DELISTED
Exela Technologies, Inc. Common Stock
XELA
$25.9M 1.11%
218
– –
WMB icon
19
Williams Companies
WMB
$85.8B
$24.9M 1.07%
810,011
– –
REN
20
DELISTED
Resolute Energy Corporaton
REN
$22.5M 0.96%
864,456
-96,000
-10% -$1.38M
WSC icon
21
WillScot Mobile Mini Holdings
WSC
$4.66B
$20.6M 0.88%
2,085,000
+85,000
+4% +$833K
PACE
22
DELISTED
Pace Holdings Corp. Class A Ordinary Shares
PACE
$19.7M 0.84%
2,000,000
– –
FG
23
DELISTED
FGL Holdings Ordinary Shares
FG
$19.6M 0.84%
+2,000,000
New +$19.5M
EACQ
24
DELISTED
Easterly Acquisition Corp
EACQ
$18.4M 0.79%
1,850,000
– –
TRTL
25
DELISTED
Terrapin 3 Acquisition Corporation Class A
TRTL
$18.2M 0.78%
1,831,500
– –
1
2 3

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WHP
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Fir Tree Capital Management's Q3 2016 Portfolio in Review

As of Q3 2016, Fir Tree Capital Management held 73 positions worth $2.34B, down 4.3% from $2.44B the previous quarter. Its ten largest holdings account for 69% of the portfolio.

Fir Tree Capital Management withdrew a net $99.9M in Q3 2016, closing 14 positions and reducing 15 holdings. Its most notable exit was EMC CORPORATION, an estimated $228M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 23% of assets, up from 18% a quarter earlier, followed by Healthcare and Energy.

Against the trend, Fir Tree Capital Management opened a new position in Tivo Inc worth $81.9M.

  • Fir Tree Capital Management's largest Q3 2016 buy was Tivo Inc: 7,243,000 shares worth $81.9M.
  • Fir Tree Capital Management added most to Molson Coors Class B in Q3 2016, an estimated $28.8M increase.
  • Fir Tree Capital Management's biggest Q3 2016 reduction was Herc Holdings, cutting an estimated $52.1M.
  • Fir Tree Capital Management fully exited EMC CORPORATION in Q3 2016, selling an estimated $228M.
  • Fir Tree Capital Management's ten largest holdings make up 69% of its $2.34B portfolio in Q3 2016.
  • Fir Tree Capital Management opened 14 new positions and closed 14 in Q3 2016.
  • Fir Tree Capital Management's portfolio value fell 4.3% quarter-over-quarter to $2.34B.

Based on Fir Tree Capital Management's 13F filing for Q3 2016, filed 14 Nov 2016.