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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
+3.42%
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
$2.48B
AUM Growth
+$143M
(+6.1%)
Cap. Flow
+$110M
Cap. Flow
% of AUM
4.42%
Top 10 Holdings %
Top 10 Hldgs %
62.23%
Holding
81
New
22
Increased
4
Reduced
13
Closed
19
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
RAI
Reynolds American Inc
RAI
|
+$228M |
| 2 |
NXP Semiconductors
NXPI
|
+$133M |
| 3 |
Amplify Energy
AMPY
|
+$127M |
| 4 |
Expedia Group
EXPE
|
+$102M |
| 5 |
SandRidge Energy
SD
|
+$41.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
IPG
Interpublic Group of Companies
IPG
|
+$131M |
| 2 |
Advance Auto Parts
AAP
|
+$95.2M |
| 3 |
CDK
CDK Global, Inc.
CDK
|
+$83.3M |
| 4 |
TIVO
Tivo Inc
TIVO
|
+$81.9M |
| 5 |
Liberty Latin America Class C
LILAK
|
+$81.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 17.78% |
| 2 | Technology | 14.63% |
| 3 | Consumer Staples | 14.25% |
| 4 | Industrials | 13.46% |
| 5 | Healthcare | 9.6% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
RAI
1
DELISTED
Reynolds American Inc
RAI
| $241M | 9.73% |
+4,305,955
| New | +$228M |
|
|
CDK
2
DELISTED
CDK Global, Inc.
CDK
| $227M | 9.14% |
3,794,783
-1,455,753
| -28% | -$83.3M |
|
3
Equinix
EQIX
$102B
| $183M | 7.4% |
513,287
-39,100
| -7% | -$13.7M |
|
|
YHOO
4
DELISTED
Yahoo Inc
YHOO
| $162M | 6.53% |
4,184,688
-564,000
| -12% | -$23.1M |
|
|
5
Amplify Energy
AMPY
$152M
| $133M | 5.35% |
+6,393,078
| New | +$127M |
|
|
6
NXP Semiconductors
NXPI
$65.4B
| $131M | 5.27% |
+1,333,500
| New | +$133M |
|
|
WBA
7
DELISTED
Walgreens Boots Alliance
WBA
| $123M | 4.95% |
1,483,411
-318,500
| -18% | -$26.3M |
|
|
8
Advance Auto Parts
AAP
$3.54B
| $117M | 4.73% |
692,791
-605,391
| -47% | -$95.2M |
|
9
Teva Pharmaceuticals
TEVA
$36.9B
| $115M | 4.65% |
3,177,812
+351,600
| +12% | +$14M |
|
10
Hewlett Packard
HPE
$60.4B
| $111M | 4.5% |
8,287,924
+2,704,716
| +48% | +$36.1M |
|
11
Molson Coors Class B
TAP
$7.97B
| $111M | 4.47% |
1,138,205
-4,195
| -0.4% | -$428K |
|
12
CALL
Microsoft
MSFT
$2.92T
| $106M | 4.26% |
1,700,000
| – | – |
|
|
13
Microsoft
MSFT
$2.92T
| $94.8M | 3.82% |
1,525,200
| – | – |
|
|
14
Expedia Group
EXPE
$35.5B
| $94.3M | 3.8% |
+832,400
| New | +$102M |
|
15
Herc Holdings
HRI
$4.95B
| $45.8M | 1.85% |
1,139,215
+140,000
| +14% | +$5.05M |
|
|
SC
16
DELISTED
SANTANDER CONSUMER USA HOLDINGS INC
SC
| $43.4M | 1.75% |
3,214,200
-443,000
| -12% | -$5.85M |
|
|
17
SandRidge Energy
SD
$485M
| $41.4M | 1.67% |
+1,756,136
| New | +$41.2M |
|
|
REN
18
DELISTED
Resolute Energy Corporaton
REN
| $32M | 1.29% |
777,956
-86,500
| -10% | -$2.76M |
|
|
XELA
19
DELISTED
Exela Technologies, Inc. Common Stock
XELA
| $26M | 1.05% |
218
| – | – |
|
|
EPE
20
DELISTED
EP Energy Corporation
EPE
| $23.5M | 0.95% |
+3,581,478
| New | +$17.4M |
|
21
Williams Companies
WMB
$85.8B
| $22.9M | 0.92% |
733,895
-76,116
| -9% | -$2.29M |
|
22
WillScot Mobile Mini Holdings
WSC
$4.66B
| $20.7M | 0.84% |
2,085,000
| – | – |
|
|
GTYH
23
DELISTED
GTY Technology Holdings, Inc. Common Stock
GTYH
| $20.4M | 0.82% |
+1,900,000
| New | +$20.1M |
|
|
PACE
24
DELISTED
Pace Holdings Corp. Class A Ordinary Shares
PACE
| $20.2M | 0.82% |
2,000,000
| – | – |
|
|
FG
25
DELISTED
FGL Holdings Ordinary Shares
FG
| $19.8M | 0.8% |
2,000,000
| – | – |
|
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Fir Tree Capital Management's Q4 2016 Portfolio in Review
As of Q4 2016, Fir Tree Capital Management held 81 positions worth $2.48B, up 6.1% from $2.34B the previous quarter. Its ten largest holdings account for 62% of the portfolio.
Fir Tree Capital Management deployed $110M of net new capital in Q4 2016, opening 22 new positions and adding to 4 existing holdings. Its largest new stake was Reynolds American Inc: 4,305,955 shares worth $241M.
By sector, the portfolio is most concentrated in Energy at 18% of assets, up from 11% a quarter earlier, followed by Technology and Consumer Staples.
On the sell side, the largest reduction was Advance Auto Parts, an estimated $95.2M trimmed.
- Fir Tree Capital Management's largest Q4 2016 buy was Reynolds American Inc: 4,305,955 shares worth $241M.
- Fir Tree Capital Management added most to Hewlett Packard in Q4 2016, an estimated $36.1M increase.
- Fir Tree Capital Management's biggest Q4 2016 reduction was Advance Auto Parts, cutting an estimated $95.2M.
- Fir Tree Capital Management fully exited Interpublic Group of Companies in Q4 2016, selling an estimated $131M.
- Fir Tree Capital Management's ten largest holdings make up 62% of its $2.48B portfolio in Q4 2016.
- Fir Tree Capital Management opened 22 new positions and closed 19 in Q4 2016.
- Fir Tree Capital Management's portfolio value rose 6.1% quarter-over-quarter to $2.48B.
Based on Fir Tree Capital Management's 13F filing for Q4 2016, filed 14 Feb 2017.