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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
+4.21%
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
$2.53B
AUM Growth
+$49.5M
(+2%)
Cap. Flow
-$28.9M
Cap. Flow
% of AUM
-1.14%
Top 10 Holdings %
Top 10 Hldgs %
60.79%
Holding
79
New
17
Increased
5
Reduced
16
Closed
15
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
TWX
Time Warner Inc
TWX
|
+$222M |
| 2 |
PVTB
PrivateBancorp Inc
PVTB
|
+$79.9M |
| 3 |
Hilton Grand Vacations
HGV
|
+$59.4M |
| 4 |
NXP Semiconductors
NXPI
|
+$46.7M |
| 5 |
Microsoft
MSFT
|
+$42.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
RAI
Reynolds American Inc
RAI
|
+$143M |
| 2 |
WBA
Walgreens Boots Alliance
WBA
|
+$123M |
| 3 |
Teva Pharmaceuticals
TEVA
|
+$115M |
| 4 |
Molson Coors Class B
TAP
|
+$111M |
| 5 |
CDK
CDK Global, Inc.
CDK
|
+$68.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 19.17% |
| 2 | Energy | 15.65% |
| 3 | Industrials | 11.03% |
| 4 | Consumer Discretionary | 10.61% |
| 5 | Communication Services | 9.32% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
TWX
1
DELISTED
Time Warner Inc
TWX
| $224M | 8.84% |
+2,289,000
| New | +$222M |
|
|
2
NXP Semiconductors
NXPI
$65.4B
| $186M | 7.35% |
1,795,042
+461,542
| +35% | +$46.7M |
|
3
Equinix
EQIX
$102B
| $179M | 7.09% |
448,001
-65,286
| -13% | -$24.8M |
|
|
CDK
4
DELISTED
CDK Global, Inc.
CDK
| $177M | 7.02% |
2,730,341
-1,064,442
| -28% | -$68.2M |
|
|
5
Microsoft
MSFT
$2.92T
| $144M | 5.69% |
2,185,200
+660,000
| +43% | +$42.3M |
|
6
PUT
iShares Russell 2000 ETF
IWM
$80.4B
| $137M | 5.44% |
+1,000,000
| New | +$137M |
|
|
YHOO
7
DELISTED
Yahoo Inc
YHOO
| $137M | 5.4% |
2,942,388
-1,242,300
| -30% | -$55.5M |
|
|
RAI
8
DELISTED
Reynolds American Inc
RAI
| $121M | 4.79% |
1,920,955
-2,385,000
| -55% | -$143M |
|
9
Amplify Energy
AMPY
$152M
| $118M | 4.66% |
6,393,078
| – | – |
|
10
Hewlett Packard
HPE
$60.4B
| $114M | 4.51% |
8,287,924
| – | – |
|
11
Expedia Group
EXPE
$35.5B
| $105M | 4.15% |
832,400
| – | – |
|
12
Advance Auto Parts
AAP
$3.54B
| $96.5M | 3.82% |
650,957
-41,834
| -6% | -$6.72M |
|
|
PVTB
13
DELISTED
PrivateBancorp Inc
PVTB
| $84.6M | 3.35% |
+1,425,000
| New | +$79.9M |
|
14
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
| $72M | 2.85% |
+820,000
| New | +$71.6M |
|
|
15
Hilton Grand Vacations
HGV
$4.14B
| $59.7M | 2.36% |
+2,083,403
| New | +$59.4M |
|
16
Herc Holdings
HRI
$4.95B
| $55.7M | 2.2% |
1,139,215
| – | – |
|
|
SC
17
DELISTED
SANTANDER CONSUMER USA HOLDINGS INC
SC
| $42.8M | 1.69% |
3,214,200
| – | – |
|
|
SRUNU
18
DELISTED
Silver Run Acquisition Corporation II Units
SRUNU
| $36.5M | 1.44% |
+3,500,000
| New | +$36.5M |
|
19
SandRidge Energy
SD
$485M
| $32.5M | 1.28% |
1,756,136
| – | – |
|
|
REN
20
DELISTED
Resolute Energy Corporaton
REN
| $28.3M | 1.12% |
700,156
-77,800
| -10% | -$3.35M |
|
|
KAACU
21
DELISTED
Kayne Anderson Acquisition Corp. Unit
KAACU
| $25.1M | 0.99% |
+2,500,000
| New | +$25M |
|
|
SGY
22
DELISTED
Stone Energy
SGY
| $22.4M | 0.89% |
+1,027,926
| New | +$33.8M |
|
23
Verra Mobility
VRRM
$635M
| $21.9M | 0.87% |
+2,200,000
| New | +$22M |
|
24
WillScot Mobile Mini Holdings
WSC
$4.66B
| $20.9M | 0.82% |
2,085,000
| – | – |
|
|
FG
25
DELISTED
FGL Holdings Ordinary Shares
FG
| $20M | 0.79% |
2,000,000
| – | – |
|
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Fir Tree Capital Management's Q1 2017 Portfolio in Review
As of Q1 2017, Fir Tree Capital Management held 79 positions worth $2.53B, up 2% from $2.48B the previous quarter. Its ten largest holdings account for 61% of the portfolio.
Fir Tree Capital Management's Q1 2017 filing shows 17 new, 5 increased, 16 reduced and 15 closed positions. Its largest new stake was Time Warner Inc: 2,289,000 shares worth $224M. The largest sale was Reynolds American Inc, an estimated $143M.
By sector, the portfolio is most concentrated in Technology at 19% of assets, up from 15% a quarter earlier, followed by Energy and Industrials.
- Fir Tree Capital Management's largest Q1 2017 buy was Time Warner Inc: 2,289,000 shares worth $224M.
- Fir Tree Capital Management added most to NXP Semiconductors in Q1 2017, an estimated $46.7M increase.
- Fir Tree Capital Management's biggest Q1 2017 reduction was Reynolds American Inc, cutting an estimated $143M.
- Fir Tree Capital Management fully exited Walgreens Boots Alliance in Q1 2017, selling an estimated $123M.
- Fir Tree Capital Management's ten largest holdings make up 61% of its $2.53B portfolio in Q1 2017.
- Fir Tree Capital Management opened 17 new positions and closed 15 in Q1 2017.
- Fir Tree Capital Management's portfolio value rose 2% quarter-over-quarter to $2.53B.
Based on Fir Tree Capital Management's 13F filing for Q1 2017, filed 15 May 2017.