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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
+0.89%
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
$3.32B
AUM Growth
+$795M
(+31%)
Cap. Flow
+$831M
Cap. Flow
% of AUM
24.99%
Top 10 Holdings %
Top 10 Hldgs %
57.79%
Holding
91
New
27
Increased
14
Reduced
11
Closed
15
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
UPL
Ultra Petroleum Corp. Common Stock
UPL
|
+$343M |
| 2 |
MON
Monsanto Co
MON
|
+$150M |
| 3 |
Oracle
ORCL
|
+$131M |
| 4 |
AABA
Altaba Inc
AABA
|
+$128M |
| 5 |
PNRA
Panera Bread Co
PNRA
|
+$113M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
YHOO
Yahoo Inc
YHOO
|
+$137M |
| 2 |
RAI
Reynolds American Inc
RAI
|
+$121M |
| 3 |
Hewlett Packard
HPE
|
+$114M |
| 4 |
CDK
CDK Global, Inc.
CDK
|
+$98.2M |
| 5 |
PVTB
PrivateBancorp Inc
PVTB
|
+$84.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 21.41% |
| 2 | Financials | 15.52% |
| 3 | Consumer Discretionary | 12.94% |
| 4 | Energy | 11.45% |
| 5 | Communication Services | 8.7% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
UPL
1
DELISTED
Ultra Petroleum Corp. Common Stock
UPL
| $329M | 9.91% |
+30,360,930
| New | +$343M |
|
|
TWX
2
DELISTED
Time Warner Inc
TWX
| $269M | 8.08% |
2,676,177
+387,177
| +17% | +$38.3M |
|
3
NXP Semiconductors
NXPI
$65.4B
| $248M | 7.45% |
2,262,042
+467,000
| +26% | +$50M |
|
4
CALL
Alphabet (Google) Class C
GOOG
$4.07T
| $182M | 5.47% |
+4,000,000
| New | +$183M |
|
5
Equinix
EQIX
$102B
| $175M | 5.27% |
407,793
-40,208
| -9% | -$17M |
|
|
MON
6
DELISTED
Monsanto Co
MON
| $152M | 4.58% |
+1,285,100
| New | +$150M |
|
7
Microsoft
MSFT
$2.92T
| $151M | 4.53% |
2,185,200
| – | – |
|
|
8
Oracle
ORCL
$346B
| $145M | 4.35% |
+2,883,300
| New | +$131M |
|
|
9
CALL
Microsoft
MSFT
$2.92T
| $143M | 4.31% |
+2,080,000
| New | +$143M |
|
|
AABA
10
DELISTED
Altaba Inc
AABA
| $128M | 3.84% |
+2,342,678
| New | +$128M |
|
11
Expedia Group
EXPE
$35.5B
| $117M | 3.51% |
783,900
-48,500
| -6% | -$6.81M |
|
|
PNRA
12
DELISTED
Panera Bread Co
PNRA
| $113M | 3.41% |
+360,023
| New | +$113M |
|
13
Advance Auto Parts
AAP
$3.54B
| $106M | 3.2% |
911,957
+261,000
| +40% | +$35.8M |
|
14
Amplify Energy
AMPY
$152M
| $81M | 2.44% |
6,393,078
| – | – |
|
15
Hilton Grand Vacations
HGV
$4.14B
| $78.2M | 2.35% |
2,168,853
+85,450
| +4% | +$2.95M |
|
|
CDK
16
DELISTED
CDK Global, Inc.
CDK
| $72.3M | 2.18% |
1,165,053
-1,565,288
| -57% | -$98.2M |
|
17
SM Energy
SM
$7.11B
| $55.4M | 1.67% |
+3,350,718
| New | +$66.5M |
|
18
Herc Holdings
HRI
$4.95B
| $49.7M | 1.5% |
1,264,215
+125,000
| +11% | +$5.22M |
|
|
SC
19
DELISTED
SANTANDER CONSUMER USA HOLDINGS INC
SC
| $41M | 1.23% |
3,214,200
| – | – |
|
|
ESES
20
DELISTED
Eco-Stim Energy Solutions Inc. Common Stock
ESES
| $39.5M | 1.19% |
31,569,222
+29,538,786
| +1,455% | +$36.5M |
|
|
SRUN
21
DELISTED
Silver Run Acquisition Corporation II Class A
SRUN
| $35.5M | 1.07% |
+3,500,000
| New | +$34.9M |
|
22
SandRidge Energy
SD
$485M
| $33.3M | 1% |
1,936,614
+180,478
| +10% | +$3.36M |
|
|
FG
23
DELISTED
FGL Holdings Ordinary Shares
FG
| $32.1M | 0.97% |
2,857,596
+857,596
| +43% | +$9.11M |
|
|
HK
24
DELISTED
Halcon Resources Corporation
HK
| $31.2M | 0.94% |
6,875,172
+6,132,460
| +826% | +$38.4M |
|
|
ILG
25
CALL
DELISTED
ILG, Inc Common Stock
ILG
| $27.5M | 0.83% |
+1,000,000
| New | +$25.3M |
|
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Fir Tree Capital Management's Q2 2017 Portfolio in Review
As of Q2 2017, Fir Tree Capital Management held 91 positions worth $3.32B, up 31% from $2.53B the previous quarter. Its ten largest holdings account for 58% of the portfolio.
Fir Tree Capital Management deployed $831M of net new capital in Q2 2017, opening 27 new positions and adding to 14 existing holdings. Its largest new stake was Ultra Petroleum Corp. Common Stock: 30,360,930 shares worth $329M.
By sector, the portfolio is most concentrated in Technology at 21% of assets, up from 19% a quarter earlier, followed by Financials and Consumer Discretionary.
On the sell side, the largest reduction was CDK Global, Inc., an estimated $98.2M trimmed.
- Fir Tree Capital Management's largest Q2 2017 buy was Ultra Petroleum Corp. Common Stock: 30,360,930 shares worth $329M.
- Fir Tree Capital Management added most to NXP Semiconductors in Q2 2017, an estimated $50M increase.
- Fir Tree Capital Management's biggest Q2 2017 reduction was CDK Global, Inc., cutting an estimated $98.2M.
- Fir Tree Capital Management fully exited Yahoo Inc in Q2 2017, selling an estimated $137M.
- Fir Tree Capital Management's ten largest holdings make up 58% of its $3.32B portfolio in Q2 2017.
- Fir Tree Capital Management opened 27 new positions and closed 15 in Q2 2017.
- Fir Tree Capital Management's portfolio value rose 31% quarter-over-quarter to $3.32B.
Based on Fir Tree Capital Management's 13F filing for Q2 2017, filed 14 Aug 2017.