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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
+3.89%
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
$3.51B
AUM Growth
+$186M
(+5.6%)
Cap. Flow
+$104M
Cap. Flow
% of AUM
2.95%
Top 10 Holdings %
Top 10 Hldgs %
59.65%
Holding
96
New
20
Increased
10
Reduced
17
Closed
21
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
LKQ Corp
LKQ
|
+$135M |
| 2 |
Aptiv
APTV
|
+$69.6M |
| 3 |
Equifax
EFX
|
+$63.6M |
| 4 |
UPL
Ultra Petroleum Corp. Common Stock
UPL
|
+$55M |
| 5 |
MFGP
Micro Focus International plc. American Depositary Shares, each representing One Ordinary Share
MFGP
|
+$47.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MON
Monsanto Co
MON
|
+$152M |
| 2 |
PNRA
Panera Bread Co
PNRA
|
+$113M |
| 3 |
Advance Auto Parts
AAP
|
+$106M |
| 4 |
Oracle
ORCL
|
+$95.8M |
| 5 |
CDK
CDK Global, Inc.
CDK
|
+$72.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 20.2% |
| 2 | Financials | 15.27% |
| 3 | Consumer Discretionary | 13.94% |
| 4 | Energy | 12.46% |
| 5 | Communication Services | 8.03% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
UPL
1
DELISTED
Ultra Petroleum Corp. Common Stock
UPL
| $315M | 8.99% |
36,379,590
+6,018,660
| +20% | +$55M |
|
2
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
| $302M | 8.6% |
+3,400,000
| New | +$300M |
|
|
TWX
3
DELISTED
Time Warner Inc
TWX
| $274M | 7.81% |
2,676,177
| – | – |
|
4
NXP Semiconductors
NXPI
$65.4B
| $256M | 7.29% |
2,262,042
| – | – |
|
5
CALL
Alphabet (Google) Class C
GOOG
$4.07T
| $192M | 5.47% |
4,000,000
| – | – |
|
6
Equinix
EQIX
$102B
| $172M | 4.9% |
385,646
-22,147
| -5% | -$9.92M |
|
7
Microsoft
MSFT
$2.92T
| $163M | 4.64% |
2,185,200
| – | – |
|
|
AABA
8
DELISTED
Altaba Inc
AABA
| $155M | 4.42% |
2,342,678
| – | – |
|
|
9
LKQ Corp
LKQ
$6.77B
| $152M | 4.33% |
4,221,890
+3,962,133
| +1,525% | +$135M |
|
10
Expedia Group
EXPE
$35.5B
| $113M | 3.21% |
783,900
| – | – |
|
11
Amplify Energy
AMPY
$152M
| $99.3M | 2.83% |
6,393,078
| – | – |
|
12
Hilton Grand Vacations
HGV
$4.14B
| $90.5M | 2.58% |
2,343,853
+175,000
| +8% | +$6.34M |
|
13
SM Energy
SM
$7.11B
| $83.4M | 2.38% |
4,699,400
+1,348,682
| +40% | +$21.1M |
|
|
SRUN
14
DELISTED
Silver Run Acquisition Corporation II Class A
SRUN
| $82M | 2.34% |
8,056,310
+4,556,310
| +130% | +$46.4M |
|
|
15
CALL
Microsoft
MSFT
$2.92T
| $77.5M | 2.21% |
1,040,000
-1,040,000
| -50% | -$76M |
|
|
ESES
16
DELISTED
Eco-Stim Energy Solutions Inc. Common Stock
ESES
| $77M | 2.19% |
50,025,278
+18,456,056
| +58% | +$26.3M |
|
|
17
Aptiv
APTV
$12.6B
| $72.6M | 2.07% |
+737,500
| New | +$69.6M |
|
18
Herc Holdings
HRI
$4.95B
| $58M | 1.65% |
1,180,241
-83,974
| -7% | -$3.64M |
|
|
19
Equifax
EFX
$22B
| $51M | 1.45% |
+481,000
| New | +$63.6M |
|
|
MFGP
20
DELISTED
Micro Focus International plc. American Depositary Shares, each representing One Ordinary Share
MFGP
| $47.9M | 1.36% |
+1,239,669
| New | +$47.9M |
|
21
MGM Resorts International
MGM
$11.8B
| $47.6M | 1.36% |
+1,459,846
| New | +$47M |
|
|
22
Oracle
ORCL
$346B
| $46.4M | 1.32% |
958,808
-1,924,492
| -67% | -$95.8M |
|
|
SC
23
DELISTED
SANTANDER CONSUMER USA HOLDINGS INC
SC
| $40M | 1.14% |
2,600,400
-613,800
| -19% | -$8.38M |
|
24
SandRidge Energy
SD
$485M
| $38.9M | 1.11% |
1,936,614
| – | – |
|
25
WillScot Mobile Mini Holdings
WSC
$4.66B
| $35.1M | 1% |
3,479,000
+1,394,000
| +67% | +$14M |
|
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Fir Tree Capital Management's Q3 2017 Portfolio in Review
As of Q3 2017, Fir Tree Capital Management held 96 positions worth $3.51B, up 5.6% from $3.32B the previous quarter. Its ten largest holdings account for 60% of the portfolio.
Fir Tree Capital Management's Q3 2017 filing shows 20 new, 10 increased, 17 reduced and 21 closed positions. Its largest new stake was Aptiv: 737,500 shares worth $72.6M. The largest sale was Monsanto Co, an estimated $152M.
By sector, the portfolio is most concentrated in Technology at 20% of assets, down from 21% a quarter earlier, followed by Financials and Consumer Discretionary.
- Fir Tree Capital Management's largest Q3 2017 buy was Aptiv: 737,500 shares worth $72.6M.
- Fir Tree Capital Management added most to LKQ Corp in Q3 2017, an estimated $135M increase.
- Fir Tree Capital Management's biggest Q3 2017 reduction was Oracle, cutting an estimated $95.8M.
- Fir Tree Capital Management fully exited Monsanto Co in Q3 2017, selling an estimated $152M.
- Fir Tree Capital Management's ten largest holdings make up 60% of its $3.51B portfolio in Q3 2017.
- Fir Tree Capital Management opened 20 new positions and closed 21 in Q3 2017.
- Fir Tree Capital Management's portfolio value rose 5.6% quarter-over-quarter to $3.51B.
Based on Fir Tree Capital Management's 13F filing for Q3 2017, filed 14 Nov 2017.