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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
+2.97%
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
$3.71B
AUM Growth
+$203M
Cap. Flow
+$116M
Cap. Flow %
3.11%
Top 10 Hldgs %
55.58%
Holding
89
New
14
Increased
9
Reduced
10
Closed
17

Top Buys

Rank Stock Value
1
PX
Praxair Inc
PX
+$187M
2
MGM icon
MGM Resorts International
MGM
+$69.8M
3
BOBE
Bob Evans Farms, Inc.
BOBE
+$65.2M
4
CPN
Calpine Corporation
CPN
+$58.6M
5
AET
Aetna Inc
AET
+$58.4M

Top Sells

Rank Stock Value
1
AABA
Altaba Inc
AABA
+$75.6M
2
HRI icon
Herc Holdings
HRI
+$58M
3
EFX icon
Equifax
EFX
+$51M
4
SC
SANTANDER CONSUMER USA HOLDINGS INC
SC
+$40M
5
WSC icon
WillScot Mobile Mini Holdings
WSC
+$35.1M

Sector Composition

Rank Sector Weight
1 Technology 19.27%
2 Consumer Discretionary 18.77%
3 Financials 14.67%
4 Energy 11.7%
5 Communication Services 6.37%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
UPL
1
DELISTED
Ultra Petroleum Corp. Common Stock
UPL
$330M 8.88%
36,379,590
– –
GOOG icon
2
CALL
Alphabet (Google) Class C
GOOG
$4.07T
$262M 7.05%
5,000,000
+1,000,000
+25% +$50.9M
NXPI icon
3
NXP Semiconductors
NXPI
$65.4B
$253M 6.82%
2,162,042
-100,000
-4% -$11.6M
TWX
4
DELISTED
Time Warner Inc
TWX
$237M 6.37%
2,586,177
-90,000
-3% -$8.5M
PX
5
DELISTED
Praxair Inc
PX
$195M 5.26%
+1,262,697
New +$187M
MSFT icon
6
Microsoft
MSFT
$2.92T
$187M 5.03%
2,185,200
– –
LKQ icon
7
LKQ Corp
LKQ
$6.77B
$172M 4.62%
4,221,890
– –
EQIX icon
8
Equinix
EQIX
$102B
$162M 4.37%
357,836
-27,810
-7% -$12.9M
MSFT icon
9
CALL
Microsoft
MSFT
$2.92T
$145M 3.92%
1,700,000
+660,000
+63% +$54.1M
MGM icon
10
MGM Resorts International
MGM
$11.8B
$121M 3.26%
3,626,931
+2,167,085
+148% +$69.8M
EXPE icon
11
Expedia Group
EXPE
$35.5B
$118M 3.17%
982,270
+198,370
+25% +$25.7M
AMPY icon
12
Amplify Energy
AMPY
$152M
$106M 2.85%
6,393,078
– –
MFGP
13
DELISTED
Micro Focus International plc. American Depositary Shares, each representing One Ordinary Share
MFGP
$102M 2.74%
2,499,955
+1,260,286
+102% +$51M
SRUN
14
DELISTED
Silver Run Acquisition Corporation II Class A
SRUN
$96.2M 2.59%
9,706,310
+1,650,000
+20% +$16.5M
SM icon
15
SM Energy
SM
$7.11B
$88.4M 2.38%
4,004,559
-694,841
-15% -$14M
AABA
16
DELISTED
Altaba Inc
AABA
$87.8M 2.36%
1,256,344
-1,086,334
-46% -$75.6M
HGV icon
17
Hilton Grand Vacations
HGV
$4.14B
$85.1M 2.29%
2,028,653
-315,200
-13% -$12.8M
TSLA icon
18
PUT
Tesla
TSLA
$1.21T
$68.5M 1.84%
+3,300,000
New +$71.8M
BOBE
19
DELISTED
Bob Evans Farms, Inc.
BOBE
$66.2M 1.78%
+840,243
New +$65.2M
APTV icon
20
Aptiv
APTV
$12.6B
$63.8M 1.72%
751,800
+14,300
+2% +$1.36M
ESES
21
DELISTED
Eco-Stim Energy Solutions Inc. Common Stock
ESES
$63M 1.7%
50,025,278
– –
AET
22
DELISTED
Aetna Inc
AET
$61.3M 1.65%
+340,000
New +$58.4M
CPN
23
DELISTED
Calpine Corporation
CPN
$59.1M 1.59%
+3,908,871
New +$58.6M
DLPH
24
DELISTED
Delphi Technologies PLC Ordinary Shares
DLPH
$57.8M 1.56%
+1,100,997
New +$57.2M
SD icon
25
SandRidge Energy
SD
$485M
$52.6M 1.42%
2,496,614
+560,000
+29% +$10.4M
1
2 3 4

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CSD
Clear Street Derivatives New York $12.4M AUM 1.7% 1-Year Est. Return
AVM
Altos Ventures Management Burlingame, California $11.7M AUM 182.72% 1-Year Est. Return
PC
Prysm Capital Princeton, New Jersey $10.6M AUM 2.38% 1-Year Est. Return
WHP
Washington Harbour Partners Arlington, Virginia $33.8M AUM 73.62% 1-Year Est. Return
ADIM
Alpha DNA Investment Management Columbia, Maryland $8.98M AUM 26.05% 1-Year Est. Return
CAWM
Capital A Wealth Management New Castle, Pennsylvania $8.94M AUM
AI
Allostery Investments Stamford, Connecticut $7.85M AUM
CP
Castalian Partners Excelsior, Minnesota $7.36M AUM

Fir Tree Capital Management's Q4 2017 Portfolio in Review

As of Q4 2017, Fir Tree Capital Management held 89 positions worth $3.71B, up 5.8% from $3.51B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Fir Tree Capital Management deployed $116M of net new capital in Q4 2017, opening 14 new positions and adding to 9 existing holdings. Its largest new stake was Praxair Inc: 1,262,697 shares worth $195M.

By sector, the portfolio is most concentrated in Technology at 19% of assets, down from 20% a quarter earlier, followed by Consumer Discretionary and Financials.

On the sell side, the largest reduction was Altaba Inc, an estimated $75.6M trimmed.

  • Fir Tree Capital Management's largest Q4 2017 buy was Praxair Inc: 1,262,697 shares worth $195M.
  • Fir Tree Capital Management added most to MGM Resorts International in Q4 2017, an estimated $69.8M increase.
  • Fir Tree Capital Management's biggest Q4 2017 reduction was Altaba Inc, cutting an estimated $75.6M.
  • Fir Tree Capital Management fully exited Herc Holdings in Q4 2017, selling an estimated $58M.
  • Fir Tree Capital Management's ten largest holdings make up 56% of its $3.71B portfolio in Q4 2017.
  • Fir Tree Capital Management opened 14 new positions and closed 17 in Q4 2017.
  • Fir Tree Capital Management's portfolio value rose 5.8% quarter-over-quarter to $3.71B.

Based on Fir Tree Capital Management's 13F filing for Q4 2017, filed 14 Feb 2018.