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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
+3.2%
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
$2.24B
AUM Growth
-$178M
(-7.4%)
Cap. Flow
-$143M
Cap. Flow
% of AUM
-6.38%
Top 10 Holdings %
Top 10 Hldgs %
59.4%
Holding
81
New
12
Increased
7
Reduced
9
Closed
12
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
AABA
Altaba Inc
AABA
|
+$154M |
| 2 |
NXP Semiconductors
NXPI
|
+$117M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$68.9M |
| 4 |
KANG
iKang Healthcare Group, Inc.
KANG
|
+$46M |
| 5 |
SiriusXM
SIRI
|
+$40.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TWX
Time Warner Inc
TWX
|
+$188M |
| 2 |
Equinix
EQIX
|
+$136M |
| 3 |
PG&E
PCG
|
+$79.9M |
| 4 |
Microsoft
MSFT
|
+$54.6M |
| 5 |
Oracle
ORCL
|
+$43.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 21.83% |
| 2 | Energy | 17.83% |
| 3 | Financials | 15.49% |
| 4 | Consumer Discretionary | 13.16% |
| 5 | Utilities | 9.17% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
FirstEnergy
FE
$28.7B
| $206M | 9.17% |
5,727,176
-971,880
| -15% | -$33.3M |
|
|
AET
2
DELISTED
Aetna Inc
AET
| $190M | 8.48% |
1,036,535
-39,400
| -4% | -$7.02M |
|
|
3
NXP Semiconductors
NXPI
$65.4B
| $151M | 6.75% |
1,384,714
+1,059,714
| +326% | +$117M |
|
|
AABA
4
DELISTED
Altaba Inc
AABA
| $151M | 6.72% |
+2,060,000
| New | +$154M |
|
5
LKQ Corp
LKQ
$6.77B
| $131M | 5.86% |
4,118,390
-39,000
| -0.9% | -$1.3M |
|
|
6
Microsoft
MSFT
$2.92T
| $123M | 5.48% |
1,247,269
-563,354
| -31% | -$54.6M |
|
7
SM Energy
SM
$7.11B
| $114M | 5.09% |
4,444,922
+440,363
| +11% | +$10.3M |
|
|
PX
8
DELISTED
Praxair Inc
PX
| $94.5M | 4.21% |
597,432
-224,650
| -27% | -$34.7M |
|
9
Amplify Energy
AMPY
$152M
| $87M | 3.88% |
6,393,078
| – | – |
|
|
UPL
10
DELISTED
Ultra Petroleum Corp. Common Stock
UPL
| $84M | 3.75% |
36,379,590
| – | – |
|
11
MGM Resorts International
MGM
$11.8B
| $84M | 3.74% |
2,891,931
-1,315,000
| -31% | -$42.5M |
|
|
12
Alphabet (Google) Class C
GOOG
$4.07T
| $71.1M | 3.17% |
+1,274,400
| New | +$68.9M |
|
13
Aptiv
APTV
$12.6B
| $56.6M | 2.52% |
617,500
| – | – |
|
|
KANG
14
DELISTED
iKang Healthcare Group, Inc.
KANG
| $46.7M | 2.08% |
+2,282,395
| New | +$46M |
|
15
Magnolia Oil & Gas
MGY
$5.55B
| $44.4M | 1.98% |
4,086,364
+738,998
| +22% | +$7.7M |
|
|
16
SiriusXM
SIRI
$10.7B
| $40.6M | 1.81% |
+600,000
| New | +$40.5M |
|
|
17
PUT
SiriusXM
SIRI
$10.7B
| $40.6M | 1.81% |
+600,000
| New | +$40.5M |
|
|
HK
18
DELISTED
Halcon Resources Corporation
HK
| $36.8M | 1.64% |
8,390,167
+5,548,290
| +195% | +$26.9M |
|
|
ESES
19
DELISTED
Eco-Stim Energy Solutions Inc. Common Stock
ESES
| $32.5M | 1.45% |
50,025,278
| – | – |
|
|
LGCY
20
DELISTED
Legacy Reserves Inc. Common Stock
LGCY
| $26.2M | 1.17% |
3,800,000
| – | – |
|
21
Verra Mobility
VRRM
$635M
| $24.9M | 1.11% |
2,450,000
+250,000
| +11% | +$2.52M |
|
22
Kinetik
KNTK
$3.64B
| $24.8M | 1.1% |
250,000
| – | – |
|
|
VEAC
23
DELISTED
Vantage Energy Acquisition Corp. Class A
VEAC
| $24.7M | 1.1% |
2,500,000
| – | – |
|
|
GB
24
DELISTED
Global Blue Group Holding
GB
| $20.5M | 0.91% |
+2,100,000
| New | +$20.5M |
|
|
NRCG
25
DELISTED
NRC Group Holdings Corp.
NRCG
| $20.3M | 0.9% |
2,000,000
+1,000,000
| +100% | +$9.99M |
|
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Fir Tree Capital Management's Q2 2018 Portfolio in Review
As of Q2 2018, Fir Tree Capital Management held 81 positions worth $2.24B, down 7.4% from $2.42B the previous quarter. Its ten largest holdings account for 59% of the portfolio.
Fir Tree Capital Management withdrew a net $143M in Q2 2018, closing 12 positions and reducing 9 holdings. Its most notable exit was Time Warner Inc, an estimated $188M position sold in full.
By sector, the portfolio is most concentrated in Technology at 22% of assets, up from 12% a quarter earlier, followed by Energy and Financials.
Against the trend, Fir Tree Capital Management opened a new position in Altaba Inc worth $151M.
- Fir Tree Capital Management's largest Q2 2018 buy was Altaba Inc: 2,060,000 shares worth $151M.
- Fir Tree Capital Management added most to NXP Semiconductors in Q2 2018, an estimated $117M increase.
- Fir Tree Capital Management's biggest Q2 2018 reduction was Microsoft, cutting an estimated $54.6M.
- Fir Tree Capital Management fully exited Time Warner Inc in Q2 2018, selling an estimated $188M.
- Fir Tree Capital Management's ten largest holdings make up 59% of its $2.24B portfolio in Q2 2018.
- Fir Tree Capital Management opened 12 new positions and closed 12 in Q2 2018.
- Fir Tree Capital Management's portfolio value fell 7.4% quarter-over-quarter to $2.24B.
Based on Fir Tree Capital Management's 13F filing for Q2 2018, filed 14 Aug 2018.