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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
-2.27%
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
$1.86B
AUM Growth
-$384M
(-17%)
Cap. Flow
-$273M
Cap. Flow
% of AUM
-14.67%
Top 10 Holdings %
Top 10 Hldgs %
62.81%
Holding
87
New
18
Increased
5
Reduced
16
Closed
15
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Citigroup
C
|
+$148M |
| 2 |
NXP Semiconductors
NXPI
|
+$72.7M |
| 3 |
GE Aerospace
GE
|
+$51.1M |
| 4 |
Goldman Sachs
GS
|
+$35M |
| 5 |
CHAP
Chaparral Energy, Inc.
CHAP
|
+$27M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AET
Aetna Inc
AET
|
+$190M |
| 2 |
SM Energy
SM
|
+$112M |
| 3 |
MGM Resorts International
MGM
|
+$84M |
| 4 |
PX
Praxair Inc
PX
|
+$62.9M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$59.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 27.83% |
| 2 | Financials | 16.16% |
| 3 | Utilities | 12.19% |
| 4 | Energy | 11.52% |
| 5 | Consumer Discretionary | 10.64% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
FirstEnergy
FE
$28.7B
| $227M | 12.19% |
6,096,703
+369,527
| +6% | +$13.5M |
|
|
2
NXP Semiconductors
NXPI
$65.4B
| $183M | 9.86% |
2,142,857
+758,143
| +55% | +$72.7M |
|
|
AABA
3
DELISTED
Altaba Inc
AABA
| $154M | 8.31% |
2,266,000
+206,000
| +10% | +$14.5M |
|
|
4
Citigroup
C
$222B
| $150M | 8.09% |
+2,095,155
| New | +$148M |
|
5
Microsoft
MSFT
$2.92T
| $133M | 7.17% |
1,165,269
-82,000
| -7% | -$8.89M |
|
6
LKQ Corp
LKQ
$6.77B
| $125M | 6.74% |
3,957,297
-161,093
| -4% | -$5.35M |
|
7
Amplify Energy
AMPY
$152M
| $57M | 3.06% |
6,393,078
| – | – |
|
8
Aptiv
APTV
$12.6B
| $51.8M | 2.79% |
617,500
| – | – |
|
|
9
GE Aerospace
GE
$377B
| $44.8M | 2.41% |
+828,388
| New | +$51.1M |
|
|
UPL
10
DELISTED
Ultra Petroleum Corp. Common Stock
UPL
| $40.7M | 2.19% |
36,379,590
| – | – |
|
|
I
11
DELISTED
INTELSAT S. A.
I
| $39.6M | 2.13% |
1,318,961
+646,848
| +96% | +$14.1M |
|
|
HK
12
DELISTED
Halcon Resources Corporation
HK
| $37.5M | 2.02% |
8,390,167
| – | – |
|
|
13
CALL
GE Aerospace
GE
$377B
| $33.9M | 1.82% |
+625,986
| New | +$38.6M |
|
|
14
Goldman Sachs
GS
$305B
| $33.8M | 1.82% |
+150,600
| New | +$35M |
|
|
PX
15
DELISTED
Praxair Inc
PX
| $33.1M | 1.78% |
205,990
-391,442
| -66% | -$62.9M |
|
|
SHPG
16
DELISTED
Shire pic
SHPG
| $26.5M | 1.42% |
+146,074
| New | +$25.3M |
|
|
CHAP
17
DELISTED
Chaparral Energy, Inc.
CHAP
| $26.5M | 1.42% |
+1,502,683
| New | +$27M |
|
|
VEAC
18
DELISTED
Vantage Energy Acquisition Corp. Class A
VEAC
| $25M | 1.35% |
2,500,000
| – | – |
|
19
Kinetik
KNTK
$3.64B
| $23.8M | 1.28% |
235,000
-15,000
| -6% | -$1.52M |
|
|
NRCG
20
DELISTED
NRC Group Holdings Corp.
NRCG
| $20.4M | 1.1% |
2,000,000
| – | – |
|
|
GB
21
DELISTED
Global Blue Group Holding
GB
| $20.3M | 1.09% |
2,100,000
| – | – |
|
|
GTYH
22
DELISTED
GTY Technology Holdings, Inc. Common Stock
GTYH
| $19.3M | 1.04% |
1,900,059
| – | – |
|
|
USWS
23
DELISTED
U.S. Well Services, Inc. Class A Common Stock
USWS
| $19.1M | 1.03% |
90,476
| – | – |
|
|
FSAC
24
DELISTED
Federal Street Acquisition Corp. Common Stock
FSAC
| $18.1M | 0.98% |
1,800,000
| – | – |
|
25
Custom Truck One Source
CTOS
$2.35B
| $17.8M | 0.96% |
1,800,000
| – | – |
|
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Fir Tree Capital Management's Q3 2018 Portfolio in Review
As of Q3 2018, Fir Tree Capital Management held 87 positions worth $1.86B, down 17% from $2.24B the previous quarter. Its ten largest holdings account for 63% of the portfolio.
Fir Tree Capital Management withdrew a net $273M in Q3 2018, closing 15 positions and reducing 16 holdings. Its most notable exit was Aetna Inc, an estimated $190M position sold in full.
By sector, the portfolio is most concentrated in Technology at 28% of assets, up from 22% a quarter earlier, followed by Financials and Utilities.
Against the trend, Fir Tree Capital Management opened a new position in Citigroup worth $150M.
- Fir Tree Capital Management's largest Q3 2018 buy was Citigroup: 2,095,155 shares worth $150M.
- Fir Tree Capital Management added most to NXP Semiconductors in Q3 2018, an estimated $72.7M increase.
- Fir Tree Capital Management's biggest Q3 2018 reduction was SM Energy, cutting an estimated $112M.
- Fir Tree Capital Management fully exited Aetna Inc in Q3 2018, selling an estimated $190M.
- Fir Tree Capital Management's ten largest holdings make up 63% of its $1.86B portfolio in Q3 2018.
- Fir Tree Capital Management opened 18 new positions and closed 15 in Q3 2018.
- Fir Tree Capital Management's portfolio value fell 17% quarter-over-quarter to $1.86B.
Based on Fir Tree Capital Management's 13F filing for Q3 2018, filed 14 Nov 2018.