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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
-17.16%
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
$1.42B
AUM Growth
-$434M
Cap. Flow
-$196M
Cap. Flow %
-13.76%
Top 10 Hldgs %
65.04%
Holding
87
New
14
Increased
4
Reduced
8
Closed
24

Top Buys

Rank Stock Value
1
ROAN
Roan Resources, Inc.
ROAN
+$159M
2
MHK icon
Mohawk Industries
MHK
+$140M
3
EA icon
Electronic Arts
EA
+$66M
4
SHPG
Shire pic
SHPG
+$31.4M
5
GS icon
Goldman Sachs
GS
+$14.6M

Top Sells

Rank Stock Value
1
C icon
Citigroup
C
+$150M
2
NXPI icon
NXP Semiconductors
NXPI
+$115M
3
LKQ icon
LKQ Corp
LKQ
+$49.6M
4
GE icon
GE Aerospace
GE
+$44.8M
5
FE icon
FirstEnergy
FE
+$35.1M

Sector Composition

Rank Sector Weight
1 Technology 21.46%
2 Consumer Discretionary 16.04%
3 Energy 14.65%
4 Utilities 13.63%
5 Financials 11.31%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FE icon
1
FirstEnergy
FE
$28.7B
$194M 13.63%
5,169,365
-927,338
-15% -$35.1M
ROAN
2
DELISTED
Roan Resources, Inc.
ROAN
$123M 8.66%
+14,712,070
New +$159M
MHK icon
3
Mohawk Industries
MHK
$7.14B
$123M 8.62%
+1,049,800
New +$140M
AABA
4
DELISTED
Altaba Inc
AABA
$118M 8.26%
2,030,615
-235,385
-10% -$14.5M
MSFT icon
5
Microsoft
MSFT
$2.92T
$106M 7.42%
1,040,794
-124,475
-11% -$13.3M
EA icon
6
Electronic Arts
EA
$52.4B
$56.8M 3.99%
+720,000
New +$66M
SHPG
7
DELISTED
Shire pic
SHPG
$56.7M 3.98%
325,558
+179,484
+123% +$31.4M
LKQ icon
8
LKQ Corp
LKQ
$6.77B
$50.6M 3.56%
2,134,016
-1,823,281
-46% -$49.6M
NXPI icon
9
NXP Semiconductors
NXPI
$65.4B
$50.5M 3.55%
689,583
-1,453,274
-68% -$115M
AMPY icon
10
Amplify Energy
AMPY
$152M
$48M 3.37%
6,393,078
– –
APTV icon
11
Aptiv
APTV
$12.6B
$38M 2.67%
617,500
– –
GS icon
12
Goldman Sachs
GS
$305B
$37.3M 2.62%
223,210
+72,610
+48% +$14.6M
UPL
13
DELISTED
Ultra Petroleum Corp. Common Stock
UPL
$27.7M 1.94%
36,379,590
– –
VEAC
14
DELISTED
Vantage Energy Acquisition Corp. Class A
VEAC
$27.6M 1.94%
2,750,000
+250,000
+10% +$2.51M
I
15
DELISTED
INTELSAT S. A.
I
$27.6M 1.94%
1,290,485
-28,476
-2% -$770K
GB
16
DELISTED
Global Blue Group Holding
GB
$20.3M 1.42%
2,100,000
– –
FSAC
17
DELISTED
Federal Street Acquisition Corp. Common Stock
FSAC
$18.2M 1.28%
1,800,000
– –
CTOS icon
18
Custom Truck One Source
CTOS
$2.35B
$18M 1.26%
1,800,000
– –
VVNT
19
DELISTED
Vivint Smart Home, Inc. Class A Common Stock
VVNT
$17.7M 1.25%
1,800,000
– –
SPAQ.U
20
DELISTED
Spartan Energy Acquisition Corp Units (each consisting of one Class A Common Stock and one-third of
SPAQ.U
$17.5M 1.23%
1,750,000
– –
VRT icon
21
Vertiv
VRT
$104B
$16.7M 1.17%
1,700,000
– –
SPCE icon
22
Virgin Galactic
SPCE
$320M
$15M 1.05%
75,000
– –
RWGE
23
DELISTED
Regalwood Global Energy Ltd. Class A Ordinary Shares
RWGE
$14.7M 1.03%
1,500,000
– –
HK
24
DELISTED
Halcon Resources Corporation
HK
$14.3M 1%
8,390,167
– –
ACEL icon
25
Accel Entertainment
ACEL
$1.01B
$14M 0.98%
1,400,000
– –
1
2 3 4

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AVM
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PC
Prysm Capital Princeton, New Jersey $10.6M AUM 2.38% 1-Year Est. Return
WHP
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ADIM
Alpha DNA Investment Management Columbia, Maryland $8.98M AUM 26.05% 1-Year Est. Return
CAWM
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AI
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CP
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Fir Tree Capital Management's Q4 2018 Portfolio in Review

As of Q4 2018, Fir Tree Capital Management held 87 positions worth $1.42B, down 23% from $1.86B the previous quarter. Its ten largest holdings account for 65% of the portfolio.

Fir Tree Capital Management withdrew a net $196M in Q4 2018, closing 24 positions and reducing 8 holdings. Its most notable exit was Citigroup, an estimated $150M position sold in full.

By sector, the portfolio is most concentrated in Technology at 21% of assets, down from 28% a quarter earlier, followed by Consumer Discretionary and Energy.

Against the trend, Fir Tree Capital Management opened a new position in Roan Resources, Inc. worth $123M.

  • Fir Tree Capital Management's largest Q4 2018 buy was Roan Resources, Inc.: 14,712,070 shares worth $123M.
  • Fir Tree Capital Management added most to Shire pic in Q4 2018, an estimated $31.4M increase.
  • Fir Tree Capital Management's biggest Q4 2018 reduction was NXP Semiconductors, cutting an estimated $115M.
  • Fir Tree Capital Management fully exited Citigroup in Q4 2018, selling an estimated $150M.
  • Fir Tree Capital Management's ten largest holdings make up 65% of its $1.42B portfolio in Q4 2018.
  • Fir Tree Capital Management opened 14 new positions and closed 24 in Q4 2018.
  • Fir Tree Capital Management's portfolio value fell 23% quarter-over-quarter to $1.42B.

Based on Fir Tree Capital Management's 13F filing for Q4 2018, filed 14 Feb 2019.