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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
+7.66%
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
$1.17B
AUM Growth
-$255M
(-18%)
Cap. Flow
-$260M
Cap. Flow
% of AUM
-22.22%
Top 10 Holdings %
Top 10 Hldgs %
72.5%
Holding
73
New
11
Increased
2
Reduced
8
Closed
21
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Citigroup
C
|
+$135M |
| 2 |
Booking.com
BKNG
|
+$45.8M |
| 3 |
Laureate Education
LAUR
|
+$22.4M |
| 4 |
FSR
Fisker Inc.
FSR
|
+$16.9M |
| 5 |
STAY
Extended Stay America, Inc. Paired Share Unit
STAY
|
+$15.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Electronic Arts
EA
|
+$56.8M |
| 2 |
SHPG
Shire pic
SHPG
|
+$56.7M |
| 3 |
LKQ Corp
LKQ
|
+$50.6M |
| 4 |
NXP Semiconductors
NXPI
|
+$50.5M |
| 5 |
Mohawk Industries
MHK
|
+$48.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 21.61% |
| 2 | Financials | 19.72% |
| 3 | Consumer Discretionary | 15.16% |
| 4 | Utilities | 14.71% |
| 5 | Energy | 14.29% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
FirstEnergy
FE
$28.7B
| $172M | 14.71% |
4,132,255
-1,037,110
| -20% | -$41.2M |
|
|
2
Citigroup
C
$222B
| $135M | 11.54% |
+2,169,136
| New | +$135M |
|
3
Microsoft
MSFT
$2.92T
| $118M | 10.08% |
999,374
-41,420
| -4% | -$4.52M |
|
|
AABA
4
DELISTED
Altaba Inc
AABA
| $105M | 8.98% |
1,416,072
-614,543
| -30% | -$42.3M |
|
|
ROAN
5
DELISTED
Roan Resources, Inc.
ROAN
| $89.9M | 7.69% |
14,712,070
| – | – |
|
|
6
Mohawk Industries
MHK
$7.14B
| $85.5M | 7.31% |
677,520
-372,280
| -35% | -$48.5M |
|
7
Amplify Energy
AMPY
$152M
| $45.8M | 3.92% |
4,685,400
-1,707,678
| -27% | -$15.8M |
|
|
8
Booking.com
BKNG
$154B
| $44.8M | 3.83% |
+641,825
| New | +$45.8M |
|
|
VEAC
9
DELISTED
Vantage Energy Acquisition Corp. Class A
VEAC
| $28.1M | 2.4% |
2,750,000
| – | – |
|
|
I
10
DELISTED
INTELSAT S. A.
I
| $23.9M | 2.04% |
1,523,621
+233,136
| +18% | +$4.94M |
|
|
UPL
11
DELISTED
Ultra Petroleum Corp. Common Stock
UPL
| $22.2M | 1.9% |
36,379,590
| – | – |
|
|
12
Laureate Education
LAUR
$5.28B
| $22.2M | 1.9% |
+1,480,586
| New | +$22.4M |
|
|
GB
13
DELISTED
Global Blue Group Holding
GB
| $20.9M | 1.79% |
2,100,000
| – | – |
|
14
Custom Truck One Source
CTOS
$2.35B
| $18.3M | 1.57% |
1,800,000
| – | – |
|
|
VVNT
15
DELISTED
Vivint Smart Home, Inc. Class A Common Stock
VVNT
| $18.1M | 1.55% |
1,800,000
| – | – |
|
|
FSR
16
DELISTED
Fisker Inc.
FSR
| $17M | 1.46% |
+1,732,026
| New | +$16.9M |
|
17
Vertiv
VRT
$104B
| $17M | 1.45% |
1,694,794
-5,206
| -0.3% | -$51.6K |
|
|
STAY
18
DELISTED
Extended Stay America, Inc. Paired Share Unit
STAY
| $15.6M | 1.34% |
+871,446
| New | +$15.2M |
|
19
Virgin Galactic
SPCE
$320M
| $15.3M | 1.31% |
75,000
| – | – |
|
|
RWGE
20
DELISTED
Regalwood Global Energy Ltd. Class A Ordinary Shares
RWGE
| $15.2M | 1.3% |
1,500,000
| – | – |
|
21
Accel Entertainment
ACEL
$1.01B
| $14.3M | 1.23% |
1,400,000
| – | – |
|
22
Navient
NAVI
$822M
| $12.1M | 1.03% |
1,043,667
+640,770
| +159% | +$7.34M |
|
|
HK
23
DELISTED
Halcon Resources Corporation
HK
| $11.3M | 0.97% |
8,390,167
| – | – |
|
24
Utz Brands
UTZ
$1.25B
| $11M | 0.94% |
1,100,000
| – | – |
|
|
CHAP
25
DELISTED
Chaparral Energy, Inc.
CHAP
| $9.97M | 0.85% |
1,748,494
| – | – |
|
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Fir Tree Capital Management's Q1 2019 Portfolio in Review
As of Q1 2019, Fir Tree Capital Management held 73 positions worth $1.17B, down 18% from $1.42B the previous quarter. Its ten largest holdings account for 72% of the portfolio.
Fir Tree Capital Management withdrew a net $260M in Q1 2019, closing 21 positions and reducing 8 holdings. Its most notable exit was Electronic Arts, an estimated $56.8M position sold in full.
By sector, the portfolio is most concentrated in Technology at 22% of assets, up from 21% a quarter earlier, followed by Financials and Consumer Discretionary.
Against the trend, Fir Tree Capital Management opened a new position in Citigroup worth $135M.
- Fir Tree Capital Management's largest Q1 2019 buy was Citigroup: 2,169,136 shares worth $135M.
- Fir Tree Capital Management added most to Navient in Q1 2019, an estimated $7.34M increase.
- Fir Tree Capital Management's biggest Q1 2019 reduction was Mohawk Industries, cutting an estimated $48.5M.
- Fir Tree Capital Management fully exited Electronic Arts in Q1 2019, selling an estimated $56.8M.
- Fir Tree Capital Management's ten largest holdings make up 72% of its $1.17B portfolio in Q1 2019.
- Fir Tree Capital Management opened 11 new positions and closed 21 in Q1 2019.
- Fir Tree Capital Management's portfolio value fell 18% quarter-over-quarter to $1.17B.
Based on Fir Tree Capital Management's 13F filing for Q1 2019, filed 15 May 2019.