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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
+7.55%
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
$1.01B
AUM Growth
-$12.2M
(-1.2%)
Cap. Flow
-$54M
Cap. Flow
% of AUM
-5.33%
Top 10 Holdings %
Top 10 Hldgs %
66.99%
Holding
68
New
6
Increased
8
Reduced
13
Closed
16
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
SLM Corp
SLM
|
+$92.1M |
| 2 |
VER
VEREIT, Inc.
VER
|
+$85.7M |
| 3 |
Johnson & Johnson
JNJ
|
+$62.1M |
| 4 |
L3Harris
LHX
|
+$30.5M |
| 5 |
Laureate Education
LAUR
|
+$25M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
FirstEnergy
FE
|
+$134M |
| 2 |
AGN
Allergan plc
AGN
|
+$51.9M |
| 3 |
Mohawk Industries
MHK
|
+$51.7M |
| 4 |
AABA
Altaba Inc
AABA
|
+$41.1M |
| 5 |
ROAN
Roan Resources, Inc.
ROAN
|
+$18.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 17.58% |
| 2 | Technology | 14.8% |
| 3 | Industrials | 12.89% |
| 4 | Financials | 9.32% |
| 5 | Consumer Staples | 8.3% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
SLM Corp
SLM
$4.74B
| $94.5M | 9.32% |
+10,600,803
| New | +$92.1M |
|
|
VER
2
DELISTED
VEREIT, Inc.
VER
| $82.6M | 8.15% |
+1,787,134
| New | +$85.7M |
|
|
3
Laureate Education
LAUR
$5.28B
| $72.8M | 7.18% |
4,134,958
+1,518,900
| +58% | +$25M |
|
4
Amplify Energy
AMPY
$152M
| $68.8M | 6.79% |
10,415,297
-496,817
| -5% | -$3.2M |
|
|
5
Johnson & Johnson
JNJ
$643B
| $66.8M | 6.59% |
+457,876
| New | +$62.1M |
|
|
CTXS
6
DELISTED
Citrix Systems Inc
CTXS
| $65.8M | 6.5% |
593,740
-23,500
| -4% | -$2.53M |
|
|
RTN
7
DELISTED
Raytheon Company
RTN
| $63.7M | 6.28% |
289,873
+37,900
| +15% | +$8.01M |
|
8
Microsoft
MSFT
$2.92T
| $62.7M | 6.18% |
397,395
-15,647
| -4% | -$2.3M |
|
9
T-Mobile US
TMUS
$196B
| $51.6M | 5.09% |
658,255
+178,255
| +37% | +$14M |
|
|
AGN
10
DELISTED
Allergan plc
AGN
| $49.7M | 4.9% |
260,000
-287,800
| -53% | -$51.9M |
|
11
Booking.com
BKNG
$154B
| $41.4M | 4.09% |
504,250
+139,875
| +38% | +$11M |
|
12
Centene
CNC
$31.6B
| $35.2M | 3.47% |
560,136
-86,575
| -13% | -$4.7M |
|
|
13
L3Harris
LHX
$56.9B
| $30.1M | 2.97% |
+152,000
| New | +$30.5M |
|
|
ECHO
14
EchoStar
ECHO
$24.9B
| $28.7M | 2.83% |
663,050
-240,447
| -27% | -$9.65M |
|
15
Elevance Health
ELV
$83.7B
| $21.5M | 2.13% |
71,322
+36,389
| +104% | +$10M |
|
|
GB
16
DELISTED
Global Blue Group Holding
GB
| $21.5M | 2.12% |
2,079,060
| – | – |
|
|
FSR
17
DELISTED
Fisker Inc.
FSR
| $17.6M | 1.74% |
1,732,026
| – | – |
|
18
PUT
Alibaba
BABA
$276B
| $16.6M | 1.63% |
+78,100
| New | +$14.7M |
|
19
Utz Brands
UTZ
$1.25B
| $11.3M | 1.12% |
1,100,000
| – | – |
|
|
PAE
20
DELISTED
PAE Incorporated Class A Common Stock
PAE
| $8.65M | 0.85% |
836,828
| – | – |
|
|
VVNT
21
DELISTED
Vivint Smart Home, Inc. Class A Common Stock
VVNT
| $8.65M | 0.85% |
842,291
-21,567
| -2% | -$221K |
|
|
DM
22
DELISTED
Desktop Metal, Inc.
DM
| $7.49M | 0.74% |
75,000
| – | – |
|
23
Vertiv
VRT
$104B
| $7.2M | 0.71% |
653,000
-1,030,000
| -61% | -$10.8M |
|
|
APXTU
24
DELISTED
Apex Technology Acquisition Corporation Unit
APXTU
| $6.81M | 0.67% |
650,000
| – | – |
|
25
DraftKings
DKNG
$12.2B
| $6.38M | 0.63% |
596,516
-153,484
| -20% | -$1.55M |
|
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Fir Tree Capital Management's Q4 2019 Portfolio in Review
As of Q4 2019, Fir Tree Capital Management held 68 positions worth $1.01B, down 1.2% from $1.03B the previous quarter. Its ten largest holdings account for 67% of the portfolio.
Fir Tree Capital Management withdrew a net $54M in Q4 2019, closing 16 positions and reducing 13 holdings. Its most notable exit was FirstEnergy, an estimated $134M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 18% of assets, up from 15% a quarter earlier, followed by Technology and Industrials.
Against the trend, Fir Tree Capital Management opened a new position in SLM Corp worth $94.5M.
- Fir Tree Capital Management's largest Q4 2019 buy was SLM Corp: 10,600,803 shares worth $94.5M.
- Fir Tree Capital Management added most to Laureate Education in Q4 2019, an estimated $25M increase.
- Fir Tree Capital Management's biggest Q4 2019 reduction was Allergan plc, cutting an estimated $51.9M.
- Fir Tree Capital Management fully exited FirstEnergy in Q4 2019, selling an estimated $134M.
- Fir Tree Capital Management's ten largest holdings make up 67% of its $1.01B portfolio in Q4 2019.
- Fir Tree Capital Management opened 6 new positions and closed 16 in Q4 2019.
- Fir Tree Capital Management's portfolio value fell 1.2% quarter-over-quarter to $1.01B.
Based on Fir Tree Capital Management's 13F filing for Q4 2019, filed 30 Jan 2020.