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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
+1.23%
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
$1.98B
AUM Growth
+$696M
(+54%)
Cap. Flow
+$557M
Cap. Flow
% of AUM
28.09%
Top 10 Holdings %
Top 10 Hldgs %
45.7%
Holding
141
New
67
Increased
13
Reduced
12
Closed
27
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
FirstEnergy
FE
|
+$137M |
| 2 |
Corpay
CPAY
|
+$84.4M |
| 3 |
PSTH
Pershing Square Tontine Holdings, Ltd.
PSTH
|
+$78.9M |
| 4 |
RTX Corp
RTX
|
+$44.1M |
| 5 |
Fidelity National Information Services
FIS
|
+$41M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$30M |
| 2 |
Dell
DELL
|
+$27.2M |
| 3 |
Comcast
CMCSA
|
+$27.2M |
| 4 |
WPF.U
Foley Trasimene Acquisition Corp.
WPF.U
|
+$19.2M |
| 5 |
JWS.U
Jaws Acquisition Corp. Units, each consisting of one Class A ordinary share and one-third of one red
JWS.U
|
+$18.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Utilities | 15.84% |
| 2 | Financials | 14.75% |
| 3 | Technology | 12.94% |
| 4 | Communication Services | 11.64% |
| 5 | Industrials | 8.47% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Edison International
EIX
$30.7B
| $131M | 6.61% |
2,580,141
+45,496
| +2% | +$2.42M |
|
|
2
FirstEnergy
FE
$28.7B
| $125M | 6.31% |
+4,357,500
| New | +$137M |
|
3
SLM Corp
SLM
$4.74B
| $98.9M | 4.99% |
12,223,665
-169,747
| -1% | -$1.24M |
|
|
4
RTX Corp
RTX
$295B
| $86M | 4.34% |
1,495,146
+724,495
| +94% | +$44.1M |
|
5
PUT
Amazon
AMZN
$2.48T
| $81.9M | 4.13% |
+520,000
| New | +$82M |
|
|
6
Corpay
CPAY
$25.1B
| $81.3M | 4.1% |
+341,592
| New | +$84.4M |
|
7
Expedia Group
EXPE
$35.5B
| $80.2M | 4.04% |
874,700
+183,800
| +27% | +$16.5M |
|
|
PSTH
8
DELISTED
Pershing Square Tontine Holdings, Ltd.
PSTH
| $79.7M | 4.02% |
+3,512,050
| New | +$78.9M |
|
9
Live Nation Entertainment
LYV
$42.1B
| $77.6M | 3.91% |
1,440,400
-195,000
| -12% | -$10.1M |
|
|
10
Dell
DELL
$253B
| $64.6M | 3.26% |
1,883,118
-872,281
| -32% | -$27.2M |
|
11
PUT
Tesla
TSLA
$1.21T
| $64.4M | 3.24% |
+450,000
| New | +$53.1M |
|
12
T-Mobile US
TMUS
$196B
| $61.8M | 3.12% |
540,586
-5,179
| -0.9% | -$574K |
|
13
Exelon
EXC
$48.4B
| $57.9M | 2.92% |
2,270,754
+627,276
| +38% | +$16.6M |
|
|
14
Comcast
CMCSA
$85.8B
| $47.1M | 2.37% |
1,017,724
-624,508
| -38% | -$27.2M |
|
15
Centene
CNC
$31.6B
| $41.8M | 2.11% |
716,668
+93,623
| +15% | +$5.82M |
|
|
16
Fidelity National Information Services
FIS
$23.2B
| $41.7M | 2.1% |
+283,399
| New | +$41M |
|
17
Jacobs Solutions
J
$16.6B
| $40.7M | 2.05% |
530,398
-8,150
| -2% | -$596K |
|
18
Lamar Advertising Co
LAMR
$16.5B
| $34.9M | 1.76% |
+527,800
| New | +$35.1M |
|
|
CTXS
19
DELISTED
Citrix Systems Inc
CTXS
| $34.8M | 1.75% |
252,748
+27,163
| +12% | +$3.88M |
|
|
CUK
20
DELISTED
Carnival PLC
CUK
| $34.1M | 1.72% |
+2,638,600
| New | +$33.8M |
|
21
Sphere Entertainment
SPHR
$5.06B
| $31.5M | 1.59% |
+460,360
| New | +$33.2M |
|
|
PRPB
22
DELISTED
CC Neuberger Principal Holdings II Class A Ordinary Shares
PRPB
| $30.7M | 1.55% |
+3,051,723
| New | +$30.8M |
|
|
SVACU
23
DELISTED
Starboard Value Acquisition Corp. Unit
SVACU
| $30.2M | 1.52% |
+2,990,000
| New | +$30.3M |
|
|
GRSV
24
DELISTED
Gores Holdings V, Inc.
GRSV
| $20.2M | 1.02% |
+2,000,000
| New | +$20.1M |
|
25
Elevance Health
ELV
$83.7B
| $18.4M | 0.93% |
68,365
-4,557
| -6% | -$1.23M |
|
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Fir Tree Capital Management's Q3 2020 Portfolio in Review
As of Q3 2020, Fir Tree Capital Management held 141 positions worth $1.98B, up 54% from $1.29B the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Fir Tree Capital Management deployed $557M of net new capital in Q3 2020, opening 67 new positions and adding to 13 existing holdings. Its largest new stake was FirstEnergy: 4,357,500 shares worth $125M.
By sector, the portfolio is most concentrated in Utilities at 16% of assets, up from 14% a quarter earlier, followed by Financials and Technology.
On the sell side, the largest reduction was Dell, an estimated $27.2M trimmed.
- Fir Tree Capital Management's largest Q3 2020 buy was FirstEnergy: 4,357,500 shares worth $125M.
- Fir Tree Capital Management added most to RTX Corp in Q3 2020, an estimated $44.1M increase.
- Fir Tree Capital Management's biggest Q3 2020 reduction was Dell, cutting an estimated $27.2M.
- Fir Tree Capital Management fully exited Microsoft in Q3 2020, selling an estimated $30M.
- Fir Tree Capital Management's ten largest holdings make up 46% of its $1.98B portfolio in Q3 2020.
- Fir Tree Capital Management opened 67 new positions and closed 27 in Q3 2020.
- Fir Tree Capital Management's portfolio value rose 54% quarter-over-quarter to $1.98B.
Based on Fir Tree Capital Management's 13F filing for Q3 2020, filed 16 Nov 2020.