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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
+3.26%
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
$2.5B
AUM Growth
+$443M
(+21%)
Cap. Flow
+$249M
Cap. Flow
% of AUM
9.96%
Top 10 Holdings %
Top 10 Hldgs %
25.28%
Holding
511
New
343
Increased
13
Reduced
40
Closed
80
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
CIT
CIT Group Inc.
CIT
|
+$53.4M |
| 2 |
Exelon
EXC
|
+$50.1M |
| 3 |
NAAC
North Atlantic Acquisition Corporation Class A Ordinary Share
NAAC
|
+$29M |
| 4 |
PCPC
Periphas Capital Partnering Corporation
PCPC
|
+$26.7M |
| 5 |
EAC
Edify Acquisition Corp. Class A Common Stock
EAC
|
+$23.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SLM Corp
SLM
|
+$96.6M |
| 2 |
Expedia Group
EXPE
|
+$68.6M |
| 3 |
Sphere Entertainment
SPHR
|
+$61.3M |
| 4 |
Lamar Advertising Co
LAMR
|
+$47M |
| 5 |
FirstEnergy
FE
|
+$40.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 23.59% |
| 2 | Healthcare | 9.15% |
| 3 | Industrials | 8.26% |
| 4 | Technology | 8.07% |
| 5 | Communication Services | 7.88% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
RTX Corp
RTX
$295B
| $89.7M | 3.58% |
1,160,430
-163,200
| -12% | -$11.9M |
|
2
Comcast
CMCSA
$85.8B
| $76.8M | 3.07% |
1,419,168
-133,932
| -9% | -$7.08M |
|
3
AbbVie
ABBV
$465B
| $69.1M | 2.76% |
638,680
+10,451
| +2% | +$1.12M |
|
4
Outfront Media
OUT
$5.72B
| $68.9M | 2.75% |
3,207,221
+929,348
| +41% | +$18.9M |
|
|
CIT
5
DELISTED
CIT Group Inc.
CIT
| $61.4M | 2.45% |
+1,191,290
| New | +$53.4M |
|
6
Dell
DELL
$253B
| $58.4M | 2.33% |
1,307,848
-540,760
| -29% | -$22.2M |
|
7
Live Nation Entertainment
LYV
$42.1B
| $56.6M | 2.26% |
669,100
-91,500
| -12% | -$7.37M |
|
|
8
FirstEnergy
FE
$28.7B
| $54.1M | 2.16% |
1,559,889
-1,248,589
| -44% | -$40.8M |
|
|
9
Exelon
EXC
$48.4B
| $52M | 2.08% |
+1,667,178
| New | +$50.1M |
|
10
Elevance Health
ELV
$83.7B
| $46M | 1.84% |
128,070
-6,682
| -5% | -$2.15M |
|
11
Centene
CNC
$31.6B
| $43.5M | 1.74% |
680,004
-24,681
| -4% | -$1.53M |
|
12
T-Mobile US
TMUS
$196B
| $41M | 1.64% |
326,898
-39,822
| -11% | -$5.02M |
|
13
Fidelity National Information Services
FIS
$23.2B
| $40.8M | 1.63% |
290,407
-22,558
| -7% | -$3.08M |
|
|
14
Lamar Advertising Co
LAMR
$16.5B
| $36.7M | 1.47% |
391,242
-533,330
| -58% | -$47M |
|
15
Jacobs Solutions
J
$16.6B
| $35.9M | 1.43% |
335,783
-125,762
| -27% | -$12M |
|
|
PRPB
16
DELISTED
CC Neuberger Principal Holdings II Class A Ordinary Shares
PRPB
| $35.2M | 1.41% |
3,568,945
+104,700
| +3% | +$1.1M |
|
|
NAAC
17
DELISTED
North Atlantic Acquisition Corporation Class A Ordinary Share
NAAC
| $29M | 1.16% |
+2,970,000
| New | +$29M |
|
18
Sabre
SABR
$743M
| $28.6M | 1.14% |
1,932,696
-363,109
| -16% | -$4.92M |
|
19
PUT
Tesla
TSLA
$1.21T
| $27.5M | 1.1% |
+123,600
| New | +$31M |
|
20
PUT
State Street Financial Select Sector SPDR ETF
XLF
$57.4B
| $27.1M | 1.08% |
+796,000
| New | +$25.6M |
|
|
PCPC
21
DELISTED
Periphas Capital Partnering Corporation
PCPC
| $25.4M | 1.02% |
+1,071,185
| New | +$26.7M |
|
22
Boston Scientific
BSX
$68.5B
| $24.2M | 0.97% |
626,024
-365,877
| -37% | -$13.8M |
|
23
Microsoft
MSFT
$2.92T
| $23.5M | 0.94% |
+99,612
| New | +$23.1M |
|
|
EAC
24
DELISTED
Edify Acquisition Corp. Class A Common Stock
EAC
| $22.9M | 0.92% |
+2,376,000
| New | +$23.2M |
|
25
Liberty Media Series C
FWONK
$25.4B
| $15.8M | 0.63% |
378,353
-88,015
| -19% | -$3.72M |
|
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Fir Tree Capital Management's Q1 2021 Portfolio in Review
As of Q1 2021, Fir Tree Capital Management held 511 positions worth $2.5B, up 21% from $2.06B the previous quarter. Its ten largest holdings account for 25% of the portfolio.
Fir Tree Capital Management deployed $249M of net new capital in Q1 2021, opening 343 new positions and adding to 13 existing holdings. Its largest new stake was CIT Group Inc.: 1,191,290 shares worth $61.4M.
By sector, the portfolio is most concentrated in Financials at 24% of assets, up from 14% a quarter earlier, followed by Healthcare and Industrials.
On the sell side, the largest reduction was SLM Corp, an estimated $96.6M trimmed.
- Fir Tree Capital Management's largest Q1 2021 buy was CIT Group Inc.: 1,191,290 shares worth $61.4M.
- Fir Tree Capital Management added most to Outfront Media in Q1 2021, an estimated $18.9M increase.
- Fir Tree Capital Management's biggest Q1 2021 reduction was SLM Corp, cutting an estimated $96.6M.
- Fir Tree Capital Management fully exited Expedia Group in Q1 2021, selling an estimated $68.6M.
- Fir Tree Capital Management's ten largest holdings make up 25% of its $2.5B portfolio in Q1 2021.
- Fir Tree Capital Management opened 343 new positions and closed 80 in Q1 2021.
- Fir Tree Capital Management's portfolio value rose 21% quarter-over-quarter to $2.5B.
Based on Fir Tree Capital Management's 13F filing for Q1 2021, filed 17 May 2021.