Alpha Wave Global Portfolio holdings
Alpha Wave Global, known as Falcon Edge Capital until 2021, is an alternative asset manager with private equity, private credit, and insurance and retirement businesses. It was co-founded by Rick Gerson, its chairman and chief executive, with Navroz Udwadia and Ryan Khoury, and the three are among its principal owners alongside Judan Alternatives, an Abu Dhabi company that is a subsidiary of International Holding Company. Its Moraine funds take long and short positions in special situations such as spin-offs and acquisitions. Its private credit business aims to earn income by originating senior secured loans to companies. Its clients are investment funds, sovereign wealth funds and foreign official institutions.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ENDP
Endo International plc
ENDP
|
+$52.5M |
| 2 |
Meta Platforms (Facebook)
META
|
+$44.4M |
| 3 |
Groupon
GRPN
|
+$31.9M |
| 4 |
Enovis
ENOV
|
+$31.3M |
| 5 |
Las Vegas Sands
LVS
|
+$29.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
YHOO
Yahoo Inc
YHOO
|
+$42M |
| 2 |
Yum! Brands
YUM
|
+$29.2M |
| 3 |
Owens Corning
OC
|
+$27.4M |
| 4 |
Herc Holdings
HRI
|
+$26.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 26.37% |
| 2 | Financials | 19.9% |
| 3 | Consumer Discretionary | 14.49% |
| 4 | Healthcare | 11.6% |
| 5 | Energy | 11.03% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Cheniere Energy
LNG
$63B
| $112M | 11.03% |
3,281,914
+466,514
| +17% | +$13.8M |
2013 Q2
1 quarter
|
|
2
American International
AIG
$43B
| $87.9M | 8.65% |
1,807,100
+322,500
| +22% | +$15.3M |
2013 Q2
1 quarter
|
|
3
Avis
CAR
$4.43B
| $82.1M | 8.08% |
2,847,200
+770,000
| +37% | +$23M |
2013 Q2
1 quarter
|
|
|
4
Groupon
GRPN
$496M
| $74.7M | 7.35% |
333,177
+160,127
| +93% | +$31.9M |
2013 Q2
1 quarter
|
|
5
Trip.com Group
TCOM
$27.4B
| $67.2M | 6.62% |
2,304,000
+284,000
| +14% | +$6.11M |
2013 Q2
1 quarter
|
|
6
Berkshire Hathaway Class A
BRK.A
$1.26T
| $65.4M | 6.44% |
384
+37
| +11% | +$6.4M |
2013 Q2
1 quarter
|
|
|
7
Meta Platforms (Facebook)
META
$1.64T
| $60M | 5.91% |
+1,194,250
| New | +$44.4M |
2013 Q3
0 quarters
|
|
|
ENDP
8
DELISTED
Endo International plc
ENDP
| $59.3M | 5.84% |
+1,306,000
| New | +$52.5M |
2013 Q3
0 quarters
|
|
|
9
Enovis
ENOV
$1.6B
| $58.5M | 5.76% |
601,335
+339,885
| +130% | +$31.3M |
2013 Q2
1 quarter
|
|
10
Alphabet (Google) Class C
GOOG
$3.6T
| $51.6M | 5.08% |
2,364,831
+120,450
| +5% | +$2.66M |
2013 Q2
1 quarter
|
|
11
Intercontinental Exchange
ICE
$100B
| $48.8M | 4.8% |
1,345,000
+510,000
| +61% | +$18.5M |
2013 Q2
1 quarter
|
|
|
DANG
12
DELISTED
E-COMMERCE CHINA DANGDANG INC SPNSRD ADS REP COM CL A (CYM)
DANG
| $46M | 4.53% |
4,392,000
+1,792,000
| +69% | +$15.9M |
2013 Q2
1 quarter
|
|
13
AB InBev
BUD
$167B
| $36M | 3.54% |
362,400
+31,500
| +10% | +$3M |
2013 Q2
1 quarter
|
|
|
14
Las Vegas Sands
LVS
$25.3B
| $33.9M | 3.33% |
+510,000
| New | +$29.6M |
2013 Q3
0 quarters
|
|
15
Liberty Global Class A
LBTYA
$3.58B
| $30.5M | 3% |
930,933
+77,598
| +9% | +$2.51M |
2013 Q2
1 quarter
|
|
16
Netflix
NFLX
$255B
| $30.3M | 2.98% |
6,860,000
+1,610,000
| +31% | +$6.22M |
2013 Q2
1 quarter
|
|
|
17
Herc Holdings
HRI
$5.53B
| $25.2M | 2.48% |
379,000
-342,333
| -47% | -$26.2M |
2013 Q2
1 quarter
|
|
18
Liberty Global Class C
LBTYK
$3.5B
| $20.8M | 2.05% |
683,067
+65,513
| +11% | +$1.97M |
2013 Q2
1 quarter
|
|
19
SPDR Gold Trust
GLD
$130B
| $13.6M | 1.34% |
106,000
| – | – |
2013 Q2
1 quarter
|
|
20
CALL
Apple
AAPL
$5.18T
| $11.9M | 1.17% |
700,000
| – | – |
2013 Q2
1 quarter
|
|
|
21
Owens Corning
OC
$8.94B
| – | – |
-700,000
| Closed | -$27.4M | – |
|
|
22
Yum! Brands
YUM
$43.3B
| – | – |
-585,611
| Closed | -$29.2M | – |
|
|
YHOO
23
DELISTED
Yahoo Inc
YHOO
| – | – |
-1,672,800
| Closed | -$42M | – |
|
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Alpha Wave Global's Q3 2013 Portfolio in Review
As of Q3 2013, Alpha Wave Global held 23 positions worth $1.02B, up 43% from $709M the previous quarter. Its ten largest holdings account for 71% of the portfolio.
Alpha Wave Global deployed $180M of net new capital in Q3 2013, opening 3 new positions and adding to 14 existing holdings. Its largest new stake was Endo International plc: 1,306,000 shares worth $59.3M.
By sector, the portfolio is most concentrated in Communication Services at 26% of assets, up from 19% a quarter earlier, followed by Financials and Consumer Discretionary.
On the sell side, the largest reduction was Herc Holdings, an estimated $26.2M trimmed.
- Alpha Wave Global's largest Q3 2013 buy was Endo International plc: 1,306,000 shares worth $59.3M.
- Alpha Wave Global added most to Groupon in Q3 2013, an estimated $31.9M increase.
- Alpha Wave Global's biggest Q3 2013 reduction was Herc Holdings, cutting an estimated $26.2M.
- Alpha Wave Global fully exited Yahoo Inc in Q3 2013, selling an estimated $42M.
- Alpha Wave Global's ten largest holdings make up 71% of its $1.02B portfolio in Q3 2013.
- Alpha Wave Global opened 3 new positions and closed 3 in Q3 2013.
- Alpha Wave Global's portfolio value rose 43% quarter-over-quarter to $1.02B.
Based on Alpha Wave Global's 13F filing for Q3 2013, filed 14 Nov 2013.