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 |
Alibaba
BABA
|
+$155M |
| 2 |
LVNTA
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
|
+$136M |
| 3 |
Pandora Media Inc
P
|
+$74.7M |
| 4 |
ICPT
Intercept Pharmaceuticals, Inc.
ICPT
|
+$59.6M |
| 5 |
AGN
Allergan plc
AGN
|
+$56.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Avis
CAR
|
+$136M |
| 2 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$109M |
| 3 |
AGN
Allergan Inc
AGN
|
+$79.3M |
| 4 |
Spirit AeroSystems
SPR
|
+$70.2M |
| 5 |
SANDISK CORP
SNDK
|
+$64.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 29.19% |
| 2 | Consumer Discretionary | 22.02% |
| 3 | Healthcare | 19.36% |
| 4 | Energy | 12.64% |
| 5 | Miscellaneous | 7.66% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Cheniere Energy
LNG
$62.7B
| $258M | 12.64% |
3,327,914
| – | – |
2013 Q2
7 quarters
|
|
|
2
Alibaba
BABA
$235B
| $223M | 10.92% |
2,673,000
+1,723,000
| +181% | +$155M |
2014 Q3
2 quarters
|
|
|
AGN
3
DELISTED
Allergan plc
AGN
| $187M | 9.18% |
628,542
+199,375
| +46% | +$56.8M |
2014 Q1
4 quarters
|
|
|
4
DELISTED
Spirit AeroSystems
SPR
| $173M | 8.49% |
3,314,331
-1,468,000
| -31% | -$70.2M |
2014 Q3
2 quarters
|
|
|
LVNTA
5
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
| $147M | 7.21% |
+3,495,000
| New | +$136M |
2015 Q1
0 quarters
|
|
6
Allegion
ALLE
$16.1B
| $116M | 5.67% |
1,888,344
| – | – |
2014 Q2
3 quarters
|
|
7
Berkshire Hathaway Class A
BRK.A
$1.26T
| $104M | 5.12% |
480
| – | – |
2013 Q2
7 quarters
|
|
|
CDK
8
DELISTED
CDK Global, Inc.
CDK
| $92.4M | 4.53% |
1,975,000
-99,000
| -5% | -$4.51M |
2014 Q4
1 quarter
|
|
9
DELISTED
Vale S A
VALE.P
| $92M | 4.52% |
18,970,000
+6,674,517
| +54% | +$42.2M |
2014 Q4
1 quarter
|
|
10
Alnylam Pharmaceuticals
ALNY
$22.3B
| $91M | 4.47% |
871,713
-496,000
| -36% | -$50.3M |
2014 Q4
1 quarter
|
|
11
Booking.com
BKNG
$120B
| $79.3M | 3.89% |
1,702,500
| – | – |
2013 Q4
5 quarters
|
|
|
ICPT
12
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $77.6M | 3.81% |
+275,000
| New | +$59.6M |
2015 Q1
0 quarters
|
|
13
Delta Air Lines
DAL
$57.2B
| $77.2M | 3.79% |
1,716,000
| – | – |
2014 Q4
1 quarter
|
|
|
14
DELISTED
Pandora Media Inc
P
| $75.7M | 3.72% |
+4,670,900
| New | +$74.7M |
2015 Q1
0 quarters
|
|
15
DELISTED
MASONITE INTERNATIONAL CORP
DOOR
| $74.1M | 3.64% |
1,102,000
| – | – |
2014 Q4
1 quarter
|
|
|
JMEI
16
DELISTED
Jumei International Holding Limited American depositary shares, each representing ten Class A ordina
JMEI
| $62.5M | 3.07% |
+395,300
| New | +$54.2M |
2015 Q1
0 quarters
|
|
17
Arbutus Biopharma
ABUS
$624M
| $38.8M | 1.9% |
+2,221,000
| New | +$45.5M |
2015 Q1
0 quarters
|
|
|
GEVA
18
PUT
DELISTED
SYNAGEVA BIOPHARMA CORP COM STK (DE)
GEVA
| $29.6M | 1.46% |
+304,000
| New | +$32.2M |
2015 Q1
0 quarters
|
|
|
19
CALL
Cheniere Energy
LNG
$62.7B
| $20.1M | 0.99% |
260,000
| – | – |
2014 Q4
1 quarter
|
|
|
OIBR
20
DELISTED
OI S A SPONSORED ADR REPSTG PFD NEW (BRA)
OIBR
| $14.2M | 0.7% |
9,245,523
| – | – |
2014 Q4
1 quarter
|
|
|
OIBR.C
21
DELISTED
OI S.A. American Depositary Shares, each representing five shares of common stock
OIBR.C
| $5.9M | 0.29% |
724,404
| – | – |
2014 Q2
3 quarters
|
|
|
22
Avis
CAR
$4.36B
| – | – |
-2,053,500
| Closed | -$136M | – |
|
|
TFCFA
23
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| – | – |
-2,828,000
| Closed | -$109M | – |
|
|
24
DELISTED
SANDISK CORP
SNDK
| – | – |
-656,000
| Closed | -$64.3M | – |
|
|
AGN
25
DELISTED
Allergan Inc
AGN
| – | – |
-373,000
| Closed | -$79.3M | – |
|
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Alpha Wave Global's Q1 2015 Portfolio in Review
As of Q1 2015, Alpha Wave Global held 25 positions worth $2.04B, up 10% from $1.85B the previous quarter. Its ten largest holdings account for 73% of the portfolio.
Alpha Wave Global deployed $111M of net new capital in Q1 2015, opening 6 new positions and adding to 3 existing holdings. Its largest new stake was Liberty Interactive Corporation Series A Liberty Ventures: 3,495,000 shares worth $147M.
By sector, the portfolio is most concentrated in Industrials at 29% of assets, down from 37% a quarter earlier, followed by Consumer Discretionary and Healthcare.
On the sell side, the largest reduction was Spirit AeroSystems, an estimated $70.2M trimmed.
- Alpha Wave Global's largest Q1 2015 buy was Liberty Interactive Corporation Series A Liberty Ventures: 3,495,000 shares worth $147M.
- Alpha Wave Global added most to Alibaba in Q1 2015, an estimated $155M increase.
- Alpha Wave Global's biggest Q1 2015 reduction was Spirit AeroSystems, cutting an estimated $70.2M.
- Alpha Wave Global fully exited Avis in Q1 2015, selling an estimated $136M.
- Alpha Wave Global's ten largest holdings make up 73% of its $2.04B portfolio in Q1 2015.
- Alpha Wave Global opened 6 new positions and closed 4 in Q1 2015.
- Alpha Wave Global's portfolio value rose 10% quarter-over-quarter to $2.04B.
Based on Alpha Wave Global's 13F filing for Q1 2015, filed 15 May 2015.