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 |
JD.com
JD
|
+$68.7M |
| 2 |
Meta Platforms (Facebook)
META
|
+$48.8M |
| 3 |
SIOX
Sio Gene Therapies Inc. Common Stock
SIOX
|
+$21.2M |
| 4 |
LVNTA
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
|
+$11.6M |
| 5 |
Arbutus Biopharma
ABUS
|
+$6.04M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$223M |
| 2 |
Berkshire Hathaway Class A
BRK.A
|
+$104M |
| 3 |
Booking.com
BKNG
|
+$79.3M |
| 4 |
Spirit AeroSystems
SPR
|
+$66.9M |
| 5 |
JMEI
Jumei International Holding Limited American depositary shares, each representing ten Class A ordina
JMEI
|
+$62.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 27.36% |
| 2 | Healthcare | 24.03% |
| 3 | Consumer Discretionary | 16.5% |
| 4 | Energy | 15.97% |
| 5 | Communication Services | 9.42% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Cheniere Energy
LNG
$59.6B
| $210M | 15.97% |
3,033,414
-294,500
| -9% | -$22.1M |
2013 Q2
8 quarters
|
|
|
AGN
2
DELISTED
Allergan plc
AGN
| $161M | 12.22% |
529,542
-99,000
| -16% | -$29.5M |
2014 Q1
5 quarters
|
|
|
LVNTA
3
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
| $148M | 11.26% |
3,772,000
+277,000
| +8% | +$11.6M |
2015 Q1
1 quarter
|
|
|
4
DELISTED
Spirit AeroSystems
SPR
| $114M | 8.66% |
2,066,331
-1,248,000
| -38% | -$66.9M |
2014 Q3
3 quarters
|
|
5
Allegion
ALLE
$16.4B
| $99.4M | 7.56% |
1,652,344
-236,000
| -12% | -$14.5M |
2014 Q2
4 quarters
|
|
6
DELISTED
Vale S A
VALE.P
| $88.3M | 6.71% |
17,481,000
-1,489,000
| -8% | -$8.32M |
2014 Q4
2 quarters
|
|
7
DELISTED
Pandora Media Inc
P
| $72.6M | 5.52% |
4,670,900
| – | – |
2015 Q1
1 quarter
|
|
|
8
JD.com
JD
$37.4B
| $68.9M | 5.24% |
+2,021,000
| New | +$68.7M |
2015 Q2
0 quarters
|
|
9
Alnylam Pharmaceuticals
ALNY
$21.6B
| $64.5M | 4.9% |
537,713
-334,000
| -38% | -$39.9M |
2014 Q4
2 quarters
|
|
|
CDK
10
DELISTED
CDK Global, Inc.
CDK
| $54.2M | 4.12% |
1,004,262
-970,738
| -49% | -$49.8M |
2014 Q4
2 quarters
|
|
|
11
Meta Platforms (Facebook)
META
$1.64T
| $51.3M | 3.9% |
+598,000
| New | +$48.8M |
2015 Q2
0 quarters
|
|
12
Delta Air Lines
DAL
$58.7B
| $49.8M | 3.79% |
1,212,000
-504,000
| -29% | -$22M |
2014 Q4
2 quarters
|
|
13
DELISTED
MASONITE INTERNATIONAL CORP
DOOR
| $42.6M | 3.24% |
608,000
-494,000
| -45% | -$33.9M |
2014 Q4
2 quarters
|
|
|
ICPT
14
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $39.5M | 3% |
163,700
-111,300
| -40% | -$29.6M |
2015 Q1
1 quarter
|
|
|
15
Arbutus Biopharma
ABUS
$804M
| $31M | 2.36% |
2,618,000
+397,000
| +18% | +$6.04M |
2015 Q1
1 quarter
|
|
|
SIOX
16
DELISTED
Sio Gene Therapies Inc. Common Stock
SIOX
| $20.4M | 1.55% |
+125,000
| New | +$21.2M |
2015 Q2
0 quarters
|
|
|
17
Alibaba
BABA
$262B
| – | – |
-2,673,000
| Closed | -$223M | – |
|
|
18
Booking.com
BKNG
$128B
| – | – |
-1,702,500
| Closed | -$79.3M | – |
|
|
19
Berkshire Hathaway Class A
BRK.A
$1.24T
| – | – |
-480
| Closed | -$104M | – |
|
|
20
CALL
Cheniere Energy
LNG
$59.6B
| – | – |
-260,000
| Closed | -$20.1M | – |
|
|
JMEI
21
DELISTED
Jumei International Holding Limited American depositary shares, each representing ten Class A ordina
JMEI
| – | – |
-395,300
| Closed | -$62.5M | – |
|
|
OIBR
22
DELISTED
OI S A SPONSORED ADR REPSTG PFD NEW (BRA)
OIBR
| – | – |
-9,245,523
| Closed | -$14.2M | – |
|
|
GEVA
23
PUT
DELISTED
SYNAGEVA BIOPHARMA CORP COM STK (DE)
GEVA
| – | – |
-304,000
| Closed | -$29.6M | – |
|
|
OIBR.C
24
DELISTED
OI S.A. American Depositary Shares, each representing five shares of common stock
OIBR.C
| – | – |
-724,404
| Closed | -$5.9M | – |
|
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Alpha Wave Global's Q2 2015 Portfolio in Review
As of Q2 2015, Alpha Wave Global held 24 positions worth $1.32B, down 35% from $2.04B the previous quarter. Its ten largest holdings account for 82% of the portfolio.
Alpha Wave Global withdrew a net $649M in Q2 2015, closing 8 positions and reducing 10 holdings. Its most notable exit was Alibaba, an estimated $223M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 27% of assets, down from 29% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Alpha Wave Global opened a new position in JD.com worth $68.9M.
- Alpha Wave Global's largest Q2 2015 buy was JD.com: 2,021,000 shares worth $68.9M.
- Alpha Wave Global added most to Liberty Interactive Corporation Series A Liberty Ventures in Q2 2015, an estimated $11.6M increase.
- Alpha Wave Global's biggest Q2 2015 reduction was Spirit AeroSystems, cutting an estimated $66.9M.
- Alpha Wave Global fully exited Alibaba in Q2 2015, selling an estimated $223M.
- Alpha Wave Global's ten largest holdings make up 82% of its $1.32B portfolio in Q2 2015.
- Alpha Wave Global opened 3 new positions and closed 8 in Q2 2015.
- Alpha Wave Global's portfolio value fell 35% quarter-over-quarter to $1.32B.
Based on Alpha Wave Global's 13F filing for Q2 2015, filed 14 Aug 2015.