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 |
Cheniere Energy
LNG
|
+$94.8M |
| 2 |
Six Flags Entertainment Corp.
SIX
|
+$56.7M |
| 3 |
CDK
CDK Global, Inc.
CDK
|
+$32.5M |
| 4 |
JD.com
JD
|
+$30.8M |
| 5 |
Meta Platforms (Facebook)
META
|
+$30.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Delta Air Lines
DAL
|
+$49.8M |
| 2 |
Vale S A
VALE.P
|
+$44.8M |
| 3 |
ICPT
Intercept Pharmaceuticals, Inc.
ICPT
|
+$39.5M |
| 4 |
SIOX
Sio Gene Therapies Inc. Common Stock
SIOX
|
+$20.4M |
| 5 |
Alnylam Pharmaceuticals
ALNY
|
+$5.11M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 22.34% |
| 2 | Communication Services | 18.44% |
| 3 | Consumer Discretionary | 17.17% |
| 4 | Energy | 15.27% |
| 5 | Healthcare | 14.98% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Cheniere Energy
LNG
$59.8B
| $221M | 15.27% |
4,569,514
+1,536,100
| +51% | +$94.8M |
2013 Q2
9 quarters
|
|
|
LVNTA
2
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
| $168M | 11.6% |
4,157,000
+385,000
| +10% | +$15.6M |
2015 Q1
2 quarters
|
|
|
AGN
3
DELISTED
Allergan plc
AGN
| $161M | 11.14% |
592,542
+63,000
| +12% | +$19.4M |
2014 Q1
6 quarters
|
|
4
CALL
DELISTED
Pandora Media Inc
P
| $148M | 10.26% |
+6,950,000
| New | +$122M |
2015 Q3
0 quarters
|
|
5
Allegion
ALLE
$16.4B
| $108M | 7.45% |
1,867,344
+215,000
| +13% | +$13.1M |
2014 Q2
5 quarters
|
|
6
DELISTED
Spirit AeroSystems
SPR
| $100M | 6.91% |
2,066,331
| – | – |
2014 Q3
4 quarters
|
|
|
7
DELISTED
Pandora Media Inc
P
| $100M | 6.9% |
4,670,900
| – | – |
2015 Q1
2 quarters
|
|
|
8
Meta Platforms (Facebook)
META
$1.52T
| $83.6M | 5.78% |
930,000
+332,000
| +56% | +$30.5M |
2015 Q2
1 quarter
|
|
|
9
JD.com
JD
$38.2B
| $80.4M | 5.56% |
3,086,000
+1,065,000
| +53% | +$30.8M |
2015 Q2
1 quarter
|
|
|
CDK
10
DELISTED
CDK Global, Inc.
CDK
| $78.6M | 5.44% |
1,644,741
+640,479
| +64% | +$32.5M |
2014 Q4
3 quarters
|
|
|
11
DELISTED
Six Flags Entertainment Corp.
SIX
| $56.9M | 3.93% |
+1,242,000
| New | +$56.7M |
2015 Q3
0 quarters
|
|
|
12
Alnylam Pharmaceuticals
ALNY
$22.2B
| $39.5M | 2.73% |
491,713
-46,000
| -9% | -$5.11M |
2014 Q4
3 quarters
|
|
13
DELISTED
MASONITE INTERNATIONAL CORP
DOOR
| $36.8M | 2.55% |
608,000
| – | – |
2014 Q4
3 quarters
|
|
14
Netflix
NFLX
$274B
| $26.3M | 1.82% |
+2,550,000
| New | +$27.4M |
2015 Q3
0 quarters
|
|
|
15
DELISTED
Vale S A
VALE.P
| $22.3M | 1.54% |
6,653,000
-10,828,000
| -62% | -$44.8M |
2014 Q4
3 quarters
|
|
16
Arbutus Biopharma
ABUS
$767M
| $15.9M | 1.1% |
2,618,000
| – | – |
2015 Q1
2 quarters
|
|
|
17
Delta Air Lines
DAL
$56.3B
| – | – |
-1,212,000
| Closed | -$49.8M | – |
|
|
ICPT
18
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| – | – |
-163,700
| Closed | -$39.5M | – |
|
|
SIOX
19
DELISTED
Sio Gene Therapies Inc. Common Stock
SIOX
| – | – |
-125,000
| Closed | -$20.4M | – |
|
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Alpha Wave Global's Q3 2015 Portfolio in Review
As of Q3 2015, Alpha Wave Global held 19 positions worth $1.45B, up 9.9% from $1.32B the previous quarter. Its ten largest holdings account for 86% of the portfolio.
Alpha Wave Global deployed $161M of net new capital in Q3 2015, opening 3 new positions and adding to 7 existing holdings. Its largest new stake was Six Flags Entertainment Corp.: 1,242,000 shares worth $56.9M.
By sector, the portfolio is most concentrated in Industrials at 22% of assets, down from 27% a quarter earlier, followed by Communication Services and Consumer Discretionary.
On the sell side, the largest reduction was Vale S A, an estimated $44.8M trimmed.
- Alpha Wave Global's largest Q3 2015 buy was Six Flags Entertainment Corp.: 1,242,000 shares worth $56.9M.
- Alpha Wave Global added most to Cheniere Energy in Q3 2015, an estimated $94.8M increase.
- Alpha Wave Global's biggest Q3 2015 reduction was Vale S A, cutting an estimated $44.8M.
- Alpha Wave Global fully exited Delta Air Lines in Q3 2015, selling an estimated $49.8M.
- Alpha Wave Global's ten largest holdings make up 86% of its $1.45B portfolio in Q3 2015.
- Alpha Wave Global opened 3 new positions and closed 3 in Q3 2015.
- Alpha Wave Global's portfolio value rose 9.9% quarter-over-quarter to $1.45B.
Based on Alpha Wave Global's 13F filing for Q3 2015, filed 16 Nov 2015.