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 |
QIHU
QIHOO 360 TECHNOLOGY CO LTD ADS RPSTG 3 CL A SHS
QIHU
|
+$92.5M |
| 2 |
Liberty Broadband Class C
LBRDK
|
+$81.4M |
| 3 |
Microsoft
MSFT
|
+$69.3M |
| 4 |
Advance Auto Parts
AAP
|
+$53.5M |
| 5 |
Baidu
BIDU
|
+$42.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
LVNTA
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
|
+$115M |
| 2 |
Spirit AeroSystems
SPR
|
+$103M |
| 3 |
Pandora Media Inc
P
|
+$62.6M |
| 4 |
MASONITE INTERNATIONAL CORP
DOOR
|
+$37.2M |
| 5 |
JD.com
JD
|
+$28.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 23.9% |
| 2 | Consumer Discretionary | 20.31% |
| 3 | Healthcare | 17.15% |
| 4 | Technology | 13.32% |
| 5 | Industrials | 10.58% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Cheniere Energy
LNG
$63.5B
| $155M | 10.17% |
4,569,514
| – | – |
2013 Q2
11 quarters
|
|
|
AGN
2
DELISTED
Allergan plc
AGN
| $138M | 9.06% |
513,529
-79,013
| -13% | -$22.6M |
2014 Q1
8 quarters
|
|
|
QIHU
3
DELISTED
QIHOO 360 TECHNOLOGY CO LTD ADS RPSTG 3 CL A SHS
QIHU
| $96.6M | 6.36% |
+1,279,000
| New | +$92.5M |
2016 Q1
0 quarters
|
|
|
4
DELISTED
Liberty Broadband Class C
LBRDK
| $93.9M | 6.18% |
+1,620,000
| New | +$81.4M |
2016 Q1
0 quarters
|
|
|
CDK
5
DELISTED
CDK Global, Inc.
CDK
| $85.5M | 5.62% |
1,836,741
+192,000
| +12% | +$8.55M |
2014 Q4
5 quarters
|
|
6
Meta Platforms (Facebook)
META
$1.61T
| $80.7M | 5.31% |
707,000
-223,000
| -24% | -$23.5M |
2015 Q2
3 quarters
|
|
7
Allegion
ALLE
$16.1B
| $75.4M | 4.96% |
1,183,344
-355,000
| -23% | -$21.7M |
2014 Q2
7 quarters
|
|
|
8
Microsoft
MSFT
$4.13T
| $73M | 4.8% |
+1,322,000
| New | +$69.3M |
2016 Q1
0 quarters
|
|
9
Amazon
AMZN
$2.88T
| $72.9M | 4.8% |
2,457,000
+547,000
| +29% | +$15.5M |
2015 Q4
1 quarter
|
|
10
DELISTED
Six Flags Entertainment Corp.
SIX
| $71.7M | 4.72% |
1,292,038
-221,000
| -15% | -$11.4M |
2015 Q3
2 quarters
|
|
11
The Kraft Heinz Company
KHC
$30.2B
| $61.9M | 4.07% |
788,000
| – | – |
2015 Q4
1 quarter
|
|
|
12
Advance Auto Parts
AAP
$2.87B
| $57.1M | 3.76% |
+356,000
| New | +$53.5M |
2016 Q1
0 quarters
|
|
13
Yum! Brands
YUM
$42.8B
| $57M | 3.75% |
968,136
+132,145
| +16% | +$6.93M |
2015 Q4
1 quarter
|
|
|
14
Baidu
BIDU
$27.4B
| $47.8M | 3.15% |
+250,500
| New | +$42.6M |
2016 Q1
0 quarters
|
|
|
15
JD.com
JD
$37.4B
| $45.1M | 2.97% |
1,702,000
-1,084,000
| -39% | -$28.5M |
2015 Q2
3 quarters
|
|
|
LVNTA
16
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
| $43.9M | 2.89% |
1,123,000
-3,034,000
| -73% | -$115M |
2015 Q1
4 quarters
|
|
17
Liberty Latin America Class C
LILAK
$1.7B
| $43.2M | 2.84% |
1,332,916
+189,248
| +17% | +$6.02M |
2015 Q4
1 quarter
|
|
|
BXLT
18
DELISTED
BAXALTA INC COM STK (DE)
BXLT
| $38.8M | 2.55% |
+960,000
| New | +$38M |
2016 Q1
0 quarters
|
|
19
Autodesk
ADSK
$52.7B
| $32.8M | 2.16% |
+563,000
| New | +$29.4M |
2016 Q1
0 quarters
|
|
20
Expedia Group
EXPE
$37.9B
| $32.8M | 2.16% |
+304,000
| New | +$32.4M |
2016 Q1
0 quarters
|
|
21
Alnylam Pharmaceuticals
ALNY
$21.6B
| $30.9M | 2.03% |
491,713
| – | – |
2014 Q4
5 quarters
|
|
22
Netflix
NFLX
$276B
| $26.1M | 1.72% |
2,550,000
| – | – |
2015 Q3
2 quarters
|
|
23
Pfizer
PFE
$175B
| $22.2M | 1.46% |
+789,920
| New | +$22.6M |
2016 Q1
0 quarters
|
|
|
MDCO
24
DELISTED
Medicines Co
MDCO
| $20.3M | 1.34% |
640,000
| – | – |
2015 Q4
1 quarter
|
|
25
Arbutus Biopharma
ABUS
$769M
| $10.8M | 0.71% |
2,618,000
| – | – |
2015 Q1
4 quarters
|
|
Similar funds
Alpha Wave Global's Q1 2016 Portfolio in Review
As of Q1 2016, Alpha Wave Global held 31 positions worth $1.52B, down 2% from $1.55B the previous quarter. Its ten largest holdings account for 62% of the portfolio.
Alpha Wave Global deployed $63.3M of net new capital in Q1 2016, opening 10 new positions and adding to 4 existing holdings. Its largest new stake was QIHOO 360 TECHNOLOGY CO LTD ADS RPSTG 3 CL A SHS: 1,279,000 shares worth $96.6M.
By sector, the portfolio is most concentrated in Communication Services at 24% of assets, up from 20% a quarter earlier, followed by Consumer Discretionary and Healthcare.
On the sell side, the largest reduction was Liberty Interactive Corporation Series A Liberty Ventures, an estimated $115M trimmed.
- Alpha Wave Global's largest Q1 2016 buy was QIHOO 360 TECHNOLOGY CO LTD ADS RPSTG 3 CL A SHS: 1,279,000 shares worth $96.6M.
- Alpha Wave Global added most to Amazon in Q1 2016, an estimated $15.5M increase.
- Alpha Wave Global's biggest Q1 2016 reduction was Liberty Interactive Corporation Series A Liberty Ventures, cutting an estimated $115M.
- Alpha Wave Global fully exited Spirit AeroSystems in Q1 2016, selling an estimated $103M.
- Alpha Wave Global's ten largest holdings make up 62% of its $1.52B portfolio in Q1 2016.
- Alpha Wave Global opened 10 new positions and closed 5 in Q1 2016.
- Alpha Wave Global's portfolio value fell 2% quarter-over-quarter to $1.52B.
Based on Alpha Wave Global's 13F filing for Q1 2016, filed 16 May 2016.