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 |
CQH
Cheniere Energy Partners LP Holdings LLC
CQH
|
+$18.3M |
| 2 |
Expedia Group
EXPE
|
+$15.1M |
| 3 |
AGN
Allergan plc
AGN
|
+$12.5M |
| 4 |
Microsoft
MSFT
|
+$9.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
QIHU
QIHOO 360 TECHNOLOGY CO LTD ADS RPSTG 3 CL A SHS
QIHU
|
+$96.6M |
| 2 |
Six Flags Entertainment Corp.
SIX
|
+$71.7M |
| 3 |
LVNTA
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
|
+$43.9M |
| 4 |
BXLT
BAXALTA INC COM STK (DE)
BXLT
|
+$38.8M |
| 5 |
Allegion
ALLE
|
+$30.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 17.51% |
| 2 | Consumer Discretionary | 17.42% |
| 3 | Communication Services | 15.24% |
| 4 | Energy | 13.96% |
| 5 | Healthcare | 13.87% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$811B
| $239M | 17.51% |
+1,140,000
| New | +$237M |
2016 Q2
0 quarters
|
|
2
Cheniere Energy
LNG
$59.6B
| $172M | 12.58% |
4,569,514
| – | – |
2013 Q2
12 quarters
|
|
|
AGN
3
DELISTED
Allergan plc
AGN
| $131M | 9.62% |
567,529
+54,000
| +11% | +$12.5M |
2014 Q1
9 quarters
|
|
|
CDK
4
DELISTED
CDK Global, Inc.
CDK
| $80.6M | 5.91% |
1,453,041
-383,700
| -21% | -$19.8M |
2014 Q4
6 quarters
|
|
|
5
Microsoft
MSFT
$4.13T
| $77.1M | 5.65% |
1,506,000
+184,000
| +14% | +$9.6M |
2016 Q1
1 quarter
|
|
6
DELISTED
Liberty Broadband Class C
LBRDK
| $70.1M | 5.14% |
1,169,000
-451,000
| -28% | -$26.3M |
2016 Q1
1 quarter
|
|
7
Meta Platforms (Facebook)
META
$1.64T
| $66.3M | 4.86% |
580,000
-127,000
| -18% | -$14.6M |
2015 Q2
4 quarters
|
|
8
Amazon
AMZN
$2.88T
| $64.2M | 4.71% |
1,793,000
-664,000
| -27% | -$22.5M |
2015 Q4
2 quarters
|
|
9
Advance Auto Parts
AAP
$3.07B
| $57.5M | 4.22% |
356,000
| – | – |
2016 Q1
1 quarter
|
|
10
The Kraft Heinz Company
KHC
$30.2B
| $54.3M | 3.98% |
614,000
-174,000
| -22% | -$14.3M |
2015 Q4
2 quarters
|
|
|
11
Allegion
ALLE
$16.4B
| $50.5M | 3.7% |
727,344
-456,000
| -39% | -$30.3M |
2014 Q2
8 quarters
|
|
|
12
Expedia Group
EXPE
$37.9B
| $47.1M | 3.45% |
443,000
+139,000
| +46% | +$15.1M |
2016 Q1
1 quarter
|
|
13
Yum! Brands
YUM
$45.4B
| $38.4M | 2.82% |
644,033
-324,103
| -33% | -$19.1M |
2015 Q4
2 quarters
|
|
14
Liberty Latin America Class C
LILAK
$1.69B
| $37.1M | 2.72% |
1,332,916
| – | – |
2015 Q4
2 quarters
|
|
15
Baidu
BIDU
$27.4B
| $34.3M | 2.51% |
207,500
-43,000
| -17% | -$7.55M |
2016 Q1
1 quarter
|
|
16
Autodesk
ADSK
$56.4B
| $30.5M | 2.24% |
563,000
| – | – |
2016 Q1
1 quarter
|
|
17
JD.com
JD
$37.4B
| $30.3M | 2.22% |
1,426,000
-276,000
| -16% | -$6.67M |
2015 Q2
4 quarters
|
|
18
Alnylam Pharmaceuticals
ALNY
$21.6B
| $27.3M | 2% |
491,713
| – | – |
2014 Q4
6 quarters
|
|
|
MDCO
19
DELISTED
Medicines Co
MDCO
| $21.5M | 1.58% |
640,000
| – | – |
2015 Q4
2 quarters
|
|
|
CQH
20
DELISTED
Cheniere Energy Partners LP Holdings LLC
CQH
| $18.8M | 1.38% |
+943,000
| New | +$18.3M |
2016 Q2
0 quarters
|
|
21
Arbutus Biopharma
ABUS
$804M
| $9.11M | 0.67% |
2,618,000
| – | – |
2015 Q1
5 quarters
|
|
22
Adecoagro
AGRO
$1.33B
| $7.02M | 0.51% |
640,000
| – | – |
2016 Q1
1 quarter
|
|
23
Netflix
NFLX
$276B
| – | – |
-2,550,000
| Closed | -$26.1M | – |
|
24
Pfizer
PFE
$175B
| – | – |
-789,920
| Closed | -$22.2M | – |
|
|
25
DELISTED
Six Flags Entertainment Corp.
SIX
| – | – |
-1,292,038
| Closed | -$71.7M | – |
|
Similar funds
Alpha Wave Global's Q2 2016 Portfolio in Review
As of Q2 2016, Alpha Wave Global held 28 positions worth $1.36B, down 10% from $1.52B the previous quarter. Its ten largest holdings account for 74% of the portfolio.
Alpha Wave Global withdrew a net $405M in Q2 2016, closing 6 positions and reducing 9 holdings. Its most notable exit was QIHOO 360 TECHNOLOGY CO LTD ADS RPSTG 3 CL A SHS, an estimated $96.6M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 18% of assets, followed by Consumer Discretionary and Communication Services.
Against the trend, Alpha Wave Global opened a new position in Cheniere Energy Partners LP Holdings LLC worth $18.8M.
- Alpha Wave Global's largest Q2 2016 buy was Cheniere Energy Partners LP Holdings LLC: 943,000 shares worth $18.8M.
- Alpha Wave Global added most to Expedia Group in Q2 2016, an estimated $15.1M increase.
- Alpha Wave Global's biggest Q2 2016 reduction was Allegion, cutting an estimated $30.3M.
- Alpha Wave Global fully exited QIHOO 360 TECHNOLOGY CO LTD ADS RPSTG 3 CL A SHS in Q2 2016, selling an estimated $96.6M.
- Alpha Wave Global's ten largest holdings make up 74% of its $1.36B portfolio in Q2 2016.
- Alpha Wave Global opened 2 new positions and closed 6 in Q2 2016.
- Alpha Wave Global's portfolio value fell 10% quarter-over-quarter to $1.36B.
Based on Alpha Wave Global's 13F filing for Q2 2016, filed 15 Aug 2016.