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 |
YHOO
Yahoo Inc
YHOO
|
+$78.3M |
| 2 |
Ingevity
NGVT
|
+$36.6M |
| 3 |
Intercontinental Exchange
ICE
|
+$28.5M |
| 4 |
CQH
Cheniere Energy Partners LP Holdings LLC
CQH
|
+$24.8M |
| 5 |
Gen Digital
GEN
|
+$18.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Allegion
ALLE
|
+$50.5M |
| 2 |
Cheniere Energy
LNG
|
+$46.6M |
| 3 |
JD.com
JD
|
+$30.3M |
| 4 |
Advance Auto Parts
AAP
|
+$23.8M |
| 5 |
AGN
Allergan plc
AGN
|
+$23.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 22.4% |
| 2 | Communication Services | 15.61% |
| 3 | Healthcare | 13.89% |
| 4 | Consumer Discretionary | 13.03% |
| 5 | Technology | 10.29% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Cheniere Energy
LNG
$59.6B
| $151M | 11.97% |
3,464,514
-1,105,000
| -24% | -$46.6M |
2013 Q2
13 quarters
|
|
|
AGN
2
DELISTED
Allergan plc
AGN
| $109M | 8.62% |
472,329
-95,200
| -17% | -$23.3M |
2014 Q1
10 quarters
|
|
|
YHOO
3
DELISTED
Yahoo Inc
YHOO
| $82.3M | 6.52% |
+1,909,000
| New | +$78.3M |
2016 Q3
0 quarters
|
|
4
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$811B
| $76.8M | 6.09% |
355,000
-785,000
| -69% | -$170M |
2016 Q2
1 quarter
|
|
5
DELISTED
Liberty Broadband Class C
LBRDK
| $74M | 5.86% |
1,034,600
-134,400
| -11% | -$8.97M |
2016 Q1
2 quarters
|
|
6
Microsoft
MSFT
$4.13T
| $73.8M | 5.85% |
1,281,000
-225,000
| -15% | -$12.7M |
2016 Q1
2 quarters
|
|
|
CDK
7
DELISTED
CDK Global, Inc.
CDK
| $71.7M | 5.68% |
1,249,141
-203,900
| -14% | -$11.7M |
2014 Q4
7 quarters
|
|
8
Amazon
AMZN
$2.88T
| $62.1M | 4.92% |
1,483,000
-310,000
| -17% | -$11.9M |
2015 Q4
3 quarters
|
|
9
Meta Platforms (Facebook)
META
$1.64T
| $53.9M | 4.27% |
419,900
-160,100
| -28% | -$19.9M |
2015 Q2
5 quarters
|
|
|
CQH
10
DELISTED
Cheniere Energy Partners LP Holdings LLC
CQH
| $49.2M | 3.9% |
2,164,000
+1,221,000
| +129% | +$24.8M |
2016 Q2
1 quarter
|
|
11
The Kraft Heinz Company
KHC
$30.2B
| $46.4M | 3.68% |
518,100
-95,900
| -16% | -$8.49M |
2015 Q4
3 quarters
|
|
12
PUT
United Rentals
URI
$69.6B
| $42.4M | 3.36% |
+540,000
| New | +$41.4M |
2016 Q3
0 quarters
|
|
|
13
Ingevity
NGVT
$2.53B
| $40M | 3.17% |
+867,000
| New | +$36.6M |
2016 Q3
0 quarters
|
|
14
Liberty Latin America Class C
LILAK
$1.69B
| $36.4M | 2.88% |
1,513,987
+181,071
| +14% | +$4.84M |
2015 Q4
3 quarters
|
|
15
Expedia Group
EXPE
$37.9B
| $36.2M | 2.87% |
310,100
-132,900
| -30% | -$15M |
2016 Q1
2 quarters
|
|
16
Yum! Brands
YUM
$45.4B
| $35.2M | 2.79% |
539,569
-104,464
| -16% | -$6.67M |
2015 Q4
3 quarters
|
|
17
Autodesk
ADSK
$56.4B
| $35.2M | 2.79% |
486,300
-76,700
| -14% | -$4.83M |
2016 Q1
2 quarters
|
|
18
Alnylam Pharmaceuticals
ALNY
$21.6B
| $33.3M | 2.64% |
491,713
| – | – |
2014 Q4
7 quarters
|
|
19
Baidu
BIDU
$27.4B
| $32.8M | 2.6% |
180,200
-27,300
| -13% | -$4.72M |
2016 Q1
2 quarters
|
|
|
20
Advance Auto Parts
AAP
$3.07B
| $30.8M | 2.44% |
206,800
-149,200
| -42% | -$23.8M |
2016 Q1
2 quarters
|
|
|
21
Intercontinental Exchange
ICE
$97.8B
| $28.1M | 2.23% |
+522,500
| New | +$28.5M |
2016 Q3
0 quarters
|
|
|
MDCO
22
DELISTED
Medicines Co
MDCO
| $24.2M | 1.91% |
640,000
| – | – |
2015 Q4
3 quarters
|
|
|
23
Gen Digital
GEN
$18.3B
| $20.9M | 1.66% |
+832,000
| New | +$18.9M |
2016 Q3
0 quarters
|
|
24
Arbutus Biopharma
ABUS
$804M
| $9.01M | 0.71% |
2,618,000
| – | – |
2015 Q1
6 quarters
|
|
25
Adecoagro
AGRO
$1.33B
| $7.3M | 0.58% |
640,000
| – | – |
2016 Q1
2 quarters
|
|
Similar funds
Alpha Wave Global's Q3 2016 Portfolio in Review
As of Q3 2016, Alpha Wave Global held 27 positions worth $1.26B, down 7.5% from $1.36B the previous quarter. Its ten largest holdings account for 64% of the portfolio.
Alpha Wave Global withdrew a net $87.3M in Q3 2016, closing 2 positions and reducing 14 holdings. Its most notable exit was Allegion, an estimated $50.5M position sold in full.
By sector, the portfolio is most concentrated in Energy at 22% of assets, up from 14% a quarter earlier, followed by Communication Services and Healthcare.
Against the trend, Alpha Wave Global opened a new position in Yahoo Inc worth $82.3M.
- Alpha Wave Global's largest Q3 2016 buy was Yahoo Inc: 1,909,000 shares worth $82.3M.
- Alpha Wave Global added most to Cheniere Energy Partners LP Holdings LLC in Q3 2016, an estimated $24.8M increase.
- Alpha Wave Global's biggest Q3 2016 reduction was Cheniere Energy, cutting an estimated $46.6M.
- Alpha Wave Global fully exited Allegion in Q3 2016, selling an estimated $50.5M.
- Alpha Wave Global's ten largest holdings make up 64% of its $1.26B portfolio in Q3 2016.
- Alpha Wave Global opened 5 new positions and closed 2 in Q3 2016.
- Alpha Wave Global's portfolio value fell 7.5% quarter-over-quarter to $1.26B.
Based on Alpha Wave Global's 13F filing for Q3 2016, filed 14 Nov 2016.