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 |
NXTM
NxStage Medical Inc.
NXTM
|
+$20.8M |
| 2 |
QCP
Quality Care Properties, Inc.
QCP
|
+$9.11M |
| 3 |
MakeMyTrip
MMYT
|
+$7.5M |
| 4 |
Microsoft
MSFT
|
+$5.41M |
| 5 |
NXP Semiconductors
NXPI
|
+$4.16M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Liberty Media Corporation Series C Common Stock
FWONK
|
+$17.8M |
| 2 |
New Oriental
EDU
|
+$17.5M |
| 3 |
Intercontinental Exchange
ICE
|
+$15.5M |
| 4 |
Bank of America
BAC
|
+$10.5M |
| 5 |
CSX Corp
CSX
|
+$7.29M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 27.55% |
| 2 | Miscellaneous | 20.36% |
| 3 | Communication Services | 11.41% |
| 4 | Industrials | 10.66% |
| 5 | Consumer Staples | 9.25% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
NXP Semiconductors
NXPI
$66.8B
| $51.9M | 11.88% |
443,000
+36,000
| +9% | +$4.16M |
2017 Q3
1 quarter
|
|
2
CALL
Qualcomm
QCOM
$185B
| $41M | 9.38% |
+640,000
| New | +$38.8M |
2017 Q4
0 quarters
|
|
|
QCP
3
DELISTED
Quality Care Properties, Inc.
QCP
| $34.3M | 7.86% |
2,486,425
+596,400
| +32% | +$9.11M |
2017 Q1
3 quarters
|
|
|
4
Microsoft
MSFT
$4.13T
| $32.2M | 7.38% |
376,900
+66,000
| +21% | +$5.41M |
2016 Q1
7 quarters
|
|
5
Meta Platforms (Facebook)
META
$1.64T
| $28.3M | 6.47% |
160,100
-10,200
| -6% | -$1.8M |
2015 Q2
10 quarters
|
|
6
Philip Morris
PM
$329B
| $26M | 5.95% |
246,100
+31,000
| +14% | +$3.3M |
2017 Q3
1 quarter
|
|
7
TransDigm Group
TDG
$67.3B
| $24.5M | 5.62% |
89,300
-13,000
| -13% | -$3.53M |
2017 Q1
3 quarters
|
|
8
Amazon
AMZN
$2.88T
| $22.6M | 5.18% |
387,000
-56,000
| -13% | -$3.08M |
2015 Q4
8 quarters
|
|
|
9
CSX Corp
CSX
$96.4B
| $22M | 5.04% |
1,200,000
-411,900
| -26% | -$7.29M |
2016 Q4
4 quarters
|
|
10
DELISTED
Liberty Broadband Class C
LBRDK
| $21.6M | 4.94% |
253,200
| – | – |
2016 Q1
7 quarters
|
|
11
Salesforce
CRM
$187B
| $21.1M | 4.83% |
206,400
-16,300
| -7% | -$1.66M |
2016 Q4
4 quarters
|
|
|
NXTM
12
DELISTED
NxStage Medical Inc.
NXTM
| $19.2M | 4.39% |
+791,000
| New | +$20.8M |
2017 Q4
0 quarters
|
|
13
CALL
SPDR Gold Trust
GLD
$136B
| $15.6M | 3.57% |
+126,000
| New | +$15.3M |
2017 Q4
0 quarters
|
|
14
Autodesk
ADSK
$56.4B
| $15.1M | 3.45% |
143,800
| – | – |
2016 Q1
7 quarters
|
|
|
15
MakeMyTrip
MMYT
$4.77B
| $14.6M | 3.34% |
488,189
+271,100
| +125% | +$7.5M |
2017 Q1
3 quarters
|
|
16
The Kraft Heinz Company
KHC
$30.2B
| $14.4M | 3.29% |
185,000
-14,200
| -7% | -$1.12M |
2015 Q4
8 quarters
|
|
|
17
CALL
Microsoft
MSFT
$4.13T
| $12.8M | 2.94% |
+150,000
| New | +$12.3M |
2017 Q4
0 quarters
|
|
18
PUT
General Motors
GM
$78.5B
| $10.9M | 2.49% |
+265,000
| New | +$11.5M |
2017 Q4
0 quarters
|
|
|
19
CALL
Meta Platforms (Facebook)
META
$1.64T
| $8.65M | 1.98% |
+49,000
| New | +$8.66M |
2017 Q4
0 quarters
|
|
20
Advance Auto Parts
AAP
$3.07B
| – | – |
-67,600
| Closed | -$6.71M | – |
|
|
21
Bank of America
BAC
$356B
| – | – |
-416,000
| Closed | -$10.5M | – |
|
|
22
New Oriental
EDU
$8.07B
| – | – |
-198,200
| Closed | -$17.5M | – |
|
|
23
Liberty Media Corporation Series C Common Stock
FWONK
$24.8B
| – | – |
-484,151
| Closed | -$17.8M | – |
|
|
24
Intercontinental Exchange
ICE
$97.8B
| – | – |
-225,100
| Closed | -$15.5M | – |
|
25
PUT
United Rentals
URI
$69.6B
| – | – |
-160,000
| Closed | -$22.2M | – |
|
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Alpha Wave Global's Q4 2017 Portfolio in Review
As of Q4 2017, Alpha Wave Global held 25 positions worth $437M, up 8.9% from $401M the previous quarter. Its ten largest holdings account for 70% of the portfolio.
Alpha Wave Global withdrew a net $36.2M in Q4 2017, closing 6 positions and reducing 6 holdings. Its most notable exit was Liberty Media Corporation Series C Common Stock, an estimated $17.8M position sold in full.
By sector, the portfolio is most concentrated in Technology at 28% of assets, up from 26% a quarter earlier, followed by Miscellaneous and Communication Services.
Against the trend, Alpha Wave Global opened a new position in NxStage Medical Inc. worth $19.2M.
- Alpha Wave Global's largest Q4 2017 buy was NxStage Medical Inc.: 791,000 shares worth $19.2M.
- Alpha Wave Global added most to Quality Care Properties, Inc. in Q4 2017, an estimated $9.11M increase.
- Alpha Wave Global's biggest Q4 2017 reduction was CSX Corp, cutting an estimated $7.29M.
- Alpha Wave Global fully exited Liberty Media Corporation Series C Common Stock in Q4 2017, selling an estimated $17.8M.
- Alpha Wave Global's ten largest holdings make up 70% of its $437M portfolio in Q4 2017.
- Alpha Wave Global opened 6 new positions and closed 6 in Q4 2017.
- Alpha Wave Global's portfolio value rose 8.9% quarter-over-quarter to $437M.
Based on Alpha Wave Global's 13F filing for Q4 2017, filed 14 Feb 2018.