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 |
ESRX
Express Scripts Holding Company
ESRX
|
+$54.9M |
| 2 |
GGP
GGP Inc.
GGP
|
+$46.9M |
| 3 |
QCP
Quality Care Properties, Inc.
QCP
|
+$23.1M |
| 4 |
TSG
The Stars Group Inc.
TSG
|
+$12.6M |
| 5 |
CSX Corp
CSX
|
+$4.02M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MON
Monsanto Co
MON
|
+$60.4M |
| 2 |
SPDR Gold Trust
GLD
|
+$22.6M |
| 3 |
NXP Semiconductors
NXPI
|
+$19.3M |
| 4 |
State Street Energy Select Sector SPDR ETF
XLE
|
+$6.47M |
| 5 |
Broadcom
AVGO
|
+$5.91M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 25.13% |
| 2 | Real Estate | 23.69% |
| 3 | Technology | 12.36% |
| 4 | Communication Services | 11.84% |
| 5 | Healthcare | 11.05% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
QCP
1
DELISTED
Quality Care Properties, Inc.
QCP
| $121M | 17.05% |
5,632,547
+1,093,393
| +24% | +$23.1M |
2017 Q1
5 quarters
|
|
2
PUT
Invesco QQQ Trust
QQQ
$467B
| $56.6M | 7.97% |
330,000
| – | – |
2018 Q1
1 quarter
|
|
|
ESRX
3
DELISTED
Express Scripts Holding Company
ESRX
| $56.5M | 7.95% |
+731,300
| New | +$54.9M |
2018 Q2
0 quarters
|
|
|
GGP
4
DELISTED
GGP Inc.
GGP
| $47.2M | 6.64% |
+2,310,810
| New | +$46.9M |
2018 Q2
0 quarters
|
|
5
PUT
iShares MSCI Emerging Markets ETF
EEM
$28.6B
| $43.3M | 6.1% |
+1,000,000
| New | +$46.3M |
2018 Q2
0 quarters
|
|
6
PUT
State Street SPDR EURO STOXX 50 ETF
FEZ
$4.26B
| $42.2M | 5.93% |
+1,100,000
| New | +$44.7M |
2018 Q2
0 quarters
|
|
7
Microsoft
MSFT
$4.13T
| $32.9M | 4.62% |
333,200
| – | – |
2016 Q1
9 quarters
|
|
|
TSG
8
DELISTED
The Stars Group Inc.
TSG
| $31.2M | 4.38% |
858,300
+377,000
| +78% | +$12.6M |
2018 Q1
1 quarter
|
|
9
Meta Platforms (Facebook)
META
$1.64T
| $29.3M | 4.13% |
151,000
| – | – |
2015 Q2
12 quarters
|
|
|
10
CSX Corp
CSX
$96.4B
| $28.2M | 3.97% |
1,327,500
+195,000
| +17% | +$4.02M |
2016 Q4
6 quarters
|
|
11
Philip Morris
PM
$329B
| $27M | 3.8% |
334,300
+27,000
| +9% | +$2.29M |
2017 Q3
3 quarters
|
|
12
Salesforce
CRM
$187B
| $26.6M | 3.74% |
194,900
| – | – |
2016 Q4
6 quarters
|
|
13
DELISTED
Liberty Broadband Class C
LBRDK
| $23.6M | 3.32% |
312,000
+46,000
| +17% | +$3.48M |
2016 Q1
9 quarters
|
|
|
NXTM
14
DELISTED
NxStage Medical Inc.
NXTM
| $22.1M | 3.11% |
791,000
| – | – |
2017 Q4
2 quarters
|
|
15
TransDigm Group
TDG
$67.3B
| $21.8M | 3.06% |
63,100
-9,000
| -12% | -$2.96M |
2017 Q1
5 quarters
|
|
|
16
State Street Energy Select Sector SPDR ETF
XLE
$41.8B
| $16.2M | 2.28% |
426,000
-174,000
| -29% | -$6.47M |
2018 Q1
1 quarter
|
|
17
Amazon
AMZN
$2.88T
| $15.7M | 2.21% |
185,000
-20,000
| -10% | -$1.59M |
2015 Q4
10 quarters
|
|
|
18
Broadcom
AVGO
$1.55T
| $15.1M | 2.12% |
621,000
-241,000
| -28% | -$5.91M |
2018 Q1
1 quarter
|
|
19
Autodesk
ADSK
$56.4B
| $13.3M | 1.88% |
101,800
| – | – |
2016 Q1
9 quarters
|
|
|
20
CALL
State Street Energy Select Sector SPDR ETF
XLE
$41.8B
| $13.3M | 1.87% |
+350,000
| New | +$13M |
2018 Q2
0 quarters
|
|
21
MakeMyTrip
MMYT
$4.77B
| $12.6M | 1.77% |
348,489
| – | – |
2017 Q1
5 quarters
|
|
22
The Kraft Heinz Company
KHC
$30.2B
| $7.85M | 1.11% |
125,000
-60,000
| -32% | -$3.56M |
2015 Q4
10 quarters
|
|
23
PUT
Wabtec
WAB
$49.8B
| $6.96M | 0.98% |
+70,600
| New | +$6.57M |
2018 Q2
0 quarters
|
|
|
24
SPDR Gold Trust
GLD
$136B
| – | – |
-179,500
| Closed | -$22.6M | – |
|
|
25
NXP Semiconductors
NXPI
$66.8B
| – | – |
-164,900
| Closed | -$19.3M | – |
|
Similar funds
Alpha Wave Global's Q2 2018 Portfolio in Review
As of Q2 2018, Alpha Wave Global held 27 positions worth $711M, up 30% from $547M the previous quarter. Its ten largest holdings account for 69% of the portfolio.
Alpha Wave Global's Q2 2018 filing shows 6 new, 5 increased, 5 reduced and 4 closed positions. Its largest new stake was Express Scripts Holding Company: 731,300 shares worth $56.5M. The largest sale was Monsanto Co, an estimated $60.4M.
By sector, the portfolio is most concentrated in Miscellaneous at 25% of assets, up from 17% a quarter earlier, followed by Real Estate and Technology.
- Alpha Wave Global's largest Q2 2018 buy was Express Scripts Holding Company: 731,300 shares worth $56.5M.
- Alpha Wave Global added most to Quality Care Properties, Inc. in Q2 2018, an estimated $23.1M increase.
- Alpha Wave Global's biggest Q2 2018 reduction was State Street Energy Select Sector SPDR ETF, cutting an estimated $6.47M.
- Alpha Wave Global fully exited Monsanto Co in Q2 2018, selling an estimated $60.4M.
- Alpha Wave Global's ten largest holdings make up 69% of its $711M portfolio in Q2 2018.
- Alpha Wave Global opened 6 new positions and closed 4 in Q2 2018.
- Alpha Wave Global's portfolio value rose 30% quarter-over-quarter to $711M.
Based on Alpha Wave Global's 13F filing for Q2 2018, filed 14 Aug 2018.