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 |
Fox Class A
FOXA
|
+$93.7M |
| 2 |
Caesars Entertainment Corporation
CZR
|
+$24M |
| 3 |
Zillow
Z
|
+$21.8M |
| 4 |
Alibaba
BABA
|
+$9.23M |
| 5 |
Knowles
KN
|
+$7.57M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Fox Class B
FOX
|
+$74.3M |
| 2 |
Microsoft
MSFT
|
+$2.13M |
| 3 |
TSG
The Stars Group Inc.
TSG
|
+$1.55M |
| 4 |
SPDR Gold Trust
GLD
|
+$1.19M |
| 5 |
Salesforce
CRM
|
+$643K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 53.49% |
| 2 | Communication Services | 29.02% |
| 3 | Healthcare | 7.52% |
| 4 | Consumer Discretionary | 3.3% |
| 5 | Industrials | 2.69% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Lyft
LYFT
$6.43B
| $509M | 42.92% |
7,739,539
| – | – |
2019 Q1
1 quarter
|
|
|
TRCO
2
DELISTED
TRIBUNE MEDIA COMPANY CLASS A
TRCO
| $107M | 9.03% |
2,315,481
+83,500
| +4% | +$3.86M |
2018 Q3
3 quarters
|
|
|
RHT
3
DELISTED
Red Hat Inc
RHT
| $99M | 8.35% |
527,209
+21,800
| +4% | +$4.02M |
2018 Q4
2 quarters
|
|
|
4
Fox Class A
FOXA
$28.4B
| $93.4M | 7.88% |
+2,550,146
| New | +$93.7M |
2019 Q2
0 quarters
|
|
|
CELG
5
DELISTED
Celgene Corp
CELG
| $89.1M | 7.52% |
963,800
+43,700
| +5% | +$4.15M |
2019 Q1
1 quarter
|
|
|
6
Knowles
KN
$2.77B
| $81.9M | 6.91% |
4,474,678
+429,335
| +11% | +$7.57M |
2019 Q1
1 quarter
|
|
|
7
Microsoft
MSFT
$3.96T
| $34.3M | 2.9% |
256,100
-16,800
| -6% | -$2.13M |
2016 Q1
13 quarters
|
|
8
Xerox
XRX
$142M
| $31.9M | 2.69% |
901,200
| – | – |
2018 Q4
2 quarters
|
|
|
9
DELISTED
Caesars Entertainment Corporation
CZR
| $30M | 2.53% |
+2,538,000
| New | +$24M |
2019 Q2
0 quarters
|
|
|
10
Zillow
Z
$6.54B
| $25.4M | 2.14% |
+546,700
| New | +$21.8M |
2019 Q2
0 quarters
|
|
|
11
SPDR Gold Trust
GLD
$135B
| $19.5M | 1.64% |
146,100
-9,600
| -6% | -$1.19M |
2018 Q4
2 quarters
|
|
|
TSG
12
DELISTED
The Stars Group Inc.
TSG
| $19.1M | 1.61% |
1,117,300
-87,300
| -7% | -$1.55M |
2018 Q1
5 quarters
|
|
|
13
Salesforce
CRM
$176B
| $9.07M | 0.77% |
59,800
-4,100
| -6% | -$643K |
2016 Q4
10 quarters
|
|
|
14
Alibaba
BABA
$256B
| $9.07M | 0.77% |
+53,500
| New | +$9.23M |
2019 Q2
0 quarters
|
|
15
PUT
United Rentals
URI
$68.4B
| $7.03M | 0.59% |
+53,000
| New | +$6.73M |
2019 Q2
0 quarters
|
|
|
RPLA
16
DELISTED
Replay Acquisition Corp. Ordinary Shares
RPLA
| $7.01M | 0.59% |
+700,000
| New | +$6.83M |
2019 Q2
0 quarters
|
|
17
NexGen Energy
NXE
$5.59B
| $5.68M | 0.48% |
3,619,138
+364,220
| +11% | +$565K |
2018 Q4
2 quarters
|
|
18
VanEck Oil Services ETF
OIH
$1.76B
| $2.25M | 0.19% |
7,600
-415
| -5% | -$129K |
2018 Q3
3 quarters
|
|
19
X Financial
XYF
$197M
| $2.22M | 0.19% |
197,300
-5,400
| -3% | -$77.4K |
2018 Q3
3 quarters
|
|
20
Uranium Energy
UEC
$3.55B
| $1.94M | 0.16% |
1,416,104
+98,604
| +7% | +$136K |
2018 Q4
2 quarters
|
|
21
Denison Mines
DNN
$2.01B
| $1.6M | 0.13% |
3,023,521
+653,969
| +28% | +$342K |
2019 Q1
1 quarter
|
|
|
22
Fox Class B
FOX
$25.4B
| – | – |
-2,070,646
| Closed | -$74.3M | – |
|
23
CALL
Qualcomm
QCOM
$186B
| – | – |
-428,500
| Closed | -$24.4M | – |
|
|
24
PUT
Qualcomm
QCOM
$186B
| – | – |
-428,500
| Closed | -$24.4M | – |
|
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Alpha Wave Global's Q2 2019 Portfolio in Review
As of Q2 2019, Alpha Wave Global held 24 positions worth $1.19B, down 1.9% from $1.21B the previous quarter. Its ten largest holdings account for 93% of the portfolio.
Alpha Wave Global deployed $96.2M of net new capital in Q2 2019, opening 6 new positions and adding to 7 existing holdings. Its largest new stake was Fox Class A: 2,550,146 shares worth $93.4M.
By sector, the portfolio is most concentrated in Technology at 53% of assets, down from 60% a quarter earlier, followed by Communication Services and Healthcare.
On the sell side, the largest reduction was Microsoft, an estimated $2.13M trimmed.
- Alpha Wave Global's largest Q2 2019 buy was Fox Class A: 2,550,146 shares worth $93.4M.
- Alpha Wave Global added most to Knowles in Q2 2019, an estimated $7.57M increase.
- Alpha Wave Global's biggest Q2 2019 reduction was Microsoft, cutting an estimated $2.13M.
- Alpha Wave Global fully exited Fox Class B in Q2 2019, selling an estimated $74.3M.
- Alpha Wave Global's ten largest holdings make up 93% of its $1.19B portfolio in Q2 2019.
- Alpha Wave Global opened 6 new positions and closed 3 in Q2 2019.
- Alpha Wave Global's portfolio value fell 1.9% quarter-over-quarter to $1.19B.
Based on Alpha Wave Global's 13F filing for Q2 2019, filed 14 Aug 2019.