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 |
QXO Inc
QXO
|
+$400M |
| 2 |
Walgreens Boots Alliance
WBA
|
+$30.4M |
| 3 |
Boeing
BA
|
+$23.6M |
| 4 |
Masimo
MASI
|
+$16.3M |
| 5 |
CBIZ
CBZ
|
+$10.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Lantheus
LNTH
|
+$2.63M |
| 2 |
Alight
ALIT
|
+$2.08M |
| 3 |
Colombier Acquisition Corp II
CLBR
|
+$739K |
| 4 |
Lifecore Biomedical
LFCR
|
+$509K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 67.47% |
| 2 | Healthcare | 27.55% |
| 3 | Materials | 1.2% |
| 4 | Energy | 0.92% |
| 5 | Consumer Discretionary | 0.72% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
QXO Inc
QXO
$13B
| $525M | 56.6% |
+24,390,244
| New | +$400M |
2025 Q2
0 quarters
|
|
2
LENZ Therapeutics
LENZ
$130M
| $106M | 11.41% |
3,612,211
| – | – |
2024 Q1
5 quarters
|
|
|
MTSR
3
DELISTED
Metsera Inc
MTSR
| $67.8M | 7.31% |
2,384,050
| – | – |
2025 Q1
1 quarter
|
|
|
4
DELISTED
Walgreens Boots Alliance
WBA
| $31.4M | 3.38% |
+2,733,255
| New | +$30.4M |
2025 Q2
0 quarters
|
|
5
Woodward
WWD
$19.5B
| $26.6M | 2.87% |
108,613
+38,752
| +55% | +$7.93M |
2023 Q4
6 quarters
|
|
|
6
Boeing
BA
$136B
| $26.2M | 2.82% |
+124,959
| New | +$23.6M |
2025 Q2
0 quarters
|
|
7
RadNet
RDNT
$6.01B
| $22.1M | 2.38% |
387,477
+150,849
| +64% | +$8.29M |
2023 Q4
6 quarters
|
|
|
8
DELISTED
Masimo
MASI
| $17.2M | 1.85% |
+102,068
| New | +$16.3M |
2025 Q2
0 quarters
|
|
|
9
DELISTED
CBIZ
CBZ
| $16.6M | 1.79% |
232,021
+143,526
| +162% | +$10.4M |
2025 Q1
1 quarter
|
|
10
Perimeter Group Inc.
PRM
$4.79B
| $11.2M | 1.2% |
+801,335
| New | +$9.25M |
2025 Q2
0 quarters
|
|
11
Energy Recovery
ERII
$366M
| $9.13M | 0.98% |
714,321
+406,700
| +132% | +$5.51M |
2024 Q2
4 quarters
|
|
12
Alto Neuroscience
ANRO
$1.21B
| $8.16M | 0.88% |
3,707,757
| – | – |
2024 Q1
5 quarters
|
|
13
Carpenter Technology
CRS
$14.3B
| $8.07M | 0.87% |
29,192
+18,688
| +178% | +$4.07M |
2024 Q2
4 quarters
|
|
14
Huntington Ingalls Industries
HII
$12.1B
| $6.07M | 0.65% |
+25,158
| New | +$5.62M |
2025 Q2
0 quarters
|
|
15
NexGen Energy
NXE
$5.35B
| $5.23M | 0.56% |
753,195
+271,074
| +56% | +$1.53M |
2018 Q4
26 quarters
|
|
16
OneSpaWorld
OSW
$3.07B
| $4.53M | 0.49% |
+222,254
| New | +$4.07M |
2025 Q2
0 quarters
|
|
17
Fluence Energy
FLNC
$669M
| $4.4M | 0.47% |
+654,995
| New | +$3.12M |
2025 Q2
0 quarters
|
|
18
AeroVironment
AVAV
$6B
| $3.78M | 0.41% |
+13,264
| New | +$2.25M |
2025 Q2
0 quarters
|
|
19
CBL Properties
CBL
$1.69B
| $3.4M | 0.37% |
133,964
+47,954
| +56% | +$1.18M |
2025 Q1
1 quarter
|
|
20
iShares Bitcoin Trust
IBIT
$55.2B
| $3.39M | 0.37% |
+55,373
| New | +$3.1M |
2025 Q2
0 quarters
|
|
21
Denison Mines
DNN
$1.87B
| $3.36M | 0.36% |
1,843,479
+663,462
| +56% | +$1.01M |
2019 Q1
25 quarters
|
|
22
Burford Capital
BUR
$795M
| $3.1M | 0.33% |
+217,108
| New | +$2.84M |
2025 Q2
0 quarters
|
|
23
Porch Group
PRCH
$2.4B
| $2.8M | 0.3% |
237,905
+82,690
| +53% | +$710K |
2020 Q3
19 quarters
|
|
24
Aimco
AIV
$213M
| $2.8M | 0.3% |
323,578
+145,562
| +82% | +$1.18M |
2025 Q1
1 quarter
|
|
25
Flowers Foods
FLO
$1.17B
| $2.5M | 0.27% |
156,274
| – | – |
2023 Q3
7 quarters
|
|
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Alpha Wave Global's Q2 2025 Portfolio in Review
As of Q2 2025, Alpha Wave Global held 37 positions worth $928M, up 313% from $224M the previous quarter. Its ten largest holdings account for 92% of the portfolio.
Alpha Wave Global deployed $539M of net new capital in Q2 2025, opening 13 new positions and adding to 12 existing holdings. Its largest new stake was QXO Inc: 24,390,244 shares worth $525M.
By sector, the portfolio is most concentrated in Industrials at 67% of assets, up from 12% a quarter earlier, followed by Healthcare and Materials.
On the sell side, the most notable exit was Lantheus, an estimated $2.63M sold.
- Alpha Wave Global's largest Q2 2025 buy was QXO Inc: 24,390,244 shares worth $525M.
- Alpha Wave Global added most to CBIZ in Q2 2025, an estimated $10.4M increase.
- Alpha Wave Global fully exited Lantheus in Q2 2025, selling an estimated $2.63M.
- Alpha Wave Global's ten largest holdings make up 92% of its $928M portfolio in Q2 2025.
- Alpha Wave Global opened 13 new positions and closed 4 in Q2 2025.
- Alpha Wave Global's portfolio value rose 313% quarter-over-quarter to $928M.
Based on Alpha Wave Global's 13F filing for Q2 2025, filed 13 Aug 2025.