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 |
SpaceX
SPCX
|
+$5.31B |
| 2 |
Cerebras Systems
CBRS
|
+$120M |
| 3 |
LXP Industrial Trust
LXP
|
+$11.6M |
| 4 |
Insperity
NSP
|
+$7.56M |
| 5 |
Janus Living Inc
JAN
|
+$7.51M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Huntington Ingalls Industries
HII
|
+$6.67M |
| 2 |
Ingevity
NGVT
|
+$6.1M |
| 3 |
Amrize Ltd
AMRZ
|
+$4.98M |
| 4 |
Resideo Technologies
REZI
|
+$1.69M |
| 5 |
Redwire
RDW
|
+$1.39M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 94.15% |
| 2 | Healthcare | 2.41% |
| 3 | Technology | 1.83% |
| 4 | Real Estate | 1.17% |
| 5 | Materials | 0.27% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
SpaceX
SPCX
$1.89T
| $5.34B | 85.53% |
+31,246,965
| New | +$5.31B |
2026 Q2
0 quarters
|
|
2
QXO Inc
QXO
$13.1B
| $421M | 6.75% |
24,390,244
| – | – |
2025 Q2
4 quarters
|
|
|
3
Cerebras Systems
CBRS
$25.8B
| $113M | 1.81% |
+510,000
| New | +$120M |
2026 Q2
0 quarters
|
|
4
Alto Neuroscience
ANRO
$1.18B
| $97.8M | 1.57% |
3,707,757
| – | – |
2024 Q1
9 quarters
|
|
5
Woodward
WWD
$19.5B
| $43.5M | 0.7% |
102,279
+5,561
| +6% | +$2.11M |
2023 Q4
10 quarters
|
|
6
Boeing
BA
$136B
| $39M | 0.62% |
179,933
+14,536
| +9% | +$3.23M |
2025 Q2
4 quarters
|
|
7
RadNet
RDNT
$6.02B
| $29.1M | 0.47% |
472,643
-5,661
| -1% | -$318K |
2023 Q4
10 quarters
|
|
8
Ventas
VTR
$47B
| $23.4M | 0.37% |
262,982
+22,142
| +9% | +$1.89M |
2025 Q4
2 quarters
|
|
9
COPT Defense Properties
CDP
$3.76B
| $20.6M | 0.33% |
566,739
+151,621
| +37% | +$4.93M |
2026 Q1
1 quarter
|
|
10
LENZ Therapeutics
LENZ
$130M
| $20.5M | 0.33% |
3,612,211
| – | – |
2024 Q1
9 quarters
|
|
|
11
Resideo Technologies
REZI
$3.24B
| $17.2M | 0.28% |
554,136
-49,259
| -8% | -$1.69M |
2025 Q3
3 quarters
|
|
|
12
Amrize Ltd
AMRZ
$21.8B
| $16.8M | 0.27% |
315,299
-91,927
| -23% | -$4.98M |
2026 Q1
1 quarter
|
|
|
13
DELISTED
LXP Industrial Trust
LXP
| $12.2M | 0.2% |
+225,971
| New | +$11.6M |
2026 Q2
0 quarters
|
|
|
14
Insperity
NSP
$1.92B
| $9.5M | 0.15% |
+230,629
| New | +$7.56M |
2026 Q2
0 quarters
|
|
15
CBL Properties
CBL
$1.69B
| $8.49M | 0.14% |
159,976
+13,469
| +9% | +$624K |
2025 Q1
5 quarters
|
|
|
16
Janus Living Inc
JAN
$8.42B
| $8.32M | 0.13% |
+289,383
| New | +$7.51M |
2026 Q2
0 quarters
|
|
17
Porch Group
PRCH
$2.41B
| $4.22M | 0.07% |
280,672
+23,631
| +9% | +$233K |
2020 Q3
23 quarters
|
|
18
Honeywell
HON
$70.6B
| $3.67M | 0.06% |
+16,396
| New | +$3.66M |
2026 Q2
0 quarters
|
|
|
HONA
19
Honeywell Aerospace
HONA
$52.3B
| $3.62M | 0.06% |
+16,396
| New | +$3.62M |
2026 Q2
0 quarters
|
|
20
Amylyx Pharmaceuticals
AMLX
$3.89B
| $2.79M | 0.04% |
155,422
+13,086
| +9% | +$202K |
2024 Q3
7 quarters
|
|
21
Denison Mines
DNN
$1.87B
| $2.51M | 0.04% |
819,433
+68,991
| +9% | +$240K |
2019 Q1
29 quarters
|
|
|
BCAR
22
DELISTED
D. Boral ARC Acquisition I Corp
BCAR
| $2.06M | 0.03% |
+197,763
| New | +$2.07M |
2026 Q2
0 quarters
|
|
23
Payoneer
PAYO
$2.44B
| $1.59M | 0.03% |
223,855
| – | – |
2021 Q3
19 quarters
|
|
24
NexGen Energy
NXE
$5.34B
| $1.4M | 0.02% |
149,398
+12,579
| +9% | +$143K |
2018 Q4
30 quarters
|
|
|
PCSC
25
DELISTED
Perceptive Capital Solutions
PCSC
| $562K | 0.01% |
51,683
-105,305
| -67% | -$1.17M |
2025 Q4
2 quarters
|
|
Similar funds
Alpha Wave Global's Q2 2026 Portfolio in Review
As of Q2 2026, Alpha Wave Global held 28 positions worth $6.24B, up 690% from $791M the previous quarter. Its ten largest holdings account for 98% of the portfolio.
Alpha Wave Global deployed $5.46B of net new capital in Q2 2026, opening 8 new positions and adding to 9 existing holdings. Its largest new stake was SpaceX: 31,246,965 shares worth $5.34B.
By sector, the portfolio is most concentrated in Industrials at 94% of assets, up from 72% a quarter earlier, followed by Healthcare and Technology.
On the sell side, the largest reduction was Amrize Ltd, an estimated $4.98M trimmed.
- Alpha Wave Global's largest Q2 2026 buy was SpaceX: 31,246,965 shares worth $5.34B.
- Alpha Wave Global added most to COPT Defense Properties in Q2 2026, an estimated $4.93M increase.
- Alpha Wave Global's biggest Q2 2026 reduction was Amrize Ltd, cutting an estimated $4.98M.
- Alpha Wave Global fully exited Huntington Ingalls Industries in Q2 2026, selling an estimated $6.67M.
- Alpha Wave Global's ten largest holdings make up 98% of its $6.24B portfolio in Q2 2026.
- Alpha Wave Global opened 8 new positions and closed 3 in Q2 2026.
- Alpha Wave Global's portfolio value rose 690% quarter-over-quarter to $6.24B.
Based on Alpha Wave Global's 13F filing for Q2 2026, filed 13 Aug 2026.