Water Island Capital’s PIEDMONT NATURAL GAS CO INC(NC PNY Stock Holding History

Water Island Capital’s Portfolio PNY Stock Details PNY Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2016 Q4	–	Sell	-1,291,565	Closed	-$77.5M	–	193
2016 Q3	$77.5M	Buy	1,291,565 +70,940	+6%	+$4.25M	4.92%	4
2016 Q2	$73.4M	Buy	1,220,625 +811,812	+199%	+$48.6M	3.63%	7
2016 Q1	$24.5M	Buy	408,813 +144,219	+55%	+$8.51M	1.61%	22
2015 Q4	$15.1M	Buy	+264,594	New	+$14.1M	0.81%	32

Other funds holding PNY

FNFDCM

Folger Nolan Fleming Douglas Capital Management Washington, District of Columbia $1.22B AUM 34.81% 1-Year Est. Return

Water Island Capital's PNY Position: Q4 2016 in Review

Water Island Capital sold out of PIEDMONT NATURAL GAS CO INC(NC (PNY) in Q4 2016, closing a stake of 1,291,565 shares — an estimated $77.5M sold.

Water Island Capital first reported a position in PNY in Q4 2015 and held it in 4 quarters. The position peaked at $77.5M in Q3 2016. 1 fund tracked by Wall St. Rank holds PNY as of Q4 2016.

Water Island Capital reported no remaining PIEDMONT NATURAL GAS CO INC(NC position as of Q4 2016 after selling out during the quarter.
Water Island Capital sold 1,291,565 PIEDMONT NATURAL GAS CO INC(NC shares in Q4 2016, an estimated $77.5M.
Water Island Capital first reported a position in PIEDMONT NATURAL GAS CO INC(NC in Q4 2015 and held it in 4 quarters.
Water Island Capital's PIEDMONT NATURAL GAS CO INC(NC position peaked at $77.5M in Q3 2016.
1 fund tracked by Wall St. Rank held PIEDMONT NATURAL GAS CO INC(NC as of Q4 2016.

Based on Water Island Capital's 13F filing for Q4 2016, filed 14 Feb 2017.