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WIC

Water Island Capital Portfolio holdings

AUM $896M
1-Year Est. Return 107.59%
This Fund
S&P 500
This Quarter Est. Return
+9.24%
1 Year Est. Return
+107.59%
3 Year Est. Return
+414.38%
5 Year Est. Return
+1,508.69%
10 Year Est. Return
+23,520.55%
AUM
$1.62B
AUM Growth
-$490M
Cap. Flow
-$530M
Cap. Flow %
-32.65%
Top 10 Hldgs %
53.52%
Holding
154
New
49
Increased
22
Reduced
11
Closed
64

Top Buys

Rank Stock Value
1
NXPI icon
NXP Semiconductors
NXPI
+$60.2M
2
BSFT
BroadSoft, Inc.
BSFT
+$44.2M
3
HSNI
HSN, Inc.
HSNI
+$43.3M
4
BOBE
Bob Evans Farms, Inc.
BOBE
+$41.3M
5
AAAP
Advanced Accelerator Applications S.A.
AAAP
+$32.5M

Top Sells

Rank Stock Value
1
BCR
CR Bard Inc.
BCR
+$145M
2
PRXL
Parexel International Corp
PRXL
+$132M
3
VWR
VWR Corporation
VWR
+$84.7M
4
FIG
Fortress Investment Group Llc
FIG
+$83.7M
5
AF
Astoria Financial Corporation
AF
+$77.6M

Sector Composition

Rank Sector Weight
1 Technology 26.5%
2 Communication Services 14.88%
3 Consumer Discretionary 11.33%
4 Utilities 6.42%
5 Healthcare 5.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BETR
26
DELISTED
Amplify Snack Brands, Inc.
BETR
$18.6M 1.15%
+1,550,000
New +$11.1M
JACK icon
27
Jack in the Box
JACK
$312M
$17.2M 1.06%
175,000
+127,500
+268% +$13M
AABA
28
DELISTED
Altaba Inc
AABA
$15.5M 0.95%
221,419
-270,000
-55% -$18.8M
RXDX
29
DELISTED
Ignyta, Inc.
RXDX
$14.4M 0.89%
+540,000
New +$8.77M
TIME
30
DELISTED
Time Inc.
TIME
$14M 0.86%
+759,850
New +$11.4M
DLPH
31
DELISTED
Delphi Technologies PLC Ordinary Shares
DLPH
$13.3M 0.82%
+252,825
New +$13.1M
GNCMA
32
DELISTED
GCI Liberty, Inc. Class A-1 Common Stock
GNCMA
$13.1M 0.81%
335,377
-324,249
-49% -$13.2M
LNCE
33
DELISTED
Snyders-Lance, Inc.
LNCE
$12.1M 0.75%
+242,300
New +$9.62M
DYN
34
DELISTED
Dynegy, Inc.
DYN
$11.7M 0.72%
987,606
+642,887
+186% +$7.18M
MON
35
PUT
DELISTED
Monsanto Co
MON
$11.3M 0.69%
+107,300
New +$12.8M
JACK icon
36
CALL
Jack in the Box
JACK
$312M
$11M 0.68%
+100,000
New +$10.2M
MSFG
37
DELISTED
MainSource Financial Group Inc
MSFG
$10.6M 0.65%
291,458
+154,366
+113% +$5.78M
BWLD
38
CALL
DELISTED
Buffalo Wild Wings, Inc.
BWLD
$9.6M 0.59%
+60,000
New +$7.9M
RGC
39
DELISTED
Regal Entertainment Group
RGC
$9M 0.55%
+391,046
New +$7.2M
CZR
40
DELISTED
Caesars Entertainment Corporation
CZR
$6.91M 0.43%
+546,000
New +$6.93M
UPBD icon
41
CALL
Upbound Group
UPBD
$1.13B
$5.94M 0.37%
+475,000
New +$5.2M
CNDT icon
42
Conduent
CNDT
$244M
$5.44M 0.34%
336,851
-10,500
-3% -$164K
MRVL icon
43
Marvell Technology
MRVL
$168B
$5.33M 0.33%
+248,030
New +$5.06M
JBGS
44
JBG SMITH
JBGS
$818M
$4.95M 0.31%
142,498
– –
MAC icon
45
Macerich
MAC
$7.33B
$4.93M 0.3%
+75,000
New +$4.59M
UPBD icon
46
Upbound Group
UPBD
$1.13B
$4.92M 0.3%
443,620
-6,380
-1% -$69.8K
ENTL
47
DELISTED
Entellus Medical, Inc. Common Stock
ENTL
$4.81M 0.3%
+197,200
New +$3.79M
ENZY
48
DELISTED
Enzymotec Ltd
ENZY
$4.74M 0.29%
+400,000
New +$4.64M
BV
49
DELISTED
Bazaarvoice, Inc.
BV
$4.68M 0.29%
+857,924
New +$4.33M
BG icon
50
Bunge Global
BG
$20.4B
$4.49M 0.28%
+67,000
New +$4.55M
1
2
3 4 5

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Water Island Capital's Q4 2017 Portfolio in Review

As of Q4 2017, Water Island Capital held 154 positions worth $1.62B, down 23% from $2.11B the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Water Island Capital withdrew a net $530M in Q4 2017, closing 64 positions and reducing 11 holdings. Its most notable exit was CR Bard Inc., an estimated $145M position sold in full.

By sector, the portfolio is most concentrated in Technology at 27% of assets, up from 15% a quarter earlier, followed by Communication Services and Consumer Discretionary.

Against the trend, Water Island Capital opened a new position in BroadSoft, Inc. worth $44.5M.

  • Water Island Capital's largest Q4 2017 buy was BroadSoft, Inc.: 811,151 shares worth $44.5M.
  • Water Island Capital added most to NXP Semiconductors in Q4 2017, an estimated $60.2M increase.
  • Water Island Capital's biggest Q4 2017 reduction was Time Warner Inc, cutting an estimated $37.6M.
  • Water Island Capital fully exited CR Bard Inc. in Q4 2017, selling an estimated $145M.
  • Water Island Capital's ten largest holdings make up 54% of its $1.62B portfolio in Q4 2017.
  • Water Island Capital opened 49 new positions and closed 64 in Q4 2017.
  • Water Island Capital's portfolio value fell 23% quarter-over-quarter to $1.62B.

Based on Water Island Capital's 13F filing for Q4 2017, filed 13 Feb 2018.