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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
+15.3%
1 Year Est. Return
+107.59%
3 Year Est. Return
+414.38%
5 Year Est. Return
+1,508.7%
10 Year Est. Return
+23,520.93%
AUM
$2.5B
AUM Growth
+$876M
Cap. Flow
+$805M
Cap. Flow %
32.22%
Top 10 Hldgs %
52.6%
Holding
143
New
53
Increased
23
Reduced
13
Closed
50

Top Buys

Rank Stock Value
1
CALD
Callidus Software, Inc.
CALD
+$136M
2
CSRA
CSRA Inc.
CSRA
+$126M
3
DST
DST Systems Inc.
DST
+$95.6M
4
MON
Monsanto Co
MON
+$94.7M
5
MSCC
Microsemi Corp
MSCC
+$77.2M

Top Sells

Rank Stock Value
1
TWX
Time Warner Inc
TWX
+$87.1M
2
CPN
Calpine Corporation
CPN
+$84.8M
3
HSNI
HSN, Inc.
HSNI
+$60.8M
4
STRP
Straight Path Communications Inc.
STRP
+$57.1M
5
BOBE
Bob Evans Farms, Inc.
BOBE
+$53.5M

Sector Composition

Rank Sector Weight
1 Technology 28.91%
2 Materials 10.28%
3 Financials 8.4%
4 Communication Services 4.31%
5 Industrials 3.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KND
26
DELISTED
Kindred Healthcare
KND
$28.1M 1.12%
+3,071,330
New +$28.4M
TWX
27
PUT
DELISTED
Time Warner Inc
TWX
$26.8M 1.07%
283,100
-766,900
-73% -$72.3M
RTX icon
28
PUT
RTX Corp
RTX
$301B
$26M 1.04%
328,764
+275,056
+512% +$22.7M
AABA
29
DELISTED
Altaba Inc
AABA
$23.3M 0.93%
314,519
+93,100
+42% +$7.02M
PGEM
30
DELISTED
Ply Gem Holdings, Inc.
PGEM
$19.9M 0.8%
+921,675
New +$18.9M
PNK
31
DELISTED
Pinnacle Entertainment Inc.
PNK
$19.8M 0.79%
+655,884
New +$20.5M
ASH icon
32
Ashland
ASH
$3.32B
$15.4M 0.62%
+221,300
New +$15.9M
XRX icon
33
Xerox
XRX
$424M
$13.6M 0.54%
+472,418
New +$14.5M
MSFG
34
DELISTED
MainSource Financial Group Inc
MSFG
$12.2M 0.49%
301,058
+9,600
+3% +$374K
CDK
35
DELISTED
CDK Global, Inc.
CDK
$11.4M 0.46%
+179,800
New +$12.6M
ORBK
36
DELISTED
Orbotech Ltd
ORBK
$10.3M 0.41%
+165,136
New +$9.07M
STB
37
DELISTED
Student Transportation Inc
STB
$10.1M 0.4%
+1,350,620
New +$8.9M
MAC icon
38
Macerich
MAC
$6.66B
$10.1M 0.4%
179,400
+104,400
+139% +$6.37M
LAYN
39
DELISTED
Layne Christensen Co
LAYN
$8.51M 0.34%
+570,244
New +$8.25M
LADR
40
Ladder Capital
LADR
$1.21B
$8.33M 0.33%
+552,500
New +$8.08M
JACK icon
41
Jack in the Box
JACK
$331M
$7.97M 0.32%
93,381
-81,619
-47% -$7.31M
SHLM
42
DELISTED
Schulman (A.) Inc
SHLM
$7.77M 0.31%
+180,630
New +$7.36M
FCE.A
43
DELISTED
Forest City Realty Trust, Inc.
FCE.A
$7.7M 0.31%
+380,000
New +$8.44M
FINL
44
DELISTED
Finish Line
FINL
$6.66M 0.27%
+491,818
New +$5.67M
AKRX
45
DELISTED
Akorn Inc
AKRX
$6.65M 0.27%
+355,300
New +$9.63M
AKRX
46
PUT
DELISTED
Akorn Inc
AKRX
$6.65M 0.27%
+355,300
New +$9.63M
APTV icon
47
Aptiv
APTV
$9.61B
$6.46M 0.26%
+75,969
New +$6.9M
AXTA icon
48
Axalta
AXTA
$8.03B
$6.04M 0.24%
+200,000
New +$6.25M
MDR
49
DELISTED
McDermott International
MDR
$5.27M 0.21%
+96,143
New +$2.2M
TRN icon
50
Trinity Industries
TRN
$2.47B
$5.22M 0.21%
+222,240
New +$5.47M
1
2
3 4 5

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Water Island Capital's Q1 2018 Portfolio in Review

As of Q1 2018, Water Island Capital held 143 positions worth $2.5B, up 54% from $1.62B the previous quarter. Its ten largest holdings account for 53% of the portfolio.

Water Island Capital deployed $805M of net new capital in Q1 2018, opening 53 new positions and adding to 23 existing holdings. Its largest new stake was Callidus Software, Inc.: 3,977,913 shares worth $143M.

By sector, the portfolio is most concentrated in Technology at 29% of assets, up from 27% a quarter earlier, followed by Materials and Financials.

On the sell side, the largest reduction was Time Warner Inc, an estimated $87.1M trimmed.

  • Water Island Capital's largest Q1 2018 buy was Callidus Software, Inc.: 3,977,913 shares worth $143M.
  • Water Island Capital added most to Monsanto Co in Q1 2018, an estimated $94.7M increase.
  • Water Island Capital's biggest Q1 2018 reduction was Time Warner Inc, cutting an estimated $87.1M.
  • Water Island Capital fully exited Calpine Corporation in Q1 2018, selling an estimated $84.8M.
  • Water Island Capital's ten largest holdings make up 53% of its $2.5B portfolio in Q1 2018.
  • Water Island Capital opened 53 new positions and closed 50 in Q1 2018.
  • Water Island Capital's portfolio value rose 54% quarter-over-quarter to $2.5B.

Based on Water Island Capital's 13F filing for Q1 2018, filed 14 May 2018.