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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
+3.48%
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
$1.34B
AUM Growth
-$505M
(-27%)
Cap. Flow
-$320M
Cap. Flow
% of AUM
-23.87%
Top 10 Holdings %
Top 10 Hldgs %
52.33%
Holding
158
New
53
Increased
25
Reduced
11
Closed
62
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
TRCO
TRIBUNE MEDIA COMPANY CLASS A
TRCO
|
+$73.4M |
| 2 |
IMPV
Imperva, Inc.
IMPV
|
+$68.4M |
| 3 |
FCB
FCB Financial Holdings, Inc.
FCB
|
+$50.3M |
| 4 |
VLP
Valero Energy Partners LP
VLP
|
+$47.6M |
| 5 |
VVC
Vectren Corporation
VVC
|
+$45.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
PF
Pinnacle Foods, Inc.
PF
|
+$138M |
| 2 |
FCE.A
Forest City Realty Trust, Inc.
FCE.A
|
+$94.5M |
| 3 |
COL
Rockwell Collins
COL
|
+$87M |
| 4 |
KLXI
KLX Inc.
KLXI
|
+$81.4M |
| 5 |
GPT
Gramercy Property Trust
GPT
|
+$79.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 21.01% |
| 2 | Technology | 16.68% |
| 3 | Financials | 16.09% |
| 4 | Utilities | 9.96% |
| 5 | Energy | 5.55% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
BOJA
26
DELISTED
Bojangles', Inc. Common Stock
BOJA
| $14.9M | 1.11% |
+928,503
| New | +$14.9M |
|
|
ENLK
27
DELISTED
EnLink Midstream Partners, LP
ENLK
| $13.6M | 1.01% |
+1,232,143
| New | +$18.2M |
|
28
NETGEAR
NTGR
$653M
| $12.9M | 0.96% |
248,614
+127,045
| +105% | +$6.85M |
|
|
LLL
29
DELISTED
L3 Technologies, Inc.
LLL
| $12.5M | 0.93% |
+71,847
| New | +$13.8M |
|
|
AABA
30
DELISTED
Altaba Inc
AABA
| $10.5M | 0.78% |
181,051
-187,568
| -51% | -$11.6M |
|
|
ITG
31
DELISTED
Investment Technology Group Inc
ITG
| $10.2M | 0.76% |
+336,311
| New | +$9.64M |
|
32
Pacific Biosciences
PACB
$360M
| $10.1M | 0.75% |
+1,364,531
| New | +$8.65M |
|
|
CIVI
33
DELISTED
Civitas Solutions, Inc.
CIVI
| $9.2M | 0.69% |
+525,410
| New | +$7.84M |
|
|
NXTM
34
DELISTED
NxStage Medical Inc.
NXTM
| $8.44M | 0.63% |
294,790
-913,287
| -76% | -$25.9M |
|
|
CVON
35
DELISTED
ConvergeOne Holdings, Inc. Class A Common Stock
CVON
| $7.69M | 0.57% |
+620,825
| New | +$6.84M |
|
|
SPA
36
DELISTED
Sparton
SPA
| $7.41M | 0.55% |
407,450
+397,450
| +3,975% | +$5.83M |
|
37
Ovintiv
OVV
$16.6B
| $7.31M | 0.54% |
+252,834
| New | +$10.9M |
|
|
HDP
38
DELISTED
Hortonworks, Inc.
HDP
| $7.29M | 0.54% |
+505,897
| New | +$8.73M |
|
39
Xerox
XRX
$424M
| $6.88M | 0.51% |
347,913
+75,751
| +28% | +$1.94M |
|
|
EGL
40
DELISTED
Engility Holdings, Inc.
EGL
| $6.79M | 0.51% |
238,577
+78,766
| +49% | +$2.45M |
|
|
WRD
41
DELISTED
WildHorse Resource Development
WRD
| $6.46M | 0.48% |
+457,679
| New | +$9.02M |
|
|
ESIO
42
DELISTED
Electro Scientific Industries
ESIO
| $5.46M | 0.41% |
+182,086
| New | +$4.52M |
|
|
DM
43
DELISTED
Dominion Energy Midstream Ptr LP
DM
| $4.55M | 0.34% |
+251,973
| New | +$4.63M |
|
44
Home Depot
HD
$348B
| $4.27M | 0.32% |
24,857
+15,017
| +153% | +$2.69M |
|
45
Herc Holdings
HRI
$5.63B
| $4.16M | 0.31% |
159,921
+2,421
| +2% | +$84.4K |
|
|
NCOM
46
DELISTED
National Commerce Corporation
NCOM
| $4.01M | 0.3% |
+111,497
| New | +$4.24M |
|
47
State Street Industrial Select Sector SPDR ETF
XLI
$33.6B
| $3.77M | 0.28% |
58,583
+43,093
| +278% | +$3.05M |
|
48
Trinity Industries
TRN
$2.48B
| $3.72M | 0.28% |
180,767
-411,875
| -69% | -$9.5M |
|
49
Papa John's
PZZA
$813M
| $3.51M | 0.26% |
+88,200
| New | +$4.45M |
|
50
Norfolk Southern
NSC
$76.7B
| $2.83M | 0.21% |
18,924
-33,841
| -64% | -$5.57M |
|
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Water Island Capital's Q4 2018 Portfolio in Review
As of Q4 2018, Water Island Capital held 158 positions worth $1.34B, down 27% from $1.85B the previous quarter. Its ten largest holdings account for 52% of the portfolio.
Water Island Capital withdrew a net $320M in Q4 2018, closing 62 positions and reducing 11 holdings. Its most notable exit was Pinnacle Foods, Inc., an estimated $138M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 21% of assets, up from 9% a quarter earlier, followed by Technology and Financials.
Against the trend, Water Island Capital opened a new position in Imperva, Inc. worth $70.2M.
- Water Island Capital's largest Q4 2018 buy was Imperva, Inc.: 1,259,927 shares worth $70.2M.
- Water Island Capital added most to TRIBUNE MEDIA COMPANY CLASS A in Q4 2018, an estimated $73.4M increase.
- Water Island Capital's biggest Q4 2018 reduction was NxStage Medical Inc., cutting an estimated $25.9M.
- Water Island Capital fully exited Pinnacle Foods, Inc. in Q4 2018, selling an estimated $138M.
- Water Island Capital's ten largest holdings make up 52% of its $1.34B portfolio in Q4 2018.
- Water Island Capital opened 53 new positions and closed 62 in Q4 2018.
- Water Island Capital's portfolio value fell 27% quarter-over-quarter to $1.34B.
Based on Water Island Capital's 13F filing for Q4 2018, filed 5 Feb 2019.