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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
+20.62%
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
$1.24B
AUM Growth
-$528M
Cap. Flow
-$612M
Cap. Flow %
-49.4%
Top 10 Hldgs %
46.7%
Holding
131
New
32
Increased
19
Reduced
23
Closed
44

Top Buys

Rank Stock Value
1
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$35.4M
2
ATCO
Atlas Corp.
ATCO
+$23.6M
3
KNBE
KnowBe4, Inc. Class A Common Stock
KNBE
+$23.2M
4
MYOV
Myovant Sciences Ltd.
MYOV
+$23.1M
5
AIMC
Altra Industrial Motion Corp
AIMC
+$21.7M

Top Sells

Rank Stock Value
1
CHNG
Change Healthcare Inc. Common Stock
CHNG
+$93.2M
2
Y
Alleghany Corp
Y
+$83.3M
3
ZEN
ZENDESK INC
ZEN
+$73.1M
4
AVLR
Avalara, Inc.
AVLR
+$53.4M
5
NLSN
Nielsen Holdings plc
NLSN
+$51.1M

Sector Composition

Rank Sector Weight
1 Technology 26.4%
2 Industrials 13.71%
3 Healthcare 13.46%
4 Communication Services 10.9%
5 Energy 7.9%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SIMO icon
26
Silicon Motion
SIMO
$8.68B
$22.8M 1.84%
350,981
+9,040
+3% +$554K
VVNT
27
DELISTED
Vivint Smart Home, Inc. Class A Common Stock
VVNT
$22.7M 1.83%
+1,906,353
New +$17.2M
IRBT
28
DELISTED
iRobot
IRBT
$21.2M 1.71%
440,781
-188,220
-30% -$9.95M
MNTV
29
DELISTED
Momentive Global Inc. Common Stock
MNTV
$15.8M 1.28%
2,261,432
-106,605
-5% -$769K
FORG
30
CALL
DELISTED
ForgeRock, Inc.
FORG
$15M 1.21%
+660,600
New +$14.4M
FORG
31
DELISTED
ForgeRock, Inc.
FORG
$15M 1.21%
+657,416
New +$14.3M
MNTV
32
PUT
DELISTED
Momentive Global Inc. Common Stock
MNTV
$12.1M 0.98%
1,728,000
+1,228,000
+246% +$8.86M
AVEO
33
DELISTED
AVEO Pharmaceuticals, Inc.
AVEO
$10.4M 0.84%
+698,915
New +$9.68M
SPY icon
34
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$823B
$9.56M 0.77%
+25,000
New +$9.61M
IMGO
35
DELISTED
Imago BioSciences, Inc. Common stock
IMGO
$8.4M 0.68%
+233,522
New +$5.84M
BNFT
36
DELISTED
Benefitfocus, Inc.
BNFT
$8.14M 0.66%
+777,804
New +$6.98M
BKI
37
DELISTED
Black Knight, Inc. Common Stock
BKI
$6.85M 0.55%
110,966
-1,697
-2% -$103K
MX icon
38
Magnachip Semiconductor
MX
$145M
$5.76M 0.46%
613,228
-30,139
-5% -$291K
HZNP
39
PUT
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$5.23M 0.42%
+46,000
New +$3.82M
VIVO
40
CALL
DELISTED
Meridian Bioscience Inc
VIVO
$4.98M 0.4%
150,000
-50,000
-25% -$1.61M
APEN
41
DELISTED
Apollo Endosurgery, Inc.
APEN
$4.48M 0.36%
+449,636
New +$3.35M
APEN
42
CALL
DELISTED
Apollo Endosurgery, Inc.
APEN
$3.58M 0.29%
+359,000
New +$2.68M
PARR icon
43
CALL
Par Pacific Holdings
PARR
$3.32B
$2.33M 0.19%
100,000
+50,000
+100% +$1.09M
POSH
44
DELISTED
Poshmark, Inc. Class A Common Stock
POSH
$1.95M 0.16%
+109,328
New +$1.94M
ML
45
DELISTED
MoneyLion Inc.
ML
$1.93M 0.16%
103,670
-5,196
-5% -$128K
MGI
46
DELISTED
MoneyGram International, Inc. New
MGI
$1.65M 0.13%
151,430
+103,984
+219% +$1.11M
USER
47
CALL
DELISTED
UserTesting, Inc.
USER
$1.32M 0.11%
+175,900
New +$1.13M
HIG icon
48
Hartford Financial Services
HIG
$39.3B
$1.31M 0.11%
17,272
-273
-2% -$19.7K
COWN
49
DELISTED
Cowen Inc. Class A Common Stock
COWN
$1.28M 0.1%
33,226
-416,190
-93% -$16.1M
SAVE
50
DELISTED
Spirit Airlines, Inc.
SAVE
$1.2M 0.1%
61,433
+701
+1% +$14.4K
1
2
3 4 5

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Water Island Capital's Q4 2022 Portfolio in Review

As of Q4 2022, Water Island Capital held 131 positions worth $1.24B, down 30% from $1.77B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Water Island Capital withdrew a net $612M in Q4 2022, closing 44 positions and reducing 23 holdings. Its most notable exit was Change Healthcare Inc. Common Stock, an estimated $93.2M position sold in full.

By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 33% a quarter earlier, followed by Industrials and Healthcare.

Against the trend, Water Island Capital opened a new position in Horizon Therapeutics Public Limited Company Ordinary Shares worth $48.5M.

  • Water Island Capital's largest Q4 2022 buy was Horizon Therapeutics Public Limited Company Ordinary Shares: 426,020 shares worth $48.5M.
  • Water Island Capital added most to Shaw Communications Inc. in Q4 2022, an estimated $15.6M increase.
  • Water Island Capital's biggest Q4 2022 reduction was Cowen Inc. Class A Common Stock, cutting an estimated $16.1M.
  • Water Island Capital fully exited Change Healthcare Inc. Common Stock in Q4 2022, selling an estimated $93.2M.
  • Water Island Capital's ten largest holdings make up 47% of its $1.24B portfolio in Q4 2022.
  • Water Island Capital opened 32 new positions and closed 44 in Q4 2022.
  • Water Island Capital's portfolio value fell 30% quarter-over-quarter to $1.24B.

Based on Water Island Capital's 13F filing for Q4 2022, filed 14 Feb 2023.