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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
XRX icon
51
CALL
Xerox
XRX
$425M
$1.02M 0.08%
70,000
+32,500
+87% +$490K
CZR icon
52
CALL
Caesars Entertainment
CZR
$6.14B
$832K 0.07%
20,000
– –
HWM icon
53
CALL
Howmet Aerospace
HWM
$112B
$828K 0.07%
+21,000
New +$765K
GEN icon
54
CALL
Gen Digital
GEN
$17.5B
$825K 0.07%
+38,500
New +$850K
BHM icon
55
Bluerock Homes Trust
BHM
$34.9M
$823K 0.07%
+38,628
New +$903K
PFHD
56
DELISTED
Professional Holding Corp. Class A Common stock
PFHD
$620K 0.05%
22,344
+5,382
+32% +$149K
IAA
57
DELISTED
IAA, Inc. Common Stock
IAA
$606K 0.05%
+15,156
New +$572K
LBAI
58
DELISTED
Lakeland Bancorp Inc
LBAI
$575K 0.05%
+32,667
New +$583K
UNIT
59
CALL
Uniti Group
UNIT
$2.32B
$553K 0.04%
100,000
+67,500
+208% +$463K
SPNE
60
DELISTED
SeaSpine Holdings Corporation Common Stock
SPNE
$468K 0.04%
+56,031
New +$377K
AMD icon
61
Advanced Micro Devices
AMD
$789B
$340K 0.03%
5,250
+186
+4% +$12.3K
ZLAB icon
62
Zai Lab
ZLAB
$2.62B
$307K 0.02%
10,000
-350
-3% -$11K
NVDA icon
63
NVIDIA
NVDA
$5.42T
$303K 0.02%
20,750
+1,750
+9% +$25.7K
EQT icon
64
EQT Corp
EQT
$32.3B
$301K 0.02%
+8,900
New +$357K
FIVN icon
65
FIVE9
FIVN
$2.54B
$278K 0.02%
4,100
-200
-5% -$12.6K
PYPL icon
66
PayPal
PYPL
$50.5B
$253K 0.02%
3,550
+556
+19% +$44.5K
AURA icon
67
Aura Biosciences
AURA
$826M
$247K 0.02%
23,500
+12,800
+120% +$163K
CZR icon
68
Caesars Entertainment
CZR
$6.14B
$243K 0.02%
+5,850
New +$260K
GXO icon
69
GXO Logistics
GXO
$5.55B
$235K 0.02%
5,500
-1,350
-20% -$54.1K
CANO
70
DELISTED
Cano Health, Inc.
CANO
$178K 0.01%
1,300
-179
-12% -$60.6K
DISH
71
DELISTED
DISH Network Corp.
DISH
$177K 0.01%
+12,600
New +$186K
PACB icon
72
Pacific Biosciences
PACB
$370M
$139K 0.01%
+17,000
New +$146K
PRTK
73
DELISTED
Paratek Pharmaceuticals, Inc.
PRTK
$92.6K 0.01%
49,510
– –
SOFI icon
74
SoFi Technologies
SOFI
$23.7B
$57.6K ﹤0.01%
12,500
– –
CLSD
75
DELISTED
Clearside Biomedical
CLSD
$52.6K ﹤0.01%
+3,133
New +$56.4K
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.