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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
+5.89%
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
$1.61B
AUM Growth
-$2.71B
Cap. Flow
-$2.74B
Cap. Flow %
-170.2%
Top 10 Hldgs %
64.88%
Holding
127
New
30
Increased
11
Reduced
34
Closed
49

Top Buys

Rank Stock Value
1
GWR
Genesee & Wyoming Inc.
GWR
+$50.1M
2
BPL
Buckeye Partners, L.P.
BPL
+$47.7M
3
ZAYO
Zayo Group Holdings, Inc.
ZAYO
+$44.9M
4
MCRN
Milacron Holdings Corp.
MCRN
+$43.2M
5
NCI
Navigant Consulting, Inc.
NCI
+$39.1M

Top Sells

Rank Stock Value
1
LLL
L3 Technologies, Inc.
LLL
+$348M
2
RHT
Red Hat Inc
RHT
+$342M
3
APC
Anadarko Petroleum
APC
+$296M
4
TRCO
TRIBUNE MEDIA COMPANY CLASS A
TRCO
+$266M
5
FDC
First Data Corporation
FDC
+$261M

Sector Composition

Rank Sector Weight
1 Industrials 23.93%
2 Healthcare 17.86%
3 Technology 10.93%
4 Financials 9.82%
5 Consumer Discretionary 8.51%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
APD icon
76
Air Products & Chemicals
APD
$67.6B
– –
-24,096
Closed -$5.45M
BNED icon
77
Barnes & Noble Education
BNED
$443M
– –
-24,489
Closed -$16.4M
CZR icon
78
CALL
Caesars Entertainment
CZR
$6.14B
– –
-264,600
Closed -$172K
DXC icon
79
CALL
DXC Technology
DXC
$1.73B
– –
-130,000
Closed -$448K
FNF icon
80
CALL
Fidelity National Financial
FNF
$13.5B
– –
-611,520
Closed -$86K
FOXA icon
81
PUT
Fox Class A
FOXA
$26.9B
– –
-863,400
Closed -$820K
HWM icon
82
Howmet Aerospace
HWM
$113B
– –
-337,749
Closed -$43.4M
NSC icon
83
Norfolk Southern
NSC
$75.1B
– –
-17,556
Closed -$3.5M
OXY icon
84
CALL
Occidental Petroleum
OXY
$55.9B
– –
-1,172,800
Closed -$780K
TFC icon
85
CALL
Truist Financial
TFC
$64B
– –
-1,214,600
Closed -$188K
PRSP
86
DELISTED
Perspecta Inc. Common Stock
PRSP
– –
-265,602
Closed -$6.22M
QEP
87
CALL
DELISTED
QEP RESOURCES, INC.
QEP
– –
-457,600
Closed -$148K
CNXM
88
DELISTED
CNX Midstream Partners LP
CNXM
– –
-31,000
Closed -$436K
LOGM
89
PUT
DELISTED
LogMein, Inc.
LOGM
– –
-95,600
Closed -$340K
WCG
90
PUT
DELISTED
Wellcare Health Plans, Inc.
WCG
– –
-105,600
Closed -$190K
OAK
91
DELISTED
OAKTREE CAPITAL GROUP, LLC
OAK
– –
-1,493,234
Closed -$74M
DFRG
92
DELISTED
Del Frisco's Restaurant Group, Inc. Common Stock
DFRG
– –
-2,016,000
Closed -$16M
SFLY
93
DELISTED
Shutterfly, Inc.
SFLY
– –
-645,694
Closed -$32.6M
CRAY
94
DELISTED
Cray, Inc.
CRAY
– –
-1,101,468
Closed -$38.4M
IMI
95
DELISTED
Intermolecular, Inc.
IMI
– –
-1,994,168
Closed -$2.33M
AQ
96
DELISTED
Aquantia Corp. Common Stock
AQ
– –
-1,327,540
Closed -$17.3M
CHSP
97
DELISTED
Chesapeake Lodging Trust
CHSP
– –
-813,402
Closed -$23.1M
WAGE
98
DELISTED
WageWorks, Inc.
WAGE
– –
-1,002,768
Closed -$50.9M
PCMI
99
DELISTED
PCM, Inc
PCMI
– –
-168,418
Closed -$5.9M
APU
100
DELISTED
AmeriGas Partners, L.P.
APU
– –
-4,248,684
Closed -$148M
1 2 3
4
5

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WP
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BFFIM
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SFM
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BWP
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Water Island Capital's Q3 2019 Portfolio in Review

As of Q3 2019, Water Island Capital held 127 positions worth $1.61B, down 63% from $4.32B the previous quarter. Its ten largest holdings account for 65% of the portfolio.

Water Island Capital withdrew a net $2.74B in Q3 2019, closing 49 positions and reducing 34 holdings. Its most notable exit was L3 Technologies, Inc., an estimated $348M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 24% of assets, up from 16% a quarter earlier, followed by Healthcare and Technology.

Against the trend, Water Island Capital opened a new position in Genesee & Wyoming Inc. worth $50.3M.

  • Water Island Capital's largest Q3 2019 buy was Genesee & Wyoming Inc.: 455,324 shares worth $50.3M.
  • Water Island Capital added most to Buckeye Partners, L.P. in Q3 2019, an estimated $47.7M increase.
  • Water Island Capital's biggest Q3 2019 reduction was Celgene Corp, cutting an estimated $87.6M.
  • Water Island Capital fully exited L3 Technologies, Inc. in Q3 2019, selling an estimated $348M.
  • Water Island Capital's ten largest holdings make up 65% of its $1.61B portfolio in Q3 2019.
  • Water Island Capital opened 30 new positions and closed 49 in Q3 2019.
  • Water Island Capital's portfolio value fell 63% quarter-over-quarter to $1.61B.

Based on Water Island Capital's 13F filing for Q3 2019, filed 12 Nov 2019.