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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
+2.31%
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
$1.6B
AUM Growth
-$370M
Cap. Flow
-$284M
Cap. Flow %
-17.76%
Top 10 Hldgs %
39.13%
Holding
121
New
37
Increased
18
Reduced
23
Closed
33

Top Buys

Rank Stock Value
1
CDK
CDK Global, Inc.
CDK
+$55.3M
2
ZEN
ZENDESK INC
ZEN
+$50.7M
3
SAIL
SailPoint Technologies Holdings, Inc. Common Stock
SAIL
+$42.8M
4
ACC
American Campus Communities, Inc.
ACC
+$36.4M
5
SWCH
Switch, Inc. Class A Common Stock
SWCH
+$32.2M

Top Sells

Rank Stock Value
1
COHR
Coherent Inc
COHR
+$71.3M
2
CERN
Cerner Corp
CERN
+$66.9M
3
HMHC
Houghton Mifflin Harcourt Company
HMHC
+$60.4M
4
PLAN
Anaplan, Inc.
PLAN
+$57.9M
5
MIME
Mimecast Limited
MIME
+$54.8M

Sector Composition

Rank Sector Weight
1 Technology 33.06%
2 Industrials 17.99%
3 Communication Services 11.95%
4 Financials 8.43%
5 Healthcare 6.12%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
76
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$823B
$1K ﹤0.01%
15,000
-7,500
-33% -$3.07M
UNIT
77
CALL
Uniti Group
UNIT
$2.32B
$1K ﹤0.01%
20,000
-50,000
-71% -$578K
BGS icon
78
CALL
B&G Foods
BGS
$286M
– –
-20,000
Closed -$3K
BKKT icon
79
Bakkt Inc
BKKT
$337M
– –
-5,648
Closed -$870K
HR icon
80
Healthcare Realty
HR
$6.84B
– –
-1,312,262
Closed -$41.1M
MKSI icon
81
CALL
MKS Inc
MKSI
$20.6B
– –
-59,000
Closed -$92K
TSEM icon
82
Tower Semiconductor
TSEM
$28.5B
– –
-164,486
Closed -$7.96M
TTWO icon
83
CALL
Take-Two Interactive
TTWO
$46.1B
– –
-40,900
Closed -$59K
ML.WS
84
DELISTED
MoneyLion Inc. Warrants, each whole warrant exercisable 1/30th of a share of Class A common stock at an exercise price of $345.00 per whole share
ML.WS
$0 ﹤0.01%
+338,520
New +$84.8K
SAVE
85
DELISTED
Spirit Airlines, Inc.
SAVE
– –
-237,966
Closed -$5.2M
FRTX
86
DELISTED
Fresh Tracks Therapeutics, Inc. Common Stock
FRTX
– –
-2,222
Closed -$27K
KLR
87
DELISTED
Kaleyra, Inc.
KLR
– –
-51,111
Closed -$1.07M
ZEV.WS
88
DELISTED
Lightning eMotors, Inc. Redeemable Warrants, each whole warrant exercisable 1/20th of a share of common stock at an exercise price of $230.00 per whole share
ZEV.WS
$0 ﹤0.01%
+53,913
New +$31K
DBD
89
CALL
DELISTED
Diebold Nixdorf Incorporated
DBD
– –
-31,000
Closed -$2K
APTS
90
DELISTED
Preferred Apartment Communities, Inc.
APTS
– –
-1,175,423
Closed -$29.3M
PLAN
91
DELISTED
Anaplan, Inc.
PLAN
– –
-889,775
Closed -$57.9M
CERN
92
DELISTED
Cerner Corp
CERN
– –
-714,690
Closed -$66.9M
TSC
93
DELISTED
TriState Capital Holdings, Inc.
TSC
– –
-31,415
Closed -$1.04M
OCDX
94
DELISTED
Ortho Clinical Diagnostics Holdings plc Ordinary Shares
OCDX
– –
-27,188
Closed -$507K
ANAT
95
DELISTED
American National Group, Inc. Common Stock
ANAT
– –
-5,289
Closed -$1M
IIN
96
DELISTED
IntriCon Corporation
IIN
– –
-17,775
Closed -$424K
ZNGA
97
DELISTED
ZYNGA INC. CL A COMMON
ZNGA
– –
-2,969,027
Closed -$27.4M
MIME
98
DELISTED
Mimecast Limited
MIME
– –
-688,596
Closed -$54.8M
XENT
99
DELISTED
Intersect ENT, Inc
XENT
– –
-15,866
Closed -$444K
EPAY
100
DELISTED
Bottomline Technologies Inc
EPAY
– –
-907,220
Closed -$51.4M
1 2 3
4
5

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Water Island Capital's Q2 2022 Portfolio in Review

As of Q2 2022, Water Island Capital held 121 positions worth $1.6B, down 19% from $1.97B the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Water Island Capital withdrew a net $284M in Q2 2022, closing 33 positions and reducing 23 holdings. Its most notable exit was Cerner Corp, an estimated $66.9M position sold in full.

By sector, the portfolio is most concentrated in Technology at 33% of assets, up from 31% a quarter earlier, followed by Industrials and Communication Services.

Against the trend, Water Island Capital opened a new position in CDK Global, Inc. worth $56M.

  • Water Island Capital's largest Q2 2022 buy was CDK Global, Inc.: 1,022,477 shares worth $56M.
  • Water Island Capital added most to Alleghany Corp in Q2 2022, an estimated $18.6M increase.
  • Water Island Capital's biggest Q2 2022 reduction was Coherent Inc, cutting an estimated $71.3M.
  • Water Island Capital fully exited Cerner Corp in Q2 2022, selling an estimated $66.9M.
  • Water Island Capital's ten largest holdings make up 39% of its $1.6B portfolio in Q2 2022.
  • Water Island Capital opened 37 new positions and closed 33 in Q2 2022.
  • Water Island Capital's portfolio value fell 19% quarter-over-quarter to $1.6B.

Based on Water Island Capital's 13F filing for Q2 2022, filed 15 Aug 2022.