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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
ISO
76
DELISTED
IsoPlexis Corporation Common Stock
ISO
$34.1K ﹤0.01%
+22,000
New +$33K
BIRD icon
77
Smartbird Inc
BIRD
$22.3M
$24.2K ﹤0.01%
500
– –
ML.WS
78
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
$12.9K ﹤0.01%
313,400
-25,120
-7% -$2.63K
ZEV.WS
79
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
$2.09K ﹤0.01%
53,913
– –
AVGO icon
80
CALL
Broadcom
AVGO
$2.04T
– –
-510,000
Closed -$236K
BHVN icon
81
Biohaven
BHVN
$2.21B
– –
-226,931
Closed -$33.5M
OEF icon
82
CALL
iShares S&P 100 ETF
OEF
$20.5B
– –
-25,800
Closed -$41K
RNG icon
83
RingCentral
RNG
$5.28B
– –
-5,750
Closed -$230K
SNOW icon
84
Snowflake
SNOW
$115B
– –
-1,175
Closed -$200K
TU icon
85
Telus
TU
$15.3B
– –
-39,937
Closed -$792K
U icon
86
CALL
Unity
U
$18.9B
– –
-117,200
Closed -$11K
WCC
87
CALL
WESCO International
WCC
$17.7B
– –
-13,000
Closed -$2K
WTW icon
88
Willis Towers Watson
WTW
$32B
– –
-111,368
Closed -$22.4M
XPO icon
89
CALL
XPO
XPO
$23.7B
– –
-21,879
Closed -$11K
CANO
90
CALL
DELISTED
Cano Health, Inc.
CANO
– –
-820
Closed -$73K
VIVO
91
DELISTED
Meridian Bioscience Inc
VIVO
– –
-153,757
Closed -$4.95M
BTRS
92
DELISTED
BTRS Holdings Inc. Class 1 Common Stock
BTRS
– –
-2,488,010
Closed -$23M
UPH
93
DELISTED
UpHealth, Inc.
UPH
– –
-8,875
Closed -$47K
SWCH
94
DELISTED
Switch, Inc. Class A Common Stock
SWCH
– –
-1,279,659
Closed -$43.1M
CLR
95
DELISTED
CONTINENTAL RESOURCES INC.
CLR
– –
-3,100
Closed -$207K
ZEN
96
CALL
DELISTED
ZENDESK INC
ZEN
– –
-374,000
Closed -$9K
ZEN
97
DELISTED
ZENDESK INC
ZEN
– –
-960,775
Closed -$73.1M
AERI
98
DELISTED
Aerie Pharmaceuticals
AERI
– –
-2,082,516
Closed -$31.5M
TEN
99
DELISTED
Tenneco Inc. Class A Voting Common Stock
TEN
– –
-1,899,302
Closed -$33M
ECOM
100
DELISTED
CHANNELADVISOR CORPORATION
ECOM
– –
-1,094,532
Closed -$24.8M
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.