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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
+26.89%
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
$1.01B
AUM Growth
-$106M
Cap. Flow
-$228M
Cap. Flow %
-22.52%
Top 10 Hldgs %
57.11%
Holding
116
New
34
Increased
7
Reduced
6
Closed
58

Top Buys

Rank Stock Value
1
PXD
Pioneer Natural Resource Co.
PXD
+$84M
2
HES
Hess
HES
+$78M
3
SRC
SPIRIT REALTY CAPITAL, INC.
SRC
+$50M
4
SPLK
Splunk Inc
SPLK
+$43.5M
5
AMED
Amedisys
AMED
+$43.1M

Top Sells

Rank Stock Value
1
ATVI
Activision Blizzard
ATVI
+$104M
2
VMW
VMware, Inc
VMW
+$86.9M
3
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$79.7M
4
DEN
Denbury Inc.
DEN
+$51.6M
5
SGEN
Seagen Inc. Common Stock
SGEN
+$49.6M

Sector Composition

Rank Sector Weight
1 Healthcare 23.44%
2 Energy 18.2%
3 Technology 14.93%
4 Consumer Staples 10.22%
5 Real Estate 10.09%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LBAI
76
DELISTED
Lakeland Bancorp Inc
LBAI
– –
-39,714
Closed -$501K
AEL
77
DELISTED
American Equity Investment Life Holding Company
AEL
– –
-286,671
Closed -$15.4M
SGEN
78
DELISTED
Seagen Inc. Common Stock
SGEN
– –
-233,580
Closed -$49.6M
ABCM
79
DELISTED
Abcam PLC
ABCM
– –
-1,419,326
Closed -$32.1M
HEP
80
DELISTED
Holly Energy Partners, L.P.
HEP
– –
-468,002
Closed -$10.3M
VRTV
81
DELISTED
VERITIV CORPORATION
VRTV
– –
-47,137
Closed -$7.96M
GHL
82
DELISTED
Greenhill & Co., Inc.
GHL
– –
-31,837
Closed -$471K
PACW
83
DELISTED
PacWest Bancorp
PACW
– –
-2,332,351
Closed -$18.4M
HT
84
CALL
DELISTED
Hersha Hospitality Trust Priority Class A Common Shares of Beneficial Interest
HT
– –
-537,400
Closed -$5.3M
HT
85
DELISTED
Hersha Hospitality Trust Priority Class A Common Shares of Beneficial Interest
HT
– –
-313,062
Closed -$3.09M
AVTA
86
DELISTED
Avantax, Inc. Common Stock
AVTA
– –
-787,549
Closed -$20.1M
VMW
87
DELISTED
VMware, Inc
VMW
– –
-522,177
Closed -$86.9M
SCU
88
DELISTED
Sculptor Capital Management, Inc. Class A Common Stock
SCU
– –
-629,300
Closed -$7.3M
CCF
89
DELISTED
Chase Corporation
CCF
– –
-62,997
Closed -$8.02M
NXGN
90
DELISTED
NextGen Healthcare, Inc. Common Stock
NXGN
– –
-846,680
Closed -$20.1M
NEWR
91
DELISTED
New Relic, Inc.
NEWR
– –
-424,267
Closed -$36.3M
TWNK
92
DELISTED
Hostess Brands, Inc. Class A Common Stock
TWNK
– –
-853,795
Closed -$28.4M
AVID
93
DELISTED
Avid Technology Inc
AVID
– –
-1,199,094
Closed -$32.2M
TRHC
94
DELISTED
Tabula Rasa HealthCare, Inc. Common Stock
TRHC
– –
-269,001
Closed -$2.77M
DEN
95
DELISTED
Denbury Inc.
DEN
– –
-526,336
Closed -$51.6M
FRGI
96
DELISTED
Fiesta Restaurant Group, Inc.
FRGI
– –
-725,584
Closed -$6.14M
SCPL
97
DELISTED
SciPlay Corporation Class A Common Stock
SCPL
– –
-151,925
Closed -$3.46M
CIR
98
DELISTED
CIRCOR International, Inc
CIR
– –
-123,489
Closed -$6.88M
HCCI
99
DELISTED
Heritage-Crystal Clean, Inc.
HCCI
– –
-547,480
Closed -$24.8M
THRN
100
DELISTED
Thorne Healthtech, Inc. Common Stock
THRN
– –
-99,697
Closed -$1.02M
1 2 3
4
5

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Water Island Capital's Q4 2023 Portfolio in Review

As of Q4 2023, Water Island Capital held 116 positions worth $1.01B, down 9.5% from $1.12B the previous quarter. Its ten largest holdings account for 57% of the portfolio.

Water Island Capital withdrew a net $228M in Q4 2023, closing 58 positions and reducing 6 holdings. Its most notable exit was Activision Blizzard, an estimated $104M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 23% of assets, up from 17% a quarter earlier, followed by Energy and Technology.

Against the trend, Water Island Capital opened a new position in Pioneer Natural Resource Co. worth $80.6M.

  • Water Island Capital's largest Q4 2023 buy was Pioneer Natural Resource Co.: 358,308 shares worth $80.6M.
  • Water Island Capital added most to Splunk Inc in Q4 2023, an estimated $43.5M increase.
  • Water Island Capital's biggest Q4 2023 reduction was TXNM Energy Inc, cutting an estimated $40.7M.
  • Water Island Capital fully exited Activision Blizzard in Q4 2023, selling an estimated $104M.
  • Water Island Capital's ten largest holdings make up 57% of its $1.01B portfolio in Q4 2023.
  • Water Island Capital opened 34 new positions and closed 58 in Q4 2023.
  • Water Island Capital's portfolio value fell 9.5% quarter-over-quarter to $1.01B.

Based on Water Island Capital's 13F filing for Q4 2023, filed 13 Feb 2024.