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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
+12.74%
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
$1.99B
AUM Growth
-$495M
Cap. Flow
-$424M
Cap. Flow %
-21.34%
Top 10 Hldgs %
49.49%
Holding
162
New
62
Increased
16
Reduced
21
Closed
58

Top Buys

Rank Stock Value
1
PCP
PRECISION CASTPARTS CORP
PCP
+$125M
2
CB
CHUBB CORPORATION
CB
+$114M
3
CYT
CYTEC INDS INC
CYT
+$94.9M
4
THOR
THORATEC CORPORATION
THOR
+$89.7M
5
SYA
SYMETRA FINANCIAL CORPORATION COMMON STOCK
SYA
+$72.6M

Top Sells

Rank Stock Value
1
DTV
DIRECTV COM STK (DE)
DTV
+$218M
2
HSP
HOSPIRA INC
HSP
+$171M
3
MWV
MEADWESTVACO CORP
MWV
+$169M
4
CTRX
CATAMARAN CORP COM STK (CDA)
CTRX
+$140M
5
INFA
INFORMATICA CORP
INFA
+$96.5M

Sector Composition

Rank Sector Weight
1 Financials 22.47%
2 Industrials 12.32%
3 Energy 9.57%
4 Communication Services 6.41%
5 Materials 5.29%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AXS icon
101
PUT
AXIS Capital
AXS
$7.62B
– –
-159,700
Closed -$132K
AXTA icon
102
CALL
Axalta
AXTA
$8.03B
– –
-293,200
Closed -$249K
BALL icon
103
Ball Corp
BALL
$16.7B
– –
-432
Closed -$15.2K
CHTR icon
104
Charter Communications
CHTR
$18.8B
– –
-150
Closed -$27.4K
HON icon
105
Honeywell
HON
$76.3B
– –
-111
Closed -$10.2K
HPQ icon
106
PUT
HP
HPQ
$25.8B
– –
-461,759
Closed -$113K
ILMN icon
107
Illumina
ILMN
$29.3B
– –
-1,850
Closed -$393K
MAC icon
108
Macerich
MAC
$6.66B
– –
-153,143
Closed -$11.4M
MCHP icon
109
PUT
Microchip Technology
MCHP
$40.4B
– –
-15,000
Closed -$16.9K
TAP icon
110
Molson Coors Class B
TAP
$7.92B
– –
-121,319
Closed -$8.47M
TEVA icon
111
Teva Pharmaceuticals
TEVA
$40.6B
– –
-311,678
Closed -$18.4M
TMUS icon
112
T-Mobile US
TMUS
$193B
– –
-49,100
Closed -$1.9M
WMB icon
113
CALL
Williams Companies
WMB
$87.8B
– –
-1,499,100
Closed -$3.79M
YELP icon
114
Yelp
YELP
$1.38B
– –
-129,879
Closed -$5.59M
RDS.B
115
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
– –
-84,900
Closed -$4.87M
NBL
116
CALL
DELISTED
Noble Energy, Inc.
NBL
– –
-137,500
Closed -$17.2K
AGN
117
DELISTED
Allergan plc
AGN
– –
-78,184
Closed -$23.7M
VIAB
118
DELISTED
Viacom Inc. Class B
VIAB
– –
-27,892
Closed -$1.8M
WFT
119
DELISTED
Weatherford International plc
WFT
– –
-638,671
Closed -$7.84M
WFT
120
PUT
DELISTED
Weatherford International plc
WFT
– –
-194,200
Closed -$65.1K
FTRPR
121
DELISTED
Frontier Communications Corporation 11.125% Series A Mandatory Convertible Preferred Stock
FTRPR
– –
-4,882
Closed -$485K
DYN
122
CALL
DELISTED
Dynegy, Inc.
DYN
– –
-21,600
Closed -$12.3K
ALTR
123
DELISTED
Altera Corp
ALTR
– –
-1,047,655
Closed -$52.1M
ISSI
124
DELISTED
INTEGRATED SILICON SOLUTN INC
ISSI
– –
-288,741
Closed -$6.39M
HME
125
DELISTED
HOME PROPERTIES, INC
HME
– –
-72,000
Closed -$5.26M
3 4
5
6 7

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Water Island Capital's Q3 2015 Portfolio in Review

As of Q3 2015, Water Island Capital held 162 positions worth $1.99B, down 20% from $2.48B the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Water Island Capital withdrew a net $424M in Q3 2015, closing 58 positions and reducing 21 holdings. Its most notable exit was DIRECTV COM STK (DE), an estimated $218M position sold in full.

By sector, the portfolio is most concentrated in Financials at 22% of assets, up from 5.5% a quarter earlier, followed by Industrials and Energy.

Against the trend, Water Island Capital opened a new position in PRECISION CASTPARTS CORP worth $134M.

  • Water Island Capital's largest Q3 2015 buy was PRECISION CASTPARTS CORP: 581,805 shares worth $134M.
  • Water Island Capital added most to PARTNERRE LTD in Q3 2015, an estimated $46.9M increase.
  • Water Island Capital's biggest Q3 2015 reduction was Williams Partners L.P., cutting an estimated $24M.
  • Water Island Capital fully exited DIRECTV COM STK (DE) in Q3 2015, selling an estimated $218M.
  • Water Island Capital's ten largest holdings make up 49% of its $1.99B portfolio in Q3 2015.
  • Water Island Capital opened 62 new positions and closed 58 in Q3 2015.
  • Water Island Capital's portfolio value fell 20% quarter-over-quarter to $1.99B.

Based on Water Island Capital's 13F filing for Q3 2015, filed 13 Nov 2015.