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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
+9.24%
1 Year Est. Return
+107.59%
3 Year Est. Return
+414.38%
5 Year Est. Return
+1,508.69%
10 Year Est. Return
+23,520.55%
AUM
$1.62B
AUM Growth
-$490M
Cap. Flow
-$530M
Cap. Flow %
-32.65%
Top 10 Hldgs %
53.52%
Holding
154
New
49
Increased
22
Reduced
11
Closed
64

Top Buys

Rank Stock Value
1
NXPI icon
NXP Semiconductors
NXPI
+$60.2M
2
BSFT
BroadSoft, Inc.
BSFT
+$44.2M
3
HSNI
HSN, Inc.
HSNI
+$43.3M
4
BOBE
Bob Evans Farms, Inc.
BOBE
+$41.3M
5
AAAP
Advanced Accelerator Applications S.A.
AAAP
+$32.5M

Top Sells

Rank Stock Value
1
BCR
CR Bard Inc.
BCR
+$145M
2
PRXL
Parexel International Corp
PRXL
+$132M
3
VWR
VWR Corporation
VWR
+$84.7M
4
FIG
Fortress Investment Group Llc
FIG
+$83.7M
5
AF
Astoria Financial Corporation
AF
+$77.6M

Sector Composition

Rank Sector Weight
1 Technology 26.5%
2 Communication Services 14.88%
3 Consumer Discretionary 11.33%
4 Utilities 6.42%
5 Healthcare 5.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MGM icon
101
MGM Resorts International
MGM
$11.4B
– –
-50,170
Closed -$1.64M
ORCL icon
102
Oracle
ORCL
$409B
– –
-4,923
Closed -$238K
PENN icon
103
PENN Entertainment
PENN
$2.67B
– –
-27,260
Closed -$638K
QDEL icon
104
QuidelOrtho
QDEL
$1.21B
– –
-125,000
Closed -$5.48M
RMBS icon
105
Rambus
RMBS
$10B
– –
-10,507
Closed -$140K
RTX icon
106
CALL
RTX Corp
RTX
$292B
– –
-688,832
Closed -$34.6M
T icon
107
PUT
AT&T
T
$162B
– –
-817,438
Closed -$32M
TMUS icon
108
T-Mobile US
TMUS
$190B
– –
-100,177
Closed -$6.18M
TNL icon
109
Travel + Leisure Co
TNL
$4.72B
– –
-37,919
Closed -$1.8M
WBD icon
110
CALL
Warner Bros
WBD
$65.4B
– –
-178,600
Closed -$4.21M
XLK icon
111
State Street Technology Select Sector SPDR ETF
XLK
$117B
– –
-68,200
Closed -$2.02M
CSOD
112
DELISTED
Cornerstone OnDemand, Inc.
CSOD
– –
-60,000
Closed -$2.44M
CSOD
113
PUT
DELISTED
Cornerstone OnDemand, Inc.
CSOD
– –
-62,100
Closed -$2.33M
NBL
114
DELISTED
Noble Energy, Inc.
NBL
– –
-15,000
Closed -$425K
CNXM
115
DELISTED
CNX Midstream Partners LP
CNXM
– –
-30,800
Closed -$488K
AKRX
116
DELISTED
Akorn Inc
AKRX
– –
-761,778
Closed -$25.3M
S
117
DELISTED
Sprint Corporation
S
– –
-200,000
Closed -$1.56M
FCE.A
118
DELISTED
Forest City Realty Trust, Inc.
FCE.A
– –
-185,000
Closed -$4.72M
PNK
119
DELISTED
Pinnacle Entertainment Inc.
PNK
– –
-26,970
Closed -$575K
ILG
120
DELISTED
ILG, Inc Common Stock
ILG
– –
-180,000
Closed -$4.81M
BGC
121
PUT
DELISTED
General Cable Corporation
BGC
– –
-275,000
Closed -$4.4M
IPXL
122
DELISTED
Impax Laboratories, Inc.
IPXL
– –
-190,000
Closed -$3.86M
SNI
123
DELISTED
Scripps Networks Interactive, Inc Common Class A
SNI
– –
-633,798
Closed -$54.4M
FIG
124
DELISTED
Fortress Investment Group Llc
FIG
– –
-10,502,410
Closed -$83.7M
TESO
125
DELISTED
Tesco Corp
TESO
– –
-1,497,814
Closed -$8.16M
3 4
5
6 7

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FTM
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WP
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BFFIM
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DA
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Water Island Capital's Q4 2017 Portfolio in Review

As of Q4 2017, Water Island Capital held 154 positions worth $1.62B, down 23% from $2.11B the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Water Island Capital withdrew a net $530M in Q4 2017, closing 64 positions and reducing 11 holdings. Its most notable exit was CR Bard Inc., an estimated $145M position sold in full.

By sector, the portfolio is most concentrated in Technology at 27% of assets, up from 15% a quarter earlier, followed by Communication Services and Consumer Discretionary.

Against the trend, Water Island Capital opened a new position in BroadSoft, Inc. worth $44.5M.

  • Water Island Capital's largest Q4 2017 buy was BroadSoft, Inc.: 811,151 shares worth $44.5M.
  • Water Island Capital added most to NXP Semiconductors in Q4 2017, an estimated $60.2M increase.
  • Water Island Capital's biggest Q4 2017 reduction was Time Warner Inc, cutting an estimated $37.6M.
  • Water Island Capital fully exited CR Bard Inc. in Q4 2017, selling an estimated $145M.
  • Water Island Capital's ten largest holdings make up 54% of its $1.62B portfolio in Q4 2017.
  • Water Island Capital opened 49 new positions and closed 64 in Q4 2017.
  • Water Island Capital's portfolio value fell 23% quarter-over-quarter to $1.62B.

Based on Water Island Capital's 13F filing for Q4 2017, filed 13 Feb 2018.