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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
+5.89%
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
$1.61B
AUM Growth
-$2.71B
Cap. Flow
-$2.74B
Cap. Flow %
-170.2%
Top 10 Hldgs %
64.88%
Holding
127
New
30
Increased
11
Reduced
34
Closed
49

Top Buys

Rank Stock Value
1
GWR
Genesee & Wyoming Inc.
GWR
+$50.1M
2
BPL
Buckeye Partners, L.P.
BPL
+$47.7M
3
ZAYO
Zayo Group Holdings, Inc.
ZAYO
+$44.9M
4
MCRN
Milacron Holdings Corp.
MCRN
+$43.2M
5
NCI
Navigant Consulting, Inc.
NCI
+$39.1M

Top Sells

Rank Stock Value
1
LLL
L3 Technologies, Inc.
LLL
+$348M
2
RHT
Red Hat Inc
RHT
+$342M
3
APC
Anadarko Petroleum
APC
+$296M
4
TRCO
TRIBUNE MEDIA COMPANY CLASS A
TRCO
+$266M
5
FDC
First Data Corporation
FDC
+$261M

Sector Composition

Rank Sector Weight
1 Industrials 23.93%
2 Healthcare 17.86%
3 Technology 10.93%
4 Financials 9.82%
5 Consumer Discretionary 8.51%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HIVE
101
DELISTED
Aerohive Networks
HIVE
– –
-1,696,000
Closed -$7.51M
APC
102
DELISTED
Anadarko Petroleum
APC
– –
-4,192,264
Closed -$296M
APC
103
PUT
DELISTED
Anadarko Petroleum
APC
– –
-3,682,800
Closed -$3.24M
CTRL
104
DELISTED
Control4 Corporation
CTRL
– –
-888,430
Closed -$21.1M
DATA
105
DELISTED
Tableau Software, Inc.
DATA
– –
-838,330
Closed -$139M
WP
106
DELISTED
Worldpay, Inc.
WP
– –
-840,006
Closed -$103M
ARRY
107
DELISTED
Array Biopharma Inc
ARRY
– –
-1,638,000
Closed -$75.9M
ANDX
108
DELISTED
Andeavor Logistics LP
ANDX
– –
-1,327,758
Closed -$48.2M
LEXEA
109
DELISTED
Liberty Expedia Holdings, Inc. Class A Common Stock
LEXEA
– –
-3,160,874
Closed -$151M
PETX
110
DELISTED
Aratana Therapeutics, Inc.
PETX
– –
-2,843,118
Closed -$14.7M
BRSS
111
DELISTED
Global Brass & Copper Hldgs, Inc
BRSS
– –
-2,056,326
Closed -$89.9M
AMBR
112
DELISTED
Amber Road Inc
AMBR
– –
-1,579,000
Closed -$20.6M
HF
113
DELISTED
HFF Inc.
HF
– –
-1,040,252
Closed -$47.3M
LABL
114
DELISTED
Multi-Color Corp
LABL
– –
-635,568
Closed -$31.8M
LLL
115
DELISTED
L3 Technologies, Inc.
LLL
– –
-1,418,092
Closed -$348M
CY
116
DELISTED
Cypress Semiconductor
CY
– –
-947,464
Closed -$21.1M
TRCO
117
DELISTED
TRIBUNE MEDIA COMPANY CLASS A
TRCO
– –
-5,765,180
Closed -$266M
TSS
118
DELISTED
Total System Services, Inc.
TSS
– –
-79,272
Closed -$10.2M
EFII
119
DELISTED
Electronics for Imaging
EFII
– –
-1,398,744
Closed -$51.6M
EE
120
DELISTED
El Paso Electric Company
EE
– –
-638,868
Closed -$41.8M
RHT
121
DELISTED
Red Hat Inc
RHT
– –
-1,821,620
Closed -$342M
RHT
122
PUT
DELISTED
Red Hat Inc
RHT
– –
-196,200
Closed -$126K
FDC
123
DELISTED
First Data Corporation
FDC
– –
-9,649,220
Closed -$261M
TCF
124
DELISTED
TCF Financial Corporation
TCF
– –
-2,239,055
Closed -$46.5M
1 2 3 4
5

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GEM
Global Endowment Management Charlotte, North Carolina $896M AUM 13.86% 1-Year Est. Return
FTM
First Turn Management Del Mar, California $895M AUM 261.28% 1-Year Est. Return
SI
Squadra Investments Rio De Janeiro, Brazil $894M AUM 33.04% 1-Year Est. Return
WP
WealthShield Partners Cary, North Carolina $898M AUM 19.35% 1-Year Est. Return
BFFIM
Baring Fintech Fund III Managers St Peter Port, Guernsey $893M AUM 20.23% 1-Year Est. Return
SFM
Signet Financial Management Parsippany, New Jersey $892M AUM 23.24% 1-Year Est. Return
DA
Denali Advisors San Diego, California $900M AUM 28.25% 1-Year Est. Return
BWP
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Water Island Capital's Q3 2019 Portfolio in Review

As of Q3 2019, Water Island Capital held 127 positions worth $1.61B, down 63% from $4.32B the previous quarter. Its ten largest holdings account for 65% of the portfolio.

Water Island Capital withdrew a net $2.74B in Q3 2019, closing 49 positions and reducing 34 holdings. Its most notable exit was L3 Technologies, Inc., an estimated $348M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 24% of assets, up from 16% a quarter earlier, followed by Healthcare and Technology.

Against the trend, Water Island Capital opened a new position in Genesee & Wyoming Inc. worth $50.3M.

  • Water Island Capital's largest Q3 2019 buy was Genesee & Wyoming Inc.: 455,324 shares worth $50.3M.
  • Water Island Capital added most to Buckeye Partners, L.P. in Q3 2019, an estimated $47.7M increase.
  • Water Island Capital's biggest Q3 2019 reduction was Celgene Corp, cutting an estimated $87.6M.
  • Water Island Capital fully exited L3 Technologies, Inc. in Q3 2019, selling an estimated $348M.
  • Water Island Capital's ten largest holdings make up 65% of its $1.61B portfolio in Q3 2019.
  • Water Island Capital opened 30 new positions and closed 49 in Q3 2019.
  • Water Island Capital's portfolio value fell 63% quarter-over-quarter to $1.61B.

Based on Water Island Capital's 13F filing for Q3 2019, filed 12 Nov 2019.