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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
+2.31%
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
$1.6B
AUM Growth
-$370M
Cap. Flow
-$284M
Cap. Flow %
-17.76%
Top 10 Hldgs %
39.13%
Holding
121
New
37
Increased
18
Reduced
23
Closed
33

Top Buys

Rank Stock Value
1
CDK
CDK Global, Inc.
CDK
+$55.3M
2
ZEN
ZENDESK INC
ZEN
+$50.7M
3
SAIL
SailPoint Technologies Holdings, Inc. Common Stock
SAIL
+$42.8M
4
ACC
American Campus Communities, Inc.
ACC
+$36.4M
5
SWCH
Switch, Inc. Class A Common Stock
SWCH
+$32.2M

Top Sells

Rank Stock Value
1
COHR
Coherent Inc
COHR
+$71.3M
2
CERN
Cerner Corp
CERN
+$66.9M
3
HMHC
Houghton Mifflin Harcourt Company
HMHC
+$60.4M
4
PLAN
Anaplan, Inc.
PLAN
+$57.9M
5
MIME
Mimecast Limited
MIME
+$54.8M

Sector Composition

Rank Sector Weight
1 Technology 33.06%
2 Industrials 17.99%
3 Communication Services 11.95%
4 Financials 8.43%
5 Healthcare 6.12%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ECOL
101
DELISTED
US Ecology, Inc.
ECOL
– –
-1,041,227
Closed -$49.9M
MGP
102
DELISTED
MGM Growth Properties LLC Class A common shares representing limited liability company interests
MGP
– –
-25,375
Closed -$982K
FOE
103
DELISTED
Ferro Corporation
FOE
– –
-44,887
Closed -$976K
HMHC
104
DELISTED
Houghton Mifflin Harcourt Company
HMHC
– –
-2,873,568
Closed -$60.4M
TLMD
105
DELISTED
SOC Telemed, Inc. Class A Common Stock
TLMD
– –
-151,803
Closed -$454K
ISBC
106
DELISTED
Investors Bancorp, Inc.
ISBC
– –
-86,521
Closed -$1.29M
FLOW
107
DELISTED
SPX FLOW, Inc.
FLOW
– –
-25,068
Closed -$2.16M
VNE
108
DELISTED
Veoneer, Inc.
VNE
– –
-54,417
Closed -$2.01M
FBC
109
DELISTED
Flagstar Bancorp, Inc. New
FBC
– –
-21,594
Closed -$916K
REGI
110
DELISTED
Renewable Energy Group, Inc.
REGI
– –
-732,903
Closed -$44.5M
VG
111
PUT
DELISTED
Vonage Holdings Corporation
VG
– –
-15,600
Closed -$12K
1 2 3 4
5

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Water Island Capital's Q2 2022 Portfolio in Review

As of Q2 2022, Water Island Capital held 121 positions worth $1.6B, down 19% from $1.97B the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Water Island Capital withdrew a net $284M in Q2 2022, closing 33 positions and reducing 23 holdings. Its most notable exit was Cerner Corp, an estimated $66.9M position sold in full.

By sector, the portfolio is most concentrated in Technology at 33% of assets, up from 31% a quarter earlier, followed by Industrials and Communication Services.

Against the trend, Water Island Capital opened a new position in CDK Global, Inc. worth $56M.

  • Water Island Capital's largest Q2 2022 buy was CDK Global, Inc.: 1,022,477 shares worth $56M.
  • Water Island Capital added most to Alleghany Corp in Q2 2022, an estimated $18.6M increase.
  • Water Island Capital's biggest Q2 2022 reduction was Coherent Inc, cutting an estimated $71.3M.
  • Water Island Capital fully exited Cerner Corp in Q2 2022, selling an estimated $66.9M.
  • Water Island Capital's ten largest holdings make up 39% of its $1.6B portfolio in Q2 2022.
  • Water Island Capital opened 37 new positions and closed 33 in Q2 2022.
  • Water Island Capital's portfolio value fell 19% quarter-over-quarter to $1.6B.

Based on Water Island Capital's 13F filing for Q2 2022, filed 15 Aug 2022.