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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
+19.09%
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
$3B
AUM Growth
+$63.3M
Cap. Flow
-$219M
Cap. Flow %
-7.31%
Top 10 Hldgs %
59.09%
Holding
198
New
47
Increased
26
Reduced
22
Closed
95

Top Buys

Rank Stock Value
1
AGN
Allergan Inc
AGN
+$165M
2
CVD
COVANCE INC.
CVD
+$115M
3
CFN
CAREFUSION CORPORATION
CFN
+$98.8M
4
COV
COVIDIEN PLC COM SHS NEW (IRELAND)
COV
+$94.3M
5
CBST
CUBIST PHARMACEUTICALS INC
CBST
+$91.1M

Top Sells

Rank Stock Value
1
FWLT
FOSTER WHEELER AG (SWITZERLAND)
FWLT
+$152M
2
TWTC
TW TELECOM INC CL A COM
TWTC
+$146M
3
URS
URS CORP
URS
+$126M
4
SHPG
Shire pic
SHPG
+$116M
5
CNQR
CONCUR TECHNOLOGIES INC
CNQR
+$79.7M

Sector Composition

Rank Sector Weight
1 Healthcare 22.66%
2 Consumer Staples 11.19%
3 Technology 10.73%
4 Financials 6.82%
5 Consumer Discretionary 3.98%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EXPR
126
PUT
DELISTED
Express, Inc.
EXPR
– –
-12,340
Closed -$51K
AGN
127
PUT
DELISTED
Allergan plc
AGN
– –
-34,200
Closed -$178K
VIAB
128
PUT
DELISTED
Viacom Inc. Class B
VIAB
– –
-97,700
Closed -$161K
SFLY
129
DELISTED
Shutterfly, Inc.
SFLY
– –
-98,834
Closed -$4.82M
SFLY
130
PUT
DELISTED
Shutterfly, Inc.
SFLY
– –
-97,600
Closed -$68.3K
TWX
131
DELISTED
Time Warner Inc
TWX
– –
-24,300
Closed -$1.83M
TSNU
132
DELISTED
Tyson Foods, Inc.
TSNU
– –
-98,379
Closed -$4.95M
OUTR
133
DELISTED
OUTERWALL INC
OUTR
– –
-195,431
Closed -$11M
OUTR
134
PUT
DELISTED
OUTERWALL INC
OUTR
– –
-195,400
Closed -$581K
SIAL
135
PUT
DELISTED
SIGMA - ALDRICH CORP
SIAL
– –
-2,100
Closed -$473
HCBK
136
DELISTED
HUDSON CITY BANCORP INC
HCBK
– –
-1,660,436
Closed -$16.1M
ANR
137
DELISTED
Alpha Natural Resources Inc
ANR
– –
-25,100
Closed -$62.2K
FDO
138
PUT
DELISTED
FAMILY DOLLAR STORES
FDO
– –
-119,800
Closed -$3K
TEG
139
DELISTED
INTEGRYS ENERGY GROUP INC COM (USA)
TEG
– –
-909,491
Closed -$59M
TLM
140
DELISTED
TALISMAN ENERGY INC
TLM
– –
-353,313
Closed -$3.06M
PETM
141
DELISTED
PETSMART INC
PETM
– –
-63,199
Closed -$4.43M
PETM
142
PUT
DELISTED
PETSMART INC
PETM
– –
-63,500
Closed -$33.3K
GTIV
143
PUT
DELISTED
GENTIVA HEALTH SERVICES INC
GTIV
– –
-195,500
Closed -$83.1K
PL
144
PUT
DELISTED
PROTECTIVE LIFE CORP
PL
– –
-19,700
Closed -$2.46K
GRT
145
PUT
DELISTED
GLIMCHER REALTY TRUST
GRT
– –
-82,300
Closed -$3.14K
IRF
146
PUT
DELISTED
INTL RECTIFIER CORP
IRF
– –
-195,800
Closed -$12.7K
CQB
147
DELISTED
CHIQUITA BRANDS INTL (NEW)
CQB
– –
-118,800
Closed -$1.69M
SWS
148
DELISTED
SWS GROUP INC
SWS
– –
-333,611
Closed -$2.3M
PIKE
149
DELISTED
PIKE CORPORATION COM STK (NC)
PIKE
– –
-160,000
Closed -$1.9M
PIKE
150
PUT
DELISTED
PIKE CORPORATION COM STK (NC)
PIKE
– –
-75,800
Closed -$1.9K
4 5
6
7 8

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Water Island Capital's Q4 2014 Portfolio in Review

As of Q4 2014, Water Island Capital held 198 positions worth $3B, up 2.2% from $2.94B the previous quarter. Its ten largest holdings account for 59% of the portfolio.

Water Island Capital withdrew a net $219M in Q4 2014, closing 95 positions and reducing 22 holdings. Its most notable exit was FOSTER WHEELER AG (SWITZERLAND), an estimated $152M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 23% of assets, up from 9.7% a quarter earlier, followed by Consumer Staples and Technology.

Against the trend, Water Island Capital opened a new position in COVANCE INC. worth $127M.

  • Water Island Capital's largest Q4 2014 buy was COVANCE INC.: 1,225,758 shares worth $127M.
  • Water Island Capital added most to Allergan Inc in Q4 2014, an estimated $165M increase.
  • Water Island Capital's biggest Q4 2014 reduction was PEPCO HOLDINGS, INC., cutting an estimated $76.5M.
  • Water Island Capital fully exited FOSTER WHEELER AG (SWITZERLAND) in Q4 2014, selling an estimated $152M.
  • Water Island Capital's ten largest holdings make up 59% of its $3B portfolio in Q4 2014.
  • Water Island Capital opened 47 new positions and closed 95 in Q4 2014.
  • Water Island Capital's portfolio value rose 2.2% quarter-over-quarter to $3B.

Based on Water Island Capital's 13F filing for Q4 2014, filed 10 Feb 2015.