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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
+25.77%
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
$2.68B
AUM Growth
-$324M
Cap. Flow
-$121M
Cap. Flow %
-4.53%
Top 10 Hldgs %
57.35%
Holding
181
New
81
Increased
30
Reduced
14
Closed
54

Top Buys

Rank Stock Value
1
SLXP
SALIX PHARMACEUTICALS LTD DEL
SLXP
+$180M
2
HSP
HOSPIRA INC
HSP
+$151M
3
RVBD
RIVERBED TECHNOLOGY, INC COM
RVBD
+$122M
4
TRW
TRW AUTOMOTIVE HOLDINGS CORP
TRW
+$122M
5
PCYC
PHARMACYCLICS INC
PCYC
+$104M

Top Sells

Rank Stock Value
1
COV
COVIDIEN PLC COM SHS NEW (IRELAND)
COV
+$221M
2
TQNT
TRIQUINT SEMICONDUCTOR INC
TQNT
+$217M
3
AGN
Allergan Inc
AGN
+$215M
4
PL
PROTECTIVE LIFE CORP
PL
+$178M
5
SWY
SAFEWAY INC
SWY
+$177M

Sector Composition

Rank Sector Weight
1 Technology 14.21%
2 Consumer Discretionary 12.41%
3 Healthcare 6.97%
4 Consumer Staples 6.89%
5 Materials 6.26%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BHC icon
126
Bausch Health
BHC
$2.34B
– –
-15,000
Closed -$215K
CAH icon
127
Cardinal Health
CAH
$55.4B
– –
-5,028
Closed -$406K
CNMD icon
128
CONMED
CNMD
$1.47B
– –
-9,616
Closed -$432K
CVEO icon
129
Civeo
CVEO
$318M
– –
-24,447
Closed -$1.21M
CVEO icon
130
PUT
Civeo
CVEO
$318M
– –
-24,958
Closed -$1.42M
DNOW icon
131
DNOW Inc
DNOW
$2.99B
– –
-243,998
Closed -$6.28M
DNOW icon
132
PUT
DNOW Inc
DNOW
$2.99B
– –
-97,600
Closed -$144K
EPC icon
133
Edgewell Personal Care
EPC
$1.31B
– –
-50,463
Closed -$4.81M
HAE icon
134
Haemonetics
HAE
$4B
– –
-10,885
Closed -$407K
HE icon
135
Hawaiian Electric Industries
HE
$2.14B
– –
-132,268
Closed -$4.43M
MTW icon
136
Manitowoc
MTW
$675M
– –
-17,443
Closed -$349K
STE icon
137
Steris
STE
$23.1B
– –
-6,394
Closed -$415K
T icon
138
PUT
AT&T
T
$163B
– –
-1,946,545
Closed -$1.83M
TFX icon
139
Teleflex
TFX
$5.98B
– –
-3,563
Closed -$409K
TMUS icon
140
PUT
T-Mobile US
TMUS
$190B
– –
-195,200
Closed -$81K
TSN icon
141
PUT
Tyson Foods
TSN
$20.4B
– –
-122,000
Closed -$15.3K
YUM icon
142
PUT
Yum! Brands
YUM
$41.1B
– –
-271,384
Closed -$36.6K
ENDP
143
DELISTED
Endo International plc
ENDP
– –
-68,176
Closed -$4.92M
AGN
144
CALL
DELISTED
Allergan plc
AGN
– –
-12,400
Closed -$50.8K
KND
145
PUT
DELISTED
Kindred Healthcare
KND
– –
-146,300
Closed -$73.2K
LVLT
146
DELISTED
Level 3 Communications Inc
LVLT
– –
-35,698
Closed -$1.76M
BHI
147
DELISTED
Baker Hughes
BHI
– –
-117,212
Closed -$6.57M
BHI
148
PUT
DELISTED
Baker Hughes
BHI
– –
-146,500
Closed -$42.5K
BEAV
149
PUT
DELISTED
B/E Aerospace Inc
BEAV
– –
-76,100
Closed -$66.6K
CRC
150
CALL
DELISTED
California Resources Corporation
CRC
– –
-19,530
Closed -$9.77K
4 5
6
7 8

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Water Island Capital's Q1 2015 Portfolio in Review

As of Q1 2015, Water Island Capital held 181 positions worth $2.68B, down 11% from $3B the previous quarter. Its ten largest holdings account for 57% of the portfolio.

Water Island Capital withdrew a net $121M in Q1 2015, closing 54 positions and reducing 14 holdings. Its most notable exit was COVIDIEN PLC COM SHS NEW (IRELAND), an estimated $221M position sold in full.

By sector, the portfolio is most concentrated in Technology at 14% of assets, up from 11% a quarter earlier, followed by Consumer Discretionary and Healthcare.

Against the trend, Water Island Capital opened a new position in SALIX PHARMACEUTICALS LTD DEL worth $212M.

  • Water Island Capital's largest Q1 2015 buy was SALIX PHARMACEUTICALS LTD DEL: 1,225,712 shares worth $212M.
  • Water Island Capital added most to TRW AUTOMOTIVE HOLDINGS CORP in Q1 2015, an estimated $122M increase.
  • Water Island Capital's biggest Q1 2015 reduction was DRESSER-RAND GROUP INC, cutting an estimated $66.2M.
  • Water Island Capital fully exited COVIDIEN PLC COM SHS NEW (IRELAND) in Q1 2015, selling an estimated $221M.
  • Water Island Capital's ten largest holdings make up 57% of its $2.68B portfolio in Q1 2015.
  • Water Island Capital opened 81 new positions and closed 54 in Q1 2015.
  • Water Island Capital's portfolio value fell 11% quarter-over-quarter to $2.68B.

Based on Water Island Capital's 13F filing for Q1 2015, filed 13 May 2015.