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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
+3.48%
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
$1.34B
AUM Growth
-$505M
Cap. Flow
-$320M
Cap. Flow %
-23.87%
Top 10 Hldgs %
52.33%
Holding
158
New
53
Increased
25
Reduced
11
Closed
62

Top Buys

Rank Stock Value
1
TRCO
TRIBUNE MEDIA COMPANY CLASS A
TRCO
+$73.4M
2
IMPV
Imperva, Inc.
IMPV
+$68.4M
3
FCB
FCB Financial Holdings, Inc.
FCB
+$50.3M
4
VLP
Valero Energy Partners LP
VLP
+$47.6M
5
VVC
Vectren Corporation
VVC
+$45.6M

Top Sells

Rank Stock Value
1
PF
Pinnacle Foods, Inc.
PF
+$138M
2
FCE.A
Forest City Realty Trust, Inc.
FCE.A
+$94.5M
3
COL
Rockwell Collins
COL
+$87M
4
KLXI
KLX Inc.
KLXI
+$81.4M
5
GPT
Gramercy Property Trust
GPT
+$79.3M

Sector Composition

Rank Sector Weight
1 Communication Services 21.01%
2 Technology 16.68%
3 Financials 16.09%
4 Utilities 9.96%
5 Energy 5.55%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AFSI
126
DELISTED
AmTrust Financial Services, Inc.
AFSI
– –
-803,100
Closed -$11.7M
EGN
127
DELISTED
Energen
EGN
– –
-245,251
Closed -$21.1M
AET
128
DELISTED
Aetna Inc
AET
– –
-241,860
Closed -$49.1M
COL
129
DELISTED
Rockwell Collins
COL
– –
-619,205
Closed -$87M
COL
130
PUT
DELISTED
Rockwell Collins
COL
– –
-155,400
Closed -$78K
ZOES
131
DELISTED
Zoe's Kitchen, Inc.
ZOES
– –
-517,139
Closed -$6.58M
KMG
132
DELISTED
KMG Chemicals Inc
KMG
– –
-233,989
Closed -$17.7M
KTWO
133
DELISTED
K2M Group Holdings, Inc
KTWO
– –
-1,068,624
Closed -$29.2M
KS
134
DELISTED
KapStone Paper and Pack Corp.
KS
– –
-1,541,354
Closed -$52.3M
PF
135
DELISTED
Pinnacle Foods, Inc.
PF
– –
-2,129,034
Closed -$138M
IVTY
136
DELISTED
Invuity, Inc
IVTY
– –
-636,000
Closed -$4.71M
SVU
137
DELISTED
SUPERVALU Inc.
SVU
– –
-567,291
Closed -$18.3M
PERY
138
DELISTED
Perry Ellis International Inc
PERY
– –
-876,488
Closed -$24M
XRM
139
DELISTED
Xerium Technologies Inc (new)
XRM
– –
-819,460
Closed -$11M
REIS
140
DELISTED
Reis, Inc.
REIS
– –
-326,800
Closed -$7.52M
PNK
141
DELISTED
Pinnacle Entertainment Inc.
PNK
– –
-1,592,811
Closed -$53.7M
WEB
142
DELISTED
Web.com Group, Inc.
WEB
– –
-1,420,527
Closed -$39.6M
GPT
143
DELISTED
Gramercy Property Trust
GPT
– –
-2,891,339
Closed -$79.3M
KLXI
144
DELISTED
KLX Inc.
KLXI
– –
-1,296,363
Closed -$81.4M
SYNT
145
DELISTED
Syntel Inc
SYNT
– –
-575,409
Closed -$23.6M
CVG
146
DELISTED
Convergys
CVG
– –
-100,000
Closed -$2.37M
FBNK
147
DELISTED
First Connecticut Bancorp, Inc
FBNK
– –
-163,811
Closed -$4.84M
ANDV
148
DELISTED
Andeavor
ANDV
– –
-74,532
Closed -$11.4M
NLSN
149
DELISTED
Nielsen Holdings plc
NLSN
– –
-81,939
Closed -$2.27M
NSU
150
DELISTED
Nevsun Resources Ltd.
NSU
– –
-2,123,500
Closed -$9.43M
3 4 5
6
7

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Water Island Capital's Q4 2018 Portfolio in Review

As of Q4 2018, Water Island Capital held 158 positions worth $1.34B, down 27% from $1.85B the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Water Island Capital withdrew a net $320M in Q4 2018, closing 62 positions and reducing 11 holdings. Its most notable exit was Pinnacle Foods, Inc., an estimated $138M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 21% of assets, up from 9% a quarter earlier, followed by Technology and Financials.

Against the trend, Water Island Capital opened a new position in Imperva, Inc. worth $70.2M.

  • Water Island Capital's largest Q4 2018 buy was Imperva, Inc.: 1,259,927 shares worth $70.2M.
  • Water Island Capital added most to TRIBUNE MEDIA COMPANY CLASS A in Q4 2018, an estimated $73.4M increase.
  • Water Island Capital's biggest Q4 2018 reduction was NxStage Medical Inc., cutting an estimated $25.9M.
  • Water Island Capital fully exited Pinnacle Foods, Inc. in Q4 2018, selling an estimated $138M.
  • Water Island Capital's ten largest holdings make up 52% of its $1.34B portfolio in Q4 2018.
  • Water Island Capital opened 53 new positions and closed 62 in Q4 2018.
  • Water Island Capital's portfolio value fell 27% quarter-over-quarter to $1.34B.

Based on Water Island Capital's 13F filing for Q4 2018, filed 5 Feb 2019.