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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
HUB.A
151
PUT
DELISTED
HUBBELL INC CL-A
HUB.A
– –
-47,200
Closed -$8.26K
WLT
152
DELISTED
WALTER ENERGY INC COM STK (DE)
WLT
– –
-42,800
Closed -$59.1K
TRW
153
CALL
DELISTED
TRW AUTOMOTIVE HOLDINGS CORP
TRW
– –
-99,800
Closed -$469K
CFN
154
DELISTED
CAREFUSION CORPORATION
CFN
– –
-1,752,157
Closed -$104M
PTRY
155
DELISTED
PANTRY INC (THE)
PTRY
– –
-825,589
Closed -$30.6M
PENX
156
DELISTED
PENFORD CORP
PENX
– –
-400,893
Closed -$7.49M
PTP
157
DELISTED
PLATINUM UNDERWRITERS HLDGS LTD
PTP
– –
-193,891
Closed -$14.2M
CVD
158
DELISTED
COVANCE INC.
CVD
– –
-1,225,758
Closed -$127M
AMRE
159
DELISTED
AMREIT INC NEW COM STK
AMRE
– –
-1,100,064
Closed -$29.2M
VOLC
160
DELISTED
VOLCANO CORPORATION COM STK
VOLC
– –
-3,116,216
Closed -$55.7M
RNA
161
DELISTED
PROSENSA HLDGS N V ORD SHS (NLD)
RNA
– –
-534,909
Closed -$10M
SAPE
162
DELISTED
SAPIENT CORP
SAPE
– –
-3,880,482
Closed -$96.5M
GTIV
163
DELISTED
GENTIVA HEALTH SERVICES INC
GTIV
– –
-1,305,220
Closed -$24.9M
PL
164
DELISTED
PROTECTIVE LIFE CORP
PL
– –
-2,562,628
Closed -$178M
SWY
165
DELISTED
SAFEWAY INC
SWY
– –
-5,040,357
Closed -$177M
CBST
166
DELISTED
CUBIST PHARMACEUTICALS INC
CBST
– –
-1,171,716
Closed -$118M
BIRT
167
DELISTED
Actuate Corp
BIRT
– –
-1,711,251
Closed -$11.3M
HCT
168
DELISTED
AMRICAN RLTY CAP HEALTHCARE TRUST INC. COMMON STOCK
HCT
– –
-14,277,913
Closed -$170M
GRT
169
DELISTED
GLIMCHER REALTY TRUST
GRT
– –
-4,303,386
Closed -$59.1M
AVNR
170
DELISTED
AVANIR PHARMACEUTICALS, INC CL A
AVNR
– –
-5,306,423
Closed -$89.9M
IRF
171
DELISTED
INTL RECTIFIER CORP
IRF
– –
-2,352,168
Closed -$93.9M
ROC
172
DELISTED
ROCKWOOD HLDGS INC
ROC
– –
-1,066,738
Closed -$84.1M
TQNT
173
DELISTED
TRIQUINT SEMICONDUCTOR INC
TQNT
– –
-7,817,258
Closed -$217M
EXXI
174
DELISTED
ENERGY XXI LTD COM SHS
EXXI
– –
-9,100
Closed -$29.7K
COV
175
DELISTED
COVIDIEN PLC COM SHS NEW (IRELAND)
COV
– –
-2,165,420
Closed -$221M
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.