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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
+9.2%
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
$1.47B
AUM Growth
-$107M
Cap. Flow
-$148M
Cap. Flow %
-10.11%
Top 10 Hldgs %
46.17%
Holding
193
New
53
Increased
28
Reduced
19
Closed
82

Top Buys

Rank Stock Value
1
STJ
St Jude Medical
STJ
+$56.9M
2
HAR
Harman International Industries
HAR
+$53.7M
3
TMH
Team Health Holdings Inc
TMH
+$50.4M
4
NXPI icon
NXP Semiconductors
NXPI
+$47.2M
5
SE
Spectra Energy Corp Wi
SE
+$47.2M

Top Sells

Rank Stock Value
1
ITC
ITC HOLDINGS CORP
ITC
+$172M
2
LNKD
LinkedIn Corporation
LNKD
+$111M
3
PNY
PIEDMONT NATURAL GAS CO INC(NC
PNY
+$77.5M
4
N
Netsuite Inc
N
+$76.9M
5
CVT
CVENT, INC.
CVT
+$62.8M

Sector Composition

Rank Sector Weight
1 Technology 21.71%
2 Healthcare 11.8%
3 Consumer Discretionary 10.28%
4 Materials 10.21%
5 Communication Services 7.09%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RAI
151
DELISTED
Reynolds American Inc
RAI
– –
-18,126
Closed -$855K
YDKN
152
DELISTED
Yadkin Financial Corporation
YDKN
– –
-134,529
Closed -$3.54M
ISIL
153
PUT
DELISTED
Intersil Corp
ISIL
– –
-87,000
Closed -$2K
STJ
154
PUT
DELISTED
St Jude Medical
STJ
– –
-139,000
Closed -$226K
LGF
155
PUT
DELISTED
Lions Gate Entertainment
LGF
– –
-39,300
Closed -$110K
TLN
156
DELISTED
Talen Energy Corporation
TLN
– –
-1,069,784
Closed -$14.8M
ININ
157
DELISTED
Interactive Intelligence Group, inc.
ININ
– –
-137,786
Closed -$8.29M
PPS
158
DELISTED
Post Properties
PPS
– –
-89,033
Closed -$5.89M
CVT
159
DELISTED
CVENT, INC.
CVT
– –
-1,981,111
Closed -$62.8M
CVT
160
PUT
DELISTED
CVENT, INC.
CVT
– –
-10,200
Closed -$7K
GI
161
DELISTED
EndoChoice Holdings, Inc.
GI
– –
-48,200
Closed -$385K
APIC
162
DELISTED
Apigee Corporation Common Stock
APIC
– –
-472,399
Closed -$8.22M
BLOX
163
DELISTED
Infoblox Inc
BLOX
– –
-794,756
Closed -$21M
FLTX
164
DELISTED
Fleetmatics Group PLC
FLTX
– –
-483,698
Closed -$29M
RSTI
165
DELISTED
Rofin-Sinar Technologies Inc
RSTI
– –
-1,281,651
Closed -$41.2M
CPHD
166
DELISTED
Cepheid Inc
CPHD
– –
-913,974
Closed -$48.2M
N
167
DELISTED
Netsuite Inc
N
– –
-694,510
Closed -$76.9M
N
168
PUT
DELISTED
Netsuite Inc
N
– –
-37,200
Closed -$9K
RAX
169
DELISTED
Rackspace Hosting Inc
RAX
– –
-618,300
Closed -$19.6M
SGI
170
DELISTED
Silicon Graphics Intl.
SGI
– –
-1,052,508
Closed -$8.1M
VTAE
171
DELISTED
VITAE PHARMACEUTICALS INC COMMON STOCK
VTAE
– –
-1,255,878
Closed -$26.3M
CYNA
172
DELISTED
CYNAPSUS THERAPEUTICS INC COM PAR NO PAR (CANADA)
CYNA
– –
-517,247
Closed -$20.8M
PGND
173
DELISTED
PRESS GANEY HOLDINGS INC COM STK (DE)
PGND
– –
-768,182
Closed -$31M
ITC
174
DELISTED
ITC HOLDINGS CORP
ITC
– –
-3,692,171
Closed -$172M
SKUL
175
DELISTED
SKULLCANDY INC
SKUL
– –
-1,255,520
Closed -$7.97M
4 5 6
7
8

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Water Island Capital's Q4 2016 Portfolio in Review

As of Q4 2016, Water Island Capital held 193 positions worth $1.47B, down 6.8% from $1.57B the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Water Island Capital withdrew a net $148M in Q4 2016, closing 82 positions and reducing 19 holdings. Its most notable exit was ITC HOLDINGS CORP, an estimated $172M position sold in full.

By sector, the portfolio is most concentrated in Technology at 22% of assets, up from 17% a quarter earlier, followed by Healthcare and Consumer Discretionary.

Against the trend, Water Island Capital opened a new position in Harman International Industries worth $61.8M.

  • Water Island Capital's largest Q4 2016 buy was Harman International Industries: 555,947 shares worth $61.8M.
  • Water Island Capital added most to St Jude Medical in Q4 2016, an estimated $56.9M increase.
  • Water Island Capital's biggest Q4 2016 reduction was PrivateBancorp Inc, cutting an estimated $33.3M.
  • Water Island Capital fully exited ITC HOLDINGS CORP in Q4 2016, selling an estimated $172M.
  • Water Island Capital's ten largest holdings make up 46% of its $1.47B portfolio in Q4 2016.
  • Water Island Capital opened 53 new positions and closed 82 in Q4 2016.
  • Water Island Capital's portfolio value fell 6.8% quarter-over-quarter to $1.47B.

Based on Water Island Capital's 13F filing for Q4 2016, filed 14 Feb 2017.