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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
TWTC
176
DELISTED
TW TELECOM INC CL A COM
TWTC
– –
-3,516,084
Closed -$146M
TWTC
177
PUT
DELISTED
TW TELECOM INC CL A COM
TWTC
– –
-49,900
Closed -$82.3K
XRSC
178
DELISTED
XRS CORP COM STK (MN)
XRSC
– –
-682,995
Closed -$3.79M
BNNY
179
DELISTED
ANNIES INC COMMON STOCK (DE)
BNNY
– –
-973,140
Closed -$44.7M
URS
180
DELISTED
URS CORP
URS
– –
-2,191,831
Closed -$126M
MDCI
181
DELISTED
MEDICAL ACTION INDS INC
MDCI
– –
-1,118,112
Closed -$15.4M
COV
182
PUT
DELISTED
COVIDIEN PLC COM SHS NEW (IRELAND)
COV
– –
-877,100
Closed -$847K
FWLT
183
DELISTED
FOSTER WHEELER AG (SWITZERLAND)
FWLT
– –
-4,821,814
Closed -$152M
DISH
184
PUT
DELISTED
DISH Network Corp.
DISH
– –
-112,300
Closed -$187K
MOVE
185
DELISTED
MOVE INC COM STK NEW (DE)
MOVE
– –
-908,765
Closed -$19M
SHPG
186
DELISTED
Shire pic
SHPG
– –
-447,671
Closed -$116M
SHPG
187
PUT
DELISTED
Shire pic
SHPG
– –
-402,800
Closed -$270K
TWC
188
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
– –
-423,383
Closed -$60.8M
TWC
189
PUT
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
– –
-294,500
Closed -$1.55M
AGN
190
CALL
DELISTED
Allergan Inc
AGN
– –
-40,000
Closed -$480K
AGN
191
PUT
DELISTED
Allergan Inc
AGN
– –
-341,100
Closed -$381K
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.