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WIC

Water Island Capital Portfolio holdings

AUM $1.08B
1-Year Est. Return 105.75%
This Fund
S&P 500
This Quarter Est. Return
+13.23%
1 Year Est. Return
+105.75%
3 Year Est. Return
+437.83%
5 Year Est. Return
+1,485.53%
10 Year Est. Return
+23,012.79%
AUM
$2.94B
AUM Growth
+$129M
Cap. Flow
-$134M
Cap. Flow %
-4.54%
Top 10 Hldgs %
58.31%
Holding
143
New
59
Increased
20
Reduced
11
Closed
44

Top Buys

Rank Stock Value
1
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
+$144M
2
FRX
FOREST LABORATORIES INC
FRX
+$143M
3
PL
PROTECTIVE LIFE CORP
PL
+$124M
4
HCT
AMRICAN RLTY CAP HEALTHCARE TRUST INC. COMMON STOCK
HCT
+$111M
5
TQNT
TRIQUINT SEMICONDUCTOR INC
TQNT
+$108M

Top Sells

Rank Stock Value
1
BEAM
BEAM INC COM STK (DE)
BEAM
+$298M
2
BRE
BRE PROPERTIES INC CL A
BRE
+$194M
3
JOSB
JOS A BANK CLOTHIERS INC
JOSB
+$160M
4
LSI
LSI CORPORATION
LSI
+$153M
5
CSE
CAPITALSOURCE INC
CSE
+$150M

Sector Composition

Rank Sector Weight
1 Miscellaneous 32.95%
2 Healthcare 20.62%
3 Utilities 11.58%
4 Financials 10.95%
5 Communication Services 6.67%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FRX
1
DELISTED
FOREST LABORATORIES INC
FRX
$346M 11.76%
3,495,438
+1,533,132
+78% +$143M
UNS
2
DELISTED
UNS ENERGY CORP COM
UNS
$191M 6.5%
3,168,083
+733,570
+30% +$44.2M
SWY
3
DELISTED
SAFEWAY INC
SWY
$177M 6.03%
5,166,594
+1,769,338
+52% +$60.4M
FWLT
4
DELISTED
FOSTER WHEELER AG (SWITZERLAND)
FWLT
$166M 5.63%
4,861,134
+593,500
+14% +$20.1M
ESC
5
DELISTED
EMERITUS CORP
ESC
$153M 5.21%
4,846,297
+2,534,085
+110% +$77.6M
TWC
6
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
$151M 5.12%
+1,023,476
New +$144M
PL
7
DELISTED
PROTECTIVE LIFE CORP
PL
$151M 5.11%
+2,170,870
New +$124M
TQNT
8
DELISTED
TRIQUINT SEMICONDUCTOR INC
TQNT
$137M 4.65%
8,661,665
+7,275,534
+525% +$108M
TWTC
9
DELISTED
TW TELECOM INC CL A COM
TWTC
$128M 4.35%
+3,175,418
New +$105M
HCT
10
DELISTED
AMRICAN RLTY CAP HEALTHCARE TRUST INC. COMMON STOCK
HCT
$116M 3.95%
+10,685,161
New +$111M
POM
11
DELISTED
PEPCO HOLDINGS, INC.
POM
$111M 3.78%
+4,052,336
New +$103M
DTV
12
DELISTED
DIRECTV COM STK (DE)
DTV
$101M 3.42%
+1,185,259
New +$96.6M
HITT
13
DELISTED
HITTITE MICROWAVE CORP
HITT
$89.6M 3.04%
+1,149,224
New +$74M
COV
14
DELISTED
COVIDIEN PLC COM SHS NEW (IRELAND)
COV
$81.6M 2.77%
+904,481
New +$67.7M
AGN
15
DELISTED
Allergan Inc
AGN
$72.2M 2.45%
+426,409
New +$66.4M
MCRS
16
DELISTED
MICROS SYSTEMS INC
MCRS
$50.6M 1.72%
+745,588
New +$40.8M
QCOR
17
DELISTED
QUESTCOR PHARMA INC
QCOR
$50.4M 1.71%
+544,444
New +$46.6M
NDZ
18
DELISTED
NORDION INC COM STK (CDA)
NDZ
$49.6M 1.68%
3,945,764
+1,691,613
+75% +$20.5M
HCBK
19
DELISTED
HUDSON CITY BANCORP INC
HCBK
$46.4M 1.58%
4,723,351
-4,113,756
-47% -$40.5M
TEG
20
DELISTED
INTEGRYS ENERGY GROUP INC COM (USA)
TEG
$38.1M 1.29%
+535,032
New +$32.2M
TXI
21
DELISTED
TEXAS INDUSTRIES INC
TXI
$29.2M 0.99%
+316,156
New +$27.7M
OPEN
22
DELISTED
OPENTABLE,INC COMMON STOCK
OPEN
$26.8M 0.91%
+259,100
New +$19.8M
CBEY
23
DELISTED
CBEYOND INC COM STK
CBEY
$24.6M 0.84%
+2,472,680
New +$23.1M
ARX
24
DELISTED
Aeroflex Holding Corp (DE)
ARX
$23.4M 0.79%
+2,226,186
New +$20.6M
AGN
25
DELISTED
Allergan plc
AGN
$21.1M 0.72%
94,424
+33,422
+55% +$6.92M
1
2 3 4 5

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Water Island Capital's Q2 2014 Portfolio in Review

As of Q2 2014, Water Island Capital held 143 positions worth $2.94B, up 4.6% from $2.82B the previous quarter. Its ten largest holdings account for 58% of the portfolio.

Water Island Capital withdrew a net $134M in Q2 2014, closing 44 positions and reducing 11 holdings. Its most notable exit was BEAM INC COM STK (DE), an estimated $298M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 33% of assets, down from 34% a quarter earlier, followed by Healthcare and Utilities.

Against the trend, Water Island Capital opened a new position in TIME WARNER CABLE INC NEW COM STK worth $151M.

  • Water Island Capital's largest Q2 2014 buy was TIME WARNER CABLE INC NEW COM STK: 1,023,476 shares worth $151M.
  • Water Island Capital added most to FOREST LABORATORIES INC in Q2 2014, an estimated $143M increase.
  • Water Island Capital's biggest Q2 2014 reduction was SiriusXM, cutting an estimated $50.3M.
  • Water Island Capital fully exited BEAM INC COM STK (DE) in Q2 2014, selling an estimated $298M.
  • Water Island Capital's ten largest holdings make up 58% of its $2.94B portfolio in Q2 2014.
  • Water Island Capital opened 59 new positions and closed 44 in Q2 2014.
  • Water Island Capital's portfolio value rose 4.6% quarter-over-quarter to $2.94B.

Based on Water Island Capital's 13F filing for Q2 2014, filed 13 Aug 2014.