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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
+1,508.69%
10 Year Est. Return
+23,520.55%
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
TRW
1
DELISTED
TRW AUTOMOTIVE HOLDINGS CORP
TRW
$221M 8.26%
2,109,191
+1,175,187
+126% +$122M
SLXP
2
DELISTED
SALIX PHARMACEUTICALS LTD DEL
SLXP
$212M 7.92%
+1,225,712
New +$180M
DTV
3
DELISTED
DIRECTV COM STK (DE)
DTV
$187M 6.98%
2,193,966
-146,130
-6% -$12.6M
FDO
4
DELISTED
FAMILY DOLLAR STORES
FDO
$174M 6.5%
2,194,256
+365,417
+20% +$28.5M
HSP
5
DELISTED
HOSPIRA INC
HSP
$169M 6.31%
+1,923,649
New +$151M
PCYC
6
DELISTED
PHARMACYCLICS INC
PCYC
$138M 5.16%
+539,524
New +$104M
RVBD
7
DELISTED
RIVERBED TECHNOLOGY, INC COM
RVBD
$123M 4.6%
+5,880,319
New +$122M
ARUN
8
DELISTED
ARUBA NETWORKS, INC.
ARUN
$120M 4.48%
+4,892,493
New +$98.5M
MWV
9
DELISTED
MEADWESTVACO CORP
MWV
$103M 3.84%
+2,061,658
New +$103M
ADVS
10
DELISTED
Advent Software Inc
ADVS
$88.4M 3.3%
+2,003,039
New +$82.4M
TLM
11
DELISTED
TALISMAN ENERGY INC
TLM
$75M 2.8%
+9,767,911
New +$74.7M
SIAL
12
DELISTED
SIGMA - ALDRICH CORP
SIAL
$72.7M 2.72%
525,510
+194,698
+59% +$26.8M
XLS
13
DELISTED
EXELIS INC COM STK
XLS
$68.1M 2.54%
+2,793,411
New +$59.7M
KFX
14
DELISTED
KOFAX LIMITED COM STK
KFX
$65.6M 2.45%
+5,991,014
New +$43.9M
CTRX
15
DELISTED
CATAMARAN CORP COM STK (CDA)
CTRX
$57.2M 2.14%
+960,463
New +$48.8M
RTI
16
DELISTED
RTI INTL METALS INC(HLDG CO)
RTI
$54.8M 2.05%
+1,526,084
New +$42.8M
ASPX
17
DELISTED
AUSPEX PHARMACEUTICALS INC COM STK (DE)
ASPX
$51M 1.9%
+508,191
New +$33.9M
LTM
18
DELISTED
LIFE TIME FITNESS INC
LTM
$47.8M 1.79%
+673,704
New +$40.5M
HPTX
19
DELISTED
HYPERION THERAPEUTICS INC COM STK (DE)
HPTX
$44.8M 1.67%
+975,579
New +$29.2M
PPO
20
DELISTED
POLYPORE INTERNATIONAL, INC
PPO
$43.9M 1.64%
+745,651
New +$38.6M
CYN
21
DELISTED
CITY NATIONAL CORPORATION
CYN
$37.7M 1.41%
+423,578
New +$36.6M
ELX
22
DELISTED
EMULEX CORP
ELX
$35.7M 1.33%
+4,478,576
New +$31.4M
FSL
23
DELISTED
FREESCALE SEMICONDUCTOR LTD
FSL
$26.1M 0.97%
+639,315
New +$22M
OWW
24
DELISTED
ORBITZ WORLDWIDE, INC
OWW
$18.7M 0.7%
+1,601,918
New +$16.9M
CNX icon
25
CNX Resources
CNX
$4.85B
$18M 0.67%
773,363
+557,797
+259% +$14.2M
1
2 3 4 5

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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.