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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
+5.89%
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
$1.61B
AUM Growth
-$2.71B
Cap. Flow
-$2.74B
Cap. Flow %
-170.2%
Top 10 Hldgs %
64.88%
Holding
127
New
30
Increased
11
Reduced
34
Closed
49

Top Buys

Rank Stock Value
1
GWR
Genesee & Wyoming Inc.
GWR
+$50.1M
2
BPL
Buckeye Partners, L.P.
BPL
+$47.7M
3
ZAYO
Zayo Group Holdings, Inc.
ZAYO
+$44.9M
4
MCRN
Milacron Holdings Corp.
MCRN
+$43.2M
5
NCI
Navigant Consulting, Inc.
NCI
+$39.1M

Top Sells

Rank Stock Value
1
LLL
L3 Technologies, Inc.
LLL
+$348M
2
RHT
Red Hat Inc
RHT
+$342M
3
APC
Anadarko Petroleum
APC
+$296M
4
TRCO
TRIBUNE MEDIA COMPANY CLASS A
TRCO
+$266M
5
FDC
First Data Corporation
FDC
+$261M

Sector Composition

Rank Sector Weight
1 Industrials 23.93%
2 Healthcare 17.86%
3 Technology 10.93%
4 Financials 9.82%
5 Consumer Discretionary 8.51%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CELG
1
DELISTED
Celgene Corp
CELG
$156M 9.68%
1,568,238
-922,422
-37% -$87.6M
WCG
2
DELISTED
Wellcare Health Plans, Inc.
WCG
$154M 9.6%
595,699
+42,303
+8% +$11.7M
STI
3
DELISTED
SunTrust Banks, Inc.
STI
$126M 7.82%
1,828,193
-223,439
-11% -$14.3M
BPL
4
DELISTED
Buckeye Partners, L.P.
BPL
$108M 6.73%
2,634,740
+1,155,760
+78% +$47.7M
ZAYO
5
DELISTED
Zayo Group Holdings, Inc.
ZAYO
$98.4M 6.12%
2,903,223
+1,333,479
+85% +$44.9M
MLNX
6
DELISTED
Mellanox Technologies, Ltd.
MLNX
$88.7M 5.51%
808,933
-506,883
-39% -$55.9M
ADSW
7
DELISTED
Advanced Disposal Services Inc
ADSW
$87.8M 5.46%
2,697,032
-1,109,736
-29% -$36M
MDSO
8
DELISTED
Medidata Solutions, Inc.
MDSO
$82.4M 5.12%
900,726
+389,718
+76% +$35.6M
AGN
9
DELISTED
Allergan plc
AGN
$82.3M 5.12%
489,298
+230,288
+89% +$37.5M
WBC
10
DELISTED
WABCO HOLDINGS INC.
WBC
$59.6M 3.71%
445,689
-127,417
-22% -$16.9M
ISCA
11
DELISTED
International Speedway Corp
ISCA
$51.4M 3.19%
1,140,991
+257,281
+29% +$11.6M
GWR
12
DELISTED
Genesee & Wyoming Inc.
GWR
$50.3M 3.13%
+455,324
New +$50.1M
MCRN
13
DELISTED
Milacron Holdings Corp.
MCRN
$44.8M 2.79%
+2,688,005
New +$43.2M
NCI
14
DELISTED
Navigant Consulting, Inc.
NCI
$41.4M 2.57%
+1,481,220
New +$39.1M
BID
15
DELISTED
Sotheby's
BID
$37.6M 2.34%
659,419
+11,985
+2% +$694K
TYPE
16
DELISTED
Monotype Imaging Holdings Inc.
TYPE
$32.6M 2.03%
+1,644,786
New +$31.3M
CBLK
17
DELISTED
Carbon Black, Inc. Common Stock
CBLK
$28.7M 1.79%
+1,106,000
New +$24.4M
PACB icon
18
Pacific Biosciences
PACB
$422M
$23.7M 1.47%
4,590,150
-3,166,522
-41% -$17.7M
SEMG
19
DELISTED
SEMGROUP CORPORATION
SEMG
$23.6M 1.47%
+1,443,846
New +$16.9M
LTXB
20
DELISTED
LegacyTexas Financial Group Inc
LTXB
$22M 1.37%
504,904
+103,660
+26% +$4.31M
VIAB
21
DELISTED
Viacom Inc. Class B
VIAB
$21.2M 1.32%
+883,967
New +$24.7M
UBNK
22
DELISTED
United Financial Bancorp, Inc.
UBNK
$20.6M 1.28%
+1,509,249
New +$20.4M
CZR
23
DELISTED
Caesars Entertainment Corporation
CZR
$19M 1.18%
1,625,825
-638,175
-28% -$7.48M
WAIR
24
DELISTED
WESCO Aircraft Holdings Inc.
WAIR
$17.6M 1.1%
+1,599,673
New +$17.4M
GCI
25
DELISTED
Gannett Co., Inc
GCI
$13.7M 0.85%
+1,277,942
New +$12.7M
1
2 3 4 5

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Water Island Capital's Q3 2019 Portfolio in Review

As of Q3 2019, Water Island Capital held 127 positions worth $1.61B, down 63% from $4.32B the previous quarter. Its ten largest holdings account for 65% of the portfolio.

Water Island Capital withdrew a net $2.74B in Q3 2019, closing 49 positions and reducing 34 holdings. Its most notable exit was L3 Technologies, Inc., an estimated $348M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 24% of assets, up from 16% a quarter earlier, followed by Healthcare and Technology.

Against the trend, Water Island Capital opened a new position in Genesee & Wyoming Inc. worth $50.3M.

  • Water Island Capital's largest Q3 2019 buy was Genesee & Wyoming Inc.: 455,324 shares worth $50.3M.
  • Water Island Capital added most to Buckeye Partners, L.P. in Q3 2019, an estimated $47.7M increase.
  • Water Island Capital's biggest Q3 2019 reduction was Celgene Corp, cutting an estimated $87.6M.
  • Water Island Capital fully exited L3 Technologies, Inc. in Q3 2019, selling an estimated $348M.
  • Water Island Capital's ten largest holdings make up 65% of its $1.61B portfolio in Q3 2019.
  • Water Island Capital opened 30 new positions and closed 49 in Q3 2019.
  • Water Island Capital's portfolio value fell 63% quarter-over-quarter to $1.61B.

Based on Water Island Capital's 13F filing for Q3 2019, filed 12 Nov 2019.