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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
+18.33%
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
$1.09B
AUM Growth
-$295M
Cap. Flow
-$321M
Cap. Flow %
-29.51%
Top 10 Hldgs %
81.78%
Holding
105
New
49
Increased
15
Reduced
11
Closed
24

Top Buys

Rank Stock Value
1
ETFC
E*Trade Financial Corporation
ETFC
+$101M
2
ADSW
Advanced Disposal Services Inc
ADSW
+$55M
3
WTW icon
Willis Towers Watson
WTW
+$50.4M
4
PTLA
Portola Pharmaceuticals, Inc.
PTLA
+$32.7M
5
LM
Legg Mason, Inc.
LM
+$30M

Top Sells

Rank Stock Value
1
AGN
Allergan plc
AGN
+$151M
2
TECD
Tech Data Corp
TECD
+$121M
3
AXE
Anixter International Inc
AXE
+$97.1M
4
WBC
WABCO HOLDINGS INC.
WBC
+$92.1M
5
CZR
Caesars Entertainment Corporation
CZR
+$64.7M

Sector Composition

Rank Sector Weight
1 Financials 38.63%
2 Technology 13.7%
3 Healthcare 12.31%
4 Industrials 7.17%
5 Consumer Discretionary 4.32%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LOGM
1
DELISTED
LogMein, Inc.
LOGM
$134M 12.32%
1,581,143
+109,589
+7% +$9.3M
ETFC
2
DELISTED
E*Trade Financial Corporation
ETFC
$130M 11.92%
2,608,208
+2,348,534
+904% +$101M
TIF
3
DELISTED
Tiffany & Co.
TIF
$124M 11.35%
1,013,209
+170,069
+20% +$21.3M
AMTD
4
DELISTED
TD Ameritrade Holding Corp
AMTD
$114M 10.43%
3,120,538
+498,091
+19% +$18.8M
LM
5
DELISTED
Legg Mason, Inc.
LM
$105M 9.64%
2,107,836
+603,836
+40% +$30M
WMGI
6
DELISTED
Wright Medical Group Inc
WMGI
$94.7M 8.7%
3,184,714
+817,004
+35% +$23.9M
ADSW
7
DELISTED
Advanced Disposal Services Inc
ADSW
$52M 4.78%
+1,724,525
New +$55M
WTW icon
8
Willis Towers Watson
WTW
$28.6B
$51.8M 4.76%
+263,064
New +$50.4M
DLPH
9
DELISTED
Delphi Technologies PLC Ordinary Shares
DLPH
$43.6M 4.01%
3,067,926
+1,702,263
+125% +$19.1M
PTLA
10
DELISTED
Portola Pharmaceuticals, Inc.
PTLA
$42.2M 3.88%
+2,347,489
New +$32.7M
CBB
11
DELISTED
Cincinnati Bell Inc.
CBB
$28.5M 2.62%
1,919,003
+1,134,530
+145% +$16.7M
UN
12
DELISTED
Unilever NV New York Registry Shares
UN
$22.8M 2.1%
+428,303
New +$21.8M
IBKC
13
DELISTED
IBERIABANK Corp
IBKC
$20.3M 1.86%
+445,248
New +$18.4M
GRUB
14
DELISTED
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
$19.9M 1.83%
+141,508
New +$15M
PACB icon
15
Pacific Biosciences
PACB
$422M
$18.7M 1.71%
5,408,764
-34,800
-0.6% -$118K
QGEN icon
16
Qiagen
QGEN
$8.47B
$18.6M 1.71%
408,277
+307,515
+305% +$13.8M
GILT icon
17
Gilat Satellite Networks
GILT
$831M
$8.48M 0.78%
1,331,930
+410,038
+44% +$3.16M
FIT
18
DELISTED
Fitbit, Inc. Class A common stock
FIT
$6.4M 0.59%
+990,584
New +$6.47M
RESI
19
DELISTED
Front Yard Residential Corporation Common Stock
RESI
$4.64M 0.43%
533,833
-519,746
-49% -$4.76M
VLDR
20
DELISTED
Velodyne Lidar, Inc. Common Stock
VLDR
$3.48M 0.32%
+286,699
New +$3.11M
GOEV
21
DELISTED
Canoo Inc. Class A Common Stock
GOEV
$2.69M 0.25%
+543
New +$2.56M
FSCT
22
DELISTED
ForeScout Technologies, Inc. Common Stock
FSCT
$2.43M 0.22%
114,623
-1,798,661
-94% -$48.9M
CHX
23
DELISTED
ChampionX
CHX
$2.18M 0.2%
+222,923
New +$2.04M
HECCU
24
DELISTED
Hudson Executive Investment Corp. Units
HECCU
$2.04M 0.19%
+200,000
New +$2.04M
FUSE.U
25
DELISTED
Fusion Acquisition Corp. Units, each consisting of one share of Class A common stock, $0.0001 par va
FUSE.U
$2.03M 0.19%
+200,000
New +$2.03M
1
2 3 4

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Water Island Capital's Q2 2020 Portfolio in Review

As of Q2 2020, Water Island Capital held 105 positions worth $1.09B, down 21% from $1.38B the previous quarter. Its ten largest holdings account for 82% of the portfolio.

Water Island Capital withdrew a net $321M in Q2 2020, closing 24 positions and reducing 11 holdings. Its most notable exit was Allergan plc, an estimated $151M position sold in full.

By sector, the portfolio is most concentrated in Financials at 39% of assets, up from 13% a quarter earlier, followed by Technology and Healthcare.

Against the trend, Water Island Capital opened a new position in Advanced Disposal Services Inc worth $52M.

  • Water Island Capital's largest Q2 2020 buy was Advanced Disposal Services Inc: 1,724,525 shares worth $52M.
  • Water Island Capital added most to E*Trade Financial Corporation in Q2 2020, an estimated $101M increase.
  • Water Island Capital's biggest Q2 2020 reduction was ForeScout Technologies, Inc. Common Stock, cutting an estimated $48.9M.
  • Water Island Capital fully exited Allergan plc in Q2 2020, selling an estimated $151M.
  • Water Island Capital's ten largest holdings make up 82% of its $1.09B portfolio in Q2 2020.
  • Water Island Capital opened 49 new positions and closed 24 in Q2 2020.
  • Water Island Capital's portfolio value fell 21% quarter-over-quarter to $1.09B.

Based on Water Island Capital's 13F filing for Q2 2020, filed 12 Aug 2020.