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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
+3.6%
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
$1.74B
AUM Growth
-$156M
Cap. Flow
-$296M
Cap. Flow %
-17.06%
Top 10 Hldgs %
60.23%
Holding
112
New
37
Increased
14
Reduced
6
Closed
42

Top Buys

Rank Stock Value
1
FIVN icon
FIVE9
FIVN
+$125M
2
HRC
HILL-ROM HOLDINGS, INC.
HRC
+$47.3M
3
KSU
Kansas City Southern
KSU
+$44M
4
CSOD
Cornerstone OnDemand, Inc.
CSOD
+$43.3M
5
SAFM
Sanderson Farms Inc
SAFM
+$39.2M

Top Sells

Rank Stock Value
1
ALXN
Alexion Pharmaceuticals
ALXN
+$105M
2
MXIM
Maxim Integrated Products
MXIM
+$105M
3
WORK
Slack Technologies, Inc.
WORK
+$100M
4
WTW icon
Willis Towers Watson
WTW
+$98.3M
5
GRA
W.R. Grace & Co.
GRA
+$73.5M

Sector Composition

Rank Sector Weight
1 Technology 28.93%
2 Industrials 24.73%
3 Healthcare 17.1%
4 Communication Services 9.96%
5 Real Estate 5.47%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WLFC icon
1
Willis Lease Finance
WLFC
$1.17B
$138M 7.95%
+1,781,382
New +$23.4M
INFO
2
DELISTED
IHS Markit Ltd. Common Shares
INFO
$134M 7.71%
1,148,987
+86,438
+8% +$10.2M
KSU
3
DELISTED
Kansas City Southern
KSU
$123M 7.1%
455,788
+158,037
+53% +$44M
FIVN icon
4
FIVE9
FIVN
$2.55B
$110M 6.31%
+686,798
New +$125M
NUAN
5
DELISTED
Nuance Communications, Inc.
NUAN
$108M 6.23%
1,967,894
+519,992
+36% +$28.6M
PPD
6
DELISTED
PPD, Inc. Common Stock
PPD
$102M 5.85%
2,172,818
+479,318
+28% +$22.2M
XLNX
7
DELISTED
Xilinx Inc
XLNX
$99.6M 5.74%
659,912
+149,100
+29% +$21.8M
COHR
8
DELISTED
Coherent Inc
COHR
$88.2M 5.08%
352,804
-16,863
-5% -$4.23M
WBT
9
DELISTED
Welbilt, Inc.
WBT
$76.1M 4.38%
3,275,296
+692,439
+27% +$16.3M
CHNG
10
DELISTED
Change Healthcare Inc. Common Stock
CHNG
$67.3M 3.87%
3,214,759
+180,666
+6% +$3.94M
HRC
11
DELISTED
HILL-ROM HOLDINGS, INC.
HRC
$52.6M 3.03%
+350,757
New +$47.3M
CSOD
12
DELISTED
Cornerstone OnDemand, Inc.
CSOD
$45.7M 2.63%
+798,143
New +$43.3M
AJRD
13
DELISTED
Aerojet Rocketdyne Holdings
AJRD
$45.6M 2.62%
1,046,040
+368,408
+54% +$16.4M
MNR
14
DELISTED
Monmouth Real Estate Investment Corp
MNR
$39.3M 2.26%
2,107,070
+416,310
+25% +$7.88M
MDLA
15
DELISTED
Medallia, Inc.
MDLA
$39.1M 2.25%
+1,154,515
New +$38.6M
SAFM
16
DELISTED
Sanderson Farms Inc
SAFM
$39.1M 2.25%
+207,739
New +$39.2M
CVA
17
DELISTED
Covanta Holding Corporation
CVA
$33.5M 1.93%
+1,665,163
New +$32.9M
CXP
18
DELISTED
COLUMBIA PROPERTY TRUST, INC.
CXP
$32.7M 1.88%
+1,718,772
New +$29.9M
ATC
19
DELISTED
Atotech Limited
ATC
$29M 1.67%
+1,198,797
New +$28.8M
DSPG
20
DELISTED
DSP Group Inc
DSPG
$26.1M 1.5%
+1,193,259
New +$21.3M
INOV
21
DELISTED
Inovalon Holdings, Inc. Class A Common Stock
INOV
$26M 1.5%
+644,922
New +$24.4M
GSKY
22
DELISTED
GreenSky, Inc. Class A Common Stock
GSKY
$24.7M 1.42%
+2,210,506
New +$17.4M
FRTA
23
DELISTED
Forterra, Inc
FRTA
$23.5M 1.35%
997,824
+3,517
+0.4% +$82.8K
MGP
24
DELISTED
MGM Growth Properties LLC Class A common shares representing limited liability company interests
MGP
$22.8M 1.31%
+596,247
New +$23.4M
MX icon
25
Magnachip Semiconductor
MX
$101M
$21.1M 1.21%
1,187,839
+644,161
+118% +$12.8M
1
2 3 4 5

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Water Island Capital's Q3 2021 Portfolio in Review

As of Q3 2021, Water Island Capital held 112 positions worth $1.74B, down 8.3% from $1.89B the previous quarter. Its ten largest holdings account for 60% of the portfolio.

Water Island Capital withdrew a net $296M in Q3 2021, closing 42 positions and reducing 6 holdings. Its most notable exit was Alexion Pharmaceuticals, an estimated $105M position sold in full.

By sector, the portfolio is most concentrated in Technology at 29% of assets, down from 33% a quarter earlier, followed by Industrials and Healthcare.

Against the trend, Water Island Capital opened a new position in FIVE9 worth $110M.

  • Water Island Capital's largest Q3 2021 buy was FIVE9: 686,798 shares worth $110M.
  • Water Island Capital added most to Kansas City Southern in Q3 2021, an estimated $44M increase.
  • Water Island Capital's biggest Q3 2021 reduction was VEREIT, Inc., cutting an estimated $59.8M.
  • Water Island Capital fully exited Alexion Pharmaceuticals in Q3 2021, selling an estimated $105M.
  • Water Island Capital's ten largest holdings make up 60% of its $1.74B portfolio in Q3 2021.
  • Water Island Capital opened 37 new positions and closed 42 in Q3 2021.
  • Water Island Capital's portfolio value fell 8.3% quarter-over-quarter to $1.74B.

Based on Water Island Capital's 13F filing for Q3 2021, filed 12 Nov 2021.