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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
+2.31%
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
$1.6B
AUM Growth
-$370M
Cap. Flow
-$284M
Cap. Flow %
-17.76%
Top 10 Hldgs %
39.13%
Holding
121
New
37
Increased
18
Reduced
23
Closed
33

Top Buys

Rank Stock Value
1
CDK
CDK Global, Inc.
CDK
+$55.3M
2
ZEN
ZENDESK INC
ZEN
+$50.7M
3
SAIL
SailPoint Technologies Holdings, Inc. Common Stock
SAIL
+$42.8M
4
ACC
American Campus Communities, Inc.
ACC
+$36.4M
5
SWCH
Switch, Inc. Class A Common Stock
SWCH
+$32.2M

Top Sells

Rank Stock Value
1
COHR
Coherent Inc
COHR
+$71.3M
2
CERN
Cerner Corp
CERN
+$66.9M
3
HMHC
Houghton Mifflin Harcourt Company
HMHC
+$60.4M
4
PLAN
Anaplan, Inc.
PLAN
+$57.9M
5
MIME
Mimecast Limited
MIME
+$54.8M

Sector Composition

Rank Sector Weight
1 Technology 33.05%
2 Industrials 17.99%
3 Communication Services 11.95%
4 Financials 8.43%
5 Healthcare 6.12%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
Y
1
DELISTED
Alleghany Corp
Y
$75.3M 4.71%
90,411
+22,180
+33% +$18.6M
CHNG
2
DELISTED
Change Healthcare Inc. Common Stock
CHNG
$71.6M 4.47%
3,103,429
+104,965
+4% +$2.45M
MNDT
3
DELISTED
Mandiant, Inc. Common Stock
MNDT
$69.8M 4.36%
3,197,128
+546,087
+21% +$12M
WBT
4
DELISTED
Welbilt, Inc.
WBT
$64.9M 4.05%
2,723,931
-908,911
-25% -$21.5M
ATVI
5
DELISTED
Activision Blizzard
ATVI
$63.3M 3.96%
813,380
+93,949
+13% +$7.31M
TGNA
6
DELISTED
TEGNA Inc
TGNA
$58.3M 3.64%
2,779,781
+301,205
+12% +$6.52M
NLSN
7
DELISTED
Nielsen Holdings plc
NLSN
$57.8M 3.61%
2,487,275
+561,275
+29% +$14.4M
CDK
8
DELISTED
CDK Global, Inc.
CDK
$56M 3.5%
+1,022,477
New +$55.3M
ROG icon
9
Rogers Corp
ROG
$2.33B
$55.4M 3.46%
211,530
-101,205
-32% -$26.9M
FHN icon
10
First Horizon
FHN
$12.1B
$54.1M 3.38%
2,475,113
+312,970
+14% +$7.03M
POLY
11
DELISTED
Plantronics, Inc.
POLY
$52.5M 3.28%
1,323,459
+210,459
+19% +$8.36M
CTXS
12
DELISTED
Citrix Systems Inc
CTXS
$51.8M 3.23%
532,601
+29,414
+6% +$2.93M
SJI
13
DELISTED
South Jersey Industries, Inc.
SJI
$51.3M 3.21%
1,503,351
+320,490
+27% +$11M
VG
14
DELISTED
Vonage Holdings Corporation
VG
$50.5M 3.16%
2,681,289
-122,659
-4% -$2.35M
TXNM
15
TXNM Energy Inc
TXNM
$6.47B
$48.3M 3.02%
1,010,332
-19,730
-2% -$925K
SAIL
16
DELISTED
SailPoint Technologies Holdings, Inc. Common Stock
SAIL
$43.5M 2.72%
+693,752
New +$42.8M
CNR
17
DELISTED
Cornerstone Building Brands, Inc.
CNR
$43.3M 2.7%
1,767,673
-197,714
-10% -$4.82M
LHCG
18
DELISTED
LHC Group LLC
LHCG
$42.8M 2.67%
274,614
+41,614
+18% +$6.86M
ZEN
19
DELISTED
ZENDESK INC
ZEN
$38.1M 2.38%
+514,035
New +$50.7M
ACC
20
DELISTED
American Campus Communities, Inc.
ACC
$37.1M 2.32%
+575,066
New +$36.4M
SAFM
21
DELISTED
Sanderson Farms Inc
SAFM
$36.1M 2.26%
167,628
-55,677
-25% -$10.9M
TEN
22
DELISTED
Tenneco Inc. Class A Voting Common Stock
TEN
$33.6M 2.1%
1,957,755
+398,339
+26% +$6.73M
SWCH
23
DELISTED
Switch, Inc. Class A Common Stock
SWCH
$33.4M 2.09%
+996,469
New +$32.2M
BHVN
24
DELISTED
Biohaven Pharmaceutical Holding Company Ltd.
BHVN
$28.6M 1.79%
+196,133
New +$25.1M
TPTX
25
DELISTED
Turning Point Therapeutics, Inc. Common Stock
TPTX
$27.8M 1.74%
+369,417
New +$16.4M
1
2 3 4 5

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Water Island Capital's Q2 2022 Portfolio in Review

As of Q2 2022, Water Island Capital held 121 positions worth $1.6B, down 19% from $1.97B the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Water Island Capital withdrew a net $284M in Q2 2022, closing 33 positions and reducing 23 holdings. Its most notable exit was Cerner Corp, an estimated $66.9M position sold in full.

By sector, the portfolio is most concentrated in Technology at 33% of assets, up from 31% a quarter earlier, followed by Industrials and Communication Services.

Against the trend, Water Island Capital opened a new position in CDK Global, Inc. worth $56M.

  • Water Island Capital's largest Q2 2022 buy was CDK Global, Inc.: 1,022,477 shares worth $56M.
  • Water Island Capital added most to Alleghany Corp in Q2 2022, an estimated $18.6M increase.
  • Water Island Capital's biggest Q2 2022 reduction was Coherent Inc, cutting an estimated $71.3M.
  • Water Island Capital fully exited Cerner Corp in Q2 2022, selling an estimated $66.9M.
  • Water Island Capital's ten largest holdings make up 39% of its $1.6B portfolio in Q2 2022.
  • Water Island Capital opened 37 new positions and closed 33 in Q2 2022.
  • Water Island Capital's portfolio value fell 19% quarter-over-quarter to $1.6B.

Based on Water Island Capital's 13F filing for Q2 2022, filed 15 Aug 2022.