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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
+20.62%
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
$1.24B
AUM Growth
-$528M
(-30%)
Cap. Flow
-$612M
Cap. Flow
% of AUM
-49.4%
Top 10 Holdings %
Top 10 Hldgs %
46.7%
Holding
131
New
32
Increased
19
Reduced
23
Closed
44
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
|
+$35.4M |
| 2 |
ATCO
Atlas Corp.
ATCO
|
+$23.6M |
| 3 |
KNBE
KnowBe4, Inc. Class A Common Stock
KNBE
|
+$23.2M |
| 4 |
MYOV
Myovant Sciences Ltd.
MYOV
|
+$23.1M |
| 5 |
AIMC
Altra Industrial Motion Corp
AIMC
|
+$21.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CHNG
Change Healthcare Inc. Common Stock
CHNG
|
+$93.2M |
| 2 |
Y
Alleghany Corp
Y
|
+$83.3M |
| 3 |
ZEN
ZENDESK INC
ZEN
|
+$73.1M |
| 4 |
AVLR
Avalara, Inc.
AVLR
|
+$53.4M |
| 5 |
NLSN
Nielsen Holdings plc
NLSN
|
+$51.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26.4% |
| 2 | Industrials | 13.71% |
| 3 | Healthcare | 13.46% |
| 4 | Communication Services | 10.9% |
| 5 | Energy | 7.9% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
ATVI
1
DELISTED
Activision Blizzard
ATVI
| $70.7M | 5.7% |
923,380
-52,146
| -5% | -$3.87M |
|
|
TGNA
2
DELISTED
TEGNA Inc
TGNA
| $70.1M | 5.65% |
3,306,379
-102,890
| -3% | -$2.07M |
|
3
First Horizon
FHN
$12.2B
| $62M | 5% |
2,530,015
-74,263
| -3% | -$1.8M |
|
|
VMW
4
DELISTED
VMware, Inc
VMW
| $57.5M | 4.64% |
468,093
+37,732
| +9% | +$4.35M |
|
|
STOR
5
DELISTED
STORE Capital Corporation
STOR
| $56.9M | 4.59% |
1,775,643
+464,567
| +35% | +$14.7M |
|
|
TXNM
6
TXNM Energy Inc
TXNM
$6.45B
| $56.3M | 4.54% |
1,153,787
+91,242
| +9% | +$4.34M |
|
|
SJI
7
DELISTED
South Jersey Industries, Inc.
SJI
| $55.3M | 4.46% |
1,557,579
+22,323
| +1% | +$771K |
|
|
SWIR
8
DELISTED
Sierra Wireless
SWIR
| $53.5M | 4.31% |
1,843,762
+383,788
| +26% | +$11.3M |
|
|
HZNP
9
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $48.5M | 3.91% |
+426,020
| New | +$35.4M |
|
|
AJRD
10
DELISTED
Aerojet Rocketdyne Holdings
AJRD
| $48.2M | 3.89% |
861,438
+212,683
| +33% | +$10.5M |
|
|
AAWW
11
DELISTED
Atlas Air Worldwide Holdings, Inc.
AAWW
| $43.4M | 3.51% |
431,050
-15,069
| -3% | -$1.51M |
|
|
LHCG
12
DELISTED
LHC Group LLC
LHCG
| $42.3M | 3.42% |
261,856
-61,575
| -19% | -$10.2M |
|
|
ONEM
13
DELISTED
1Life Healthcare
ONEM
| $39.1M | 3.15% |
2,336,958
-459,705
| -16% | -$7.77M |
|
|
SGFY
14
DELISTED
Signify Health, Inc.
SGFY
| $31.3M | 2.52% |
1,091,689
-17,376
| -2% | -$502K |
|
|
EVOP
15
DELISTED
EVO Payments, Inc. Class A Common Stock
EVOP
| $28.6M | 2.31% |
844,796
-81,615
| -9% | -$2.74M |
|
|
SJR
16
DELISTED
Shaw Communications Inc.
SJR
| $25.4M | 2.05% |
883,222
+595,246
| +207% | +$15.6M |
|
|
AIMC
17
DELISTED
Altra Industrial Motion Corp
AIMC
| $24.7M | 1.99% |
+413,758
| New | +$21.7M |
|
|
RFP
18
DELISTED
Resolute Forest Products Inc.
RFP
| $24.3M | 1.96% |
1,126,840
-116,461
| -9% | -$2.44M |
|
|
ATCO
19
DELISTED
Atlas Corp.
ATCO
| $24M | 1.93% |
+1,563,414
| New | +$23.6M |
|
|
USER
20
DELISTED
UserTesting, Inc.
USER
| $23.7M | 1.91% |
+3,157,503
| New | +$20.2M |
|
|
MAXR
21
DELISTED
Maxar Technologies Inc. Common Stock
MAXR
| $23.7M | 1.91% |
+458,060
| New | +$12.6M |
|
|
MYOV
22
DELISTED
Myovant Sciences Ltd.
MYOV
| $23.7M | 1.91% |
+877,979
| New | +$23.1M |
|
|
KNBE
23
DELISTED
KnowBe4, Inc. Class A Common Stock
KNBE
| $23.7M | 1.91% |
+954,644
| New | +$23.2M |
|
24
Rogers Corp
ROG
$2.22B
| $23.6M | 1.91% |
197,936
-19,175
| -9% | -$2.98M |
|
|
COUP
25
DELISTED
Coupa Software Incorporated
COUP
| $23.3M | 1.88% |
+294,472
| New | +$17.6M |
|
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Water Island Capital's Q4 2022 Portfolio in Review
As of Q4 2022, Water Island Capital held 131 positions worth $1.24B, down 30% from $1.77B the previous quarter. Its ten largest holdings account for 47% of the portfolio.
Water Island Capital withdrew a net $612M in Q4 2022, closing 44 positions and reducing 23 holdings. Its most notable exit was Change Healthcare Inc. Common Stock, an estimated $93.2M position sold in full.
By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 33% a quarter earlier, followed by Industrials and Healthcare.
Against the trend, Water Island Capital opened a new position in Horizon Therapeutics Public Limited Company Ordinary Shares worth $48.5M.
- Water Island Capital's largest Q4 2022 buy was Horizon Therapeutics Public Limited Company Ordinary Shares: 426,020 shares worth $48.5M.
- Water Island Capital added most to Shaw Communications Inc. in Q4 2022, an estimated $15.6M increase.
- Water Island Capital's biggest Q4 2022 reduction was Cowen Inc. Class A Common Stock, cutting an estimated $16.1M.
- Water Island Capital fully exited Change Healthcare Inc. Common Stock in Q4 2022, selling an estimated $93.2M.
- Water Island Capital's ten largest holdings make up 47% of its $1.24B portfolio in Q4 2022.
- Water Island Capital opened 32 new positions and closed 44 in Q4 2022.
- Water Island Capital's portfolio value fell 30% quarter-over-quarter to $1.24B.
Based on Water Island Capital's 13F filing for Q4 2022, filed 14 Feb 2023.