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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
+11.04%
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
$1.17B
AUM Growth
-$100M
Cap. Flow
-$148M
Cap. Flow %
-12.64%
Top 10 Hldgs %
53.56%
Holding
106
New
32
Increased
19
Reduced
14
Closed
30

Top Buys

Rank Stock Value
1
NATI
National Instruments Corp
NATI
+$53.7M
2
SYNH
Syneos Health, Inc. Class A Common Stock
SYNH
+$30.4M
3
CIR
CIRCOR International, Inc
CIR
+$29.8M
4
PDCE
PDC Energy, Inc.
PDCE
+$27.5M
5
LSI
Life Storage, Inc.
LSI
+$25.6M

Top Sells

Rank Stock Value
1
DCP
DCP Midstream, LP
DCP
+$58M
2
MNTV
Momentive Global Inc. Common Stock
MNTV
+$54.8M
3
XM
Qualtrics International Inc. Class A Common Stock
XM
+$51.8M
4
SUMO
Sumo Logic, Inc. Common Stock
SUMO
+$46.1M
5
SJR
Shaw Communications Inc.
SJR
+$43.7M

Sector Composition

Rank Sector Weight
1 Technology 28.34%
2 Healthcare 17.94%
3 Industrials 9.09%
4 Real Estate 5.43%
5 Communication Services 5.04%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ATVI
1
DELISTED
Activision Blizzard
ATVI
$99.3M 8.5%
1,177,830
+192,208
+20% +$15.6M
VMW
2
DELISTED
VMware, Inc
VMW
$80.8M 6.92%
562,401
+47,098
+9% +$6.11M
HZNP
3
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$72.9M 6.25%
709,118
+138,510
+24% +$14.6M
AJRD
4
DELISTED
Aerojet Rocketdyne Holdings
AJRD
$62.9M 5.38%
1,145,604
+24,411
+2% +$1.36M
TXNM
5
TXNM Energy Inc
TXNM
$6.47B
$58.6M 5.02%
1,300,338
+41,551
+3% +$1.96M
TGNA
6
DELISTED
TEGNA Inc
TGNA
$58.2M 4.99%
3,585,668
-21,932
-0.6% -$357K
NATI
7
DELISTED
National Instruments Corp
NATI
$55.1M 4.72%
959,494
+937,744
+4,311% +$53.7M
UNVR
8
DELISTED
Univar Solutions Inc.
UNVR
$53M 4.54%
1,478,070
+204,828
+16% +$7.27M
CIR
9
DELISTED
CIRCOR International, Inc
CIR
$47.9M 4.11%
+849,203
New +$29.8M
HZNP
10
PUT
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$36.7M 3.14%
356,500
+310,500
+675% +$32.8M
FOCS
11
DELISTED
Focus Financial Partners Inc. Class A
FOCS
$35.2M 3.01%
670,397
-20,029
-3% -$1.04M
SYNH
12
DELISTED
Syneos Health, Inc. Class A Common Stock
SYNH
$31.7M 2.71%
+751,590
New +$30.4M
SGEN
13
DELISTED
Seagen Inc. Common Stock
SGEN
$29.7M 2.54%
154,211
+45,782
+42% +$9.1M
PDCE
14
DELISTED
PDC Energy, Inc.
PDCE
$29M 2.48%
+407,645
New +$27.5M
RADI
15
DELISTED
Radius Global Infrastructure, Inc. Class A Common Stock
RADI
$26.2M 2.24%
1,756,943
+246,779
+16% +$3.64M
TRTN
16
DELISTED
Triton International Limited
TRTN
$25.8M 2.21%
+309,687
New +$25.1M
LSI
17
DELISTED
Life Storage, Inc.
LSI
$25.6M 2.19%
+192,170
New +$25.6M
SIMO icon
18
Silicon Motion
SIMO
$9.19B
$25.1M 2.15%
348,848
-2,133
-0.6% -$136K
FORG
19
DELISTED
ForgeRock, Inc.
FORG
$23.7M 2.03%
1,154,346
+287,541
+33% +$5.76M
ISEE
20
CALL
DELISTED
IVERIC bio, Inc. Common Stock
ISEE
$23.3M 1.99%
+592,100
New +$20.9M
DICE
21
DELISTED
DICE Therapeutics, Inc. Common Stock
DICE
$22.5M 1.93%
+483,894
New +$16.7M
ISEE
22
DELISTED
IVERIC bio, Inc. Common Stock
ISEE
$19.8M 1.7%
+503,196
New +$17.8M
ABST
23
DELISTED
Absolute Software Corp
ABST
$19.5M 1.67%
+1,697,977
New +$17M
ACI icon
24
Albertsons Companies
ACI
$5.4B
$18.8M 1.61%
861,832
+801,832
+1,336% +$16.7M
FHN icon
25
First Horizon
FHN
$12.1B
$17.7M 1.52%
1,570,681
-1,535,749
-49% -$20.6M
1
2 3 4

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FTM
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Water Island Capital's Q2 2023 Portfolio in Review

As of Q2 2023, Water Island Capital held 106 positions worth $1.17B, down 7.9% from $1.27B the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Water Island Capital withdrew a net $148M in Q2 2023, closing 30 positions and reducing 14 holdings. Its most notable exit was DCP Midstream, LP, an estimated $58M position sold in full.

By sector, the portfolio is most concentrated in Technology at 28% of assets, down from 29% a quarter earlier, followed by Healthcare and Industrials.

Against the trend, Water Island Capital opened a new position in Syneos Health, Inc. Class A Common Stock worth $31.7M.

  • Water Island Capital's largest Q2 2023 buy was Syneos Health, Inc. Class A Common Stock: 751,590 shares worth $31.7M.
  • Water Island Capital added most to National Instruments Corp in Q2 2023, an estimated $53.7M increase.
  • Water Island Capital's biggest Q2 2023 reduction was Diversey Holdings, Ltd. Ordinary Shares, cutting an estimated $29.6M.
  • Water Island Capital fully exited DCP Midstream, LP in Q2 2023, selling an estimated $58M.
  • Water Island Capital's ten largest holdings make up 54% of its $1.17B portfolio in Q2 2023.
  • Water Island Capital opened 32 new positions and closed 30 in Q2 2023.
  • Water Island Capital's portfolio value fell 7.9% quarter-over-quarter to $1.17B.

Based on Water Island Capital's 13F filing for Q2 2023, filed 14 Aug 2023.