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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
+11.91%
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
$1.12B
AUM Growth
-$48.4M
Cap. Flow
-$122M
Cap. Flow %
-10.89%
Top 10 Hldgs %
53.06%
Holding
115
New
39
Increased
9
Reduced
20
Closed
34

Top Buys

Rank Stock Value
1
DEN
Denbury Inc.
DEN
+$47.6M
2
NEWR
New Relic, Inc.
NEWR
+$34.2M
3
CPRI icon
Capri Holdings
CPRI
+$32.6M
4
ABCM
Abcam PLC
ABCM
+$32.6M
5
AVID
Avid Technology Inc
AVID
+$31.5M

Top Sells

Rank Stock Value
1
AJRD
Aerojet Rocketdyne Holdings
AJRD
+$62.9M
2
UNVR
Univar Solutions Inc.
UNVR
+$53M
3
CIR
CIRCOR International, Inc
CIR
+$40.5M
4
FOCS
Focus Financial Partners Inc. Class A
FOCS
+$35.2M
5
SYNH
Syneos Health, Inc. Class A Common Stock
SYNH
+$31.7M

Sector Composition

Rank Sector Weight
1 Technology 29.05%
2 Healthcare 16.97%
3 Consumer Staples 8.05%
4 Energy 7.49%
5 Financials 5.7%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ATVI
1
DELISTED
Activision Blizzard
ATVI
$104M 9.26%
1,107,205
-70,625
-6% -$6.44M
VMW
2
DELISTED
VMware, Inc
VMW
$86.9M 7.77%
522,177
-40,224
-7% -$6.44M
HZNP
3
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$79.7M 7.12%
688,794
-20,324
-3% -$2.18M
TXNM
4
TXNM Energy Inc
TXNM
$6.44B
$55.8M 4.98%
1,250,261
-50,077
-4% -$2.24M
DEN
5
DELISTED
Denbury Inc.
DEN
$51.6M 4.61%
+526,336
New +$47.6M
SGEN
6
DELISTED
Seagen Inc. Common Stock
SGEN
$49.6M 4.43%
233,580
+79,369
+51% +$15.9M
TGNA
7
DELISTED
TEGNA Inc
TGNA
$48.5M 4.34%
3,330,534
-255,134
-7% -$4.14M
NATI
8
DELISTED
National Instruments Corp
NATI
$44M 3.93%
737,438
-222,056
-23% -$13M
CPRI icon
9
Capri Holdings
CPRI
$1.88B
$37.9M 3.38%
+719,843
New +$32.6M
NEWR
10
DELISTED
New Relic, Inc.
NEWR
$36.3M 3.25%
+424,267
New +$34.2M
SOVO
11
DELISTED
Sovos Brands, Inc. Common Stock
SOVO
$33.3M 2.97%
+1,475,225
New +$31M
AVID
12
DELISTED
Avid Technology Inc
AVID
$32.2M 2.88%
+1,199,094
New +$31.5M
ABCM
13
DELISTED
Abcam PLC
ABCM
$32.1M 2.87%
+1,419,326
New +$32.6M
TWNK
14
DELISTED
Hostess Brands, Inc. Class A Common Stock
TWNK
$28.4M 2.54%
+853,795
New +$22.9M
ACI icon
15
Albertsons Companies
ACI
$5.73B
$28.4M 2.54%
1,247,398
+385,566
+45% +$8.61M
SPLK
16
DELISTED
Splunk Inc
SPLK
$27.5M 2.46%
+188,118
New +$21.3M
HCCI
17
DELISTED
Heritage-Crystal Clean, Inc.
HCCI
$24.8M 2.22%
+547,480
New +$24.4M
SIMO icon
18
Silicon Motion
SIMO
$7.7B
$24.6M 2.2%
480,248
+131,400
+38% +$7.47M
AMED
19
DELISTED
Amedisys
AMED
$23.3M 2.08%
249,329
+164,029
+192% +$15.2M
RPT
20
DELISTED
RPT Realty Common Shares of Beneficial Interest (MD)
RPT
$20.4M 1.82%
+1,930,180
New +$20.6M
AVTA
21
DELISTED
Avantax, Inc. Common Stock
AVTA
$20.1M 1.8%
+787,549
New +$18.7M
NXGN
22
DELISTED
NextGen Healthcare, Inc. Common Stock
NXGN
$20.1M 1.8%
+846,680
New +$15.9M
PACW
23
DELISTED
PacWest Bancorp
PACW
$18.4M 1.65%
+2,332,351
New +$19.5M
ESTE
24
DELISTED
Earthstone Energy Inc. Class A Common Stock
ESTE
$17.9M 1.6%
+885,597
New +$15.4M
AEL
25
DELISTED
American Equity Investment Life Holding Company
AEL
$15.4M 1.37%
+286,671
New +$15.3M
1
2 3 4 5

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Water Island Capital's Q3 2023 Portfolio in Review

As of Q3 2023, Water Island Capital held 115 positions worth $1.12B, down 4.1% from $1.17B the previous quarter. Its ten largest holdings account for 53% of the portfolio.

Water Island Capital withdrew a net $122M in Q3 2023, closing 34 positions and reducing 20 holdings. Its most notable exit was Aerojet Rocketdyne Holdings, an estimated $62.9M position sold in full.

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

Against the trend, Water Island Capital opened a new position in Denbury Inc. worth $51.6M.

  • Water Island Capital's largest Q3 2023 buy was Denbury Inc.: 526,336 shares worth $51.6M.
  • Water Island Capital added most to Seagen Inc. Common Stock in Q3 2023, an estimated $15.9M increase.
  • Water Island Capital's biggest Q3 2023 reduction was CIRCOR International, Inc, cutting an estimated $40.5M.
  • Water Island Capital fully exited Aerojet Rocketdyne Holdings in Q3 2023, selling an estimated $62.9M.
  • Water Island Capital's ten largest holdings make up 53% of its $1.12B portfolio in Q3 2023.
  • Water Island Capital opened 39 new positions and closed 34 in Q3 2023.
  • Water Island Capital's portfolio value fell 4.1% quarter-over-quarter to $1.12B.

Based on Water Island Capital's 13F filing for Q3 2023, filed 14 Nov 2023.