Water Island Capital, LLC has released its 13F quarterly report. In this article, we will quickly review the three biggest positions held by the hedge fund management firm. Water Island Capital, LLC’s top three picks are Foster Wheeler AG (NASDAQ:FWLT), TW Telecom Inc (NASDAQ:TWTC) and DryShips Inc. (NASDAQ:DRYS).
Water Island Capital owns 4,821,814 shares of Foster Wheeler AG (NASDAQ:FWLT) worth $152 million. In the last quarterly report, the hedge fund had 4,861,134 shares of Foster Wheeler AG (NASDAQ:FWLT) worth $165 million. This shows a decrease in the investment by the fund management firm in the company. Among other shareholders of Foster Wheeler AG (NASDAQ:FWLT) include Gavin M. Abrams’s Abrams Bison Investments. The company recorded its last purchase back in 2013. In September this year, Kent J Masters sold its stock at $31 per share.
TW Telecom Inc (NASDAQ:TWTC) is the second biggest position held by Water Island Capital. It has 3,516,084 of the company worth $146 million. Last quarter depicted Water Island owing TW Telecom Inc (NASDAQ:TWTC) shares worth $128 million. Among other famous shareholders of TW Telecom Inc (NASDAQ:TWTC) include Rober Millard’s Realm Management and Keith Meister’s corvex Capital. The company recorded its last purchase back in 2011. Its stock was sold by Gregory Attorri in last month at $41.
DryShips Inc. (NASDAQ:DRYS) is the third biggest position held by Water Island Capital. It has 14,674,000 shares of the company worth $145 million. Last quarter, it had shares of the company worth just $6 million. This is a massive tilt towards the company by the fund manager. Among other top shareholders of DryShips Inc. (NASDAQ:DRYS) include Hugh Hendry’s Eclectica Asset Management.
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