John Orrico’s Water Island Capital Invests in $ AATI

John Orrico’s Water Island Capital LLC acquired 11.41% of the Advanced Analogic Technologies Inc. on September 9th. After this transaction, Water Island Capital LLC holds 5.03 M shares of the company. Stock’s current price is $3.85, and lost almost 4% so far in 2011. Water Island did not have any shares in AATI at the end of second quarter. They purchased five million shares by paying more than the current market price of the stock. Water Island Capital LLC now owns 11.41% of the company.

There are other hedge funds that are interested in Advanced Analogic Technologies Inc. Robert Emil Zoellner’s Alpine Associates has the second largest stake in AATI after Water Island Capital. Alpine Associates currently holds 2.08 M shares of AATI. Cliff Asness’s AQR Capital Management owns the third largest chunk of shares; that is, 2.07 M. Israel Englander’s Millennium Management increased his position in second quarter by 157%, resulting in an ownership of 1.71 M shares of Advanced Analogical Technologies.


Water Island Capital was established in 2000 by John Orrico. Water Island usually invests in merger arbitrage and risk arbitrage. Orrico has been serving in the sector since 1982, with different positions in finance and equity trading. John Orrico graduated from Georgetown University with a double major in Finance and International Management.

According to the Google Finance, AATI  “Advanced Analogic Technologies Incorporated (AATI) is engaged in the development of advanced semiconductor system solutions. It addresses the application-specific needs of consumer, communications and computing electronic devices, such as wireless handsets, notebook and tablet computers, smartphones, camera phones, digital cameras, personal media players, Bluetooth headphones and accessories, digital television (TV), set top boxes and displays. Through its Total Power Management approach, AATI offers a range of products that support multiple applications, features, and services across a varied set of electronic devices. AATI sells its products through distributors to original design manufacturers (ODM), to contract manufacturers, and to other system designers.”

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