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Alpha Wave Global, LP
Rick Gerson · Hedge Fund · Multi-Strategy
Alpha Wave Global, LP, formerly known as Falcon Edge Capital, is a diversified global alternative asset manager founded in 2012 by Rick Gerson, Navroz Udwadia, and Ryan Khoury. Headquartered in New York with a significant presence in Abu Dhabi, the firm manages approximately $21 billion in assets across three primary verticals: private equity, private credit, and public markets. Alpha Wave focuses on identifying asymmetric risk-reward opportunities globally, with a particular emphasis on growth-stage technology companies, specialized credit solutions, and uncorrelated public market strategies.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | -8.9% |
| YTD return | -24.3% |
| Sharpe ratio | 1.45 |
| Win rate | 38% |
| AUM | $7.5B |
| Inception | Oct 1, 2025 |
| Updated | Sep 22, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $7.5B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://www.alphawaveglobal.com/ |
Current Holdings
Updated on Sep 22, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| SPCX | SPAC and New Issue ETF | 58.0% | +12.7% |
| CBRS | Cerebras Systems Inc. | 29.7% | -16.1% |
| QXO | QXO, Inc. | 4.3% | -30.3% |
| APMD | Apnimed, Inc. Common Stock | 2.9% | -6.6% |
| ANRO | Alto Neuroscience, Inc. | 1.7% | +130.4% |
| BA | The Boeing Company | 0.5% | -10.6% |
| RDNT | RadNet Inc | 0.5% | +0.5% |
| WWD | Woodward Inc | 0.5% | +11.2% |
| VTR | Ventas Inc | 0.3% | -0.2% |
| CDP | COPT Defense Properties | 0.3% | +3.4% |
| LENZ | LENZ Therapeutics Inc | 0.2% | -77.9% |
| LXP | LXP Industrial Trust | 0.2% | -0.0% |
| AMRZ | Amrize Ltd | 0.2% | -21.6% |
| NSP | Insperity Inc | 0.2% | -4.9% |
| REZI | Resideo Technologies Inc | 0.1% | -45.5% |
| JAN | Janus Living, Inc. | 0.1% | -2.7% |
| CBL | CBL & Associates Properties Inc | 0.1% | +46.3% |
| PRCH | Porch Group Inc | 0.1% | +30.7% |
| AMLX | Amylyx Pharmaceuticals Inc | 0.1% | +33.9% |
| HON | Honeywell International Inc | 0.1% | -1.8% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Aug 31, 2026 | SELL | CBRS | 34.1% → 29.7% |
| Aug 31, 2026 | BUY | NSP | 0.2% → 0.2% |
| Aug 31, 2026 | BUY | AMRZ | 0.2% → 0.2% |
| Aug 31, 2026 | BUY | ANRO | 1.5% → 1.7% |
| Aug 31, 2026 | BUY | VTR | 0.3% → 0.3% |
Investment Style Analysis
Alpha Wave Global, LP is widely recognized for employing a Multi-Strategy strategy. As of Sep 22, 2026, the firm oversees approximately $7.5B in assets under management (AUM). The portfolio demonstrates a clear preference for the Other and Industrial Distribution sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Aug 31, Alpha Wave Global, LP made a significant move by reducing the position in CBRS. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
Alpha Wave Global employs a value-oriented and opportunistic investment philosophy, seeking to generate superior risk-adjusted absolute returns by exploiting market asymmetries. The firm adopts a long-term, partnership-driven approach in private markets, supporting best-in-class growth companies and founders with strategic guidance. In public markets, it aims for uncorrelated return streams through special situations, while its credit platform focuses on generating current income via senior secured loans. The strategy is global and data-driven, often leveraging its deep connections in emerging markets and technology hubs to identify differentiated opportunities.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with Alpha Wave Global, LP.
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Frequently asked questions
How is the simulated portfolio for Alpha Wave Global, LP constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is Alpha Wave Global, LP's largest holding?
As of the latest filing, Alpha Wave Global, LP's top position is SPAC and New Issue ETF (SPCX), representing 58.0% of the portfolio. This reflects a high-conviction bet by the institution.
What is Alpha Wave Global, LP's historical performance and risk profile?
Our simulation indicates a total return of -8.9% with a win rate of 38%. Notably, the portfolio maintains a Sharpe Ratio of 1.45, suggesting an strong level of risk-adjusted returns compared to the broader market.
What sectors does Alpha Wave Global, LP primarily invest in?
Alpha Wave Global, LP has a strong preference for the Other sector, which makes up 90.7% of their disclosed assets. The portfolio also has exposure to Industrial Distribution, indicating a specific thematic focus.
Is Alpha Wave Global, LP's portfolio concentrated or diversified?
Alpha Wave Global, LP runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 92.0% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has Alpha Wave Global, LP performed in 2026?
Our AI-simulated model portfolio for Alpha Wave Global, LP tracks a Year-to-Date (YTD) return of -24.3%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Rick Gerson manage Alpha Wave Global, LP directly?
Yes, Rick Gerson serves as the key portfolio manager for Alpha Wave Global, LP, overseeing the investment strategy and final capital allocation decisions.