Water Island Capital’s Paragon 28, Inc. FNA Stock Holding History

Water Island Capital’s Portfolio FNA Stock Details FNA Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q2	–	Sell	-358,000	Closed	-$4.68M	–	105
2025 Q1	$4.68M	Buy	+358,000	New	+$4.46M	0.61%	39

Other funds holding FNA

Osaic Holdings Scottsdale, Arizona $85.1B AUM 27.35% 1-Year Est. Return

IFP Advisors Tampa, Florida $5.54B AUM 27.43% 1-Year Est. Return

Water Island Capital's FNA Position: Q2 2025 in Review

Water Island Capital sold out of Paragon 28, Inc. (FNA) in Q2 2025, closing a stake of 358,000 shares — an estimated $4.68M sold.

Water Island Capital first reported a position in FNA in Q1 2025 and held it in 1 quarter. The position peaked at $4.68M in Q1 2025. 2 funds tracked by Wall St. Rank hold FNA as of Q2 2025.

Water Island Capital reported no remaining Paragon 28, Inc. position as of Q2 2025 after selling out during the quarter.
Water Island Capital sold 358,000 Paragon 28, Inc. shares in Q2 2025, an estimated $4.68M.
Water Island Capital first reported a position in Paragon 28, Inc. in Q1 2025 and held it in 1 quarter.
Water Island Capital's Paragon 28, Inc. position peaked at $4.68M in Q1 2025.
2 funds tracked by Wall St. Rank held Paragon 28, Inc. as of Q2 2025.

Based on Water Island Capital's 13F filing for Q2 2025, filed 14 Aug 2025.