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WIC

Water Island Capital Portfolio holdings

AUM $1.08B
1-Year Est. Return 105.75%
This Fund
S&P 500
This Quarter Est. Return
+16.1%
1 Year Est. Return
+105.75%
3 Year Est. Return
+437.83%
5 Year Est. Return
+1,485.53%
10 Year Est. Return
+23,012.79%
AUM
$1.08B
AUM Growth
+$179M
Cap. Flow
+$118M
Cap. Flow %
11.02%
Top 10 Hldgs %
42.99%
Holding
138
New
42
Increased
23
Reduced
13
Closed
53

Top Buys

Rank Stock Value
1
TMHC
Taylor Morrison
TMHC
+$46.2M
2
CZR icon
Caesars Entertainment
CZR
+$36.2M
3
CPRX
Catalyst Pharmaceutical
CPRX
+$27.6M
4
RAMP icon
LiveRamp
RAMP
+$26.5M
5
D icon
Dominion Energy
D
+$24.8M

Top Sells

Rank Stock Value
1
HOLX
Hologic
HOLX
+$42.3M
2
MASI
Masimo
MASI
+$34.5M
3
TPH
Tri Pointe Homes
TPH
+$25.1M
4
GLDD
Great Lakes Dredge & Dock
GLDD
+$21.5M
5
ACLX
Arcellx
ACLX
+$21.1M

Sector Composition

Rank Sector Weight
1 Healthcare 16.99%
2 Miscellaneous 15.69%
3 Industrials 13.87%
4 Communication Services 12.09%
5 Financials 11.09%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
OGN icon
26
Organon & Co
OGN
$3.62B
$18.6M 1.73%
+1,374,899
New +$16.4M
STEL
27
DELISTED
Stellar Bancorp
STEL
$15.1M 1.4%
383,227
-48,004
-11% -$1.81M
OGN icon
28
PUT
Organon & Co
OGN
$3.62B
$13.2M 1.23%
+974,200
New +$11.6M
NUVL
29
DELISTED
Nuvalent
NUVL
$12.8M 1.19%
+103,979
New +$11.2M
APGE
30
DELISTED
Apogee Therapeutics
APGE
$12.6M 1.17%
+94,900
New +$8.55M
SPY icon
31
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$814B
$11.2M 1.04%
+15,000
New +$10.9M
NUVL
32
CALL
DELISTED
Nuvalent
NUVL
$10.4M 0.96%
+84,000
New +$9.03M
NUVL
33
PUT
DELISTED
Nuvalent
NUVL
$10.4M 0.96%
+84,000
New +$9.03M
XOMA
34
DELISTED
Xoma
XOMA
$10.3M 0.96%
+242,000
New +$9.81M
KVUE icon
35
Kenvue
KVUE
$36B
$7.68M 0.71%
402,042
-298,558
-43% -$5.26M
RAMP icon
36
PUT
LiveRamp
RAMP
$2.3B
$4.41M 0.41%
+117,100
New +$3.86M
GOOGM
37
Alphabet Inc Depositary Shares Series A Preferred Stock
GOOGM
$4.33M 0.4%
+85,000
New +$4.27M
QXO
38
CALL
QXO Inc
QXO
$13.9B
$3.46M 0.32%
+200,000
New +$3.72M
AXTA icon
39
Axalta
AXTA
$7.66B
$3.34M 0.31%
97,500
-109,402
-53% -$3.29M
GSAT icon
40
Globalstar
GSAT
$10.7B
$2.49M 0.23%
+30,668
New +$2.47M
AES icon
41
AES
AES
$10.6B
$2.46M 0.23%
167,570
-18,263
-10% -$265K
UNF icon
42
Unifirst Corp
UNF
$4.98B
$2.39M 0.22%
9,045
-16,698
-65% -$4.36M
APGE
43
PUT
DELISTED
Apogee Therapeutics
APGE
$2.32M 0.22%
+17,500
New +$1.58M
ESPR
44
DELISTED
Esperion Therapeutics
ESPR
$1.94M 0.18%
+612,774
New +$1.71M
PAYO icon
45
Payoneer
PAYO
$2.43B
$1.84M 0.17%
+258,216
New +$1.41M
NATL icon
46
NCR Atleos
NATL
$3.41B
$1.82M 0.17%
41,860
+2,921
+8% +$130K
BHF icon
47
Brighthouse Financial
BHF
$3.08B
$1.79M 0.17%
28,329
-5,161
-15% -$321K
QRVO icon
48
Qorvo
QRVO
$9.07B
$1.78M 0.17%
+19,052
New +$1.76M
AAUC
49
Allied Gold Corp
AAUC
$3.29B
$1.73M 0.16%
73,016
+231
+0.3% +$6.53K
SEM
50
DELISTED
Select Medical
SEM
$1.36M 0.13%
82,492
-20,975
-20% -$346K
1
2
3 4 5

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Water Island Capital's Q2 2026 Portfolio in Review

As of Q2 2026, Water Island Capital held 138 positions worth $1.08B, up 20% from $896M the previous quarter. Its ten largest holdings account for 43% of the portfolio.

Water Island Capital deployed $118M of net new capital in Q2 2026, opening 42 new positions and adding to 23 existing holdings. Its largest new stake was Taylor Morrison: 727,492 shares worth $52.2M.

By sector, the portfolio is most concentrated in Healthcare at 17% of assets, down from 22% a quarter earlier, followed by Miscellaneous and Industrials.

On the sell side, the largest reduction was Kenvue, an estimated $5.26M trimmed.

  • Water Island Capital's largest Q2 2026 buy was Taylor Morrison: 727,492 shares worth $52.2M.
  • Water Island Capital added most to Caesars Entertainment in Q2 2026, an estimated $36.2M increase.
  • Water Island Capital's biggest Q2 2026 reduction was Kenvue, cutting an estimated $5.26M.
  • Water Island Capital fully exited Hologic in Q2 2026, selling an estimated $42.3M.
  • Water Island Capital's ten largest holdings make up 43% of its $1.08B portfolio in Q2 2026.
  • Water Island Capital opened 42 new positions and closed 53 in Q2 2026.
  • Water Island Capital's portfolio value rose 20% quarter-over-quarter to $1.08B.

Based on Water Island Capital's 13F filing for Q2 2026, filed 14 Aug 2026.