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WIC

Water Island Capital Portfolio holdings

AUM $896M
1-Year Est. Return 107.59%
This Fund
S&P 500
This Quarter Est. Return
+4.66%
1 Year Est. Return
+107.59%
3 Year Est. Return
+414.38%
5 Year Est. Return
+1,508.7%
10 Year Est. Return
+23,520.93%
AUM
$926M
AUM Growth
-$67M
Cap. Flow
-$121M
Cap. Flow %
-13.05%
Top 10 Hldgs %
46.52%
Holding
113
New
32
Increased
20
Reduced
9
Closed
35

Top Buys

Rank Stock Value
1
ZUO
Zuora, Inc.
ZUO
+$23.5M
2
ROIC
Retail Opportunity Investments Corp.
ROIC
+$21.9M
3
CDMO
Avid Bioservices, Inc. Common Stock
CDMO
+$18.3M
4
SUM
Summit Materials, Inc. Class A Common Stock
SUM
+$18M
5
SMAR
Smartsheet Inc.
SMAR
+$15.2M

Top Sells

Rank Stock Value
1
AXNX
Axonics, Inc. Common Stock
AXNX
+$48.2M
2
SQSP
Squarespace, Inc.
SQSP
+$46.2M
3
MRO
Marathon Oil Corporation
MRO
+$43.4M
4
VZIO
VIZIO Holding Corp.
VZIO
+$37.5M
5
CTLT
CATALENT, INC.
CTLT
+$34.4M

Sector Composition

Rank Sector Weight
1 Technology 22.09%
2 Communication Services 10.16%
3 Energy 9.86%
4 Healthcare 9.79%
5 Consumer Staples 9.59%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BERY
26
DELISTED
Berry Global Group, Inc.
BERY
$11.4M 1.23%
+176,474
New +$11.6M
B
27
DELISTED
Barnes Group Inc.
B
$10.8M 1.17%
+229,306
New +$10.7M
JWN
28
DELISTED
Nordstrom
JWN
$9.15M 0.99%
+379,000
New +$8.75M
JWN
29
PUT
DELISTED
Nordstrom
JWN
$9.15M 0.99%
+379,000
New +$8.75M
AMCR icon
30
CALL
Amcor
AMCR
$22.1B
$8.87M 0.96%
+188,500
New +$9.85M
PDCO
31
DELISTED
Patterson Companies, Inc.
PDCO
$7.27M 0.79%
+235,572
New +$5.47M
RVNC
32
CALL
DELISTED
Revance Therapeutics, Inc.
RVNC
$7.1M 0.77%
+2,334,200
New +$10.2M
IPG
33
DELISTED
Interpublic Group of Companies
IPG
$6.98M 0.75%
+249,257
New +$7.44M
CCRN
34
DELISTED
Cross Country Healthcare
CCRN
$6.68M 0.72%
+368,095
New +$4.96M
OMC icon
35
CALL
Omnicom Group
OMC
$23.4B
$6.63M 0.72%
+77,000
New +$7.63M
CSGP icon
36
CALL
CoStar Group
CSGP
$12.3B
$5.78M 0.62%
+80,700
New +$6.09M
BA.PRA
37
Boeing Co 6.00% Series A Preferred Stock
BA.PRA
$8.27B
$4.87M 0.53%
+80,000
New +$4.51M
DESP
38
CALL
DELISTED
Despegar.com
DESP
$4.19M 0.45%
+217,900
New +$3.43M
ENLC
39
DELISTED
ENLINK MIDSTREAM, LLC
ENLC
$3.86M 0.42%
+272,659
New +$4.07M
LBRDK icon
40
Liberty Broadband Class C
LBRDK
$5.15B
$2.79M 0.3%
+37,309
New +$3.11M
ARCH
41
DELISTED
Arch Resources, Inc.
ARCH
$2.57M 0.28%
18,173
+12,831
+240% +$1.95M
RVNC
42
DELISTED
Revance Therapeutics, Inc.
RVNC
$2.2M 0.24%
722,234
-1,658,962
-70% -$7.23M
ALE
43
DELISTED
Allete
ALE
$1.82M 0.2%
28,162
+7,493
+36% +$483K
BA icon
44
PUT
Boeing
BA
$185B
$1.77M 0.19%
+10,000
New +$1.57M
HTLF
45
DELISTED
Heartland Financial USA, Inc.
HTLF
$1.71M 0.19%
27,940
+7,061
+34% +$442K
DFS
46
DELISTED
Discover Financial Services
DFS
$1.48M 0.16%
8,558
-1,332
-13% -$219K
FBMS
47
DELISTED
The First Bancshares, Inc.
FBMS
$1.2M 0.13%
34,345
+21,402
+165% +$746K
IBTX
48
DELISTED
Independent Bank Group, Inc.
IBTX
$1.18M 0.13%
19,464
+4,042
+26% +$250K
USAP
49
DELISTED
Universal Stainless & Alloy
USAP
$1.15M 0.12%
+26,054
New +$1.13M
DOCN icon
50
CALL
DigitalOcean
DOCN
$14.6B
$1.12M 0.12%
+33,000
New +$1.29M
1
2
3 4

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WP
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BFFIM
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Water Island Capital's Q4 2024 Portfolio in Review

As of Q4 2024, Water Island Capital held 113 positions worth $926M, down 6.8% from $993M the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Water Island Capital withdrew a net $121M in Q4 2024, closing 35 positions and reducing 9 holdings. Its most notable exit was Axonics, Inc. Common Stock, an estimated $48.2M position sold in full.

By sector, the portfolio is most concentrated in Technology at 22% of assets, down from 27% a quarter earlier, followed by Communication Services and Energy.

Against the trend, Water Island Capital opened a new position in Zuora, Inc. worth $24M.

  • Water Island Capital's largest Q4 2024 buy was Zuora, Inc.: 2,422,511 shares worth $24M.
  • Water Island Capital added most to Smartsheet Inc. in Q4 2024, an estimated $15.2M increase.
  • Water Island Capital's biggest Q4 2024 reduction was US Steel, cutting an estimated $10.9M.
  • Water Island Capital fully exited Axonics, Inc. Common Stock in Q4 2024, selling an estimated $48.2M.
  • Water Island Capital's ten largest holdings make up 47% of its $926M portfolio in Q4 2024.
  • Water Island Capital opened 32 new positions and closed 35 in Q4 2024.
  • Water Island Capital's portfolio value fell 6.8% quarter-over-quarter to $926M.

Based on Water Island Capital's 13F filing for Q4 2024, filed 13 Feb 2025.