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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
+17.25%
1 Year Est. Return
+107.59%
3 Year Est. Return
+414.38%
5 Year Est. Return
+1,508.69%
10 Year Est. Return
+23,520.55%
AUM
$896M
AUM Growth
-$32M
(-3.4%)
Cap. Flow
-$101M
Cap. Flow
% of AUM
-11.23%
Top 10 Holdings %
Top 10 Hldgs %
45.42%
Holding
145
New
59
Increased
21
Reduced
9
Closed
47
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Penumbra
PEN
|
+$40.7M |
| 2 |
MASI
Masimo
MASI
|
+$30.5M |
| 3 |
Webster Financial
WBS
|
+$28.5M |
| 4 |
TPH
Tri Pointe Homes
TPH
|
+$21.8M |
| 5 |
GLDD
Great Lakes Dredge & Dock
GLDD
|
+$20.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CYBR
CyberArk
CYBR
|
+$38.7M |
| 2 |
EXAS
Exact Sciences
EXAS
|
+$35.5M |
| 3 |
CMA
Comerica
CMA
|
+$34.6M |
| 4 |
CDTX
Cidara Therapeutics
CDTX
|
+$33.3M |
| 5 |
AVDL
Avadel Pharmaceuticals
AVDL
|
+$23.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 21.63% |
| 2 | Industrials | 13.96% |
| 3 | Financials | 13.19% |
| 4 | Communication Services | 10.82% |
| 5 | Real Estate | 5.99% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
CNTA
51
DELISTED
Centessa Pharmaceuticals
CNTA
| $1.63M | 0.18% |
+41,000
| New | +$1.05M |
|
|
CNTA
52
PUT
DELISTED
Centessa Pharmaceuticals
CNTA
| $1.63M | 0.18% |
+41,000
| New | +$1.05M |
|
|
CSGS
53
DELISTED
CSG Systems International
CSGS
| $1.62M | 0.18% |
20,223
-130,497
| -87% | -$10.4M |
|
|
SEMR
54
DELISTED
Semrush
SEMR
| $1.6M | 0.18% |
133,872
-494,730
| -79% | -$5.88M |
|
|
FOLD
55
DELISTED
Amicus Therapeutics
FOLD
| $1.5M | 0.17% |
104,066
-602,551
| -85% | -$8.64M |
|
56
Boeing
BA
$165B
| $1.44M | 0.16% |
+7,234
| New | +$1.65M |
|
|
STKL
57
DELISTED
SunOpta
STKL
| $1.27M | 0.14% |
+196,514
| New | +$1.11M |
|
|
PRA
58
DELISTED
ProAssurance
PRA
| $1.26M | 0.14% |
51,103
+4,111
| +9% | +$100K |
|
|
CTLP
59
DELISTED
Cantaloupe
CTLP
| $1.17M | 0.13% |
107,867
-23,927
| -18% | -$253K |
|
60
Clear Channel Outdoor Holdings
CCO
$1.23B
| $1.13M | 0.13% |
+478,517
| New | +$1.08M |
|
61
IHS Holding
IHS
$2.77B
| $1.13M | 0.13% |
+137,615
| New | +$1.1M |
|
62
Talkspace
TALK
$873M
| $1.12M | 0.12% |
+216,158
| New | +$956K |
|
|
MCW
63
DELISTED
Mister Car Wash
MCW
| $1.09M | 0.12% |
+156,502
| New | +$1M |
|
64
Dick's Sporting Goods
DKS
$18.3B
| $1.06M | 0.12% |
5,348
+4,248
| +386% | +$862K |
|
|
CTRA
65
DELISTED
Coterra Energy
CTRA
| $959K | 0.11% |
+27,292
| New | +$820K |
|
66
SkyWater Technology
SKYT
$1.51B
| $947K | 0.11% |
+34,536
| New | +$1.02M |
|
67
NorthWestern Energy
NWE
$4.46B
| $912K | 0.1% |
13,838
-469
| -3% | -$31.8K |
|
68
Amneal Pharmaceuticals
AMRX
$5.74B
| $850K | 0.09% |
+68,400
| New | +$918K |
|
69
Caesars Entertainment
CZR
$6.09B
| $780K | 0.09% |
+29,500
| New | +$702K |
|
|
UDMY
70
DELISTED
Udemy
UDMY
| $644K | 0.07% |
139,335
+3,413
| +3% | +$16.8K |
|
71
Estee Lauder
EL
$28.9B
| $538K | 0.06% |
+7,500
| New | +$766K |
|
72
PENN Entertainment
PENN
$2.71B
| $526K | 0.06% |
+35,000
| New | +$487K |
|
|
CVGW
73
DELISTED
Calavo Growers
CVGW
| $524K | 0.06% |
+20,321
| New | +$509K |
|
74
International Money Express
IMXI
$401M
| $523K | 0.06% |
33,122
-55,354
| -63% | -$865K |
|
75
Nathan's Famous
NATH
$402M
| $503K | 0.06% |
+4,994
| New | +$495K |
|
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Water Island Capital's Q1 2026 Portfolio in Review
As of Q1 2026, Water Island Capital held 145 positions worth $896M, down 3.4% from $928M the previous quarter. Its ten largest holdings account for 45% of the portfolio.
Water Island Capital withdrew a net $101M in Q1 2026, closing 47 positions and reducing 9 holdings. Its most notable exit was CyberArk, an estimated $38.7M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 22% of assets, up from 18% a quarter earlier, followed by Industrials and Financials.
Against the trend, Water Island Capital opened a new position in Penumbra worth $39.4M.
- Water Island Capital's largest Q1 2026 buy was Penumbra: 120,095 shares worth $39.4M.
- Water Island Capital added most to Electronic Arts in Q1 2026, an estimated $13.9M increase.
- Water Island Capital's biggest Q1 2026 reduction was Sealed Air, cutting an estimated $21.1M.
- Water Island Capital fully exited CyberArk in Q1 2026, selling an estimated $38.7M.
- Water Island Capital's ten largest holdings make up 45% of its $896M portfolio in Q1 2026.
- Water Island Capital opened 59 new positions and closed 47 in Q1 2026.
- Water Island Capital's portfolio value fell 3.4% quarter-over-quarter to $896M.
Based on Water Island Capital's 13F filing for Q1 2026, filed 15 May 2026.