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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
+16.28%
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
$764M
AUM Growth
-$162M
(-17%)
Cap. Flow
-$215M
Cap. Flow
% of AUM
-28.2%
Top 10 Holdings %
Top 10 Hldgs %
49.18%
Holding
115
New
37
Increased
9
Reduced
20
Closed
31
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
HEES
H&E Equipment Services
HEES
|
+$37.6M |
| 2 |
BECN
Beacon Roofing Supply, Inc.
BECN
|
+$31.5M |
| 3 |
PLYA
Playa Hotels & Resorts
PLYA
|
+$20.6M |
| 4 |
PYCR
Paycor HCM, Inc. Common Stock
PYCR
|
+$16.7M |
| 5 |
DNB
Dun & Bradstreet
DNB
|
+$14.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HCP
HashiCorp, Inc. Class A Common Stock
HCP
|
+$44M |
| 2 |
EDR
Endeavor Group Holdings, Inc.
EDR
|
+$42.1M |
| 3 |
Albertsons Companies
ACI
|
+$36.6M |
| 4 |
CHX
ChampionX
CHX
|
+$32.3M |
| 5 |
SMAR
Smartsheet Inc.
SMAR
|
+$31.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 13.91% |
| 2 | Technology | 11.9% |
| 3 | Healthcare | 11.37% |
| 4 | Consumer Discretionary | 9.34% |
| 5 | Financials | 6.42% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
PYCR
51
PUT
DELISTED
Paycor HCM, Inc. Common Stock
PYCR
| $1.82M | 0.24% |
+80,900
| New | +$1.79M |
|
|
ACCD
52
DELISTED
Accolade Inc
ACCD
| $1.36M | 0.18% |
+195,155
| New | +$1.31M |
|
|
AMPS
53
DELISTED
Altus Power
AMPS
| $1.36M | 0.18% |
+275,084
| New | +$1.25M |
|
|
RDUS
54
DELISTED
Radius Recycling
RDUS
| $1.35M | 0.18% |
+46,751
| New | +$754K |
|
|
AGS
55
DELISTED
PlayAGS
AGS
| $1.19M | 0.16% |
98,269
+8,025
| +9% | +$96.3K |
|
|
SPR
56
DELISTED
Spirit AeroSystems
SPR
| $1.1M | 0.14% |
31,957
+24,070
| +305% | +$822K |
|
|
IPG
57
DELISTED
Interpublic Group of Companies
IPG
| $863K | 0.11% |
31,775
-217,482
| -87% | -$5.97M |
|
|
CWAN
58
PUT
DELISTED
Clearwater Analytics
CWAN
| $852K | 0.11% |
+31,800
| New | +$893K |
|
|
LGTY
59
DELISTED
Logility Supply Chain Solutions, Inc. Common Stock
LGTY
| $770K | 0.1% |
+53,998
| New | +$722K |
|
|
FBMS
60
DELISTED
The First Bancshares, Inc.
FBMS
| $725K | 0.09% |
21,434
-12,911
| -38% | -$461K |
|
|
NVRO
61
DELISTED
NEVRO CORP.
NVRO
| $682K | 0.09% |
+116,721
| New | +$615K |
|
|
GB
62
DELISTED
Global Blue Group Holding
GB
| $644K | 0.08% |
+87,461
| New | +$632K |
|
|
BRKL
63
DELISTED
Brookline Bancorp
BRKL
| $585K | 0.08% |
53,655
-6,932
| -11% | -$80.7K |
|
64
Rocket Companies
RKT
$38.9B
| $560K | 0.07% |
+46,367
| New | +$598K |
|
|
SRDX
65
DELISTED
Surmodics
SRDX
| $554K | 0.07% |
+18,132
| New | +$610K |
|
|
TSVT
66
DELISTED
2seventy bio
TSVT
| $514K | 0.07% |
+104,006
| New | +$330K |
|
|
CHX
67
DELISTED
ChampionX
CHX
| $322K | 0.04% |
10,800
-1,105,824
| -99% | -$32.3M |
|
68
CALL
Bausch + Lomb
BLCO
$5.99B
| $241K | 0.03% |
16,600
-14,600
| -47% | -$240K |
|
69
CALL
Surgery Partners
SGRY
$2.03B
| $238K | 0.03% |
10,000
-11,000
| -52% | -$260K |
|
70
CALL
Xerox
XRX
$425M
| $96.6K | 0.01% |
20,000
| – | – |
|
|
71
Albertsons Companies
ACI
$5.83B
| – | – |
-1,862,712
| Closed | -$36.6M |
|
72
PUT
Boeing
BA
$185B
| – | – |
-10,000
| Closed | -$1.77M |
|
73
Bally's
BALY
$658M
| – | – |
-32,372
| Closed | -$579K |
|
74
CALL
CoStar Group
CSGP
$12.3B
| – | – |
-80,700
| Closed | -$5.78M |
|
|
DFS
75
DELISTED
Discover Financial Services
DFS
| – | – |
-8,558
| Closed | -$1.48M |
|
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BFFIM
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Water Island Capital's Q1 2025 Portfolio in Review
As of Q1 2025, Water Island Capital held 115 positions worth $764M, down 17% from $926M the previous quarter. Its ten largest holdings account for 49% of the portfolio.
Water Island Capital withdrew a net $215M in Q1 2025, closing 31 positions and reducing 20 holdings. Its most notable exit was HashiCorp, Inc. Class A Common Stock, an estimated $44M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 14% of assets, up from 3.3% a quarter earlier, followed by Technology and Healthcare.
Against the trend, Water Island Capital opened a new position in H&E Equipment Services worth $40.9M.
- Water Island Capital's largest Q1 2025 buy was H&E Equipment Services: 431,648 shares worth $40.9M.
- Water Island Capital added most to Enstar Group in Q1 2025, an estimated $4.38M increase.
- Water Island Capital's biggest Q1 2025 reduction was ChampionX, cutting an estimated $32.3M.
- Water Island Capital fully exited HashiCorp, Inc. Class A Common Stock in Q1 2025, selling an estimated $44M.
- Water Island Capital's ten largest holdings make up 49% of its $764M portfolio in Q1 2025.
- Water Island Capital opened 37 new positions and closed 31 in Q1 2025.
- Water Island Capital's portfolio value fell 17% quarter-over-quarter to $764M.
Based on Water Island Capital's 13F filing for Q1 2025, filed 15 May 2025.