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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
+17.14%
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
$702M
AUM Growth
-$62.1M
Cap. Flow
-$147M
Cap. Flow %
-20.88%
Top 10 Hldgs %
47.84%
Holding
119
New
36
Increased
13
Reduced
7
Closed
43

Top Buys

Rank Stock Value
1
SWTX
SpringWorks Therapeutics
SWTX
+$31.3M
2
SKX
Skechers
SKX
+$24.5M
3
AVDX
AvidXchange
AVDX
+$17.7M
4
INFA
Informatica
INFA
+$16.6M
5
DNB
Dun & Bradstreet
DNB
+$15.3M

Top Sells

Rank Stock Value
1
HEES
H&E Equipment Services
HEES
+$40.9M
2
K
Kellanova
K
+$35.8M
3
EVRI
Everi Holdings
EVRI
+$34.9M
4
BECN
Beacon Roofing Supply, Inc.
BECN
+$33.5M
5
PLYA
Playa Hotels & Resorts
PLYA
+$21.1M

Sector Composition

Rank Sector Weight
1 Technology 23.19%
2 Healthcare 17.42%
3 Financials 10.46%
4 Consumer Discretionary 6.55%
5 Energy 6.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MTAL
51
DELISTED
Metals Acquisition
MTAL
$806K 0.11%
+66,668
New +$689K
BRDG
52
DELISTED
Bridge Investment Group
BRDG
$804K 0.11%
80,349
-428,937
-84% -$4M
CCRN
53
DELISTED
Cross Country Healthcare
CCRN
$774K 0.11%
59,337
-166,950
-74% -$2.29M
GB
54
DELISTED
Global Blue Group Holding
GB
$693K 0.1%
92,725
+5,264
+6% +$39.1K
RKT icon
55
Rocket Companies
RKT
$38.9B
$657K 0.09%
46,367
– –
EVRI
56
PUT
DELISTED
Everi Holdings
EVRI
$598K 0.09%
+42,000
New +$587K
BNTX icon
57
CALL
BioNTech
BNTX
$23.5B
$511K 0.07%
+4,800
New +$485K
DAN icon
58
PUT
Dana Inc
DAN
$3.06B
$429K 0.06%
+25,000
New +$373K
HRI icon
59
Herc Holdings
HRI
$5.61B
$343K 0.05%
+2,605
New +$316K
SSBK
60
DELISTED
Southern States Bancshares
SSBK
$262K 0.04%
+7,204
New +$247K
PVBC
61
DELISTED
Provident Bancorp
PVBC
$232K 0.03%
+18,573
New +$211K
HONE
62
DELISTED
HarborOne Bancorp
HONE
$230K 0.03%
+19,716
New +$216K
SGRY icon
63
CALL
Surgery Partners
SGRY
$2.03B
$222K 0.03%
10,000
– –
AGS
64
DELISTED
PlayAGS
AGS
– –
-98,269
Closed -$1.19M
ALE
65
DELISTED
Allete
ALE
– –
-36,155
Closed -$2.38M
AMCR icon
66
CALL
Amcor
AMCR
$22.1B
– –
-188,500
Closed -$9.14M
BLCO icon
67
CALL
Bausch + Lomb
BLCO
$5.99B
– –
-16,600
Closed -$241K
CHX
68
DELISTED
ChampionX
CHX
– –
-10,800
Closed -$322K
CWAN
69
PUT
DELISTED
Clearwater Analytics
CWAN
– –
-31,800
Closed -$852K
DESP
70
CALL
DELISTED
Despegar.com
DESP
– –
-299,300
Closed -$5.62M
EVRI
71
DELISTED
Everi Holdings
EVRI
– –
-2,499,273
Closed -$34.9M
HEES
72
DELISTED
H&E Equipment Services
HEES
– –
-431,648
Closed -$40.9M
HEES
73
PUT
DELISTED
H&E Equipment Services
HEES
– –
-231,400
Closed -$21.9M
HRI icon
74
CALL
Herc Holdings
HRI
$5.61B
– –
-25,800
Closed -$3.46M
JWN
75
DELISTED
Nordstrom
JWN
– –
-514,943
Closed -$12.6M
1 2
3
4 5

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Water Island Capital's Q2 2025 Portfolio in Review

As of Q2 2025, Water Island Capital held 119 positions worth $702M, down 8.1% from $764M the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Water Island Capital withdrew a net $147M in Q2 2025, closing 43 positions and reducing 7 holdings. Its most notable exit was H&E Equipment Services, an estimated $40.9M position sold in full.

By sector, the portfolio is most concentrated in Technology at 23% of assets, up from 12% a quarter earlier, followed by Healthcare and Financials.

Against the trend, Water Island Capital opened a new position in SpringWorks Therapeutics worth $33.1M.

  • Water Island Capital's largest Q2 2025 buy was SpringWorks Therapeutics: 703,525 shares worth $33.1M.
  • Water Island Capital added most to Dun & Bradstreet in Q2 2025, an estimated $15.3M increase.
  • Water Island Capital's biggest Q2 2025 reduction was Kellanova, cutting an estimated $35.8M.
  • Water Island Capital fully exited H&E Equipment Services in Q2 2025, selling an estimated $40.9M.
  • Water Island Capital's ten largest holdings make up 48% of its $702M portfolio in Q2 2025.
  • Water Island Capital opened 36 new positions and closed 43 in Q2 2025.
  • Water Island Capital's portfolio value fell 8.1% quarter-over-quarter to $702M.

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