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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
CNSL
76
DELISTED
Consolidated Communications Holdings, Inc.
CNSL
– –
-87,950
Closed -$408K
AGR
77
DELISTED
Avangrid, Inc.
AGR
– –
-17,391
Closed -$622K
CTLT
78
DELISTED
CATALENT, INC.
CTLT
– –
-567,174
Closed -$34.4M
AY
79
DELISTED
Atlantica Sustainable Infrastructure plc Ordinary Shares
AY
– –
-172,225
Closed -$3.79M
MRO
80
DELISTED
Marathon Oil Corporation
MRO
– –
-1,628,880
Closed -$43.4M
HAYN
81
DELISTED
Haynes International, Inc.
HAYN
– –
-15,018
Closed -$894K
RCM
82
DELISTED
R1 RCM Inc. Common Stock
RCM
– –
-2,034,317
Closed -$28.8M
AXNX
83
DELISTED
Axonics, Inc. Common Stock
AXNX
– –
-691,839
Closed -$48.2M
NVEI
84
DELISTED
Nuvei Corporation Subordinate Voting Shares
NVEI
– –
-49,942
Closed -$1.67M
TWKS
85
DELISTED
Thoughtworks Holding, Inc. Common Stock
TWKS
– –
-2,189,000
Closed -$9.68M
INST
86
DELISTED
Instructure Holdings, Inc.
INST
– –
-848,233
Closed -$20M
SRCL
87
DELISTED
Stericycle Inc
SRCL
– –
-94,103
Closed -$5.74M
ITI
88
DELISTED
Iteris, Inc.
ITI
– –
-56,047
Closed -$400K
STER
89
DELISTED
Sterling Check Corp. Common Stock
STER
– –
-22,385
Closed -$374K
PETQ
90
DELISTED
PetIQ, Inc. Class A Common Stock
PETQ
– –
-616,601
Closed -$19M
SQSP
91
DELISTED
Squarespace, Inc.
SQSP
– –
-995,185
Closed -$46.2M
CHUY
92
DELISTED
Chuy's Holdings, Inc. Common Stock
CHUY
– –
-287,800
Closed -$10.8M
VGR
93
DELISTED
Vector Group Ltd.
VGR
– –
-750,814
Closed -$11.2M
AAN
94
DELISTED
The Aaron's Company Inc
AAN
– –
-74,030
Closed -$737K
PRFT
95
DELISTED
Perficient Inc
PRFT
– –
-105,087
Closed -$7.93M
PWSC
96
DELISTED
PowerSchool Holdings, Inc.
PWSC
– –
-50,893
Closed -$1.16M
SWN
97
DELISTED
Southwestern Energy Company
SWN
– –
-205,022
Closed -$1.46M
VZIO
98
DELISTED
VIZIO Holding Corp.
VZIO
– –
-3,353,047
Closed -$37.5M
ENV
99
DELISTED
ENVESTNET, INC.
ENV
– –
-39,845
Closed -$2.5M
1 2 3
4

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WP
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BFFIM
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SFM
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BWP
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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.