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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
JWN
76
PUT
DELISTED
Nordstrom
JWN
– –
-405,600
Closed -$9.92M
LBRDK icon
77
Liberty Broadband Class C
LBRDK
$5.15B
– –
-37,634
Closed -$3.2M
OMC icon
78
CALL
Omnicom Group
OMC
$23.4B
– –
-76,700
Closed -$6.36M
PLYA
79
DELISTED
Playa Hotels & Resorts
PLYA
– –
-1,584,486
Closed -$21.1M
RDFN
80
DELISTED
Redfin
RDFN
– –
-848,500
Closed -$7.81M
RKT icon
81
CALL
Rocket Companies
RKT
$38.9B
– –
-672,500
Closed -$8.12M
SPR
82
DELISTED
Spirit AeroSystems
SPR
– –
-31,957
Closed -$1.1M
SPY icon
83
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$823B
– –
-25,000
Closed -$14M
SRDX
84
DELISTED
Surmodics
SRDX
– –
-18,132
Closed -$554K
TSVT
85
DELISTED
2seventy bio
TSVT
– –
-104,006
Closed -$514K
X
86
CALL
DELISTED
US Steel
X
– –
-531,400
Closed -$22.5M
X
87
DELISTED
US Steel
X
– –
-53,989
Closed -$2.28M
XRX icon
88
CALL
Xerox
XRX
$425M
– –
-20,000
Closed -$96.6K
BERY
89
DELISTED
Berry Global Group, Inc.
BERY
– –
-61,220
Closed -$4.27M
BECN
90
DELISTED
Beacon Roofing Supply, Inc.
BECN
– –
-270,509
Closed -$33.5M
ENFN
91
DELISTED
Enfusion, Inc.
ENFN
– –
-424,031
Closed -$4.73M
FNA
92
DELISTED
Paragon 28, Inc.
FNA
– –
-358,000
Closed -$4.68M
CMRX
93
DELISTED
Chimerix, Inc.
CMRX
– –
-1,069,051
Closed -$9.1M
PDCO
94
DELISTED
Patterson Companies, Inc.
PDCO
– –
-221,575
Closed -$6.92M
AMPS
95
DELISTED
Altus Power
AMPS
– –
-275,084
Closed -$1.36M
PYCR
96
DELISTED
Paycor HCM, Inc. Common Stock
PYCR
– –
-754,606
Closed -$16.9M
PYCR
97
PUT
DELISTED
Paycor HCM, Inc. Common Stock
PYCR
– –
-80,900
Closed -$1.82M
ATSG
98
DELISTED
Air Transport Services Group
ATSG
– –
-110,519
Closed -$2.48M
ACCD
99
DELISTED
Accolade Inc
ACCD
– –
-195,155
Closed -$1.36M
LGTY
100
DELISTED
Logility Supply Chain Solutions, Inc. Common Stock
LGTY
– –
-53,998
Closed -$770K
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.