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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
+24.89%
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
$928M
AUM Growth
+$134M
Cap. Flow
+$30.9M
Cap. Flow %
3.33%
Top 10 Hldgs %
38.46%
Holding
139
New
56
Increased
10
Reduced
10
Closed
48

Top Buys

Rank Stock Value
1
HOLX
Hologic
HOLX
+$34.2M
2
CMA
Comerica
CMA
+$32M
3
JHG
Janus Henderson
JHG
+$28.6M
4
EXAS
Exact Sciences
EXAS
+$28.1M
5
WBD icon
Warner Bros
WBD
+$26.6M

Top Sells

Rank Stock Value
1
VRNA
Verona Pharma
VRNA
+$31M
2
AVDX
AvidXchange
AVDX
+$28.7M
3
INFA
Informatica
INFA
+$28.6M
4
VBTX
Veritex Holdings
VBTX
+$27.4M
5
VRNT
Verint Systems
VRNT
+$24.4M

Sector Composition

Rank Sector Weight
1 Healthcare 18.15%
2 Financials 15.95%
3 Technology 13.61%
4 Industrials 11.84%
5 Communication Services 10.51%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FSFG
76
DELISTED
First Savings Financial Group
FSFG
$280K 0.03%
+8,788
New +$273K
DKS icon
77
Dick's Sporting Goods
DKS
$18.7B
$218K 0.02%
+1,100
New +$240K
AMWD
78
DELISTED
American Woodmark
AMWD
– –
-18,336
Closed -$1.22M
AURA icon
79
Aura Biosciences
AURA
$826M
– –
-10,372
Closed -$64.1K
AVDX
80
DELISTED
AvidXchange
AVDX
– –
-2,882,867
Closed -$28.7M
BRY
81
DELISTED
Berry Corp
BRY
– –
-142,979
Closed -$540K
CCRD
82
DELISTED
CoreCard
CCRD
– –
-16,595
Closed -$447K
CCRN
83
DELISTED
Cross Country Healthcare
CCRN
– –
-42,897
Closed -$609K
COMP icon
84
CALL
Compass
COMP
$9.66B
– –
-655,600
Closed -$5.26M
CORZ icon
85
Core Scientific
CORZ
$6.75B
– –
-785,446
Closed -$13.7M
CORZ icon
86
PUT
Core Scientific
CORZ
$6.75B
– –
-1,042,000
Closed -$18.7M
CVAC
87
DELISTED
CureVac
CVAC
– –
-762,138
Closed -$4.11M
ETNB
88
CALL
DELISTED
89bio
ETNB
– –
-493,500
Closed -$7.25M
HBI
89
DELISTED
Hanesbrands
HBI
– –
-2,264,676
Closed -$14.9M
HONE
90
DELISTED
HarborOne Bancorp
HONE
– –
-22,464
Closed -$306K
IAS
91
DELISTED
Integral Ad Science
IAS
– –
-1,071,160
Closed -$10.9M
INFA
92
DELISTED
Informatica
INFA
– –
-1,149,598
Closed -$28.6M
IPG
93
DELISTED
Interpublic Group of Companies
IPG
– –
-63,104
Closed -$1.76M
K
94
CALL
DELISTED
Kellanova
K
– –
-108,800
Closed -$8.92M
LBRDK icon
95
Liberty Broadband Class C
LBRDK
$5.15B
– –
-35,810
Closed -$2.28M
LYV icon
96
CALL
Live Nation Entertainment
LYV
$42.1B
– –
-7,500
Closed -$1.23M
MGRC icon
97
McGrath RentCorp
MGRC
$2.92B
– –
-99,363
Closed -$11.6M
MLNK
98
DELISTED
MeridianLink
MLNK
– –
-930,234
Closed -$18.5M
MRC
99
DELISTED
MRC Global
MRC
– –
-58,605
Closed -$845K
MRUS
100
DELISTED
Merus
MRUS
– –
-96,000
Closed -$9.04M
1 2 3
4
5

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WP
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BFFIM
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SFM
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Water Island Capital's Q4 2025 Portfolio in Review

As of Q4 2025, Water Island Capital held 139 positions worth $928M, up 17% from $793M the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Water Island Capital deployed $30.9M of net new capital in Q4 2025, opening 56 new positions and adding to 10 existing holdings. Its largest new stake was Hologic: 467,742 shares worth $34.8M.

By sector, the portfolio is most concentrated in Healthcare at 18% of assets, up from 9.5% a quarter earlier, followed by Financials and Technology.

On the sell side, the largest reduction was STAAR Surgical, an estimated $15.2M trimmed.

  • Water Island Capital's largest Q4 2025 buy was Hologic: 467,742 shares worth $34.8M.
  • Water Island Capital added most to Electronic Arts in Q4 2025, an estimated $18.6M increase.
  • Water Island Capital's biggest Q4 2025 reduction was STAAR Surgical, cutting an estimated $15.2M.
  • Water Island Capital fully exited Verona Pharma in Q4 2025, selling an estimated $31M.
  • Water Island Capital's ten largest holdings make up 38% of its $928M portfolio in Q4 2025.
  • Water Island Capital opened 56 new positions and closed 48 in Q4 2025.
  • Water Island Capital's portfolio value rose 17% quarter-over-quarter to $928M.

Based on Water Island Capital's 13F filing for Q4 2025, filed 17 Feb 2026.