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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
+17.25%
1 Year Est. Return
+107.59%
3 Year Est. Return
+414.38%
5 Year Est. Return
+1,508.69%
10 Year Est. Return
+23,520.55%
AUM
$896M
AUM Growth
-$32M
Cap. Flow
-$101M
Cap. Flow %
-11.23%
Top 10 Hldgs %
45.42%
Holding
145
New
59
Increased
21
Reduced
9
Closed
47

Top Buys

Rank Stock Value
1
PEN icon
Penumbra
PEN
+$40.7M
2
MASI
Masimo
MASI
+$30.5M
3
WBS icon
Webster Financial
WBS
+$28.5M
4
TPH
Tri Pointe Homes
TPH
+$21.8M
5
GLDD
Great Lakes Dredge & Dock
GLDD
+$20.1M

Top Sells

Rank Stock Value
1
CYBR
CyberArk
CYBR
+$38.7M
2
EXAS
Exact Sciences
EXAS
+$35.5M
3
CMA
Comerica
CMA
+$34.6M
4
CDTX
Cidara Therapeutics
CDTX
+$33.3M
5
AVDL
Avadel Pharmaceuticals
AVDL
+$23.4M

Sector Composition

Rank Sector Weight
1 Healthcare 21.63%
2 Industrials 13.96%
3 Financials 13.19%
4 Communication Services 10.82%
5 Real Estate 5.99%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DENN
101
DELISTED
Denny's
DENN
– –
-213,445
Closed -$1.33M
DVAX
102
DELISTED
Dynavax Technologies
DVAX
– –
-610,261
Closed -$9.39M
EB
103
DELISTED
Eventbrite
EB
– –
-987,653
Closed -$4.4M
EXAS
104
DELISTED
Exact Sciences
EXAS
– –
-350,009
Closed -$35.5M
FOLD
105
CALL
DELISTED
Amicus Therapeutics
FOLD
– –
-451,000
Closed -$6.42M
FRGE
106
DELISTED
Forge Global Holdings
FRGE
– –
-197,075
Closed -$8.78M
FSFG
107
DELISTED
First Savings Financial Group
FSFG
– –
-8,788
Closed -$280K
HI
108
DELISTED
Hillenbrand
HI
– –
-399,006
Closed -$12.7M
HI
109
PUT
DELISTED
Hillenbrand
HI
– –
-315,000
Closed -$9.99M
HOLX
110
PUT
DELISTED
Hologic
HOLX
– –
-60,600
Closed -$4.51M
HOUS
111
CALL
DELISTED
Anywhere Real Estate
HOUS
– –
-71,100
Closed -$1.01M
HOUS
112
DELISTED
Anywhere Real Estate
HOUS
– –
-444,821
Closed -$6.3M
HOUS
113
PUT
DELISTED
Anywhere Real Estate
HOUS
– –
-71,100
Closed -$1.01M
JAMF
114
DELISTED
Jamf
JAMF
– –
-985,069
Closed -$12.8M
KMB icon
115
CALL
Kimberly-Clark
KMB
$35.6B
– –
-42,200
Closed -$4.26M
KVUE icon
116
CALL
Kenvue
KVUE
$36.3B
– –
-118,400
Closed -$2.04M
MOFG
117
DELISTED
MidWestOne Financial Group
MOFG
– –
-21,980
Closed -$846K
NGD
118
DELISTED
New Gold Inc
NGD
– –
-226,878
Closed -$1.98M
PLYM
119
DELISTED
Plymouth Industrial REIT
PLYM
– –
-559,215
Closed -$12.2M
QRVO icon
120
Qorvo
QRVO
$7.65B
– –
-109,521
Closed -$9.26M
REVG
121
DELISTED
REV Group
REVG
– –
-31,261
Closed -$1.9M
RNAM
122
DELISTED
Avidity Biosciences
RNAM
– –
-168,385
Closed -$12.1M
RNAM
123
PUT
DELISTED
Avidity Biosciences
RNAM
– –
-168,700
Closed -$12.2M
SHCO
124
DELISTED
Soho House & Co
SHCO
– –
-70,756
Closed -$634K
SNV
125
DELISTED
Synovus
SNV
– –
-403,650
Closed -$20.2M
2 3 4
5
6

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FTM
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BFFIM
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Water Island Capital's Q1 2026 Portfolio in Review

As of Q1 2026, Water Island Capital held 145 positions worth $896M, down 3.4% from $928M the previous quarter. Its ten largest holdings account for 45% of the portfolio.

Water Island Capital withdrew a net $101M in Q1 2026, closing 47 positions and reducing 9 holdings. Its most notable exit was CyberArk, an estimated $38.7M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 22% of assets, up from 18% a quarter earlier, followed by Industrials and Financials.

Against the trend, Water Island Capital opened a new position in Penumbra worth $39.4M.

  • Water Island Capital's largest Q1 2026 buy was Penumbra: 120,095 shares worth $39.4M.
  • Water Island Capital added most to Electronic Arts in Q1 2026, an estimated $13.9M increase.
  • Water Island Capital's biggest Q1 2026 reduction was Sealed Air, cutting an estimated $21.1M.
  • Water Island Capital fully exited CyberArk in Q1 2026, selling an estimated $38.7M.
  • Water Island Capital's ten largest holdings make up 45% of its $896M portfolio in Q1 2026.
  • Water Island Capital opened 59 new positions and closed 47 in Q1 2026.
  • Water Island Capital's portfolio value fell 3.4% quarter-over-quarter to $896M.

Based on Water Island Capital's 13F filing for Q1 2026, filed 15 May 2026.