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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
+1,508.69%
10 Year Est. Return
+23,520.55%
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
AMED
1
DELISTED
Amedisys
AMED
$54.8M 5.92%
603,565
+1,950
+0.3% +$179K
HES
2
DELISTED
Hess
HES
$54.5M 5.89%
409,761
-11,641
-3% -$1.63M
K
3
DELISTED
Kellanova
K
$52.2M 5.64%
645,072
+25,288
+4% +$2.04M
HCP
4
DELISTED
HashiCorp, Inc. Class A Common Stock
HCP
$44M 4.75%
1,284,797
+18,687
+1% +$633K
EDR
5
DELISTED
Endeavor Group Holdings, Inc.
EDR
$42.1M 4.55%
1,346,226
+19,565
+1% +$583K
ANSS
6
DELISTED
Ansys
ANSS
$39.8M 4.3%
117,899
+3,811
+3% +$1.28M
EVRI
7
DELISTED
Everi Holdings
EVRI
$39.5M 4.27%
2,924,921
+370,704
+15% +$4.96M
ACI icon
8
Albertsons Companies
ACI
$5.58B
$36.6M 3.95%
1,862,712
-84,190
-4% -$1.6M
JNPR
9
DELISTED
Juniper Networks
JNPR
$35.9M 3.87%
957,573
+94,212
+11% +$3.56M
SLB icon
10
CALL
SLB Ltd
SLB
$76.3B
$31.3M 3.38%
+817,200
New +$34.3M
SMAR
11
DELISTED
Smartsheet Inc.
SMAR
$31.1M 3.36%
555,904
+272,426
+96% +$15.2M
CHX
12
DELISTED
ChampionX
CHX
$30.4M 3.28%
1,116,624
-21,857
-2% -$650K
FYBR
13
DELISTED
Frontier Communications
FYBR
$26.4M 2.85%
760,304
+348,026
+84% +$12.2M
ZUO
14
DELISTED
Zuora, Inc.
ZUO
$24M 2.6%
+2,422,511
New +$23.5M
ROIC
15
DELISTED
Retail Opportunity Investments Corp.
ROIC
$22.8M 2.46%
+1,311,468
New +$21.9M
X
16
DELISTED
US Steel
X
$20M 2.16%
588,117
-295,863
-33% -$10.9M
CDMO
17
DELISTED
Avid Bioservices, Inc. Common Stock
CDMO
$19.7M 2.13%
+1,596,339
New +$18.3M
SUM
18
DELISTED
Summit Materials, Inc. Class A Common Stock
SUM
$19.5M 2.1%
+384,888
New +$18M
MGRC icon
19
McGrath RentCorp
MGRC
$2.97B
$19M 2.06%
170,210
-84,426
-33% -$9.69M
PARA
20
DELISTED
Paramount Global Class B
PARA
$15.8M 1.71%
1,511,267
+11,885
+0.8% +$128K
ALTR
21
DELISTED
Altair Engineering Inc
ALTR
$15.8M 1.7%
+144,509
New +$14.9M
SPY icon
22
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$779B
$14.7M 1.58%
+25,000
New +$14.7M
ESGR
23
DELISTED
Enstar Group
ESGR
$14.3M 1.54%
44,327
+5,478
+14% +$1.77M
ALTM
24
DELISTED
Arcadium Lithium plc
ALTM
$14.2M 1.54%
+2,772,693
New +$14.2M
MTTR
25
DELISTED
Matterport, Inc. Class A Common Stock
MTTR
$12.7M 1.37%
2,683,458
+53,177
+2% +$252K
1
2 3 4

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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.