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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
+16.28%
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
$764M
AUM Growth
-$162M
(-17%)
Cap. Flow
-$215M
Cap. Flow
% of AUM
-28.2%
Top 10 Holdings %
Top 10 Hldgs %
49.18%
Holding
115
New
37
Increased
9
Reduced
20
Closed
31
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
HEES
H&E Equipment Services
HEES
|
+$37.6M |
| 2 |
BECN
Beacon Roofing Supply, Inc.
BECN
|
+$31.5M |
| 3 |
PLYA
Playa Hotels & Resorts
PLYA
|
+$20.6M |
| 4 |
PYCR
Paycor HCM, Inc. Common Stock
PYCR
|
+$16.7M |
| 5 |
DNB
Dun & Bradstreet
DNB
|
+$14.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HCP
HashiCorp, Inc. Class A Common Stock
HCP
|
+$44M |
| 2 |
EDR
Endeavor Group Holdings, Inc.
EDR
|
+$42.1M |
| 3 |
Albertsons Companies
ACI
|
+$36.6M |
| 4 |
CHX
ChampionX
CHX
|
+$32.3M |
| 5 |
SMAR
Smartsheet Inc.
SMAR
|
+$31.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 13.91% |
| 2 | Technology | 11.9% |
| 3 | Healthcare | 11.37% |
| 4 | Consumer Discretionary | 9.34% |
| 5 | Financials | 6.42% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
AMED
1
DELISTED
Amedisys
AMED
| $51.7M | 6.77% |
558,414
-45,151
| -7% | -$4.16M |
|
2
CALL
Chevron
CVX
$374B
| $46.9M | 6.14% |
+280,300
| New | +$43.9M |
|
|
HES
3
DELISTED
Hess
HES
| $41.4M | 5.41% |
258,907
-150,854
| -37% | -$22.2M |
|
|
HEES
4
DELISTED
H&E Equipment Services
HEES
| $40.9M | 5.35% |
+431,648
| New | +$37.6M |
|
|
K
5
DELISTED
Kellanova
K
| $40.5M | 5.3% |
491,241
-153,831
| -24% | -$12.6M |
|
|
EVRI
6
DELISTED
Everi Holdings
EVRI
| $34.2M | 4.47% |
2,499,273
-425,648
| -15% | -$5.81M |
|
|
BECN
7
DELISTED
Beacon Roofing Supply, Inc.
BECN
| $33.5M | 4.38% |
+270,509
| New | +$31.5M |
|
|
ANSS
8
DELISTED
Ansys
ANSS
| $32.8M | 4.29% |
103,480
-14,419
| -12% | -$4.84M |
|
|
JNPR
9
DELISTED
Juniper Networks
JNPR
| $31.6M | 4.13% |
871,961
-85,612
| -9% | -$3.13M |
|
|
X
10
CALL
DELISTED
US Steel
X
| $22.5M | 2.94% |
+531,400
| New | +$20.1M |
|
|
HEES
11
PUT
DELISTED
H&E Equipment Services
HEES
| $21.9M | 2.87% |
+231,400
| New | +$20.1M |
|
|
PLYA
12
DELISTED
Playa Hotels & Resorts
PLYA
| $21.1M | 2.76% |
+1,584,486
| New | +$20.6M |
|
|
ESGR
13
DELISTED
Enstar Group
ESGR
| $19.2M | 2.51% |
57,615
+13,288
| +30% | +$4.38M |
|
|
PYCR
14
DELISTED
Paycor HCM, Inc. Common Stock
PYCR
| $16.9M | 2.22% |
+754,606
| New | +$16.7M |
|
|
TGI
15
DELISTED
Triumph Group
TGI
| $15.9M | 2.09% |
+628,941
| New | +$14.6M |
|
16
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$783B
| $14M | 1.83% |
25,000
| – | – |
|
|
DNB
17
DELISTED
Dun & Bradstreet
DNB
| $12.8M | 1.68% |
+1,436,923
| New | +$14.7M |
|
|
JWN
18
DELISTED
Nordstrom
JWN
| $12.6M | 1.65% |
514,943
+135,943
| +36% | +$3.3M |
|
|
PARA
19
DELISTED
Paramount Global Class B
PARA
| $12.6M | 1.64% |
1,050,499
-460,768
| -30% | -$5.15M |
|
|
ITCI
20
PUT
DELISTED
Intra-Cellular Therapies Inc.
ITCI
| $11.6M | 1.52% |
+87,900
| New | +$11M |
|
21
McGrath RentCorp
MGRC
$2.95B
| $11M | 1.45% |
99,180
-71,030
| -42% | -$8.4M |
|
|
PRA
22
DELISTED
ProAssurance
PRA
| $10.3M | 1.35% |
+442,346
| New | +$7.16M |
|
|
JWN
23
PUT
DELISTED
Nordstrom
JWN
| $9.92M | 1.3% |
405,600
+26,600
| +7% | +$645K |
|
|
WBA
24
CALL
DELISTED
Walgreens Boots Alliance
WBA
| $9.16M | 1.2% |
+820,000
| New | +$8.9M |
|
|
WBA
25
PUT
DELISTED
Walgreens Boots Alliance
WBA
| $9.16M | 1.2% |
+820,000
| New | +$8.9M |
|
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Water Island Capital's Q1 2025 Portfolio in Review
As of Q1 2025, Water Island Capital held 115 positions worth $764M, down 17% from $926M the previous quarter. Its ten largest holdings account for 49% of the portfolio.
Water Island Capital withdrew a net $215M in Q1 2025, closing 31 positions and reducing 20 holdings. Its most notable exit was HashiCorp, Inc. Class A Common Stock, an estimated $44M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 14% of assets, up from 3.3% a quarter earlier, followed by Technology and Healthcare.
Against the trend, Water Island Capital opened a new position in H&E Equipment Services worth $40.9M.
- Water Island Capital's largest Q1 2025 buy was H&E Equipment Services: 431,648 shares worth $40.9M.
- Water Island Capital added most to Enstar Group in Q1 2025, an estimated $4.38M increase.
- Water Island Capital's biggest Q1 2025 reduction was ChampionX, cutting an estimated $32.3M.
- Water Island Capital fully exited HashiCorp, Inc. Class A Common Stock in Q1 2025, selling an estimated $44M.
- Water Island Capital's ten largest holdings make up 49% of its $764M portfolio in Q1 2025.
- Water Island Capital opened 37 new positions and closed 31 in Q1 2025.
- Water Island Capital's portfolio value fell 17% quarter-over-quarter to $764M.
Based on Water Island Capital's 13F filing for Q1 2025, filed 15 May 2025.