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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
+21.03%
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
$793M
AUM Growth
+$91.3M
(+13%)
Cap. Flow
-$27.3M
Cap. Flow
% of AUM
-3.44%
Top 10 Holdings %
Top 10 Hldgs %
37.18%
Holding
133
New
55
Increased
7
Reduced
6
Closed
49
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
CYBR
CyberArk
CYBR
|
+$36.8M |
| 2 |
Norfolk Southern
NSC
|
+$34.9M |
| 3 |
VRNA
Verona Pharma
VRNA
|
+$30.3M |
| 4 |
VBTX
Veritex Holdings
VBTX
|
+$26.3M |
| 5 |
VRNT
Verint Systems
VRNT
|
+$24.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AMED
Amedisys
AMED
|
+$55.3M |
| 2 |
ANSS
Ansys
ANSS
|
+$39.8M |
| 3 |
JNPR
Juniper Networks
JNPR
|
+$37.1M |
| 4 |
HES
Hess
HES
|
+$36.1M |
| 5 |
SWTX
SpringWorks Therapeutics
SWTX
|
+$33.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 29.72% |
| 2 | Industrials | 11.85% |
| 3 | Financials | 9.66% |
| 4 | Healthcare | 9.53% |
| 5 | Communication Services | 8.28% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
CYBR
1
DELISTED
CyberArk
CYBR
| $41.5M | 5.23% |
+85,799
| New | +$36.8M |
|
|
2
Norfolk Southern
NSC
$77.1B
| $37.8M | 4.76% |
+125,799
| New | +$34.9M |
|
|
VRNA
3
DELISTED
Verona Pharma
VRNA
| $31M | 3.9% |
+290,182
| New | +$30.3M |
|
|
AVDX
4
DELISTED
AvidXchange
AVDX
| $28.7M | 3.62% |
2,882,867
+921,533
| +47% | +$9.12M |
|
|
INFA
5
DELISTED
Informatica
INFA
| $28.6M | 3.6% |
1,149,598
+343,370
| +43% | +$8.47M |
|
|
VBTX
6
DELISTED
Veritex Holdings
VBTX
| $27.4M | 3.45% |
+815,698
| New | +$26.3M |
|
|
TXNM
7
TXNM Energy Inc
TXNM
$6.43B
| $25.5M | 3.21% |
450,660
+188,121
| +72% | +$10.7M |
|
|
GTLS
8
DELISTED
Chart Industries
GTLS
| $25.5M | 3.21% |
+127,171
| New | +$24.2M |
|
|
TGNA
9
DELISTED
TEGNA Inc
TGNA
| $24.9M | 3.14% |
+1,223,508
| New | +$23.3M |
|
|
VRNT
10
DELISTED
Verint Systems
VRNT
| $24.4M | 3.07% |
+1,202,967
| New | +$24.8M |
|
|
PBPB
11
DELISTED
Potbelly
PBPB
| $23M | 2.9% |
+1,351,588
| New | +$18.3M |
|
|
AHL
12
DELISTED
Aspen Insurance
AHL
| $22.8M | 2.87% |
+620,249
| New | +$20.4M |
|
|
WNS
13
DELISTED
WNS Holdings
WNS
| $22.6M | 2.85% |
+296,042
| New | +$22.1M |
|
|
SNV
14
DELISTED
Synovus
SNV
| $20.7M | 2.61% |
+421,500
| New | +$21.6M |
|
|
SNV
15
PUT
DELISTED
Synovus
SNV
| $20.7M | 2.61% |
+421,500
| New | +$21.6M |
|
|
AL
16
DELISTED
Air Lease Corp
AL
| $19.1M | 2.41% |
+300,677
| New | +$18M |
|
17
PUT
Core Scientific
CORZ
$6.43B
| $18.7M | 2.36% |
+1,042,000
| New | +$15.3M |
|
|
MLNK
18
DELISTED
MeridianLink
MLNK
| $18.5M | 2.34% |
+930,234
| New | +$17.1M |
|
|
SPNS
19
DELISTED
Sapiens International
SPNS
| $18.1M | 2.28% |
+421,434
| New | +$15.3M |
|
20
Electronic Arts
EA
$52.4B
| $17.9M | 2.25% |
+88,590
| New | +$14.7M |
|
21
STAAR Surgical
STAA
$1.12B
| $17.7M | 2.23% |
+658,317
| New | +$15.7M |
|
|
HBI
22
DELISTED
Hanesbrands
HBI
| $14.9M | 1.88% |
+2,264,676
| New | +$12.5M |
|
|
23
Core Scientific
CORZ
$6.43B
| $14.1M | 1.78% |
+785,446
| New | +$11.5M |
|
|
DAY
24
DELISTED
Dayforce
DAY
| $12.7M | 1.6% |
+183,721
| New | +$11.4M |
|
|
VMEO
25
DELISTED
Vimeo
VMEO
| $12.1M | 1.52% |
+1,555,942
| New | +$7.66M |
|
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Water Island Capital's Q3 2025 Portfolio in Review
As of Q3 2025, Water Island Capital held 133 positions worth $793M, up 13% from $702M the previous quarter. Its ten largest holdings account for 37% of the portfolio.
Water Island Capital withdrew a net $27.3M in Q3 2025, closing 49 positions and reducing 6 holdings. Its most notable exit was Amedisys, an estimated $55.3M position sold in full.
By sector, the portfolio is most concentrated in Technology at 30% of assets, up from 23% a quarter earlier, followed by Industrials and Financials.
Against the trend, Water Island Capital opened a new position in CyberArk worth $41.5M.
- Water Island Capital's largest Q3 2025 buy was CyberArk: 85,799 shares worth $41.5M.
- Water Island Capital added most to TXNM Energy Inc in Q3 2025, an estimated $10.7M increase.
- Water Island Capital's biggest Q3 2025 reduction was Cantaloupe, cutting an estimated $8.55M.
- Water Island Capital fully exited Amedisys in Q3 2025, selling an estimated $55.3M.
- Water Island Capital's ten largest holdings make up 37% of its $793M portfolio in Q3 2025.
- Water Island Capital opened 55 new positions and closed 49 in Q3 2025.
- Water Island Capital's portfolio value rose 13% quarter-over-quarter to $793M.
Based on Water Island Capital's 13F filing for Q3 2025, filed 14 Nov 2025.