WATER ISLAND CAPITAL LLC
CIK 0001222765
Annualised vol
6.683119%
Beta
0.213996
HHI
296.081028
Top-10 weight
42.985364%
VaR 95%
0.629863%
VaR 99%
1.08178%
Max drawdown
20.81232%
Matched value
39.423957%
Returns of reported holdings
Loading returns…
Position changes vs prior quarter
What the latest 13F shows bought and sold against the quarter before, by share count.
| Ticker | Change | Shares now | Shares before | Share change % | Value now ($) |
|---|---|---|---|---|---|
| WBD | ADDED | 3,265,668 | 2,666,520 | 22.47% | 87,062,710 |
| TXNM | ADDED | 6,737,734 | 6,674,867 | 0.94% | 49,734,329 |
| PEN | ADDED | 150,456 | 120,095 | 25.28% | 47,506,483 |
| SLAB | ADDED | 148,138 | 106,017 | 39.73% | 32,377,041 |
| OGN | NEW | 2,349,099 | - | - | 31,806,801 |
| D | NEW | 381,231 | - | - | 26,034,265 |
| ACA | NEW | 173,589 | - | - | 25,220,746 |
| TECH | NEW | 335,727 | - | - | 23,719,113 |
| ROKU | NEW | 164,890 | - | - | 22,777,905 |
| DBRG | ADDED | 1,376,380 | 1,299,051 | 5.95% | 21,719,276 |
| RPD | ADDED | 8,501,530 | 5,501,530 | 54.53% | 7,831,156 |
| KVUE | REDUCED | 402,042 | 1,401,200 | -71.31% | 7,683,023 |
| ETSY | NEW | 5,000,000 | - | - | 4,734,433 |
| GOOGL | NEW | 85,000 | - | - | 4,325,650 |
| SNAP | NEW | 5,000,000 | - | - | 4,071,597 |
| QXO | NEW | 200,000 | - | - | 3,456,000 |
| GSAT | NEW | 30,668 | - | - | 2,493,002 |
| AES | REDUCED | 167,570 | 185,833 | -9.83% | 2,456,576 |
| PAYO | NEW | 258,216 | - | - | 1,838,498 |
| NATL | ADDED | 41,860 | 38,939 | 7.5% | 1,817,143 |
| QRVO | NEW | 19,052 | - | - | 1,776,980 |
| AAUC | ADDED | 73,016 | 72,785 | 0.32% | 1,733,333 |
| EQT | NEW | 25,000 | - | - | 1,329,250 |
| GBTG | NEW | 133,456 | - | - | 1,253,152 |
| IHS | ADDED | 150,235 | 137,615 | 9.17% | 1,237,936 |
| HONA | NEW | 5,000 | - | - | 1,105,400 |
| ECHO | ADDED | 8,500 | 4,000 | 112.5% | 862,750 |
| BA | REDUCED | 3,500 | 7,234 | -51.62% | 757,645 |
| SKYW | NEW | 7,000 | - | - | 695,310 |
| IMXI | ADDED | 42,140 | 33,122 | 27.23% | 608,923 |
| SLP | NEW | 33,238 | - | - | 608,588 |
| NATH | ADDED | 5,871 | 4,994 | 17.56% | 596,494 |
| VKTX | ADDED | 15,000 | 10,280 | 45.91% | 585,150 |
| ALK | ADDED | 11,000 | 10,265 | 7.16% | 574,200 |
| HON | NEW | 2,500 | - | - | 559,750 |
| AURA | NEW | 60,000 | - | - | 426,000 |
| VFC | NEW | 15,000 | - | - | 250,200 |
| PENN | REDUCED | 10,000 | 35,000 | -71.43% | 213,600 |
| NTNX | CLOSED OUT | 0 | 5,000,000 | -100.0% | 0 |
| HALO | CLOSED OUT | 0 | 3,000,000 | -100.0% | 0 |
| AMRX | CLOSED OUT | 0 | 68,400 | -100.0% | 0 |
Holdings (latest quarter)
| Ticker | Change | Issuer | Class | CUSIP | Value ($) | Weight % | Shares |
|---|---|---|---|---|---|---|---|
| - | TAYLOR MORRISON HOME CORP | Equity | 87724P106 | 52,190,277 | 4.85 | 727492.0 | |
| - | ELECTRONIC ARTS INC | Equity | 285512109 | 51,861,177 | 4.82 | 252932.0 | |
| - | CHART INDS INC | Equity | 16115Q308 | 49,643,936 | 4.62 | 237599.0 | |
| PEN | ADDED | PENUMBRA INC | Equity | 70975L107 | 47,506,483 | 4.42 | 150456.0 |
| WBD | ADDED | WARNER BROS DISCOVERY INC | Equity | 934423104 | 46,400,878 | 4.32 | 1740468.0 |
| - | JANUS HENDERSON GROUP PLC | Equity | G4474Y214 | 46,327,632 | 4.31 | 890916.0 | |
| - | NORFOLK SOUTHN CORP | Equity | 655844108 | 46,019,168 | 4.28 | 146283.0 | |
| TXNM | ADDED | TXNM ENERGY INC | Equity | 69349H107 | 41,888,537 | 3.9 | 737734.0 |
| WBD | ADDED | WARNER BROS DISCOVERY INC | Equity Put | 934423954 | 40,661,832 | 3.78 | 1525200.0 |
| - | CAESARS ENTERTAINMENT INC NE | Equity | 12769G100 | 39,628,573 | 3.69 | 1313074.0 | |
| - | STATE STR SPDR S&P 500 ETF T | Equity Call | 78462F903 | 33,604,650 | 3.13 | 45000.0 | |
| - | WEBSTER FINL CORP | Equity | 947890109 | 33,411,589 | 3.11 | 437210.0 | |
| - | NATIONAL STORAGE AFFILIATES | Equity | 637870106 | 32,394,350 | 3.01 | 728454.0 | |
| SLAB | ADDED | SILICON LABORATORIES INC | Equity | 826919102 | 32,377,041 | 3.01 | 148138.0 |
| - | LIVERAMP HLDGS INC | Equity | 53815P108 | 30,312,508 | 2.82 | 805327.0 | |
| - | CATALYST PHARMACEUTICALS INC | Equity | 14888U101 | 29,349,931 | 2.73 | 933819.0 | |
| D | NEW | DOMINION ENERGY INC | Equity | 25746U109 | 26,034,265 | 2.42 | 381231.0 |
| ACA | NEW | ARCOSA INC | Equity | 039653100 | 25,220,746 | 2.35 | 173589.0 |
| TECH | NEW | BIO-TECHNE CORP | Equity | 09073M104 | 23,719,113 | 2.21 | 335727.0 |
| - | WHITESTONE REIT | Equity | 966084204 | 23,277,363 | 2.17 | 1227709.0 | |
| ROKU | NEW | ROKU INC | Equity | 77543R102 | 22,777,905 | 2.12 | 164890.0 |
| - | TOPBUILD COR | Equity | 89055F103 | 21,840,926 | 2.03 | 51251.0 | |
| DBRG | ADDED | DIGITALBRIDGE GROUP INC | Equity | 25401T603 | 21,719,276 | 2.02 | 1376380.0 |
| - | AVANOS MED INC | Equity | 05350V106 | 19,879,170 | 1.85 | 799002.0 | |
| - | SILA REALTY TRUST INC | Equity | 146280508 | 18,940,753 | 1.76 | 623872.0 | |
| OGN | NEW | ORGANON & CO | Equity | 68622V106 | 18,616,133 | 1.73 | 1374899.0 |
| - | STELLAR BANCORP INC | Equity | 858927106 | 15,068,486 | 1.4 | 383227.0 | |
| OGN | NEW | ORGANON & CO | Equity Put | 68622V956 | 13,190,668 | 1.23 | 974200.0 |
| - | NUVALENT INC | Equity | 670703107 | 12,841,407 | 1.19 | 103979.0 | |
| - | APOGEE THERAPEUTICS INC | Equity | 03770N101 | 12,596,077 | 1.17 | 94900.0 | |
| - | STATE STR SPDR S&P 500 ETF T | Equity Put | 78462F953 | 11,201,550 | 1.04 | 15000.0 | |
| - | NUVALENT INC | Equity Call | 670703907 | 10,374,000 | 0.96 | 84000.0 | |
| - | NUVALENT INC | Equity Put | 670703957 | 10,374,000 | 0.96 | 84000.0 | |
| - | XOMA ROYALTY CORPORATION | Equity | 98419J206 | 10,285,000 | 0.96 | 242000.0 | |
| TXNM | ADDED | TXNM ENERGY INC | Convertible Bond | 69349HAF4 | 7,845,792 | 0.73 | 6000000.0 |
| RPD | ADDED | RAPID7 INC | Convertible Bond | 753422AF1 | 7,831,156 | 0.73 | 8501530.0 |
| KVUE | REDUCED | KENVUE INC | Equity | 49177J102 | 7,683,023 | 0.71 | 402042.0 |
| - | VARONIS SYS INC | Convertible Bond | 922280AD4 | 4,852,083 | 0.45 | 5000000.0 | |
| - | BENTLEY SYS INC | Convertible Bond | 08265TAD1 | 4,803,323 | 0.45 | 5000000.0 | |
| ETSY | NEW | ETSY INC | Convertible Bond | 29786AAL0 | 4,734,433 | 0.44 | 5000000.0 |
| - | LIVERAMP HLDGS INC | Equity Put | 53815P958 | 4,407,644 | 0.41 | 117100.0 | |
| GOOGL | NEW | ALPHABET INC | Convertible Preferred Stock | 02079K404 | 4,325,650 | 0.4 | 85000.0 |
| - | REDFIN CORP | Convertible Bond | 75737FAE8 | 4,325,563 | 0.4 | 4500000.0 | |
| SNAP | NEW | SNAP INC | Convertible Bond | 83304AAK2 | 4,071,597 | 0.38 | 5000000.0 |
| QXO | NEW | QXO INC | Equity Call | 82846H905 | 3,456,000 | 0.32 | 200000.0 |
| - | AXALTA COATING SYS LTD | Equity | G0750C108 | 3,336,450 | 0.31 | 97500.0 | |
| GSAT | NEW | GLOBALSTAR INC | Equity | 378973507 | 2,493,002 | 0.23 | 30668.0 |
| AES | REDUCED | AES CORP | Equity | 00130H105 | 2,456,576 | 0.23 | 167570.0 |
| - | UNIFIRST CORP MASS | Equity | 904708104 | 2,392,041 | 0.22 | 9045.0 | |
| - | APOGEE THERAPEUTICS INC | Equity Put | 03770N951 | 2,322,775 | 0.22 | 17500.0 | |
| - | ESPERION THERAPEUTICS INC NE | Equity | 29664W105 | 1,936,366 | 0.18 | 612774.0 | |
| PAYO | NEW | PAYONEER GLOBAL INC | Equity | 70451X104 | 1,838,498 | 0.17 | 258216.0 |
| NATL | ADDED | NCR ATLEOS CORPORATION | Equity | 63001N106 | 1,817,143 | 0.17 | 41860.0 |
| - | BRIGHTHOUSE FINL INC | Equity | 10922N103 | 1,793,226 | 0.17 | 28329.0 | |
| QRVO | NEW | QORVO INC | Equity | 74736K101 | 1,776,980 | 0.17 | 19052.0 |
| AAUC | ADDED | ALLIED GOLD CORP | Equity | 01921D204 | 1,733,333 | 0.16 | 73016.0 |
| - | SELECT MED HLDGS CORP | Equity | 81619Q105 | 1,361,943 | 0.13 | 82492.0 | |
| EQT | NEW | EQT CORP | Equity | 26884L109 | 1,329,250 | 0.12 | 25000.0 |
| - | TALKSPACE INC | Equity | 87427V103 | 1,261,806 | 0.12 | 242655.0 | |
| GBTG | NEW | GLOBAL BUSINESS TRAVEL GROUP | Equity | 37890B100 | 1,253,152 | 0.12 | 133456.0 |
| IHS | ADDED | IHS HOLDING LIMITED | Equity | G4701H109 | 1,237,936 | 0.12 | 150235.0 |
| - | CLEAR CHANNEL OUTDOOR HLDGS | Equity | 18453H106 | 1,229,012 | 0.11 | 507856.0 | |
| HONA | NEW | HONEYWELL AEROSPACE INC | Equity | 43849R105 | 1,105,400 | 0.1 | 5000.0 |
| - | NORTHWESTERN ENERGY GROUP IN | Equity | 668074305 | 976,395 | 0.09 | 13633.0 | |
| - | EQUITABLE HLDGS INC | Equity | 29452E101 | 908,360 | 0.08 | 20701.0 | |
| ECHO | ADDED | ECHOSTAR CORP | Equity | 278768106 | 862,750 | 0.08 | 8500.0 |
| BA | REDUCED | BOEING CO | Equity | 097023105 | 757,645 | 0.07 | 3500.0 |
| - | PVH CORPORATION | Equity | 693656100 | 742,600 | 0.07 | 10000.0 | |
| SKYW | NEW | SKYWEST INC | Equity | 830879102 | 695,310 | 0.06 | 7000.0 |
| - | CROSS CTRY HEALTHCARE INC | Equity | 227483104 | 655,375 | 0.06 | 49612.0 | |
| - | VARONIS SYS INC | Equity Put | 922280952 | 629,400 | 0.06 | 15000.0 | |
| - | TRUBRIDGE INC | Equity | 205306103 | 609,409 | 0.06 | 23251.0 | |
| IMXI | ADDED | INTERNATIONAL MONEY EXPRESS | Equity | 46005L101 | 608,923 | 0.06 | 42140.0 |
| SLP | NEW | SIMULATIONS PLUS INC | Equity | 829214105 | 608,588 | 0.06 | 33238.0 |
| NATH | ADDED | NATHANS FAMOUS INC | Equity | 632347100 | 596,494 | 0.06 | 5871.0 |
| VKTX | ADDED | VIKING THERAPEUTICS INC | Equity | 92686J106 | 585,150 | 0.05 | 15000.0 |
| ALK | ADDED | ALASKA AIR GROUP INC | Equity | 011659109 | 574,200 | 0.05 | 11000.0 |
| HON | NEW | HONEYWELL INTL INC | Equity | 438516205 | 559,750 | 0.05 | 2500.0 |
| - | PACIFIC BIOSCIENCES CALIF IN | Equity | 69404D108 | 459,759 | 0.04 | 273666.0 | |
| AURA | NEW | AURA BIOSCIENCES INC | Equity | 05153U107 | 426,000 | 0.04 | 60000.0 |
| - | ASTRONOVA INC | Equity | 04638F108 | 340,843 | 0.03 | 11972.0 | |
| - | UNITED AIRLS HLDGS INC | Equity | 910047109 | 339,975 | 0.03 | 2500.0 | |
| VFC | NEW | V F CORP | Equity | 918204108 | 250,200 | 0.02 | 15000.0 |
| PENN | REDUCED | PENN ENTERTAINMENT INC | Equity | 707569109 | 213,600 | 0.02 | 10000.0 |
| - | DICKS SPORTING GOODS INC | Equity | 253393102 | 136,086 | 0.01 | 600.0 |
Quarterly portfolios
| Period | Filed | Value ($) | Positions | Vol % | Beta | Max DD % |
|---|---|---|---|---|---|---|
| 2026-06-30 | 2026-08-14 | 1,075,083,365 | 85 | 6.683119 | 0.213996 | 20.81232 |
| 2026-03-31 | 2026-05-15 | 895,644,676 | 98 | 5.049125 | 0.137326 | 16.94498 |
| 2025-12-31 | 2026-02-17 | 927,601,491 | 91 | 3.426729 | 0.116109 | 8.657766 |
| 2025-09-30 | 2025-11-14 | 793,313,130 | 84 | 1.392978 | 0.037929 | 2.274436 |
| 2025-03-31 | 2025-05-15 | 764,117,069 | 84 | 2.547848 | 0.086182 | 6.52175 |
| 2024-12-31 | 2025-02-13 | 925,684,599 | 78 | 1.503354 | 0.054615 | 3.324409 |