Fund HoldingsWATER ISLAND CAPITAL LLC

Total Portfolio Value
$927.60M
Total Bought
$617.48M
Total Sold
$481.10M
Net Transaction
+$136.38M
Filing Period:
Securities
SharesValue ($K)
Q3 2025
Q4 2025
Change
Q3 2025
Q4 2025
Weight (%)
Change
Exact Sciences Corp(EXK)0350,009+350,009035,5473.83%+35,547
Hologic Inc0467,742+467,742034,8423.76%+34,842
Comerica Inc0398,037+398,037034,6013.73%+34,601
Cidara Therapeutics Inc0150,708+150,708033,2903.59%+33,290
Warner Bros Discovery Inc(WBD)01,139,634+1,139,634032,8443.54%+32,844
Janus Henderson Group PLC0647,485+647,485030,8013.32%+30,801
Avadel Pharmaceuticals PLC01,087,117+1,087,117023,4272.53%+23,427
Sealed Air Corp0559,237+559,237023,1692.50%+23,169
Clearwater Analytics Holdings0875,632+875,632021,1202.28%+21,120
Confluent Inc0640,113+640,113019,3572.09%+19,357
Electronic Arts Inc(EA)88,590180,838+92,24817,86936,9513.98%+19,082
State Street SPDR S&P 500 ETF(Call)
CALL
025,000+25,000017,048+17,048
Cidara Therapeutics Inc(Put)076,900+76,900016,986+16,986
DigitalBridge Group Inc(DBRG)0929,000+929,000014,2511.54%+14,251
Chart Industries Inc127,171188,325+61,15425,45338,8384.19%+13,385
Jamf Holding Corp0985,069+985,069012,8161.38%+12,816
Cadence Bank0297,603+297,603012,7491.37%+12,749
Hillenbrand Inc0399,006+399,006012,6561.36%+12,656
Plymouth Industrial REIT Inc0559,215+559,215012,2361.32%+12,236
Avidity Biosciences Inc(Put)0168,700+168,700012,168+12,168
Avidity Biosciences Inc0168,385+168,385012,1461.31%+12,146
Kenvue Inc(KVUE)(Put)0695,000+695,000011,989+11,989
Kenvue Inc(KVUE)0690,191+690,191011,9061.28%+11,906
CSG Systems International Inc0150,720+150,720011,5591.25%+11,559
Amicus Therapeutics Inc
COM
0706,617+706,617010,0621.08%+10,062
Hillenbrand Inc(Put)0315,000+315,00009,992+9,992
Dynavax Technologies Corp0610,261+610,26109,3861.01%+9,386
Qorvo Inc(QRVO)0109,521+109,52109,2561.00%+9,256
Forge Global Holdings Inc0197,075+197,07508,7820.95%+8,782
TXNM Energy Inc(TXNM)450,660576,411+125,75125,48533,9393.66%+8,454
Astria Therapeutics Inc0615,790+615,79008,0610.87%+8,061
SEMrush Holdings Inc
CL A COM
0628,602+628,60207,4740.81%+7,474
Axalta Coating Systems Ltd(AXTA)0205,722+205,72206,6470.72%+6,647
Amicus Therapeutics Inc(Call)
CALL
0451,000+451,00006,422+6,422
CSG SYSTEMS INTERNATIONA
NOTE
00005,9670.64%+5,967
Alexander & Baldwin Inc0263,012+263,01205,4290.59%+5,429
CONFLUENT INC00004,8550.52%+4,855
Teck Resources Ltd(TECK)(Put)209,600292,100+82,5009,19913,989+4,789
Hologic Inc(Put)060,600+60,60004,514+4,514
Eventbrite Inc0987,653+987,65304,3950.47%+4,395
Kimberly-Clark Corp(Call)042,200+42,20004,258+4,258
NUTANIX INC(NTNX)00003,3770.36%+3,377
VARONIS SYSTEM INC(VRNS)00002,7940.30%+2,794
RAPID7 INC0002,3365,1000.55%+2,763
Warner Bros Discovery Inc(WBD)(Put)094,900+94,90002,735+2,735
ITRON INC(ITRI)00002,4730.27%+2,473
TreeHouse Foods Inc099,421+99,42102,3450.25%+2,345
Axalta Coating Systems Ltd(AXTA)(Put)067,100+67,10002,168+2,168
Core Scientific Inc(Call)
CALL
0143,800+143,80002,094+2,094
Kenvue Inc(KVUE)(Call)0118,400+118,40002,042+2,042
New Gold Inc0226,878+226,87801,9760.21%+1,976
REV Group Inc031,261+31,26101,9010.20%+1,901
Brighthouse Financial Inc(BHF)028,841+28,84101,8690.20%+1,869
Anywhere Real Estate Inc456,600444,821-11,7794,8356,2990.68%+1,463
Essential Utilities Inc(WTRG)036,646+36,64601,4060.15%+1,406
Denny's Corp0213,445+213,44501,3280.14%+1,328
Anywhere Real Estate Inc(Call)071,100+71,10001,007+1,007
MidWestOne Financial Group Inc021,980+21,98008460.09%+846
Udemy Inc0135,922+135,92207950.09%+795
Olympic Steel Inc016,293+16,29306970.08%+697
Janus Henderson Group PLC(Put)012,000+12,0000571+571
Diamond Hill Investment Group
COM NEW
02,482+2,48204210.05%+421
Heritage Commerce Corp033,924+33,92404070.04%+407
First Foundation Inc
COM
065,919+65,91904060.04%+406
TrueCar Inc0173,620+173,62003920.04%+392
First Savings Financial Group08,788+8,78802800.03%+280
Dick's Sporting Goods Inc(DKS)01,100+1,10002180.02%+218
International Money Express In86,17588,476+2,3011,2041,3590.15%+155
Northwestern Energy Group Inc(NWE)14,30314,307+48389230.10%+85
TXNM ENERGY INC(TXNM)0003,9704,0380.44%+69
Soho House & Co Inc65,54270,756+5,2145806340.07%+54
City Office REIT Inc54,31761,498+7,1813784300.05%+52
REDFIN CORP
NOTE
0004,1674,2180.45%+51
BLACKLINE INC(BL)0002,9913,0340.33%+43
Air Lease Corp
CL A
300,677298,440-2,23719,13819,1692.07%+31
GLADSTONE CAPITAL CORP0001,9841,9860.21%+1
BENTLEY SYSTEMS(BSY)0004,7124,7120.51%-0
BOEING CO/THE80,00080,00005,5665,5250.60%-41
PACIFIC BIOSCIENCES CALIF IN35,7540-35,754460-46
AURA BIOSCIENCES INC10,3720-10,372640-64
HALOZYME THERAPEUTICS IN(HALO)0003,4323,2350.35%-197
EVOLENT HEALTH INC0001,6241,3460.15%-278
Cantaloupe Inc0131,794+131,79401,4000.15%+1,400
HARBORONE BANCORP INC NEW22,4640-22,4643060-306
CORECARD CORPORATION16,5950-16,5954470-447
Synovus Financial Corp421,500403,650-17,85020,68720,2032.18%-485
PROVIDENT BANCORP INC40,2820-40,2825050-505
Norfolk Southern Corp(NSC)125,799129,043+3,24437,79137,2574.02%-534
BERRY CORP142,9790-142,9795400-540
PERFORMANT HEALTHCARE INC72,7720-72,7725630-563
CROSS CTRY HEALTHCARE INC42,8970-42,8976090-609
MRC GLOBAL INC58,6050-58,6058450-845
METSERA INC(Put)18,7000-18,7009790-979
METSERA INC18,7300-18,7309800-980
REDWOOD TRUST INC0001,0230-1,023
SPOTIFY USA INC(SPOT)0006,8335,6750.61%-1,157
AMERICAN WOODMARK CORPORATIO18,3360-18,3361,2240-1,224
LIVE NATION ENTERTAINMENT IN(Call)7,5000-7,5001,2260-1,225
MAC COPPER LIMITED103,2540-103,2541,2610-1,261
ZIMVIE INC72,3530-72,3531,3700-1,370
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