Water Island Capital LLC

13F filer · CIK 0001222765

Reported Aug 14, 2026

Net buyer this quarter

13F portfolio value$1.08BU.S. long equity reported on 13F

Positions6633 new · 40 closed

Net flow last quarter+$188MBuys minus sells

Top 10 positions weight41.0%Concentration

Holdings

13F · last 4 quarters free

Scroll for earlier quarters

Company	Value	% of portfolio	% of company	POSITION CHANGE qoq %	First reported
Q2 2026Reported Aug 14, 202666 positions
TMHCTaylor Morrison Home Corp	$52.2M	4.85%	0.78%	New	Q2 2026
EAElectronic Arts Inc.	$51.9M	4.82%	Not reported	+1.2%	Q3 2025
GTLSChart Industries Inc	$49.6M	4.62%	0.50%	+25.1%	Q3 2025
PENPenumbra Inc	$47.5M	4.42%	0.38%	+25.3%	Q1 2026
WBDWarner Bros. Discovery, Inc.	$46.4M	4.32%	0.07%	+7.6%	Q4 2025
NSCNorfolk Southern Corp	$46M	4.28%	0.07%	+9.1%	Q1 2017
TXNMTXNM Energy Inc	$41.9M	3.90%	0.67%	+9.3%	Q4 2020
CZRCaesars Entertainment, Inc.	$39.6M	3.69%	0.64%	+4351.1%	Q4 2017
WBSWebster Financial Corp	$33.4M	3.11%	0.27%	+5.1%	Q1 2026
NSANational Storage Affiliates Trust	$32.4M	3.01%	0.94%	+26.4%	Q1 2026
SLABSilicon Laboratories Inc.	$32.4M	3.01%	0.45%	+153.6%	Q1 2026
RAMPLiveRamp Holdings, Inc.	$30.3M	2.82%	1.34%	Not reported	Q1 2019
CPRXCatalyst Pharmaceuticals, Inc.	$29.3M	2.73%	0.76%	New	Q2 2026
DDominion Energy, Inc	$26M	2.42%	0.04%	New	Q2 2026
ACAArcosa, Inc.	$25.2M	2.35%	0.35%	New	Q2 2026
TECHBIO-TECHNE Corp	$23.7M	2.21%	0.22%	New	Q2 2026
WSRWhitestone REIT	$23.3M	2.17%	2.39%	New	Q2 2026
ROKURoku, Inc	$22.8M	2.12%	0.11%	New	Q2 2026
BLDTopBuild Corp	$21.8M	2.03%	0.18%	New	Q2 2026
DBRGDigitalBridge Group, Inc.	$21.7M	2.02%	0.75%	+6.0%	Q4 2025
AVNSAvanos Medical, Inc.	$19.9M	1.85%	1.71%	New	Q2 2026
SILASila Realty Trust, Inc.	$18.9M	1.76%	1.13%	New	Q2 2026
OGNOrganon & Co.	$18.6M	1.73%	0.52%	New	Q2 2026
NUVLNuvalent, Inc.	$12.8M	1.19%	3.32%	New	Q2 2026
APGEApogee Therapeutics, Inc.	$12.6M	1.17%	0.13%	New	Q2 2026
XOMAXOMA Royalty Corp	$10.3M	0.96%	1.93%	New	Q2 2026
KVUEKenvue Inc.	$7.68M	0.71%	0.02%	-42.6%	Q4 2025
GOOGMAlphabet Inc.	$4.33M	0.40%	Not reported	New	Q2 2026
AXTAAxalta Coating Systems Ltd.	$3.34M	0.31%	0.05%	-52.9%	Q3 2015
GSATGlobalstar, Inc.	$2.49M	0.23%	0.02%	Not reported	Q4 2015
AESAes Corp	$2.46M	0.23%	0.02%	-9.8%	Q1 2026
UNFUnifirst Corp	$2.39M	0.22%	0.05%	-64.9%	Q1 2026
ESPREsperion Therapeutics, Inc.	$1.94M	0.18%	0.24%	New	Q2 2026
PAYOPayoneer Global Inc.	$1.84M	0.17%	0.08%	New	Q2 2026
NATLNCR Atleos Corp	$1.82M	0.17%	0.06%	+7.5%	Q1 2026
BHFBrighthouse Financial, Inc.	$1.79M	0.17%	0.05%	-15.4%	Q3 2017
QRVOQorvo, Inc.	$1.78M	0.17%	0.02%	Not reported	Q4 2025
AAUCAllied Gold Corp	$1.73M	0.16%	0.06%	+0.3%	Q1 2026
SEMSelect Medical Holdings Corp	$1.36M	0.13%	0.07%	-20.3%	Q1 2026
EQTEQT Corp	$1.33M	0.12%	0.00%	Not reported	Q4 2020
TALKTalkspace, Inc.	$1.26M	0.12%	0.15%	+12.3%	Q1 2026
GBTGGlobal Business Travel Group, Inc.	$1.25M	0.12%	0.03%	New	Q2 2026
IHSIHS Holding Ltd	$1.24M	0.12%	0.04%	+9.2%	Q1 2026
CCOClear Channel Outdoor Holdings, Inc.	$1.23M	0.11%	0.10%	+6.1%	Q1 2026
HONAHoneywell Aerospace Inc.	$1.11M	0.10%	Not reported	New	Q2 2026
NWENorthWestern Energy Group, Inc.	$976K	0.09%	0.02%	-1.5%	Q3 2025
EQHEquitable Holdings, Inc.	$908K	0.08%	0.01%	New	Q2 2026
ECHOEchoStar CORP	$863K	0.08%	0.02%	+112.5%	Q1 2026
BABoeing Co	$758K	0.07%	0.00%	-51.6%	Q3 2023
PVHPVH Corp.	$743K	0.07%	0.02%	New	Q2 2026

Q1 2026Reported May 15, 202673 positions
EAElectronic Arts Inc.	$50.9M	5.69%	Not reported	+38.2%	Q3 2025
WBDWarner Bros. Discovery, Inc.	$44.4M	4.96%	0.06%	+41.9%	Q4 2025
HOLXHologic Inc	$42.3M	4.73%	0.25%	+19.7%	Q4 2025
TXNMTXNM Energy Inc	$39.5M	4.40%	0.61%	+17.1%	Q4 2020
PENPenumbra Inc	$39.4M	4.40%	0.31%	New	Q1 2026
GTLSChart Industries Inc	$39.3M	4.38%	0.40%	+0.9%	Q3 2025
NSCNorfolk Southern Corp	$38.5M	4.30%	0.06%	+3.9%	Q1 2017
MASIMasimo Corp	$34.5M	3.86%	0.37%	New	Q1 2026
WBSWebster Financial Corp	$28.9M	3.22%	0.26%	New	Q1 2026
TPHTri Pointe Homes, Inc.	$25.1M	2.80%	0.63%	New	Q1 2026
NSANational Storage Affiliates Trust	$21.7M	2.43%	0.75%	New	Q1 2026
GLDDGreat Lakes Dredge & Dock Corporation	$21.5M	2.40%	1.89%	New	Q1 2026
ACLXArcellx, Inc.	$21.1M	2.35%	0.31%	New	Q1 2026
DAWNDay One Biopharmaceuticals, Inc.	$20.2M	2.26%	0.91%	New	Q1 2026
DBRGDigitalBridge Group, Inc.	$20M	2.24%	0.71%	+39.8%	Q4 2025
EHABEnhabit, Inc.	$13.9M	1.55%	1.94%	New	Q1 2026
SLABSilicon Laboratories Inc.	$12.2M	1.36%	0.18%	New	Q1 2026
KVUEKenvue Inc.	$12.1M	1.35%	0.04%	+1.5%	Q4 2025
VREVeris Residential, Inc.	$11.3M	1.26%	Not reported	New	Q1 2026
PKSTPeakstone Realty Trust	$10.5M	1.17%	1.35%	New	Q1 2026
TERNTerns Pharmaceuticals, Inc.	$9.94M	1.11%	0.16%	New	Q1 2026
KWKennedy-Wilson Holdings, Inc.	$8.93M	1.00%	0.59%	New	Q1 2026
ZIMZIM Integrated Shipping Services Ltd.	$8.74M	0.98%	0.28%	New	Q1 2026
UNFUnifirst Corp	$6.48M	0.72%	0.13%	New	Q1 2026
AXTAAxalta Coating Systems Ltd.	$5.73M	0.64%	0.10%	+0.6%	Q3 2015
APLSApellis Pharmaceuticals, Inc.	$4.85M	0.54%	0.09%	New	Q1 2026
ALSumisho Air Lease Corporation	$4.75M	0.53%	0.07%	-75.5%	Q3 2025
AESAes Corp	$2.62M	0.29%	0.03%	New	Q1 2026
CWANClearwater Analytics Holdings, Inc.	$2.59M	0.29%	Not reported	-87.5%	Q4 2025
SEESealed Air Corp	$2.36M	0.26%	0.04%	-90.0%	Q4 2025
AAUCAllied Gold Corp	$2.26M	0.25%	0.06%	New	Q1 2026
BHFBrighthouse Financial, Inc.	$2.01M	0.22%	0.06%	+16.1%	Q3 2017
NATLNCR Atleos Corp	$1.7M	0.19%	0.05%	New	Q1 2026
SEMSelect Medical Holdings Corp	$1.69M	0.19%	0.08%	New	Q1 2026
THRThermon Group Holdings, Inc.	$1.66M	0.19%	0.10%	New	Q1 2026
SNCYSun Country Airlines Holdings, Inc.	$1.63M	0.18%	0.18%	New	Q1 2026
CNTACentessa Pharmaceuticals PLC	$1.63M	0.18%	0.03%	New	Q1 2026
CSGSCSG Systems International Inc	$1.62M	0.18%	0.07%	-86.6%	Q4 2025
SEMRSemrush Holdings, Inc.	$1.6M	0.18%	0.57%	-78.7%	Q4 2025
FOLDAmicus Therapeutics, Inc.	$1.5M	0.17%	0.03%	-85.3%	Q4 2025
BABoeing Co	$1.44M	0.16%	0.00%	Not reported	Q3 2023
STKLSunOpta Inc.	$1.27M	0.14%	0.17%	New	Q1 2026
PRAProassurance Corp	$1.26M	0.14%	0.10%	+8.8%	Q1 2025
CTLPCantaloupe, Inc.	$1.17M	0.13%	Not reported	-18.2%	Q2 2025
CCOClear Channel Outdoor Holdings, Inc.	$1.13M	0.13%	0.10%	New	Q1 2026
IHSIHS Holding Ltd	$1.13M	0.13%	0.04%	New	Q1 2026
TALKTalkspace, Inc.	$1.12M	0.12%	0.13%	New	Q1 2026
MCWMister Car Wash, Inc.	$1.09M	0.12%	0.05%	New	Q1 2026
DKSDick'S Sporting Goods, Inc.	$1.06M	0.12%	0.01%	+386.2%	Q4 2025
CTRACentra Software Inc	$959K	0.11%	Not reported	New	Q1 2026

Q4 2025Reported Feb 17, 202657 positions
GTLSChart Industries Inc	$38.8M	4.19%	0.42%	+48.1%	Q3 2025
NSCNorfolk Southern Corp	$37.3M	4.02%	0.06%	+2.6%	Q1 2017
EAElectronic Arts Inc.	$37M	3.98%	Not reported	+104.1%	Q3 2025
EXKEndeavour Silver Corp	$35.5M	3.83%	0.13%	New	Q4 2025
HOLXHologic Inc	$34.8M	3.76%	0.21%	New	Q4 2025
CMAComerica Inc	$34.6M	3.73%	0.31%	Not reported	Q4 2015
TXNMTXNM Energy Inc	$33.9M	3.66%	0.53%	+27.9%	Q4 2020
CDTXCidara Therapeutics, Inc.	$33.3M	3.59%	0.48%	New	Q4 2025
WBDWarner Bros. Discovery, Inc.	$32.8M	3.54%	0.05%	New	Q4 2025
AVDLAvadel Pharmaceuticals PLC	$23.4M	2.53%	1.11%	New	Q4 2025
SEESealed Air Corp	$23.2M	2.50%	0.38%	New	Q4 2025
TGNATegna Inc	$22.9M	2.47%	Not reported	-3.6%	Q2 2017
AHLAspen Insurance Holdings Ltd	$21.2M	2.29%	Not reported	-7.7%	Q3 2025
CWANClearwater Analytics Holdings, Inc.	$21.1M	2.28%	Not reported	New	Q4 2025
SNVSynovus Financial Corp	$20.2M	2.18%	0.29%	-4.2%	Q3 2025
CFLTConfluent, Inc.	$19.4M	2.09%	0.58%	New	Q4 2025
ALSumisho Air Lease Corporation	$19.2M	2.07%	0.27%	-0.7%	Q3 2025
DBRGDigitalBridge Group, Inc.	$14.3M	1.54%	0.51%	New	Q4 2025
JAMFJamf Holding Corp.	$12.8M	1.38%	0.74%	New	Q4 2025
CADECadence Financial Corp	$12.7M	1.37%	Not reported	Not reported	Q2 2021
HIHillenbrand, Inc.	$12.7M	1.36%	0.56%	New	Q4 2025
PLYMPlymouth Industrial REIT, Inc.	$12.2M	1.32%	1.26%	New	Q4 2025
RNAMAvidity Biosciences, Inc.	$12.1M	1.31%	0.11%	New	Q4 2025
KVUEKenvue Inc.	$11.9M	1.28%	0.04%	New	Q4 2025
CSGSCSG Systems International Inc	$11.6M	1.25%	0.53%	New	Q4 2025
FOLDAmicus Therapeutics, Inc.	$10.1M	1.08%	0.23%	New	Q4 2025
DVAXDynavax Technologies Corp	$9.39M	1.01%	0.52%	New	Q4 2025
QRVOQorvo, Inc.	$9.26M	1.00%	0.12%	New	Q4 2025
FRGEForge Global Holdings, Inc.	$8.78M	0.95%	1.43%	New	Q4 2025
ATXSAstria Therapeutics, Inc.	$8.06M	0.87%	1.08%	New	Q4 2025
SEMRSemrush Holdings, Inc.	$7.47M	0.81%	2.68%	New	Q4 2025
AXTAAxalta Coating Systems Ltd.	$6.65M	0.72%	0.10%	Not reported	Q3 2015
HOUSAnywhere Real Estate Inc.	$6.3M	0.68%	0.40%	-2.6%	Q3 2025
ALEXMatson, Inc.	$5.43M	0.59%	Not reported	New	Q4 2025
EBEventbrite, Inc.	$4.4M	0.47%	0.98%	New	Q4 2025
DAYDayforce, Inc.	$3.28M	0.35%	0.03%	-74.2%	Q3 2025
THSTreeHouse Foods, Inc.	$2.35M	0.25%	0.20%	New	Q4 2025
REVGREV Group, Inc.	$1.9M	0.20%	0.06%	New	Q4 2025
BHFBrighthouse Financial, Inc.	$1.87M	0.20%	0.05%	Not reported	Q3 2017
STAAStaar Surgical Co	$1.57M	0.17%	0.14%	-89.7%	Q3 2025
WTRGEssential Utilities, Inc.	$1.41M	0.15%	0.01%	New	Q4 2025
CTLPCantaloupe, Inc.	$1.4M	0.15%	Not reported	-18.1%	Q2 2025
IMXIInternational Money Express, Inc.	$1.36M	0.15%	0.30%	+2.7%	Q3 2025
DENNDENNY'S Corp	$1.33M	0.14%	0.41%	New	Q4 2025
PRAProassurance Corp	$1.14M	0.12%	0.09%	-77.7%	Q1 2025
NWENorthWestern Energy Group, Inc.	$923K	0.10%	0.02%	0.0%	Q3 2025
MOFGMIdWestOne Financial Group, Inc.	$846K	0.09%	0.11%	New	Q4 2025
UDMYUdemy, Inc.	$795K	0.09%	0.09%	New	Q4 2025
ZEUSOlympic Steel Inc	$697K	0.08%	0.15%	New	Q4 2025
SHCOSoho House & Co Inc.	$634K	0.07%	0.04%	+8.0%	Q3 2025

Q3 2025Reported Nov 14, 202553 positions
NSCNorfolk Southern Corp	$37.8M	4.76%	0.06%	Not reported	Q1 2017
VRNAVerona Pharma plc	$31M	3.90%	0.04%	New	Q3 2025
AVDXAvidXchange Holdings, Inc.	$28.7M	3.62%	1.39%	+47.0%	Q2 2025
INFAInformatica LLC	$28.6M	3.60%	1.10%	+42.6%	Q2 2025
VBTXVeritex Holdings, Inc.	$27.4M	3.45%	1.49%	New	Q3 2025
TXNMTXNM Energy Inc	$25.5M	3.21%	0.41%	+71.7%	Q4 2020
GTLSChart Industries Inc	$25.5M	3.21%	0.28%	New	Q3 2025
TGNATegna Inc	$24.9M	3.14%	Not reported	Not reported	Q2 2017
VRNTVerint Systems Inc	$24.4M	3.07%	1.99%	New	Q3 2025
PBPBPotbelly Corporation	$23M	2.90%	4.47%	New	Q3 2025
AHLAspen Insurance Holdings Ltd	$22.8M	2.87%	Not reported	New	Q3 2025
WNSWNS (Holdings) Limited	$22.6M	2.85%	0.69%	New	Q3 2025
SNVSynovus Financial Corp	$20.7M	2.61%	0.30%	New	Q3 2025
ALSumisho Air Lease Corporation	$19.1M	2.41%	0.27%	New	Q3 2025
MLNKMeridianLink, Inc.	$18.5M	2.34%	1.26%	New	Q3 2025
EAElectronic Arts Inc.	$17.9M	2.25%	Not reported	New	Q3 2025
STAAStaar Surgical Co	$17.7M	2.23%	1.32%	New	Q3 2025
HBIHanesbrands Inc.	$14.9M	1.88%	0.64%	New	Q3 2025
CORZCore Scientific, Inc./tx	$14.1M	1.78%	0.25%	New	Q3 2025
DAYDayforce, Inc.	$12.7M	1.60%	0.11%	New	Q3 2025
VMEOVimeo, Inc.	$12.1M	1.52%	Not reported	New	Q3 2025
MGRCMcgrath Rentcorp	$11.6M	1.47%	0.40%	+0.1%	Q1 2024
PROPros Holdings, Inc.	$11.3M	1.42%	1.02%	New	Q3 2025
IASIntegral Ad Science Holding Corp.	$10.9M	1.37%	0.64%	New	Q3 2025
TECKTeck Resources Ltd	$9.21M	1.16%	Not reported	Not reported	Q4 2015
MRUSMerus N.V.	$9.04M	1.14%	0.13%	New	Q3 2025
WOWWideOpenWest, Inc.	$8.04M	1.01%	1.82%	New	Q3 2025
PINCPremier, Inc.	$7.74M	0.98%	0.34%	New	Q3 2025
PGREParamount Group, Inc.	$6.27M	0.79%	0.43%	New	Q3 2025
PRAProassurance Corp	$5.05M	0.64%	0.41%	-61.6%	Q1 2025
HOUSAnywhere Real Estate Inc.	$4.84M	0.61%	0.41%	New	Q3 2025
SSLSasol Ltd	$2.68M	0.34%	Not reported	New	Q3 2025
TRMLTourmaline Bio, Inc.	$2.44M	0.31%	0.20%	New	Q3 2025
LBRDKLiberty Broadband Corp	$2.28M	0.29%	Not reported	Not reported	Q4 2024
IPGInterpublic Group of Companies, Inc.	$1.76M	0.22%	0.02%	-7.7%	Q4 2024
CTLPCantaloupe, Inc.	$1.7M	0.21%	Not reported	-83.0%	Q2 2025
SCSSteelcase Inc	$1.63M	0.21%	0.08%	New	Q3 2025
ZIMVZimvie Inc.	$1.37M	0.17%	0.26%	New	Q3 2025
AMWDAmerican Woodmark Corp	$1.22M	0.15%	0.13%	New	Q3 2025
IMXIInternational Money Express, Inc.	$1.2M	0.15%	0.29%	New	Q3 2025
MTSRMetsera, Inc.	$980K	0.12%	0.02%	New	Q3 2025
MRCMRC Global Inc.	$845K	0.11%	0.07%	Not reported	Q4 2015
NWENorthWestern Energy Group, Inc.	$838K	0.11%	0.02%	New	Q3 2025
CCRNCross Country Healthcare Inc	$609K	0.08%	0.13%	-27.7%	Q4 2024
SHCOSoho House & Co Inc.	$580K	0.07%	0.03%	New	Q3 2025
PHLTPerformant Healthcare, Inc.	$563K	0.07%	Not reported	New	Q3 2025
BRYBerry Petroleum Company, LLC	$540K	0.07%	Not reported	Not reported	Q2 2013
PVBCProvident Bancorp, Inc.	$505K	0.06%	0.23%	+116.9%	Q2 2025
CCRDCoreCard Corp	$447K	0.06%	Not reported	New	Q3 2025
CIOCity Office REIT, Inc.	$378K	0.05%	0.13%	New	Q3 2025

Premium opens every quarter this fund has filed