Institutional
WATER ISLAND CAPITAL LLC
CIK 0001222765
$895.6M
Reported AUM
98
Positions
Q1 2026
Period
2026-05-15
Filed
The Brief · WATER ISLAND CAPITAL LLC · Q1 2026
AI · grounded in 13F
Water Island Capital LLC closed its position in CyberArk Software Ltd CYBR, reducing exposure by $38.65M. The fund established new positions in Penumbra Inc PEN for $39.44M and Masimo Corp MASI for $34.54M. Other notable activity includes new stakes in Electronic Arts Inc for $30.54M and Webster Finl Corp WBS for $28.87M.
Portfolio · Q1 2026
Top holdings
| # | Stock | Issuer | Price | Day % | 1Y Gr. | 5Y Gr. | Value | % of book | Δ shares (QoQ) | Status |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | EA | ELECTRONIC ARTS INC | $209.59 | 0.33% | 33.52% | 47.52% | $50.9M | 5.69% | — | HELD |
| 2 | JHG | JANUS HENDERSON GROUP PLC | — | — | — | — | $47.4M | 5.29% | — | HELD |
| 3 | WBD | WARNER BROS DISCOVERY INC | $25.47 | -0.66% | 97.90% | -11.69% | $44.4M | 4.96% | — | HELD |
| 4 | HO1 | HOLOGIC INC | — | — | — | — | $42.3M | 4.73% | — | HELD |
| 5 | TXNM | TXNM ENERGY INC | $57.97 | 0.49% | 4.81% | 35.90% | $39.5M | 4.40% | — | HELD |
| 6 | PEN | PENUMBRA INC | $319.83 | -0.09% | 31.23% | 15.98% | $39.4M | 4.40% | — | HELD |
| 7 | GTLS | CHART INDS INC | — | — | — | — | $39.3M | 4.38% | — | HELD |
| 8 | NSC | NORFOLK SOUTHN CORP | $333.93 | -0.54% | 23.15% | 45.69% | $38.5M | 4.30% | — | HELD |
| 9 | MASI | MASIMO CORP | — | — | — | — | $34.5M | 3.86% | — | HELD |
| 10 | EA | ELECTRONIC ARTS INC | $209.59 | 0.33% | 33.52% | 47.52% | $30.5M | 3.41% | — | HELD |
| 11 | WBS | WEBSTER FINL CORP | $77.30 | 1.91% | 38.87% | 74.52% | $28.9M | 3.22% | — | HELD |
| 12 | WBD | WARNER BROS DISCOVERY INC | $25.47 | -0.66% | 97.90% | -11.69% | $28.8M | 3.22% | — | HELD |
| 13 | T86 | TRI POINTE HOMES INC | — | — | — | — | $25.1M | 2.80% | — | HELD |
| 14 | NSA | NATIONAL STORAGE AFFILIATES | — | — | — | — | $21.7M | 2.43% | — | HELD |
| 15 | GLDD | GREAT LAKES DREDGE & DOCK CO | — | — | — | — | $21.5M | 2.40% | — | HELD |
| 16 | ACLXGBX | ARCELLX INC | — | — | — | — | $21.1M | 2.35% | — | HELD |
| 17 | DAWNGBX | DAY ONE BIOPHARMACEUTICALS I | — | — | — | — | $20.2M | 2.26% | — | HELD |
| 18 | DBRG | DIGITALBRIDGE GROUP INC | $15.85 | 0.19% | 52.25% | -41.98% | $20.0M | 2.24% | — | HELD |
| 19 | — | DAY ONE BIOPHARMACEUTICALS I | — | — | — | — | $18.0M | 2.01% | — | HELD |
| 20 | STEL | STELLAR BANCORP INC | — | — | — | — | $15.8M | 1.76% | — | HELD |
| 21 | EHABUSD | ENHABIT INC | — | — | — | — | $13.9M | 1.55% | — | HELD |
| 22 | SLAB | SILICON LABORATORIES INC | $216.93 | 0.23% | 68.08% | 37.32% | $12.2M | 1.36% | — | HELD |
| 23 | KVUE | KENVUE INC | $19.31 | -2.43% | -4.07% | -15.37% | $12.1M | 1.35% | — | HELD |
| 24 | KVUE | KENVUE INC | $19.31 | -2.43% | -4.07% | -15.37% | $12.1M | 1.35% | — | HELD |
| 25 | VRE | VERIS RESIDENTIAL INC | — | — | — | — | $11.3M | 1.26% | — | HELD |
| 26 | PKST | PEAKSTONE REALTY TRUST | — | — | — | — | $10.5M | 1.17% | — | HELD |
| 27 | 430 | TERNS PHARMACEUTICALS INC | — | — | — | — | $9.9M | 1.11% | — | HELD |
| 28 | — | TERNS PHARMACEUTICALS INC | — | — | — | — | $9.9M | 1.11% | — | HELD |
| 29 | SLAB | SILICON LABORATORIES INC | $216.93 | 0.23% | 68.08% | 37.32% | $9.9M | 1.11% | — | HELD |
| 30 | KW | KENNEDY-WILSON HOLDINGS INC | — | — | — | — | $8.9M | 1.00% | — | HELD |
| 31 | ZIM | ZIM INTEGRATED SHIPPING SERV | $24.73 | 0.61% | — | — | $8.7M | 0.98% | — | HELD |
| 32 | ZIM | ZIM INTEGRATED SHIPPING SERV | $24.73 | 0.61% | — | — | $8.7M | 0.98% | — | HELD |
| 33 | TXNM 5.75 06/01/54 | TXNM ENERGY INC | — | — | — | — | $8.1M | 0.90% | — | HELD |
| 34 | JHG | JANUS HENDERSON GROUP PLC | — | — | — | — | $7.9M | 0.88% | — | HELD |
| 35 | SAN | BANCO SANTANDER SA | $14.11 | 5.46% | — | — | $7.7M | 0.86% | — | HELD |
| 36 | UNF | UNIFIRST CORP MASS | $293.60 | -2.52% | — | — | $6.5M | 0.72% | — | HELD |
| 37 | CSGS 3.875 09/15/28 | CSG SYS INTL INC | — | — | — | — | $6.1M | 0.68% | — | HELD |
| 38 | AXTA | AXALTA COATING SYS LTD | $36.03 | 3.45% | — | — | $5.7M | 0.64% | — | HELD |
| 39 | AXTA | AXALTA COATING SYS LTD | $36.03 | 3.45% | — | — | $5.4M | 0.60% | — | HELD |
| 40 | RPD 0.25 03/15/27 | RAPID7 INC | — | — | — | — | $4.9M | 0.54% | — | HELD |
| 41 | APLS | APELLIS PHARMACEUTICALS INC | — | — | — | — | $4.8M | 0.54% | — | HELD |
| 42 | APLSUSD | APELLIS PHARMACEUTICALS INC | — | — | — | — | $4.8M | 0.54% | — | HELD |
| 43 | AL | AIR LEASE CORP | — | — | — | — | $4.7M | 0.53% | — | HELD |
| 44 | BSY 0.375 07/01/27 | BENTLEY SYS INC | — | — | — | — | $4.7M | 0.53% | — | HELD |
| 45 | NTNX 0.5 12/15/29 | NUTANIX INC | — | — | — | — | $4.5M | 0.50% | — | HELD |
| 46 | RDFN 0.5 04/01/27 | REDFIN CORP | — | — | — | — | $4.3M | 0.48% | — | HELD |
| 47 | HALO 0.25 03/01/27 | HALOZYME THERAPEUTICS INC | — | — | — | — | $3.1M | 0.35% | — | HELD |
| 48 | AES | AES CORP | $14.85 | 0.20% | — | — | $2.6M | 0.29% | — | HELD |
| 49 | VRNS 1 09/15/29 | VARONIS SYS INC | — | — | — | — | $2.6M | 0.29% | — | HELD |
| 50 | CWAN | CLEARWATER ANALYTICS HLDGS I | — | — | — | — | $2.6M | 0.29% | — | HELD |
| 51 | SDA | SEALED AIR CORP NEW | $0.78 | 1.16% | — | — | $2.4M | 0.26% | — | HELD |
| 52 | AAUC | ALLIED GOLD CORP | $17.84 | 4.76% | — | — | $2.3M | 0.25% | — | HELD |
| 53 | K4F | ONESTREAM INC | — | — | — | — | $2.2M | 0.24% | — | HELD |
| 54 | BHF | BRIGHTHOUSE FINL INC | $63.45 | 0.87% | — | — | $2.0M | 0.22% | — | HELD |
| 55 | NATL | NCR ATLEOS CORPORATION | $46.89 | -1.30% | — | — | $1.7M | 0.19% | — | HELD |
| 56 | SEM | SELECT MED HLDGS CORP | — | — | — | — | $1.7M | 0.19% | — | HELD |
| 57 | THR | THERMON GROUP HLDGS INC | — | — | — | — | $1.7M | 0.19% | — | HELD |
| 58 | SNCY | SUN CTRY AIRLS HLDGS INC | — | — | — | — | $1.6M | 0.18% | — | HELD |
| 59 | CNTA | CENTESSA PHARMACEUTICALS PLC | — | — | — | — | $1.6M | 0.18% | — | HELD |
| 60 | CNTA | CENTESSA PHARMACEUTICALS PLC | — | — | — | — | $1.6M | 0.18% | — | HELD |
| 61 | CSN | CSG SYS INTL INC | — | — | — | — | $1.6M | 0.18% | — | HELD |
| 62 | 628 | SEMRUSH HLDGS INC | — | — | — | — | $1.6M | 0.18% | — | HELD |
| 63 | AM6 | AMICUS THERAPEUTIC | — | — | — | — | $1.5M | 0.17% | — | HELD |
| 64 | BA | BOEING CO | $220.90 | 3.22% | — | — | $1.4M | 0.16% | — | HELD |
| 65 | STKL | SUNOPTA INC | — | — | — | — | $1.3M | 0.14% | — | HELD |
| 66 | PRA | PROASSURANCE CORP | — | — | — | — | $1.3M | 0.14% | — | HELD |
| 67 | UTE0 | CANTALOUPE INC | — | — | — | — | $1.2M | 0.13% | — | HELD |
| 68 | CCO | CLEAR CHANNEL OUTDOOR HLDGS | $2.41 | 0.42% | — | — | $1.1M | 0.13% | — | HELD |
| 69 | IHS | IHS HOLDING LIMITED | $8.20 | -0.85% | — | — | $1.1M | 0.13% | — | HELD |
| 70 | TALK | TALKSPACE INC | $5.21 | -0.19% | — | — | $1.1M | 0.12% | — | HELD |
| 71 | MCW | MISTER CAR WASH INC | — | — | — | — | $1.1M | 0.12% | — | HELD |
| 72 | DKS | DICKS SPORTING GOODS INC | $199.91 | -2.95% | — | — | $1.1M | 0.12% | — | HELD |
| 73 | GLAD 5.875 10/01/30 | GLADSTONE CAP CORP | — | — | — | — | $968K | 0.11% | — | HELD |
| 74 | CTRA | COTERRA ENERGY INC | — | — | — | — | $959K | 0.11% | — | HELD |
| 75 | SKYT | SKYWATER TECHNOLOGY INC | $32.46 | 6.15% | — | — | $947K | 0.11% | — | HELD |
| 76 | NWE | NORTHWESTERN ENERGY GROUP IN | $69.73 | -1.25% | — | — | $912K | 0.10% | — | HELD |
| 77 | AMRX | AMNEAL PHARMACEUTICALS INC | $18.50 | -3.14% | — | — | $850K | 0.09% | — | HELD |
| 78 | CZR | CAESARS ENTERTAINMENT INC NE | $29.61 | -0.54% | — | — | $780K | 0.09% | — | HELD |
| 79 | 7WH | UDEMY INC | — | — | — | — | $644K | 0.07% | — | HELD |
| 80 | EL | LAUDER ESTEE COS INC | $84.88 | 0.89% | — | — | $538K | 0.06% | — | HELD |
| 81 | PENN | PENN ENTERTAINMENT INC | $20.52 | -3.21% | — | — | $526K | 0.06% | — | HELD |
| 82 | CVGW | CALAVO GROWERS INC | — | — | — | — | $524K | 0.06% | — | HELD |
| 83 | IMXI | INTERNATIONAL MONEY EXPRESS | $13.08 | 1.24% | — | — | $523K | 0.06% | — | HELD |
| 84 | NATH | NATHANS FAMOUS INC | $98.50 | 0.00% | — | — | $503K | 0.06% | — | HELD |
| 85 | ONTF | ON24 INC | — | — | — | — | $489K | 0.05% | — | HELD |
| 86 | XHC | HERITAGE COMM CORP | — | — | — | — | $474K | 0.05% | — | HELD |
| 87 | BLFY | BLUE FOUNDRY BANCORP | — | — | — | — | $472K | 0.05% | — | HELD |
| 88 | SATS | ECHOSTAR CORP | — | — | — | — | $468K | 0.05% | — | HELD |
| 89 | FFIC | FLUSHING FINL CORP | — | — | — | — | $463K | 0.05% | — | HELD |
| 90 | UAL | UNITED AIRLS HLDGS INC | $123.56 | 3.47% | — | — | $460K | 0.05% | — | HELD |
| 91 | BVE | DIAMOND HILL INVT GROUP INC | — | — | — | — | $434K | 0.05% | — | HELD |
| 92 | FFWM | FIRST FNDTN INC | — | — | — | — | $399K | 0.04% | — | HELD |
| 93 | ALK | ALASKA AIR GROUP INC | $47.24 | 3.05% | — | — | $378K | 0.04% | — | HELD |
| 94 | PACB | PACIFIC BIOSCIENCES CALIF IN | $1.48 | 5.71% | — | — | $359K | 0.04% | — | HELD |
| 95 | VCTR | VICTORY CAP HLDGS INC DEL | $98.48 | 1.05% | — | — | $335K | 0.04% | — | HELD |
| 96 | VKTX | VIKING THERAPEUTICS INC | $33.11 | -0.96% | — | — | $335K | 0.04% | — | HELD |
| 97 | UPS | UNITED PARCEL SVCS INC | $105.27 | 0.68% | — | — | $248K | 0.03% | — | HELD |
| 98 | PYPL | PAYPAL HLDGS INC | $57.65 | -1.20% | — | — | $232K | 0.03% | — | HELD |
Source: SEC EDGAR · accession 0001222765-26-000007. 13F discloses long positions only — shorts, foreign equities, and options are excluded.