Q1 2026 · 13F-HR
WATER ISLAND CAPITAL LLCholdings as filed
Filed 2026-05-15 · accession 0001222765-26-000007
$895.6M
Reported value
98
Positions
2026-03-31
Period end
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.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 285512109 | EA | ELECTRONIC ARTS INC | $50.9M | 5.69% | 249,888 | Common | SOLE |
| G4474Y214 | JHG | JANUS HENDERSON GROUP PLC | $47.4M | 5.29% | 922,277 | Common | SOLE |
| 934423104 | WBD | WARNER BROS DISCOVERY INC | $44.4M | 4.96% | 1,617,020 | Common | SOLE |
| 436440101 | HO1 | HOLOGIC INC | $42.3M | 4.73% | 560,045 | Common | SOLE |
| 69349H107 | TXNM | TXNM ENERGY INC | $39.5M | 4.40% | 674,867 | Common | SOLE |
| 70975L107 | PEN | PENUMBRA INC | $39.4M | 4.40% | 120,095 | Common | SOLE |
| 16115Q308 | GTLS | CHART INDS INC | $39.3M | 4.38% | 189,939 | Common | SOLE |
| 655844108 | NSC | NORFOLK SOUTHN CORP | $38.5M | 4.30% | 134,051 | Common | SOLE |
| 574795100 | MASI | MASIMO CORP | $34.5M | 3.86% | 194,197 | Common | SOLE |
| 285512959 | EA | ELECTRONIC ARTS INC | $30.5M | 3.41% | 149,800 | PUT | SOLE |
| 947890109 | WBS | WEBSTER FINL CORP | $28.9M | 3.22% | 415,823 | Common | SOLE |
| 934423954 | WBD | WARNER BROS DISCOVERY INC | $28.8M | 3.22% | 1,049,500 | PUT | SOLE |
| 87265H109 | T86 | TRI POINTE HOMES INC | $25.1M | 2.80% | 536,367 | Common | SOLE |
| 637870106 | NSA | NATIONAL STORAGE AFFILIATES | $21.7M | 2.43% | 576,224 | Common | SOLE |
| 390607109 | GLDD | GREAT LAKES DREDGE & DOCK CO | $21.5M | 2.40% | 1,263,580 | Common | SOLE |
| 03940C100 | ACLXGBX | ARCELLX INC | $21.1M | 2.35% | 183,409 | Common | SOLE |
| 23954D109 | DAWNGBX | DAY ONE BIOPHARMACEUTICALS I | $20.2M | 2.26% | 944,247 | Common | SOLE |
| 25401T603 | DBRG | DIGITALBRIDGE GROUP INC | $20.0M | 2.24% | 1,299,051 | Common | SOLE |
| 23954D959 | — | DAY ONE BIOPHARMACEUTICALS I | $18.0M | 2.01% | 839,700 | PUT | SOLE |
| 858927106 | STEL | STELLAR BANCORP INC | $15.8M | 1.76% | 431,231 | Common | SOLE |
| 29332G102 | EHABUSD | ENHABIT INC | $13.9M | 1.55% | 984,611 | Common | SOLE |
| 826919102 | SLAB | SILICON LABORATORIES INC | $12.2M | 1.36% | 58,417 | Common | SOLE |
| 49177J102 | KVUE | KENVUE INC | $12.1M | 1.35% | 700,600 | Common | SOLE |
| 49177J952 | KVUE | KENVUE INC | $12.1M | 1.35% | 700,600 | PUT | SOLE |
| 554489104 | VRE | VERIS RESIDENTIAL INC | $11.3M | 1.26% | 597,390 | Common | SOLE |
| 39818P799 | PKST | PEAKSTONE REALTY TRUST | $10.5M | 1.17% | 503,583 | Common | SOLE |
| 880881957 | — | TERNS PHARMACEUTICALS INC | $9.9M | 1.11% | 188,500 | PUT | SOLE |
| 880881107 | 430 | TERNS PHARMACEUTICALS INC | $9.9M | 1.11% | 188,500 | Common | SOLE |
| 826919952 | SLAB | SILICON LABORATORIES INC | $9.9M | 1.11% | 47,600 | PUT | SOLE |
| 489398107 | KW | KENNEDY-WILSON HOLDINGS INC | $8.9M | 1.00% | 825,652 | Common | SOLE |
| M9T951959 | ZIM | ZIM INTEGRATED SHIPPING SERV | $8.7M | 0.98% | 331,800 | PUT | SOLE |
| M9T951109 | ZIM | ZIM INTEGRATED SHIPPING SERV | $8.7M | 0.98% | 331,800 | Common | SOLE |
| 69349HAF4 | TXNM 5.75 06/01/54 | TXNM ENERGY INC | $8.1M | 0.90% | 6,000,000 | Common | SOLE |
| G4474Y954 | JHG | JANUS HENDERSON GROUP PLC | $7.9M | 0.88% | 154,300 | PUT | SOLE |
| 05964H905 | SAN | BANCO SANTANDER SA | $7.7M | 0.86% | 681,700 | CALL | SOLE |
| 904708104 | UNF | UNIFIRST CORP MASS | $6.5M | 0.72% | 25,743 | Common | SOLE |
| 126349AH2 | CSGS 3.875 09/15/28 | CSG SYS INTL INC | $6.1M | 0.68% | 5,000,000 | Common | SOLE |
| G0750C108 | AXTA | AXALTA COATING SYS LTD | $5.7M | 0.64% | 206,902 | Common | SOLE |
| G0750C958 | AXTA | AXALTA COATING SYS LTD | $5.4M | 0.60% | 195,000 | PUT | SOLE |
| 753422AF1 | RPD 0.25 03/15/27 | RAPID7 INC | $4.9M | 0.54% | 5,501,530 | Common | SOLE |
| 03753U956 | APLS | APELLIS PHARMACEUTICALS INC | $4.8M | 0.54% | 120,500 | PUT | SOLE |
| 03753U106 | APLSUSD | APELLIS PHARMACEUTICALS INC | $4.8M | 0.54% | 120,500 | Common | SOLE |
| 00912X302 | AL | AIR LEASE CORP | $4.7M | 0.53% | 73,131 | Common | SOLE |
| 08265TAD1 | BSY 0.375 07/01/27 | BENTLEY SYS INC | $4.7M | 0.53% | 5,000,000 | Common | SOLE |
| 67059NAK4 | NTNX 0.5 12/15/29 | NUTANIX INC | $4.5M | 0.50% | 5,000,000 | Common | SOLE |
| 75737FAE8 | RDFN 0.5 04/01/27 | REDFIN CORP | $4.3M | 0.48% | 4,500,000 | Common | SOLE |
| 40637HAD1 | HALO 0.25 03/01/27 | HALOZYME THERAPEUTICS INC | $3.1M | 0.35% | 3,000,000 | Common | SOLE |
| 00130H105 | AES | AES CORP | $2.6M | 0.29% | 185,833 | Common | SOLE |
| 922280AD4 | VRNS 1 09/15/29 | VARONIS SYS INC | $2.6M | 0.29% | 3,000,000 | Common | SOLE |
| 185123106 | CWAN | CLEARWATER ANALYTICS HLDGS I | $2.6M | 0.29% | 109,589 | Common | SOLE |
| 81211K100 | SDA | SEALED AIR CORP NEW | $2.4M | 0.26% | 56,071 | Common | SOLE |
| 01921D204 | AAUC | ALLIED GOLD CORP | $2.3M | 0.25% | 72,785 | Common | SOLE |
| 68278B107 | K4F | ONESTREAM INC | $2.2M | 0.24% | 91,120 | Common | SOLE |
| 10922N103 | BHF | BRIGHTHOUSE FINL INC | $2.0M | 0.22% | 33,490 | Common | SOLE |
| 63001N106 | NATL | NCR ATLEOS CORPORATION | $1.7M | 0.19% | 38,939 | Common | SOLE |
| 81619Q105 | SEM | SELECT MED HLDGS CORP | $1.7M | 0.19% | 103,467 | Common | SOLE |
| 88362T103 | THR | THERMON GROUP HLDGS INC | $1.7M | 0.19% | 32,987 | Common | SOLE |
| 866683105 | SNCY | SUN CTRY AIRLS HLDGS INC | $1.6M | 0.18% | 98,859 | Common | SOLE |
| 152309100 | CNTA | CENTESSA PHARMACEUTICALS PLC | $1.6M | 0.18% | 41,000 | Common | SOLE |
| 152309950 | CNTA | CENTESSA PHARMACEUTICALS PLC | $1.6M | 0.18% | 41,000 | PUT | SOLE |
| 126349109 | CSN | CSG SYS INTL INC | $1.6M | 0.18% | 20,223 | Common | SOLE |
| 81686C104 | 628 | SEMRUSH HLDGS INC | $1.6M | 0.18% | 133,872 | Common | SOLE |
| 03152W109 | AM6 | AMICUS THERAPEUTIC | $1.5M | 0.17% | 104,066 | Common | SOLE |
| 097023105 | BA | BOEING CO | $1.4M | 0.16% | 7,234 | Common | SOLE |
| 8676EP108 | STKL | SUNOPTA INC | $1.3M | 0.14% | 196,514 | Common | SOLE |
| 74267C106 | PRA | PROASSURANCE CORP | $1.3M | 0.14% | 51,103 | Common | SOLE |
| 138103106 | UTE0 | CANTALOUPE INC | $1.2M | 0.13% | 107,867 | Common | SOLE |
| 18453H106 | CCO | CLEAR CHANNEL OUTDOOR HLDGS | $1.1M | 0.13% | 478,517 | Common | SOLE |
| G4701H109 | IHS | IHS HOLDING LIMITED | $1.1M | 0.13% | 137,615 | Common | SOLE |
| 87427V103 | TALK | TALKSPACE INC | $1.1M | 0.12% | 216,158 | Common | SOLE |
| 60646V105 | MCW | MISTER CAR WASH INC | $1.1M | 0.12% | 156,502 | Common | SOLE |
| 253393102 | DKS | DICKS SPORTING GOODS INC | $1.1M | 0.12% | 5,348 | Common | SOLE |
| 376535AG5 | GLAD 5.875 10/01/30 | GLADSTONE CAP CORP | $967,746 | 0.11% | 1,000,000 | Common | SOLE |
| 127097103 | CTRA | COTERRA ENERGY INC | $959,041 | 0.11% | 27,292 | Common | SOLE |
| 83089J108 | SKYT | SKYWATER TECHNOLOGY INC | $946,632 | 0.11% | 34,536 | Common | SOLE |
| 668074305 | NWE | NORTHWESTERN ENERGY GROUP IN | $912,478 | 0.10% | 13,838 | Common | SOLE |
| 03168L105 | AMRX | AMNEAL PHARMACEUTICALS INC | $850,212 | 0.09% | 68,400 | Common | SOLE |
| 12769G100 | CZR | CAESARS ENTERTAINMENT INC NE | $779,685 | 0.09% | 29,500 | Common | SOLE |
| 902685106 | 7WH | UDEMY INC | $643,728 | 0.07% | 139,335 | Common | SOLE |
| 518439104 | EL | LAUDER ESTEE COS INC | $538,275 | 0.06% | 7,500 | Common | SOLE |
| 707569109 | PENN | PENN ENTERTAINMENT INC | $526,050 | 0.06% | 35,000 | Common | SOLE |
| 128246105 | CVGW | CALAVO GROWERS INC | $524,079 | 0.06% | 20,321 | Common | SOLE |
| 46005L101 | IMXI | INTERNATIONAL MONEY EXPRESS | $523,328 | 0.06% | 33,122 | Common | SOLE |
| 632347100 | NATH | NATHANS FAMOUS INC | $503,046 | 0.06% | 4,994 | Common | SOLE |
| 68339B104 | ONTF | ON24 INC | $488,948 | 0.05% | 60,364 | Common | SOLE |
| 426927109 | XHC | HERITAGE COMM CORP | $474,140 | 0.05% | 37,992 | Common | SOLE |
| 09549B104 | BLFY | BLUE FOUNDRY BANCORP | $472,112 | 0.05% | 35,658 | Common | SOLE |
| 278768106 | SATS | ECHOSTAR CORP | $468,280 | 0.05% | 4,000 | Common | SOLE |
| 343873105 | FFIC | FLUSHING FINL CORP | $463,273 | 0.05% | 30,161 | Common | SOLE |
| 910047109 | UAL | UNITED AIRLS HLDGS INC | $460,350 | 0.05% | 5,000 | Common | SOLE |
| 25264R207 | BVE | DIAMOND HILL INVT GROUP INC | $434,036 | 0.05% | 2,522 | Common | SOLE |
| 32026V104 | FFWM | FIRST FNDTN INC | $398,681 | 0.04% | 67,573 | Common | SOLE |
| 011659109 | ALK | ALASKA AIR GROUP INC | $377,547 | 0.04% | 10,265 | Common | SOLE |
| 69404D108 | PACB | PACIFIC BIOSCIENCES CALIF IN | $359,093 | 0.04% | 272,040 | Common | SOLE |
| 92645B103 | VCTR | VICTORY CAP HLDGS INC DEL | $335,258 | 0.04% | 5,120 | Common | SOLE |
| 92686J106 | VKTX | VIKING THERAPEUTICS INC | $334,511 | 0.04% | 10,280 | Common | SOLE |
| 911312106 | UPS | UNITED PARCEL SVCS INC | $247,918 | 0.03% | 2,520 | Common | SOLE |
| 70450Y103 | PYPL | PAYPAL HLDGS INC | $231,759 | 0.03% | 5,124 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.