WATER ISLAND CAPITAL LLC
13F Reported Value
ⓘ$1.1B
incl. option notional
Equity Holdings
ⓘ$944.9M
Option Notional
ⓘ$130.2M
$82.8M puts / $47.4M calls
Holdings
85
Latest Filing
2026-06-30
Filing Quarter
Q2 2026
Portfolio Overview
WATER ISLAND CAPITAL LLC disclosed 85 positions worth $1.1B in its Form 13F-HR for Q2 2026 — $944.9M in common stock plus $130.2M of put/call option positions (reported at underlying notional value, not premium at risk), led by $TMHC (Taylor Morrison Home Corp) at 5.5% of the equity portfolio, followed by $EA and $GTLS. During the quarter the fund opened 44 new positions and exited 57 — including a new stake in $TMHC and a full exit from $HOLX. The portfolio is most concentrated in Industrials (21.9% of disclosed assets). All figures are sourced directly from WATER ISLAND CAPITAL LLC’s Form 13F-HR filing with the SEC under CIK 1222765.
AI Fund Analysis
DiversifyingSector Allocation
AUM History
Top Equity Holdings by Value
Option Positions
13F rules report options at the value of the underlying shares (notional) — not the premium paid or capital at risk. Shown separately from the equity sleeve above.
Quarterly Activity — Q2 2026
Click any card to unlockTop Holdings
- 51.8#1,509
Quality
$52.2M727,492 sh - 62.9#671
Quality
$51.9M252,932 sh - 49.0#1,684
Quality
$49.6M237,599 sh - 67.1
Quality
$47.5M150,456 sh - 41.4
Quality
$46.4M1,740,468 sh - —
Quality
$46.3M890,916 sh - 63.2
Quality
$46.0M146,283 sh - 52.8
Quality
$41.9M737,734 sh - 41.4
Quality
$40.7M1,525,200 sh - 44.5
Quality
$39.6M1,313,074 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
 Taylor Morrison Home Corp$TMHC | 51.8#1,509 | $52.2M | 727,492 |
 ELECTRONIC ARTS INC.$EA | 62.9#671 | $51.9M | 252,932 |
 CHART INDUSTRIES INC$GTLS | 49.0#1,684 | $49.6M | 237,599 |
 Penumbra Inc$PEN | 67.1 | $47.5M | 150,456 |
 Warner Bros. Discovery, Inc.$WBD | 41.4 | $46.4M | 1,740,468 |
 Janus Henderson Group Ltd.$JHG | — | $46.3M | 890,916 |
 NORFOLK SOUTHERN CORP$NSC | 63.2 | $46.0M | 146,283 |
 TXNM ENERGY INC$TXNM | 52.8 | $41.9M | 737,734 |
| Warner Bros. Discovery, Inc.$WBDPUT | 41.4 | $40.7M | 1,525,200 |
 Caesars Entertainment, Inc.$CZR | 44.5 | $39.6M | 1,313,074 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of WATER ISLAND CAPITAL LLC's 85 positions.
Showing top 10 of 85 holdings.
Sector Allocation
Industrials
$206.8M
Healthcare
$180.4M
Technology
$142.4M
Financials
$119.2M
Utilities
$79.2M
Real Estate
$74.6M
Communication Services
$73.8M
Consumer Discretionary
$45.2M
Full Holdings — WATER ISLAND CAPITAL LLC (Q2 2026)
All 85 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | $TMHC | Taylor Morrison Home Corp | $52.2M | 5.5% | NEW | 51.8 |
| 2 | $EA | ELECTRONIC ARTS INC. | $51.9M | 5.5% | +1% | 62.9 |
| 3 | $GTLS | CHART INDUSTRIES INC | $49.6M | 5.3% | +25% | 49 |
| 4 | $PEN | Penumbra Inc | $47.5M | 5.0% | +25% | 67.1 |
| 5 | $WBD | Warner Bros. Discovery, Inc. | $46.4M | 4.9% | +8% | 41.4 |
| 6 | $JHG | Janus Henderson Group Ltd. | $46.3M | 4.9% | -3% | — |
| 7 | $NSC | NORFOLK SOUTHERN CORP | $46.0M | 4.9% | +9% | 63.2 |
| 8 | $TXNM | TXNM ENERGY INC | $41.9M | 4.4% | +9% | 52.8 |
| 9 | $WBDPUT | Warner Bros. Discovery, Inc. | $40.7M | — | +45% | 41.4 |
| 10 | $CZR | Caesars Entertainment, Inc. | $39.6M | 4.2% | +4351% | 44.5 |
| 11 |  $SPYCALL | SPDR S&P 500 ETF TRUST | $33.6M | — | NEW | — |
| 12 |  $WBS | WEBSTER FINANCIAL CORP | $33.4M | 3.5% | +5% | 63.3 |
| 13 |  $NSA | National Storage Affiliates Trust | $32.4M | 3.4% | +26% | 49.2 |
| 14 |  $SLAB | SILICON LABORATORIES INC. | $32.4M | 3.4% | +154% | 41.2 |
| 15 |  $RAMP | LiveRamp Holdings, Inc. | $30.3M | 3.2% | NEW | 61.3 |
| 16 |  $CPRX | CATALYST PHARMACEUTICALS, INC. | $29.3M | 3.1% | NEW | 74 |
| 17 |  $D | DOMINION ENERGY, INC | $26.0M | 2.8% | NEW | 69.9 |
| 18 |  $ACA | Arcosa, Inc. | $25.2M | 2.7% | NEW | 60.2 |
| 19 |  $TECH | BIO-TECHNE Corp | $23.7M | 2.5% | NEW | 58.9 |
| 20 |  $WSR | Whitestone REIT | $23.3M | 2.5% | NEW | 58.8 |
| 21 |  $ROKU | ROKU, INC | $22.8M | 2.4% | NEW | 66.7 |
| 22 |  $BLD | QXO Insulation, LLC | $21.8M | 2.3% | NEW | 56.4 |
| 23 |  $DBRG | DigitalBridge Group, Inc. | $21.7M | 2.3% | +6% | 36.5 |
| 24 |  $AVNS | AVANOS MEDICAL, INC. | $19.9M | 2.1% | NEW | 36.1 |
| 25 |  $SILA | Sila Realty Trust, Inc. | $18.9M | 2.0% | NEW | 57.4 |
| 26 |  $OGN | Organon & Co. | $18.6M | 2.0% | NEW | 50.5 |
| 27 |  $STEL | Stellar Bancorp, Inc. | $15.1M | 1.6% | -11% | 37.4 |
| 28 | $OGNPUT | Organon & Co. | $13.2M | — | NEW | 50.5 |
| 29 |  $NUVL | Nuvalent, Inc. | $12.8M | 1.4% | NEW | — |
| 30 |  $APGE | Apogee Therapeutics, Inc. | $12.6M | 1.3% | NEW | — |
| 31 | $SPYPUT | SPDR S&P 500 ETF TRUST | $11.2M | — | NEW | — |
| 32 | $NUVLPUT | Nuvalent, Inc. | $10.4M | — | NEW | — |
| 33 | $NUVLCALL | Nuvalent, Inc. | $10.4M | — | NEW | — |
| 34 |  $XOMA | XOMA Royalty Corp | $10.3M | 1.1% | NEW | 69.7 |
| 35 | $TXNM | TXNM ENERGY INC | $7.8M | 0.8% | +0% | 52.8 |
| 36 |  $RPD | Rapid7, Inc. | $7.8M | 0.8% | +55% | 48.3 |
| 37 |  $KVUE | Kenvue Inc. | $7.7M | 0.8% | -43% | 60.3 |
| 38 | — | VARONIS SYS INC - Convertible Bond | $4.9M | 0.5% | +67% | — |
| 39 |  $BSY | BENTLEY SYSTEMS INC | $4.8M | 0.5% | +0% | 67.9 |
| 40 |  $ETSY | ETSY INC | $4.7M | 0.5% | NEW | 61.2 |
| 41 | $RAMPPUT | LiveRamp Holdings, Inc. | $4.4M | — | NEW | 61.3 |
| 42 |  $GOOG | Alphabet Inc. | $4.3M | 0.5% | NEW | 78.2 |
| 43 | — | REDFIN CORP - Convertible Bond | $4.3M | 0.5% | +0% | — |
| 44 |  $SNAP | Snap Inc | $4.1M | 0.4% | NEW | 56.2 |
| 45 |  $QXOCALL | QXO, Inc. | $3.5M | — | NEW | 49 |
| 46 |  $AXTA | Axalta Coating Systems Ltd. | $3.3M | 0.3% | -53% | — |
| 47 |  $GSAT | Globalstar, Inc. | $2.5M | 0.3% | NEW | 52.5 |
| 48 |  $AES | AES CORP | $2.5M | 0.3% | -10% | 58.6 |
| 49 |  $UNF | UNIFIRST CORP | $2.4M | 0.3% | -65% | 48 |
| 50 | $APGEPUT | Apogee Therapeutics, Inc. | $2.3M | — | NEW | — |
| 51 |  $ESPR | Esperion Therapeutics, Inc. | $1.9M | 0.2% | NEW | 46.3 |
| 52 |  $PAYO | Payoneer Global Inc. | $1.8M | 0.2% | NEW | 53.5 |
| 53 |  $NATL | NCR Atleos Corp | $1.8M | 0.2% | +8% | 51.5 |
| 54 |  $BHF | Brighthouse Financial, Inc. | $1.8M | 0.2% | -15% | 68.4 |
| 55 |  $QRVO | Qorvo, Inc. | $1.8M | 0.2% | NEW | 59.1 |
| 56 |  $AAUC | Allied Gold Corp | $1.7M | 0.2% | +0% | — |
| 57 |  $SEM | SELECT MEDICAL HOLDINGS CORP | $1.4M | 0.1% | -20% | 48.7 |
| 58 |  $EQT | EQT Corp | $1.3M | 0.1% | NEW | 83.7 |
| 59 |  $TALK | Talkspace, Inc. | $1.3M | 0.1% | +12% | 50.5 |
| 60 |  $GBTG | Global Business Travel Group, Inc. | $1.3M | 0.1% | NEW | 57.6 |
| 61 |  $IHS | IHS Holding Ltd | $1.2M | 0.1% | +9% | — |
| 62 |  $CCO | Clear Channel Outdoor Holdings, Inc. | $1.2M | 0.1% | +6% | 42.7 |
| 63 |  $HONA | Honeywell Aerospace Inc. | $1.1M | 0.1% | NEW | — |
| 64 |  $NWE | NorthWestern Energy Group, Inc. | $976,395 | 0.1% | -1% | 46.9 |
| 65 |  $EQH | Equitable Holdings, Inc. | $908,360 | 0.1% | NEW | 39.5 |
| 66 |  $ECHO | EchoStar CORP | $862,750 | 0.1% | +113% | 32.8 |
| 67 |  $BA | BOEING CO | $757,645 | 0.1% | -52% | 61.6 |
| 68 |  $PVH | PVH CORP. /DE/ | $742,600 | 0.1% | NEW | 48.4 |
| 69 |  $SKYW | SKYWEST INC | $695,310 | 0.1% | NEW | 69.4 |
| 70 |  $CCRN | CROSS COUNTRY HEALTHCARE INC | $655,375 | 0.1% | NEW | 26.6 |
| 71 |  $VRNSPUT | VARONIS SYSTEMS INC | $629,400 | — | NEW | 46.2 |
| 72 |  $TBRG | TruBridge, Inc. | $609,409 | 0.1% | NEW | 51.1 |
| 73 |  $IMXI | International Money Express, Inc. | $608,923 | 0.1% | +27% | 36.8 |
| 74 |  $SLP | Simulations Plus, Inc. | $608,588 | 0.1% | NEW | 55.2 |
| 75 |  $NATH | NATHANS FAMOUS, INC. | $596,494 | 0.1% | +18% | 51.8 |
| 76 |  $VKTX | Viking Therapeutics, Inc. | $585,150 | 0.1% | +46% | — |
| 77 |  $ALK | ALASKA AIR GROUP, INC. | $574,200 | 0.1% | +7% | 61.3 |
| 78 |  $HON | HONEYWELL INTERNATIONAL INC | $559,750 | 0.1% | NEW | 65 |
| 79 |  $PACB | PACIFIC BIOSCIENCES OF CALIFORNIA, INC. | $459,759 | 0.1% | +1% | 17.1 |
| 80 |  $AURA | Aura Biosciences, Inc. | $426,000 | 0.1% | NEW | — |
| 81 |  $ALOT | AstroNova, Inc. | $340,843 | 0.0% | NEW | 45.9 |
| 82 |  $UAL | United Airlines Holdings, Inc. | $339,975 | 0.0% | -50% | 60.8 |
| 83 |  $VFC | V F CORP | $250,200 | 0.0% | NEW | 49.8 |
| 84 |  $PENN | PENN Entertainment, Inc. | $213,600 | 0.0% | -71% | 41.2 |
| 85 |  $DKS | DICK'S SPORTING GOODS, INC. | $136,086 | 0.0% | -89% | 63 |
New Positions (44)
$TMHC Taylor Morrison Home Corp$52.2M$SPYCALL SPDR S&P 500 ETF TRUST$33.6M$RAMP LiveRamp Holdings, Inc.$30.3M$CPRX CATALYST PHARMACEUTICALS, INC.$29.3M$D DOMINION ENERGY, INC$26.0M$ACA Arcosa, Inc.$25.2M$TECH BIO-TECHNE Corp$23.7M$WSR Whitestone REIT$23.3M$ROKU ROKU, INC$22.8M$BLD QXO Insulation, LLC$21.8M$AVNS AVANOS MEDICAL, INC.$19.9M$SILA Sila Realty Trust, Inc.$18.9M$OGN Organon & Co.$18.6M$OGNPUT Organon & Co.$13.2M$NUVL Nuvalent, Inc.$12.8MExited Positions (57)
$HOLX HOLOGIC INC
$MASI MASIMO CORP$EAPUT ELECTRONIC ARTS INC.
$TPH Tri Pointe Homes, Inc.
$GLDD Great Lakes Dredge & Dock CORP
$ACLX Arcellx, Inc.
$DAWN Day One Biopharmaceuticals, Inc.
$EHAB Enhabit, Inc.$KVUEPUT Kenvue Inc.
$VRE Veris Residential, Inc.
$PKST Peakstone Realty Trust
$TERN Terns Pharmaceuticals, Inc.$TERNPUT Terns Pharmaceuticals, Inc.$SLABPUT SILICON LABORATORIES INC.Browse Top Institutional Investors
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