WATER ISLAND CAPITAL LLC

Q1 2026 13F-HR Holdings

Location
New York, NY
Holdings as of
3/31/2026
Date filed
5/15/2026
Form type
13F-HR
Num holdings
98
Total value ($000)
$895,645
Net value change ($000)
-31,956 (-3.4%)
New positions
51
Sold out positions
34
Turnover %
102.4%
Sector allocation + QoQ delta (equities-only)
Prev filing: 2/17/2026 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q4 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
PEN 39,436 NEW
MASI 34,542 NEW
WBS 28,866 NEW
TPH 25,064 NEW
NSA 21,747 NEW
GLDD 21,481 NEW
ACLX 21,059 NEW
DAWN 20,245 NEW
JANUS HENDERSON GROUP PLC 16,576 53.8%
STEL 15,787 NEW
Top Reduces (Value $000, Stocks/ETFs)
CYBR -38,650 -100.0%
EXAS -35,547 -100.0%
CMA -34,601 -100.0%
CDTX -33,290 -100.0%
AVDL -23,427 -100.0%
TGNA -22,902 -100.0%
AHL -21,247 -100.0%
SEE -20,811 -89.8%
SNV -20,203 -100.0%
CFLT -19,357 -100.0%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 145,524 (16.2% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type