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WATER ISLAND CAPITAL LLC

Q3 2025 · Filed 2025-11-14
Market Value
$595M
+16.5%
Holdings
85
+14
New Purchases
43
Added To
6
Closed
31
Reduced
5
Top 10 Concentration
49.6%
Turnover
87.1%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
CYBR 6.97% 0.00% +6.97% $41M
NSC 6.35% 0.00% +6.35% $38M
VRNA 5.21% 0.00% +5.21% $31M
VBTX 4.60% 0.00% +4.60% $27M
GTLS 4.28% 0.00% +4.28% $25M
TGNA 4.18% 0.00% +4.18% $25M
VRNT 4.09% 0.00% +4.09% $24M
PBPB 3.87% 0.00% +3.87% $23M
SNV 3.48% 0.00% +3.48% $21M
AL 3.22% 0.00% +3.22% $19M
MLNK 3.12% 0.00% +3.12% $19M
SPNS 3.05% 0.00% +3.05% $18M
EA 3.00% 0.00% +3.00% $18M
STAA 2.97% 0.00% +2.97% $18M
HBI 2.51% 0.00% +2.51% $15M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AMED 0.00% 10.83% -10.83% $0
ANSS 0.00% 7.79% -7.79% $0
JNPR 0.00% 7.27% -7.27% $0
HES 0.00% 7.07% -7.07% $0
SWTX 0.00% 6.47% -6.47% $0
DNB 0.00% 5.60% -5.60% $0
SKX 0.00% 5.27% -5.27% $0
FL 0.00% 3.73% -3.73% $0
ESGR 0.00% 3.53% -3.53% $0
FARO 0.00% 3.30% -3.30% $0
BPMC 0.00% 2.93% -2.93% $0
PPBI 0.00% 2.20% -2.20% $0
ETWO 0.00% 2.02% -2.02% $0
GMS 0.00% 1.89% -1.89% $0
CTLP 0.29% 2.03% -1.75% $2M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 13 $150M 25.2%
Mid Cap 30 $257M 43.2%
Small Cap 37 $186M 31.3%
Micro Cap 5 $2M 0.3%

Portfolio Analytics

Avg Market Cap
$7.5B
Median Market Cap
$2.0B
Avg P/E
56.2
Median P/E
26.4
Avg Dividend Yield
0.01%
Avg Beta
1.17
# Stocks
85
# ETFs / Funds
0

Top Holdings (85 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 CYBR 6.97% 85,799 $41M $483.15 +85,799 NEW
2 NSC 6.35% 125,799 $38M $300.41 +125,799 NEW
3 VRNA 5.21% 290,182 $31M $106.71 +290,182 NEW
4 AVDX 4.82% 2,882,867 $29M $9.95 $9M +921,533 +47.0%
5 INFA 4.80% 1,149,598 $29M $24.84 $9M +343,370 +42.6%
6 VBTX 4.60% 815,698 $27M $33.53 +815,698 NEW
7 TXNM 4.28% 450,660 $25M $56.55 $11M +188,121 +71.7%
8 GTLS 4.28% 127,171 $25M $200.15 +127,171 NEW
9 TGNA 4.18% 1,223,508 $25M $20.33 +1,223,508 NEW
10 VRNT 4.09% 1,202,967 $24M $20.25 +1,202,967 NEW
11 PBPB 3.87% 1,351,588 $23M $17.04 +1,351,588 NEW
12 SNV 3.48% 421,500 $21M $49.08 +421,500 NEW
13 AL 3.22% 300,677 $19M $63.65 +300,677 NEW
14 MLNK 3.12% 930,234 $19M $19.93 +930,234 NEW
15 SPNS 3.05% 421,434 $18M $43.00 +421,434 NEW
16 EA 3.00% 88,590 $18M $201.70 +88,590 NEW
17 STAA 2.97% 658,317 $18M $26.87 +658,317 NEW
18 HBI 2.51% 2,264,676 $15M $6.59 +2,264,676 NEW
19 CORZ 2.37% 785,446 $14M $17.94 +785,446 NEW
20 DAY 2.13% 183,721 $13M $68.89 +183,721 NEW
21 VMEO 2.03% 1,555,942 $12M $7.75 +1,555,942 NEW
22 MGRC 1.96% 99,363 $12M $117.23 $142K +138 +0.1%
23 PRO 1.90% 492,502 $11M $22.91 +492,502 NEW
24 IAS 1.83% 1,071,160 $11M $10.17 +1,071,160 NEW
25 TECK 1.55% 209,900 $9M $43.89 +209,900 NEW
26 MRUS 1.52% 96,000 $9M $94.15 +96,000 NEW
27 WOW 1.35% 1,558,174 $8M $5.16 +1,558,174 NEW
28 PINC 1.30% 278,420 $8M $27.80 +278,420 NEW
29 PGRE 1.05% 958,918 $6M $6.54 +958,918 NEW
30 PRA 0.85% 210,461 $5M $23.99 -$7M -336,894 -61.5%
31 HOUS 0.81% 456,600 $5M $10.59 +456,600 NEW
32 CVAC 0.69% 762,138 $4M $5.39 -$1M -194,893 -20.4%
33 SAND 0.45% 214,205 $3M $12.52 +214,205 NEW
34 TRML 0.41% 50,968 $2M $47.83 +50,968 NEW
35 LBRDK 0.38% 35,810 $2M $63.54 +35,810 NEW
36 IPG 0.30% 63,104 $2M $27.91 $88K -5,263 -7.7%
37 CTLP 0.29% 160,907 $2M $10.57 -$9M -783,996 -83.0%
38 SCS 0.27% 94,905 $2M $17.20 +94,905 NEW
39 ZIMV 0.23% 72,353 $1M $18.94 +72,353 NEW
40 AMWD 0.21% 18,336 $1M $66.76 +18,336 NEW
41 IMXI 0.20% 86,175 $1M $13.97 +86,175 NEW
42 MTSR 0.16% 18,730 $980K $52.33 +18,730 NEW
43 MRC 0.14% 58,605 $845K $14.42 +58,605 NEW
44 NWE 0.14% 14,303 $838K $58.61 +14,303 NEW
45 CCRN 0.10% 42,897 $609K $14.20 -$165K -16,440 -27.7%
46 SHCO 0.10% 65,542 $580K $8.85 +65,542 NEW
47 PHLT 0.09% 72,772 $563K $7.73 +72,772 NEW
48 BRY 0.09% 142,979 $540K $3.78 +142,979 NEW
49 PVBC 0.08% 40,282 $505K $12.53 $273K +21,709 +116.9%
50 CCRD 0.08% 16,595 $447K $26.92 +16,595 NEW
51 CIO 0.06% 54,317 $378K $6.96 +54,317 NEW
52 HONE 0.05% 22,464 $306K $13.60 $75K +2,748 +13.9%
53 AURA 0.01% 10,372 $64K $6.18 +10,372 NEW
54 PACB 0.01% 35,754 $46K $1.28 +35,754 NEW
55 K —% -$4M -53,318 -100.0% SOLD
56 VERV —% -$4M -335,593 -100.0% SOLD
57 BRDG —% -$804K -80,349 -100.0% SOLD
58 PPBI —% -$11M -532,149 -100.0% SOLD
59 VIAC —% -$7M -567,122 -100.0% SOLD
60 GMS —% -$10M -88,627 -100.0% SOLD
61 VIGL —% -$2M -207,667 -100.0% SOLD
62 AMED —% -$55M -561,814 -100.0% SOLD
63 INZY —% -$807K -201,776 -100.0% SOLD
64 SPTN —% -$8M -302,396 -100.0% SOLD
65 SSBK —% -$262K -7,204 -100.0% SOLD
66 ETWO —% -$10M -3,185,939 -100.0% SOLD
67 FARO —% -$17M -383,836 -100.0% SOLD
68 HRI —% -$343K -2,605 -100.0% SOLD
69 SKX —% -$27M -426,562 -100.0% SOLD
70 FYBR —% -$4M -109,783 -100.0% SOLD
71 SCHN —% -$3M -94,670 -100.0% SOLD
72 BRKL —% -$887K -84,076 -100.0% SOLD
73 RKT —% -$657K -46,367 -100.0% SOLD
74 TGI —% -$6M -220,294 -100.0% SOLD
75 DNB —% -$29M -3,147,738 -100.0% SOLD
76 ANSS —% -$40M -113,285 -100.0% SOLD
77 JNPR —% -$37M -928,961 -100.0% SOLD
78 SWTX —% -$33M -703,525 -100.0% SOLD
79 BASE —% -$9M -363,000 -100.0% SOLD
80 ESGR —% -$18M -53,653 -100.0% SOLD
81 GB —% -$693K -92,725 -100.0% SOLD
82 WBA —% -$7M -593,196 -100.0% SOLD
83 HES —% -$36M -260,459 -100.0% SOLD
84 FL —% -$19M -777,436 -100.0% SOLD
85 BPMC —% -$15M -116,631 -100.0% SOLD

New Positions

SymbolValue% Port
CYBR $41M 6.97%
NSC $38M 6.35%
VRNA $31M 5.21%
VBTX $27M 4.60%
GTLS $25M 4.28%
TGNA $25M 4.18%
VRNT $24M 4.09%
PBPB $23M 3.87%
SNV $21M 3.48%
AL $19M 3.22%
MLNK $19M 3.12%
SPNS $18M 3.05%
EA $18M 3.00%
STAA $18M 2.97%
HBI $15M 2.51%

Sold Out Positions

SymbolValue% Port
RKT —%
HRI —%
ETWO —%
HES —%
JNPR —%
FARO —%
K —%
VIAC —%
ESGR —%
AMED —%
FL —%
SPTN —%
ANSS —%
BPMC —%
BRKL —%
View SEC EDGAR Filings for WATER ISLAND CAPITAL LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms