Funds › Water Island Capital LLC
Water Island Capital LLC
13F for Q3 2026, filed Nov 13, 2026. 69 positions worth $1.0B.Managers with more than $100 million in US-listed stocks list their holdings each quarter, within 45 days of quarter end. Long positions only: no short sales or cash.
Latest report
Q3 2026
filed Nov 13, 2026
Reported value
$1.0B
−$66.1M (6.1%) vs Q2 2026
Positions
69
68 in Q2 2026
Top 10 share
47.8%
of reported value
CheckedEach line's price per share is checked against other managers' reports of the same stock. Unit mix-ups are corrected. Reports no fix can rescue are left out.
Clean
prices match other managers' reports
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Holdings, Q3 2026
Largest first. Common shares only; puts and calls are under All positions.
| # | The fund's own figures at the end of the quarter. A report can be up to 45 days old when it is filed. Options and bonds are not counted here. | Filing | ||||
|---|---|---|---|---|---|---|
| 1 | PEN Penumbra, Inc. | 209,813 | $66.8M | 6.6% | +39.5% | 13F ↗ |
| 2 | Warner Bros Discovery Inc | 1.89M | $58.4M | 5.8% | +8.4% | 13F ↗ |
| 3 | TXNM TXNM Energy, Inc. | 951,482 | $55.5M | 5.5% | +29.0% | 13F ↗ |
| 4 | SLAB Silicon Laboratories, Inc. | 224,925 | $49.8M | 4.9% | +51.8% | 13F ↗ |
| 5 | CZR Caesars Entertainment, Inc. | 1.63M | $48.3M | 4.8% | +24.0% | 13F ↗ |
| 6 | RAMP LiveRamp Holdings, Inc. | 1.24M | $46.6M | 4.6% | +54.1% | 13F ↗ |
| 7 | NSC Norfolk Southern Corporation | 137,392 | $42.5M | 4.2% | -6.1% | 13F ↗ |
| 8 | TECH Bio-Techne Corp | 532,492 | $38.6M | 3.8% | +58.6% | 13F ↗ |
| 9 | D Dominion Energy, Inc. | 633,590 | $38.3M | 3.8% | +66.2% | 13F ↗ |
| 10 | Arcosa Inc | 258,172 | $37.7M | 3.7% | +48.7% | 13F ↗ |
| 11 | ROKU Roku Inc | 233,463 | $35.6M | 3.5% | +41.6% | 13F ↗ |
| 12 | ITGR Integer Holdings Corporation | 242,132 | $30.6M | 3.0% | New | 13F ↗ |
| 13 | LXP Lxp Industrial Trust | 496,229 | $30.2M | 3.0% | New | 13F ↗ |
| 14 | Beazer Homes USA Inc | 859,281 | $28.7M | 2.8% | New | 13F ↗ |
| 15 | MKTX MarketAxess Holdings, Inc. | 172,309 | $28.2M | 2.8% | New | 13F ↗ |
| 16 | Biolife Solutions Inc | 716,005 | $27.8M | 2.8% | New | 13F ↗ |
| 17 | DV DoubleVerify Holdings, Inc. | 1.64M | $22.2M | 2.2% | New | 13F ↗ |
| 18 | ARX Accelerant Holdings | 1.07M | $21.1M | 2.1% | New | 13F ↗ |
| 19 | Acv Auctions Inc | 1.83M | $19.1M | 1.9% | New | 13F ↗ |
| 20 | HZO MarineMax, Inc. | 330,597 | $17.3M | 1.7% | New | 13F ↗ |
| 21 | Atkore Inc | 182,000 | $17.2M | 1.7% | New | 13F ↗ |
| 22 | UTZ Utz Brands Inc | 1.20M | $17.1M | 1.7% | New | 13F ↗ |
| 23 | VREX Varex Imaging Corporation | 914,089 | $16.9M | 1.7% | New | 13F ↗ |
| 24 | BWMN Bowman Consulting Group Ltd. | 385,902 | $16.5M | 1.6% | New | 13F ↗ |
| 25 | LNTH Lantheus Holdings, Inc. · Commonstock | 149,440 | $14.9M | 1.5% | New | 13F ↗ |
| 26 | ESI Element Solutions Inc. | 328,805 | $11.9M | 1.2% | New | 13F ↗ |
| 27 | KVUE Kenvue Inc | 666,514 | $11.8M | 1.2% | +65.8% | 13F ↗ |
| 28 | WEAV Weave Communications Inc | 1.35M | $9.9M | 1.0% | New | 13F ↗ |
| 29 | Alphabet Inc Dep Shs RP1/20 A | 85,000 | $4.2M | 0.4% | Unchanged | 13F ↗ |
| 30 | AES The AES Corporation | 162,813 | $2.4M | 0.2% | -2.8% | 13F ↗ |
| 31 | GSAT Globalstar, Inc. | 28,974 | $2.4M | 0.2% | -5.5% | 13F ↗ |
| 32 | Qorvo Inc | 17,952 | $2.1M | 0.2% | -5.8% | 13F ↗ |
| 33 | CBZ Cbiz Inc | 36,977 | $2.0M | 0.2% | New | 13F ↗ |
| 34 | BWIN The Baldwin Insurance Group, Inc. | 60,862 | $1.9M | 0.2% | New | 13F ↗ |
| 35 | OGN Organon & Co. | 138,548 | $1.9M | 0.2% | -89.9% | 13F ↗ |
| 36 | SYNA Synaptics Incorporated | 18,651 | $1.9M | 0.2% | New | 13F ↗ |
| 37 | IRDM Iridium Communications Inc | 38,497 | $1.8M | 0.2% | New | 13F ↗ |
| 38 | DKS Dick's Sporting Goods Inc | 13,600 | $1.8M | 0.2% | +2167% | 13F ↗ |
| 39 | UNF Unifirst Corporation | 7,049 | $1.8M | 0.2% | -22.1% | 13F ↗ |
| 40 | VKTX Viking Therapeutics, Inc. | 46,800 | $1.5M | 0.2% | +212% | 13F ↗ |
| 41 | PAYO Payoneer Global Inc. | 211,481 | $1.5M | 0.1% | -18.1% | 13F ↗ |
| 42 | NATL NCR Atleos Corporation · Comm | 33,263 | $1.5M | 0.1% | -20.5% | 13F ↗ |
| 43 | Clear Channel Outdoor Holdings | 618,232 | $1.5M | 0.1% | +21.7% | 13F ↗ |
| 44 | BHF Brighthouse Financial, Inc. | 27,514 | $1.4M | 0.1% | -2.9% | 13F ↗ |
| 45 | BA Boeing Company | 7,300 | $1.4M | 0.1% | +109% | 13F ↗ |
| 46 | BIRK Birkenstock Holding plc | 40,050 | $1.3M | 0.1% | New | 13F ↗ |
| 47 | EQT EQT Corporation | 26,100 | $1.3M | 0.1% | +4.4% | 13F ↗ |
| 48 | CCJ Cameco Corporation | 13,100 | $1.1M | 0.1% | New | 13F ↗ |
| 49 | SAFT Safety Insurance Group, Inc. | 10,107 | $1.0M | 0.1% | New | 13F ↗ |
| 50 | EQH Equitable Holdings, Inc. | 17,430 | $893.6K | 0.1% | -15.8% | 13F ↗ |
Showing the top 50 of 69 positions. Premium lists every position, plus puts and calls.
Changes since Q2 2026
32 new, 19 added to, 17 trimmed, 31 exited, 1 unchanged. By estimated dollars.
New positions (32)
| ITGR Integer Holdings Corporation | 242,132 | New | $30.6M |
| LXP Lxp Industrial Trust | 496,229 | New | $30.2M |
| Beazer Homes USA Inc | 859,281 | New | $28.7M |
| MKTX MarketAxess Holdings, Inc. | 172,309 | New | $28.2M |
| Biolife Solutions Inc | 716,005 | New | $27.8M |
| DV DoubleVerify Holdings, Inc. | 1.64M | New | $22.2M |
| ARX Accelerant Holdings | 1.07M | New | $21.1M |
| Acv Auctions Inc | 1.83M | New | $19.1M |
| HZO MarineMax, Inc. | 330,597 | New | $17.3M |
| Atkore Inc | 182,000 | New | $17.2M |
Added to (19)
| PEN Penumbra, Inc. | 209,813 | +39.5% | $18.9M |
| SLAB Silicon Laboratories, Inc. | 224,925 | +51.8% | $17.0M |
| RAMP LiveRamp Holdings, Inc. | 1.24M | +54.1% | $16.3M |
| D Dominion Energy, Inc. | 633,590 | +66.2% | $15.3M |
| TECH Bio-Techne Corp | 532,492 | +58.6% | $14.3M |
| TXNM TXNM Energy, Inc. | 951,482 | +29.0% | $12.5M |
| Arcosa Inc | 258,172 | +48.7% | $12.4M |
| ROKU Roku Inc | 233,463 | +41.6% | $10.4M |
| CZR Caesars Entertainment, Inc. | 1.63M | +24.0% | $9.4M |
| KVUE Kenvue Inc | 666,514 | +65.8% | $4.7M |
Trimmed (17)
| OGN Organon & Co. | 138,548 | -89.9% | -$16.9M |
| NSC Norfolk Southern Corporation | 137,392 | -6.1% | -$2.7M |
| IHS IHS Holding Limited | 64,518 | -57.1% | -$716.6K |
| PACB Pacific Biosciences of California, Inc. | 50,000 | -81.7% | -$530.1K |
| UNF Unifirst Corporation | 7,049 | -22.1% | -$500.0K |
| NATL NCR Atleos Corporation · Comm | 33,263 | -20.5% | -$388.4K |
| PAYO Payoneer Global Inc. | 211,481 | -18.1% | -$333.7K |
| SKYW SkyWest, Inc. | 3,750 | -46.4% | -$315.0K |
| ECHO EchoStar Corporation | 6,250 | -26.5% | -$201.2K |
| EQH Equitable Holdings, Inc. | 17,430 | -15.8% | -$167.7K |
Exited (31)
| Taylor Morrison Home Corp | 727,492 | Exited | -$52.2M |
| Electronic Arts Inc | 252,932 | Exited | -$51.9M |
| Chart Industries Inc | 237,599 | Exited | -$49.6M |
| Janus Henderson Group plc | 890,916 | Exited | -$46.3M |
| Webster Financial Corp | 437,210 | Exited | -$33.4M |
| National Storage Affiliates Reit | 728,454 | Exited | -$32.4M |
| Catalyst Pharmaceuticals Inc | 933,819 | Exited | -$29.3M |
| Whitestone REIT | 1.23M | Exited | -$23.3M |
| Topbuild Corp | 51,251 | Exited | -$21.8M |
| Digitalbridge Group Inc | 1.38M | Exited | -$21.7M |
The 10 largest of each, by estimated dollars: shares changed times the later report's price. Index tracking, splits and mergers move positions too.
All positions
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Reported value by quarter
Value and number of positions at the end of each quarter.
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Largest positions in earlier quarters
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Ten largest positions
By value, Q3 2026.
Filings
| Filing | ||||||
|---|---|---|---|---|---|---|
| Q3 2026 | Nov 13, 2026 | 13F-HR | 81 | $1.0B | Current | SEC ↗ |
| Q2 2026 | Aug 14, 2026 | 13F-HR | 85 | $1.1B | Current | SEC ↗ |
| Q1 2026 | May 15, 2026 | 13F-HR | 98 | $895.6M | Current | SEC ↗ |
| Q4 2025 | Feb 17, 2026 | 13F-HR | 91 | $927.6M | Current | SEC ↗ |
| Q3 2025 | Nov 14, 2025 | 13F-HR | 84 | $793.3M | Current | SEC ↗ |
| Q2 2025 | Aug 14, 2025 | 13F-HR | 76 | $702.0M | Current | SEC ↗ |
| Q1 2025 | May 15, 2025 | 13F-HR | 84 | $764.1M | Current | SEC ↗ |
Most recent first, up to 80. An amendment can replace a report or add holdings to it. All 13F filings
Information, not investment advice. Values are the fund's own figures at quarter end; a report can be up to 45 days old when filed. Disclaimer