Water Island Capital LLC
Annual return '25
+22.1%
SPY '25
+17.7%
Alpha
+4.4ptsvs SPY
Invested
$895.6M
Holdings
86
Trades YTD
0
Performance · Fund vs SPY
Cumulative return · quarterly snapshotsCoverage 96%. 3 quarters of 2025 measured against SPY adj-close benchmark.
Top holdings · current snapshot
Source: 13F-HR01
$EA
ELECTRONIC ARTS INC
Q4 2025: Exited (was 88.6k shares)
6.8%
02
$JHG
JANUS HENDERSON GROUP PLC
Held since at least Q1 2024
6.3%
03
$WBD
WARNER BROS DISCOVERY INC
Held since at least Q1 2024
5.9%
04
$HOLX
HOLOGIC INC
Held since at least Q1 2024
5.6%
05
$TXNM
TXNM ENERGY INC
Q4 2025: Exited (was 450.7k shares)
5.3%
06
$PEN
PENUMBRA INC
Held since at least Q1 2024
5.3%
07
$GTLS
CHART INDS INC
Q4 2025: Exited (was 127.2k shares)
5.2%
08
$NSC
NORFOLK SOUTHN CORP
Q4 2025: Exited (was 125.8k shares)
5.1%
09
$MASI
MASIMO CORP
Held since at least Q1 2024
4.6%
10
$WBS
WEBSTER FINL CORP
Held since at least Q1 2024
3.8%
Recent trades · Last 90 days
No Form 4 / 13D / 13G trade events on file in the recent window. 13F filers report position snapshots quarterly rather than per-trade events, so this section is most useful for managers who also file Form 4 or 13D/G.
Convergence · Pattern Engine ships in v1.1
30-day windowIn development
Convergence participation lands with the Pattern Engine.
Once the Pattern Engine ships, this section will list every active convergence event this fund is named in — with the other named funds, the Congress members on the same name, and combined position size.
Source data: SEC EDGAR · 13F-HR filings · Performance through 2025-12-31 · Last refreshed 12:10 UTC.