WATER ISLAND CAPITAL LLC Hedge Fund

Location: New York, NY

CIK: 0001222765 · Show all filings

Period: Q4 2025 (← Previous) (Next →)

Filing Date: Feb 17, 2026

Total Value: $928M (94.3% shares, 5.7% debt)

Holdings (91)

GTLS Chart Industries Inc 4.2%
Value $38.84M Shares 188,325 Est. Cost $194.13 Unrealized +4.4%
CyberArk Software Ltd 4.2%
Value $38.65M Shares 86,648 Est. Cost $483.15 Unrealized
NSC Norfolk Southern Corp 4.0%
Value $37.26M Shares 129,043 Est. Cost $276.35 Unrealized +4.4%
EA Electronic Arts Inc 4.0%
Value $36.95M Shares 180,838 Est. Cost $183.85 Unrealized +9.7%
EXAS Exact Sciences Corp 3.8%
Value $35.55M Shares 350,009 Est. Cost $80.31 Unrealized 0.0%
HOLX Hologic Inc 3.8%
Value $34.84M Shares 467,742 Est. Cost $73.07 Unrealized 0.0%
CMA Comerica Inc 3.7%
Value $34.6M Shares 398,037 Est. Cost $79.98 Unrealized 0.0%
TXNM TXNM Energy Inc 3.7%
Value $33.94M Shares 576,411 Est. Cost $55.91 Unrealized +3.2%
Cidara Therapeutics Inc 3.6%
Value $33.29M Shares 150,708 Est. Cost $220.89 Unrealized
WBD Warner Bros Discovery Inc 3.5%
Value $32.84M Shares 1,139,634 Est. Cost $23.37 Unrealized 0.0%
JHG Janus Henderson Group PLC 3.3%
Value $30.8M Shares 647,485 Est. Cost $44.24 Unrealized 0.0%
Avadel Pharmaceuticals PLC 2.5%
Value $23.43M Shares 1,087,117 Est. Cost $21.55 Unrealized
SEE Sealed Air Corp 2.5%
Value $23.17M Shares 559,237 Est. Cost $38.57 Unrealized 0.0%
TGNA TEGNA Inc 2.5%
Value $22.9M Shares 1,179,885 Est. Cost $19.06 Unrealized +3.7%
Aspen Insurance Holdings Ltd 2.3%
Value $21.25M Shares 572,685 Est. Cost $32.87 Unrealized +12.2%
CWAN Clearwater Analytics Holdings 2.3%
Value $21.12M Shares 875,632 Est. Cost $20.03 Unrealized 0.0%
Synovus Financial Corp 2.2%
Value $20.2M Shares 403,650 Est. Cost $49.08 Unrealized
CFLT Confluent Inc 2.1%
Value $19.36M Shares 640,113 Est. Cost $24.55 Unrealized 0.0%
AL Air Lease Corp 2.1%
Value $19.17M Shares 298,440 Est. Cost $59.40 Unrealized +7.2%
State Street SPDR S&P 500 ETF 1.8%
Value $17.05M Shares 25,000 Est. Cost Unrealized
Cidara Therapeutics Inc 1.8%
Value $16.99M Shares 76,900 Est. Cost Unrealized
DBRG DigitalBridge Group Inc 1.5%
Value $14.25M Shares 929,000 Est. Cost $12.01 Unrealized 0.0%
Teck Resources Ltd 1.5%
Value $13.99M Shares 292,100 Est. Cost Unrealized
Jamf Holding Corp 1.4%
Value $12.82M Shares 985,069 Est. Cost $13.01 Unrealized
CADE Cadence Bank 1.4%
Value $12.75M Shares 297,603 Est. Cost $39.41 Unrealized 0.0%
Hillenbrand Inc 1.4%
Value $12.66M Shares 399,006 Est. Cost $31.72 Unrealized
PLYM Plymouth Industrial REIT Inc 1.3%
Value $12.24M Shares 559,215 Est. Cost $21.88 Unrealized
Avidity Biosciences Inc 1.3%
Value $12.17M Shares 168,700 Est. Cost Unrealized
RNAM Avidity Biosciences Inc 1.3%
Value $12.15M Shares 168,385 Est. Cost $64.59 Unrealized 0.0%
Kenvue Inc 1.3%
Value $11.99M Shares 695,000 Est. Cost Unrealized
KVUE Kenvue Inc 1.3%
Value $11.91M Shares 690,191 Est. Cost $16.26 Unrealized 0.0%
CSGS CSG Systems International Inc 1.2%
Value $11.56M Shares 150,720 Est. Cost $73.52 Unrealized 0.0%
FOLD Amicus Therapeutics Inc 1.1%
Value $10.06M Shares 706,617 Est. Cost $9.82 Unrealized 0.0%
Hillenbrand Inc 1.1%
Value $9.992M Shares 315,000 Est. Cost Unrealized
Dynavax Technologies Corp 1.0%
Value $9.386M Shares 610,261 Est. Cost $15.38 Unrealized
QRVO Qorvo Inc 1.0%
Value $9.256M Shares 109,521 Est. Cost $88.25 Unrealized 0.0%
FRGE Forge Global Holdings Inc 0.9%
Value $8.782M Shares 197,075 Est. Cost $33.80 Unrealized 0.0%
Astria Therapeutics Inc 0.9%
Value $8.061M Shares 615,790 Est. Cost $13.09 Unrealized
SEMR SEMrush Holdings Inc 0.8%
Value $7.474M Shares 628,602 Est. Cost $9.37 Unrealized 0.0%
AXTA Axalta Coating Systems Ltd 0.7%
Value $6.647M Shares 205,722 Est. Cost $29.34 Unrealized 0.0%
Amicus Therapeutics Inc 0.7%
Value $6.422M Shares 451,000 Est. Cost Unrealized
Anywhere Real Estate Inc 0.7%
Value $6.299M Shares 444,821 Est. Cost $10.59 Unrealized
CSG SYSTEMS INTERNATIONA 0.6%
Value $5.967M Shares 5,000,000 Est. Cost $1.19 Unrealized
SPOTIFY USA INC 0.6%
Value $5.675M Shares 5,000,000 Est. Cost $1.05 Unrealized
BOEING CO/THE 0.6%
Value $5.525M Shares 80,000 Est. Cost $60.89 Unrealized
ALEX Alexander & Baldwin Inc 0.6%
Value $5.429M Shares 263,012 Est. Cost $20.64 Unrealized
RAPID7 INC 0.5%
Value $5.1M Shares 5,501,530 Est. Cost $0.92 Unrealized
CONFLUENT INC 0.5%
Value $4.855M Shares 5,000,000 Est. Cost $0.97 Unrealized
BENTLEY SYSTEMS 0.5%
Value $4.712M Shares 5,000,000 Est. Cost $0.91 Unrealized
Hologic Inc 0.5%
Value $4.514M Shares 60,600 Est. Cost Unrealized
EB Eventbrite Inc 0.5%
Value $4.395M Shares 987,653 Est. Cost $3.10 Unrealized 0.0%
Kimberly-Clark Corp 0.5%
Value $4.258M Shares 42,200 Est. Cost Unrealized
REDFIN CORP 0.5%
Value $4.218M Shares 4,500,000 Est. Cost $0.88 Unrealized
TXNM ENERGY INC 0.4%
Value $4.038M Shares 3,000,000 Est. Cost $1.30 Unrealized
NUTANIX INC 0.4%
Value $3.377M Shares 3,500,000 Est. Cost $0.96 Unrealized
Dayforce Inc 0.4%
Value $3.282M Shares 47,453 Est. Cost $62.23 Unrealized +10.6%
HALOZYME THERAPEUTICS IN 0.3%
Value $3.235M Shares 3,000,000 Est. Cost $0.95 Unrealized
BLACKLINE INC 0.3%
Value $3.034M Shares 3,071,000 Est. Cost $0.94 Unrealized
VARONIS SYSTEM INC 0.3%
Value $2.794M Shares 3,000,000 Est. Cost $0.93 Unrealized
Warner Bros Discovery Inc 0.3%
Value $2.735M Shares 94,900 Est. Cost Unrealized
ITRON INC 0.3%
Value $2.473M Shares 2,500,000 Est. Cost $0.99 Unrealized
TreeHouse Foods Inc 0.3%
Value $2.345M Shares 99,421 Est. Cost $23.59 Unrealized
Axalta Coating Systems Ltd 0.2%
Value $2.168M Shares 67,100 Est. Cost Unrealized
Core Scientific Inc 0.2%
Value $2.094M Shares 143,800 Est. Cost Unrealized
Kenvue Inc 0.2%
Value $2.042M Shares 118,400 Est. Cost Unrealized
GLADSTONE CAPITAL CORP 0.2%
Value $1.986M Shares 2,000,000 Est. Cost $0.99 Unrealized
NGD New Gold Inc 0.2%
Value $1.976M Shares 226,878 Est. Cost $7.53 Unrealized 0.0%
REV Group Inc 0.2%
Value $1.901M Shares 31,261 Est. Cost $60.81 Unrealized
BHF Brighthouse Financial Inc 0.2%
Value $1.869M Shares 28,841 Est. Cost $58.76 Unrealized 0.0%
STAA STAAR Surgical Co 0.2%
Value $1.567M Shares 67,862 Est. Cost $23.84 Unrealized +8.1%
WTRG Essential Utilities Inc 0.2%
Value $1.406M Shares 36,646 Est. Cost $39.35 Unrealized 0.0%
CTLP Cantaloupe Inc 0.2%
Value $1.4M Shares 131,794 Est. Cost $8.65 Unrealized +22.5%
IMXI International Money Express In 0.1%
Value $1.359M Shares 88,476 Est. Cost $12.46 Unrealized +20.6%
EVOLENT HEALTH INC 0.1%
Value $1.346M Shares 2,000,000 Est. Cost $0.81 Unrealized
Denny's Corp 0.1%
Value $1.328M Shares 213,445 Est. Cost $6.22 Unrealized
PRA ProAssurance Corp 0.1%
Value $1.135M Shares 46,992 Est. Cost $17.52 Unrealized +37.3%
Anywhere Real Estate Inc 0.1%
Value $1.007M Shares 71,100 Est. Cost Unrealized
Anywhere Real Estate Inc 0.1%
Value $1.007M Shares 71,100 Est. Cost Unrealized
NWE Northwestern Energy Group Inc 0.1%
Value $923K Shares 14,307 Est. Cost $54.14 Unrealized +16.0%
MOFG MidWestOne Financial Group Inc 0.1%
Value $846K Shares 21,980 Est. Cost $36.46 Unrealized 0.0%
UDMY Udemy Inc 0.1%
Value $795K Shares 135,922 Est. Cost $5.83 Unrealized 0.0%
ZEUS Olympic Steel Inc 0.1%
Value $697K Shares 16,293 Est. Cost $35.69 Unrealized 0.0%
Soho House & Co Inc 0.1%
Value $634K Shares 70,756 Est. Cost $8.86 Unrealized
Janus Henderson Group PLC 0.1%
Value $571K Shares 12,000 Est. Cost Unrealized
City Office REIT Inc 0.0%
Value $430K Shares 61,498 Est. Cost $6.96 Unrealized
DHIL Diamond Hill Investment Group 0.0%
Value $421K Shares 2,482 Est. Cost $135.06 Unrealized 0.0%
HTBK Heritage Commerce Corp 0.0%
Value $407K Shares 33,924 Est. Cost $10.85 Unrealized 0.0%
FFWM First Foundation Inc 0.0%
Value $406K Shares 65,919 Est. Cost $5.60 Unrealized 0.0%
TrueCar Inc 0.0%
Value $392K Shares 173,620 Est. Cost $2.26 Unrealized
FSFG First Savings Financial Group 0.0%
Value $280K Shares 8,788 Est. Cost $30.96 Unrealized 0.0%
DKS Dick's Sporting Goods Inc 0.0%
Value $218K Shares 1,100 Est. Cost $217.13 Unrealized 0.0%