WATER ISLAND CAPITAL LLC Q3 2025 Filing
Filed November 14, 2025
Portfolio Value
$793.3B
Holdings
84
Report Date
Q3 2025
Filing Type
13F-HR
All Holdings (84 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | CYBRCYBERARK SOFTWARE LTD | 85,799 | $41.5B | 5.23% | |
| 2 | NSCNORFOLK SOUTHN CORP | 125,799 | $37.8B | 4.76% | |
| 3 | VRNAVERONA PHARMA PLC | 290,182 | $31.0B | 3.90% | |
| 4 | AVDXAVIDXCHANGE HOLDINGS INC | 2,882,867 | $28.7B | 3.62% | |
| 5 | INFA1EURINFORMATICA INC | 1,149,598 | $28.6B | 3.60% | |
| 6 | VBTXVERITEX HLDGS INC | 815,698 | $27.4B | 3.45% | |
| 7 | TXNMTXNM ENERGY INC | 450,660 | $25.5B | 3.21% | |
| 8 | GTLSCHART INDS INC | 127,171 | $25.5B | 3.21% | |
| 9 | TGNATEGNA INC | 1,223,508 | $24.9B | 3.14% | |
| 10 | VTYVERINT SYS INC | 1,202,967 | $24.4B | 3.07% | |
| 11 | PTBPOTBELLY CORP | 1,351,588 | $23.0B | 2.90% | |
| 12 | AHLASPEN INSURANCE HOLDINGS LTD | 620,249 | $22.8B | 2.87% | |
| 13 | —WNS HLDGS LTD | 296,042 | $22.6B | 2.85% | |
| 14 | —SYNOVUS FINL CORP | 421,500 | $20.7B | 2.61% | Put |
| 15 | SYU1SYNOVUS FINL CORP | 421,500 | $20.7B | 2.61% | |
| 16 | ALAIR LEASE CORP | 300,677 | $19.1B | 2.41% | |
| 17 | CORZCORE SCIENTIFIC INC NEW | 1,042,000 | $18.7B | 2.36% | Put |
| 18 | MLNKMERIDIANLINK INC | 930,234 | $18.5B | 2.34% | |
| 19 | SPNSSAPIENS INTL CORP N V | 421,434 | $18.1B | 2.28% | |
| 20 | EAELECTRONIC ARTS INC | 88,590 | $17.9B | 2.25% | |
| 21 | STAASTAAR SURGICAL CO | 658,317 | $17.7B | 2.23% | |
| 22 | HN9HANESBRANDS INC | 2,264,676 | $14.9B | 1.88% | |
| 23 | CORZCORE SCIENTIFIC INC NEW | 785,446 | $14.1B | 1.78% | |
| 24 | DAYDAYFORCE INC | 183,721 | $12.7B | 1.60% | |
| 25 | VMEO*VIMEO INC | 1,555,942 | $12.1B | 1.52% | |
| 26 | MGRCMCGRATH RENTCORP | 99,363 | $11.6B | 1.47% | |
| 27 | PROPROS HOLDINGS INC | 492,502 | $11.3B | 1.42% | |
| 28 | IASINTEGRAL AD SCIENCE HLDNG CO | 1,071,160 | $10.9B | 1.37% | |
| 29 | TECK/BTECK RESOURCES LTD | 209,900 | $9.2B | 1.16% | |
| 30 | TECKTECK RESOURCES LTD | 209,600 | $9.2B | 1.16% | Put |
| 31 | —Merus NV | 96,000 | $9.0B | 1.14% | Put |
| 32 | MRUSMERUS N V | 96,000 | $9.0B | 1.14% | |
| 33 | —VERONA PHARMA PLC | 84,100 | $9.0B | 1.13% | Put |
| 34 | —KELLANOVA | 108,800 | $8.9B | 1.12% | Call |
| 35 | WOWWIDEOPENWEST INC | 1,558,174 | $8.0B | 1.01% | |
| 36 | PINCPREMIER INC | 278,420 | $7.7B | 0.98% | |
| 37 | —89BIO INC | 493,500 | $7.3B | 0.91% | Call |
| 38 | SPOT 0 03/15/26SPOTIFY USA INC | 5,000,000 | $6.8B | 0.86% | |
| 39 | 6PMPARAMOUNT GROUP INC | 958,918 | $6.3B | 0.79% | |
| 40 | UBER 0 12/15/25UBER TECHNOLOGIES INC | 5,000,000 | $6.1B | 0.77% | |
| 41 | BA 6 10/15/27BOEING CO | 80,000 | $5.6B | 0.70% | |
| 42 | COMPCOMPASS INC | 655,600 | $5.3B | 0.66% | Call |
| 43 | PRAPROASSURANCE CORP | 210,461 | $5.0B | 0.64% | |
| 44 | HOUSANYWHERE REAL ESTATE INC | 456,600 | $4.8B | 0.61% | |
| 45 | —ANYWHERE REAL ESTATE INC | 456,600 | $4.8B | 0.61% | Put |
| 46 | BSY 0.375 07/01/27BENTLEY SYS INC | 5,000,000 | $4.7B | 0.59% | |
| 47 | AKAM 0.375 09/01/27AKAMAI TECHNOLOGIES INC | 4,500,000 | $4.3B | 0.54% | |
| 48 | RDFN 0.5 04/01/27REDFIN CORP | 4,500,000 | $4.2B | 0.53% | |
| 49 | CVACCUREVAC N V | 762,138 | $4.1B | 0.52% | |
| 50 | TXNM 5.75 06/01/54TXNM ENERGY INC | 3,000,000 | $4.0B | 0.50% | |
| 51 | HALO 0.25 03/01/27HALOZYME THERAPEUTICS INC | 3,000,000 | $3.4B | 0.43% | |
| 52 | DXCM 0.375 05/15/28DEXCOM INC | 3,500,000 | $3.2B | 0.40% | |
| 53 | BL 0 03/15/26BLACKLINE INC | 3,071,000 | $3.0B | 0.38% | |
| 54 | VRNT 0.25 04/15/26VERINT SYSTEMS INC | 3,000,000 | $2.9B | 0.37% | |
| 55 | AYS1SANDSTORM GOLD LTD | 214,205 | $2.7B | 0.34% | |
| 56 | TRMLTOURMALINE BIO INC | 50,968 | $2.4B | 0.31% | |
| 57 | RPD 0.25 03/15/27RAPID7 INC | 2,500,000 | $2.3B | 0.29% | |
| 58 | LBRDKLIBERTY BROADBAND CORP | 35,810 | $2.3B | 0.29% | |
| 59 | GLAD 5.875 10/01/30GLADSTONE CAP CORP | 2,000,000 | $2.0B | 0.25% | |
| 60 | IPGINTERPUBLIC GROUP COS INC | 63,104 | $1.8B | 0.22% | |
| 61 | CTLPCANTALOUPE INC | 160,907 | $1.7B | 0.21% | |
| 62 | GJBSTEELCASE INC | 94,905 | $1.6B | 0.21% | |
| 63 | EVH 3.5 12/01/29EVOLENT HEALTH INC | 2,000,000 | $1.6B | 0.20% | |
| 64 | FUBO 3.25 02/15/26FUBOTV INC | 1,591,000 | $1.6B | 0.20% | |
| 65 | ZIMVZIMVIE INC | 72,353 | $1.4B | 0.17% | |
| 66 | —MAC COPPER LIMITED | 103,254 | $1.3B | 0.16% | |
| 67 | LYVLIVE NATION ENTERTAINMENT IN | 7,500 | $1.2B | 0.15% | Call |
| 68 | AMWDAMERICAN WOODMARK CORPORATIO | 18,336 | $1.2B | 0.15% | |
| 69 | IMXIINTERNATIONAL MNY EXPRESS IN | 86,175 | $1.2B | 0.15% | |
| 70 | RWT 7.75 06/15/27REDWOOD TRUST INC | 1,000,000 | $1.0B | 0.13% | |
| 71 | MTSRMETSERA INC | 18,730 | $980.1M | 0.12% | |
| 72 | —METSERA INC | 18,700 | $978.6M | 0.12% | Put |
| 73 | 37MMRC GLOBAL INC | 58,605 | $845.1M | 0.11% | |
| 74 | NWENORTHWESTERN ENERGY GROUP IN | 14,303 | $838.3M | 0.11% | |
| 75 | XXYCROSS CTRY HEALTHCARE INC | 42,897 | $609.1M | 0.08% | |
| 76 | 75ZSOHO HOUSE & CO INC | 65,542 | $580.0M | 0.07% | |
| 77 | PFMTUSDPERFORMANT HEALTHCARE INC | 72,772 | $562.5M | 0.07% | |
| 78 | BRYBERRY CORP | 142,979 | $540.5M | 0.07% | |
| 79 | PVBCPROVIDENT BANCORP INC | 40,282 | $504.7M | 0.06% | |
| 80 | 35YCORECARD CORPORATION | 16,595 | $446.7M | 0.06% | |
| 81 | CIOCITY OFFICE REIT INC | 54,317 | $378.0M | 0.05% | |
| 82 | 1S4HARBORONE BANCORP INC NEW | 22,464 | $305.5M | 0.04% | |
| 83 | AURAAURA BIOSCIENCES INC | 10,372 | $64.1M | 0.01% | |
| 84 | PACBPACIFIC BIOSCIENCES CALIF IN | 35,754 | $45.8M | 0.01% |