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Disclosery

13F-HR filed by WATER ISLAND CAPITAL LLC

WATER ISLAND CAPITAL LLC filed this 13F-HR for the quarter ended 2025-12-31, filed 2026-02-17, with 91 holding rows worth $927,601,491.

Accession
0001222765-26-000003
Filer
CIK 1222765
Filed
2026-02-17
Accepted by EDGAR
acceptance time not in the bulk data set
Ingested
Source
SEC quarterly data set

Original filing

13F report for Q4 2025

A holdings report, 91 entries on the cover page, a total value of $927,601,491 stated on the cover page (in dollars after the unit check, H1), rows summing to $927,601,491 with VALUE read as dollars as filed, 13F file number 028-10693. The quarter's positions are built on this report. The resolved quarter.

The information table after summing rows of one CUSIP and put or call (H4), with the CUSIP and issuer name as filed. Values in dollars after the unit check (method).

Issuer as filedCUSIPClassAmountValueValue read asType
CHART INDS INC16115Q308COM188,325$38,838,264dollars as filed
CYBERARK SOFTWARE LTD SHSM2682V108Stock86,648$38,650,206dollars as filed
NORFOLK SOUTHN CORP COM655844108Stock129,043$37,257,294dollars as filed
ELECTRONIC ARTS INC COM285512109Stock180,838$36,950,629dollars as filed
EXACT SCIENCES CORP COM30063P105Stock350,009$35,546,914dollars as filed
HOLOGIC INC436440101COM467,742$34,842,102dollars as filed
COMERICAINC200340107COM398,037$34,601,356dollars as filed
TXNM ENERGY INC COM69349H107Stock576,411$33,939,079dollars as filed
CIDARA THERAPEUTICS INC171757206COM NEW150,708$33,289,890dollars as filed
WARNER BROS DISCOVERY INC COM SER A934423104Stock1,139,634$32,844,252dollars as filed
JANUS HENDERSON GROUP PLC ORD SHSG4474Y214Stock647,485$30,800,861dollars as filed
AVADEL PHARMACEUTICALS PLCG29687103COM SHS1,087,117$23,427,370dollars as filed
SEALED AIR CORP NEW81211K100COM559,237$23,169,189dollars as filed
TEGNA INC COM87901J105Stock1,179,885$22,901,568dollars as filed
ASPEN INSURANCE HOLDINGS LTDG05384501ORD SHS CL A572,685$21,246,613dollars as filed
CLEARWATER ANALYTICS HLDGS I185123106CL A875,632$21,120,243dollars as filed
SYNOVUS FINL CORP87161C501COM NEW403,650$20,202,683dollars as filed
CONFLUENT INC20717M103CLASS A COM640,113$19,357,018dollars as filed
AIR LEASE CORP00912X302CL A298,440$19,168,801dollars as filed
STATE STR SPDR S&P 500 ETF T78462F903CALL25,000$17,048,000dollars as filedcall
Cidara Therapeutics Inc171757956Equity Put76,900$16,986,441dollars as filedput
DIGITALBRIDGE GROUP INC25401T603CL A NEW929,000$14,250,859dollars as filed
TECK RESOURCES LTD878742954CL B292,100$13,988,669dollars as filedput
JAMF HLDG CORP COM47074L105Stock985,069$12,815,748dollars as filed
CADENCE BANK12740C103COM297,603$12,749,313dollars as filed
HILLENBRAND INC431571108COM399,006$12,656,469dollars as filed
PLYMOUTH INDL REIT INC COM729640102REIT559,215$12,235,624dollars as filed
AVIDITY BIOSCIENCES INC05370A958Put168,700$12,168,331dollars as filedput
AVIDITY BIOSCIENCES INC COM05370A108Stock168,385$12,145,611dollars as filed
KENVUE INC49177J952COM695,000$11,988,750dollars as filedput
KENVUE INC49177J102COM690,191$11,905,796dollars as filed
CSG SYSTEMS126349109COM150,720$11,558,717dollars as filed
AMICUS THERAPEUTICS INC03152W109COM706,617$10,062,225dollars as filed
HILLENBRAND INC431571958Cmn315,000$9,991,800dollars as filedput
DYNAVAX TECHNOLOGIES CORP268158201COM NEW610,261$9,385,814dollars as filed
QORVO INC COM74736K101Stock109,521$9,255,621dollars as filed
FORGE GLOBAL HOLDINGS INC34629L202COM SHS197,075$8,781,662dollars as filed
ASTRIA THERAPEUTICS INC COM04635X102Stock615,790$8,060,691dollars as filed
SEMRUSH HLDGS INC CL A COM81686C104Stock628,602$7,474,078dollars as filed
AXALTA COATING SYS LTD COMG0750C108Stock205,722$6,646,878dollars as filed
AMICUS THERAPEUTIC03152W909CALL451,000$6,422,240dollars as filedcall
Anywhere Real Estate Inc75605Y106Common Stock444,821$6,298,665dollars as filed
CSG SYS INTL INC126349AH2NOTE 3.875% 9/15,000,000$5,967,049dollars as filedprincipal
SPOTIFY USA INC84921RAB6NOTE 3/15,000,000$5,675,000dollars as filedprincipal
BOEING CO097023204DEP CONV PFD A80,000$5,524,800dollars as filed
ALEXANDER & BALDWIN INC NEW014491104COM263,012$5,428,568dollars as filed
RAPID7 INC753422AF1NOTE 0.250% 3/15,501,530$5,099,629dollars as filedprincipal
CONFLUENT INC20717MAB9NOTE 1/15,000,000$4,855,000dollars as filedprincipal
BENTLEY SYS INC08265TAD1NOTE 0.375% 7/05,000,000$4,711,875dollars as filedprincipal
HOLOGIC INC436440951PUT60,600$4,514,094dollars as filedput
EVENTBRITE INC29975E109COM CL A987,653$4,395,056dollars as filed
KIMBERLY-CLARK CORP494368903CALL42,200$4,257,558dollars as filedcall
REDFIN CORP75737FAE8NOTE 0.500% 4/04,500,000$4,217,625dollars as filedprincipal
TXNM ENERGY INC69349HAF4NOTE 5.750% 6/03,000,000$4,038,275dollars as filedprincipal
NUTANIX INC67059NAK4NOTE 0.500%12/13,500,000$3,376,528dollars as filedprincipal
CERIDIAN HCM HLDG INC15677J108COM47,453$3,281,849dollars as filed
HALOZYME THERAPEUTICS INC40637HAD1NOTE 0.250% 3/03,000,000$3,235,000dollars as filedprincipal
BLACKLINE INC09239BAD1NOTE 3/13,071,000$3,034,148dollars as filedprincipal
VARONIS SYS INC922280AD4NOTE 1.000% 9/13,000,000$2,794,333dollars as filedprincipal
WARNER BROS DISCOVERY INC934423954PUT94,900$2,735,018dollars as filedput
ITRON INC465741AN6NOTE 3/12,500,000$2,472,500dollars as filedprincipal
TREEHOUSE FOODS INC COM89469A104Stock99,421$2,345,342dollars as filed
AXALTA COATING SYS LTDG0750C958PUT67,100$2,168,001dollars as filedput
CORE SCIENTIFIC INC NEW21874A906CALL143,800$2,093,728dollars as filedcall
KENVUE INC49177J902COM118,400$2,042,400dollars as filedcall
GLADSTONE CAP CORP376535AG5NOTE 5.875%10/02,000,000$1,985,577dollars as filedprincipal
NEW GOLD INC CDA644535106COM226,878$1,976,107dollars as filed
REV Group Inc749527107Common Stock31,261$1,900,981dollars as filed
BRIGHTHOUSE FINL INC10922N103COM28,841$1,868,608dollars as filed
STAAR SURGICAL CO COM PAR $0.01852312305Stock67,862$1,566,934dollars as filed
ESSENTIAL UTILS INC COM29670G102Stock36,646$1,405,741dollars as filed
CANTALOUPE INC138103106COM131,794$1,399,652dollars as filed
INTERNATIONAL MONEY EXPRESS46005L101COM88,476$1,358,991dollars as filed
EVOLENT HEALTH INC30050BAH4NOTE 3.500%12/02,000,000$1,345,833dollars as filedprincipal
DENNYS CORP24869P104COM213,445$1,327,628dollars as filed
PROASSURANCE CORP74267C106COM46,992$1,135,327dollars as filed
REALOGY HOLDINGS CORP75605Y906COM71,100$1,006,776dollars as filedcall
REALOGY HOLDINGS CORP75605Y956Cmn71,100$1,006,776dollars as filedput
NORTHWESTERN ENERGY GROUP INC COM NEW668074305Stock14,307$923,374dollars as filed
MIDWESTONE FINACIAL GROUP I598511103COMMON STOCK21,980$846,230dollars as filed
UDEMY INC COM902685106Stock135,922$795,144dollars as filed
OLYMPIC STEEL INC COM68162K106Stock16,293$697,096dollars as filed
SOHO HOUSE & CO INC586001109COM CL A70,756$633,974dollars as filed
JANUS HENDERSON GROUP PLCG4474Y954ORD SHS12,000$570,840dollars as filedput
CITY OFFICE REIT INC178587101COM61,498$429,871dollars as filed
Diamond Hill Investment Group Inc25264R207Common Stock2,482$420,699dollars as filed
Heritage Commerce Corp426927109Common Stock33,924$407,427dollars as filed
First Foundation Inc32026V104Common Stock65,919$406,061dollars as filed
TRUECAR INC89785L107COM173,620$392,381dollars as filed
FIRST SVGS FINL GROUP INC33621E109COM8,788$279,986dollars as filed
DICKS SPORTING GOODS INC COM253393102Stock1,100$217,767dollars as filed

Amendment chain

FilingRoleFiledAcceptedIngested
13F-HR 0001222765-26-000003this filing2026-02-17acceptance time not in the bulk data set