Water Island Capital

Water Island Capital as of March 31, 2011

Portfolio Holdings for Water Island Capital

Water Island Capital holds 38 positions in its portfolio as reported in the March 2011 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Lubrizol Corp 22.1 $99M 741k 133.96
Dionex Corp 18.8 $85M 716k 118.05
Progress Energy 9.4 $42M 915k 46.14
Massey Energy Company 8.1 $37M 536k 68.36
Gsi Commerce 6.5 $29M 998k 29.27
Pre-paidlegalsvcscomstkusd0.01 C om 7 5.5 $25M 372k 66.00
Nationwide Health Pptys 5.4 $24M 572k 42.53
Rc2 Corp 3.2 $15M 520k 28.10
Danvers Bancorp 3.0 $13M 641k 20.72
Terremark Worldwide 2.9 $13M 674k 19.00
Zoran Corp 2.2 $10M 965k 10.39
Abington Bancorp 2.2 $9.9M 813k 12.23
Rural / Metro Corp 1.8 $8.2M 479k 17.04
Capital Gold Corp 1.4 $6.4M 1000k 6.43
Verigy 1.2 $5.2M 370k 14.09
Rome Bancorp 1.1 $5.0M 426k 11.75
Navisite 1.1 $4.9M 898k 5.49
Spectrum Ctl 1.0 $4.4M 224k 19.68
Animal Health Intl 0.9 $4.2M 994k 4.20
K Sea Transn Partners 0.7 $3.2M 387k 8.18
Clinical Data 0.7 $2.9M 97k 30.30
Allied Defense Group 0.3 $1.4M 403k 3.52
Terra Nova Rty Corp 0.3 $1.4M 161k 8.61
Alpha Natural Resources 0.1 $557k 1.8k 317.76
Spdr S&p 500 Etf Tr tr unit 7 0.0 $122k 2.5k 48.88
Beckman Coulter Inc Not e 2.500%12/1 0 0.0 $119k 100k 1.19
America Services Group Inc Com Stk C om 0 0.0 $93k 3.6k 25.75
Itt Corp 0.0 $91k 1.5k 60.00
Marathon Oil Corp 5 0.0 $81k 1.5k 53.33
Capitalsource Inc Sdc v 7.250%7/1 1 0.0 $100k 100k 1.00
Holly Corp Com par $0.01 4 0.0 $71k 1.2k 60.58
Nyse Euronext 0.0 $49k 1.4k 35.00
Answers Corp 0.0 $31k 3.0k 10.33
Fortune Brands 0.0 $37k 600.00 61.67
Ldk Solar Co Ltd Note 4.750%4/1 5 0.0 $25k 25k 1.00
Tgc Inds 0.0 $35k 4.5k 7.85
Novartis 0.0 $8.0k 1.5k 5.17
SUSQUEHANNA BANCSHARES Inc P 0.0 $1.0k 132.00 7.58