WATER ISLAND CAPITAL LLC Information

41 MADISON AVENUE, NEW YORK, New York, 10010, (212) 584-2367

Report Date: 12/31/2013

Position Statistics

Total Positions 49
New Positions 32
Increased Positions 37
Decreased Positions 12
Positions with Activity 49
Sold Out Positions 8
Total Mkt Value (in $ millions) 816

Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Commission.

Sector Weighting

Basic Materials 0.42%
Capital Goods 1.42%
Conglomerates 21.9%
Consumer Cyclical 0.57%
Consumer/Non-Cyclical 0%
Energy 7.91%
Financial 46.75%
Healthcare 1.89%
Services 9.39%
Technology 6.84%
Transportation
Utilities 1.92%

49 Positions as of 12/31/2013

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
PERRIGO CO COM 178,721 178,721 New 1,148,075
HUDSON CITY BANCORP COM 116,505 -17,814 (13.26) 11,876,120
PACWEST BANCORP DEL COM 108,122 50,050 86.19 2,648,747
STERLING FINL CORP WASH COM NEW 96,162 69,972 267.17 2,873,928
PIONEER NAT RES CO COM 53,584 12,010 28.89 273,739
LSI CORPORATION COM 50,425 50,425 New 4,551,008
FIDELITY NATIONAL FINANCIAL IN CL A 40,889 5,486 15.49 1,284,614
ESSEX PPTY TR INC COM 26,349 26,349 New 157,695
AMERICAN RLTY CAP PPTYS INC COM 14,102 14,102 New 1,049,255
KKR FINL HLDGS LLC COM 9,800 9,800 New 873,413
NRG ENERGY INC COM NEW 9,427 9,427 New 291,327
MANITOWOC INC COM 8,734 8,734 New 287,019
VERIZON COMMUNICATIONS INC COM 8,645 -639 (6.89) 184,246
ACTAVIS PLC SHS 8,104 8,104 New 41,785
OUTERWALL INC COM 7,057 7,057 New 108,216
AMERICAN AIRLS GROUP INC COM 6,424 6,424 New 190,508
UNS ENERGY CORP COM 6,222 6,222 New 103,400
GENWORTH FINL INC COM CL A 5,925 810 15.83 367,770
TIME WARNER CABLE INC COM 5,910 5,910 New 44,058
OFFICE DEPOT INC COM 5,765 -3,616 (38.55) 1,455,859