Fluid stays on top of emerging objects

So, this text (actually, objects) emerges from the water, but some of the fluid is staying on top. Nothing is set to No Slip, but I think everything automatically changes to free slip when it involves a moving object anyway. So, I’m not sure what’s going on. I’m including the project file. Thanks for any ideas.

Redemption Fluid Logo Final 2.blend (3.61 MB)