# Portfolio overlap — ACFIX vs ARB Comparing **WATER ISLAND CREDIT OPPORTUNITIES FUND** (2026-02-28) and **AltShares Merger Arbitrage ETF** (2026-02-28). - Shared positions: 3 - WATER ISLAND CREDIT OPPORTUNITIES FUND covered by AltShares Merger Arbitrage ETF: 0.08593600147639749203324034328 - AltShares Merger Arbitrage ETF covered by WATER ISLAND CREDIT OPPORTUNITIES FUND: 0.08593600147639749203324034328 ## WATER ISLAND CREDIT OPPORTUNITIES FUND — top positions | Security | Weight | Shared | |----------|--------|--------| | MORGAN STANLEY PRIME BROKER US | 0.071180 | ✓ | | Hologic, Inc. | 0.045957 | | | FYBR 8.75 05/15/30 144A | 0.040690 | | | GTLS 7.5 01/01/30 144A | 0.039384 | | | Exact Sciences Corporation | 0.038380 | | | SEE 6.125 02/01/28 144A | 0.037471 | | | CSG SYSTEMS INTL INC CONV 3.875% 09/15/2028 | 0.037404 | | | State Street Navigator Securities Lending Portfolio II | 0.036694 | ✓ | | MSILF-GOVT-INS | 0.036694 | ✓ | | SATS 6.75 11/30/30 | 0.031771 | | | LYV 6.5 05/15/27 144A | 0.030944 | | | CONFLUENT INC ZERO COUPON 01/15/2027 | 0.030120 | | | KENNEDY-WILSON INC SR UNSEC 5.0% 03-01-31 | 0.029610 | | | BSY 0.375 07/01/27 | 0.029381 | | | NUTANIX INC SR UNSECURED 12/29 0.5 | 0.028319 | | | ORGANON / ORGANON 4.125% | 0.027264 | | | REDFIN CORP SR UNSECURED 04/27 0.5 | 0.026471 | | | TXNM ENERGY INC JR SUBORDINA 06/54 5.75 | 0.024836 | | | ZSCALER INC SR UNSECURED 144A 07/28 0.0000 | 0.022569 | | | WESCO Distribution Inc | 0.021716 | | | TGNA 5 09/15/29 | 0.021372 | | | BLCOCN 8 3/8 10/01/28 | 0.021038 | | | CLEAR CHANNEL OUTDOOR HO REGD 144A P/P 7.50000000 | 0.020484 | | | Calpine Corp. | 0.020338 | | | HALOZYME THERAPEUTICS INC CONV 0.25% 03/01/2027 | 0.019830 | | | Dynavax Technologies Corp. | 0.019329 | | | BlackLine, Inc. | 0.018859 | | | TYLER TECHNOLOGIES INC SR UNSECURED 03/26 0.25 | 0.018442 | | | EMRLD Borrower LP Term Loan B | 0.016677 | | | VRNS 1 09/15/29 | 0.016566 | | | Itron, Inc. | 0.015268 | | | Rapid7, Inc. | 0.014475 | | | US STEEL CORP | 0.014142 | | | Rand Parent LLC, Term Loan B | 0.012310 | | | SURGERY CENTER HOLDINGS REGD 144A P/P 7.25000000 | 0.012304 | | | GTLS 9.5 01/01/31 144A | 0.011455 | | | RPD 1.25 03/15/29 | 0.011142 | | | Gladstone Capital Corp | 0.008236 | | | KENNEDY-WILSON INC SR UNSEC 4.75% 02-01-30 | 0.007289 | | | SWAP MORGAN STANLEY COC | 0.007268 | | | CLEAR CHANNEL OUTDOOR HO REGD 144A P/P 7.75000000 | 0.006208 | | | PUT SPDR S&P 500 ETF 01/16/2026 P643 | 0.000112 | | ## AltShares Merger Arbitrage ETF — top positions | Security | Weight | Shared | |----------|--------|--------| | MORGAN STANLEY PRIME BROKER US | 0.137797 | ✓ | | WARNER BROS DISCOVERY INC | 0.032591 | | | EXACT SCIENCES CORP | 0.025869 | | | JDE PEET'S NV | 0.025046 | | | HOLOGIC INC | 0.024295 | | | CLEARWATER ANALYTICS HOLDINGS INC | 0.024268 | | | MASIMO CORP | 0.024221 | | | ELECTRONIC ARTS INC | 0.024206 | | | CHART INDUSTRIES INC | 0.024183 | | | CONFLUENT INC-A | 0.024107 | | | NORFOLK SOUTHERN CORP | 0.024000 | | | WEBSTER FINL | 0.023868 | | | NEW GOLD INC | 0.022984 | | | PENUMBRA INC | 0.022921 | | | AIR LEASE CORP CL A | 0.021614 | | | SEALED AIR CORP | 0.019260 | | | RAPT THERAPEUTICS INC | 0.019171 | | | ALLIED GOLD CORP | 0.017786 | | | DIGITALBRIDGE GROUP INC | 0.017697 | | | ONESTREAM INC | 0.017694 | | | TXNM ENERGY INC | 0.017638 | | | TRI POINTE HOMES INC | 0.017629 | | | VENTYX BIOSCIENCES INC | 0.017587 | | | SILICON LABS | 0.017578 | | | BRIGHTHOUSE FINANCIAL INC | 0.016536 | | | SEMRUSH HOLDINGS INC | 0.013998 | | | BANCA POP SONDRI | 0.013488 | | | ALLFUNDS GROUP P | 0.013476 | | | TEGNA INC | 0.013143 | | | FORGE GLOBAL HOLDINGS INC A | 0.013098 | | | JTC PLC | 0.013053 | | | SCHRODERS PLC | 0.013027 | | | CSG SYSTEMS INTL INC | 0.013026 | | | ALEXANDER & BALD | 0.013009 | | | SUN COUNTRY HOLD | 0.012493 | | | AMICUS THERAPEUTICS INC | 0.012310 | | | CANTALOUPE INC | 0.008833 | | | CALAVO GROWERS INC | 0.008798 | | | SUNOPTA INC | 0.008752 | | | GREAT LAKES DREDGE and DOCK CORP | 0.008720 | | | LAURENTIAN BANK | 0.008710 | | | PROASSURANCE CORPORATION | 0.008699 | | | CLEAR CHANNEL OUTDOOR HOLDINGS INC | 0.008675 | | | JUST GROUP PLC | 0.008652 | | | IHS Holding Ltd. | 0.008642 | | | STELLAR BANCORP INC | 0.008430 | | | SKYWATER TECHNOLOGY INC | 0.008375 | | | NORTHWESTERN ENERGY GROUP INC | 0.008102 | | | HERITAGE COMMERCE CORP | 0.008100 | | | MSILF-GOVT-INS | 0.007378 | ✓ | ## Sources - N-PORT (fund A) — accession `0001410368-26-040980` (as of 2026-02-28) - N-PORT (fund B) — accession `0001410368-26-040978` (as of 2026-02-28) --- _Informational only — not investment advice. 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