# Portfolio overlap — AGEAX vs ARB Comparing **Water Island Event-Driven Fund** (2026-02-28) and **AltShares Merger Arbitrage ETF** (2026-02-28). - Shared positions: 30 - Water Island Event-Driven Fund covered by AltShares Merger Arbitrage ETF: 0.4360934884316574479867107551 - AltShares Merger Arbitrage ETF covered by Water Island Event-Driven Fund: 0.4360934884316574479867107551 ## Water Island Event-Driven Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | FYBR 8.75 05/15/30 144A | 0.056161 | | | JANUS HENDERSON GROUP PLC | 0.047714 | | | ELECTRONIC ARTS INC | 0.043494 | ✓ | | HOLOGIC INC | 0.042316 | ✓ | | EXACT SCIENCES CORP | 0.041204 | ✓ | | ENDEAVOR GROUP HOLDINGS INC | 0.040026 | | | WARNER BROS DISCOVERY INC | 0.038804 | ✓ | | SATS 6.75 11/30/30 | 0.037840 | | | PENUMBRA INC | 0.033124 | ✓ | | CHART INDUSTRIES INC | 0.030028 | ✓ | | NORFOLK SOUTHERN CORP | 0.029678 | ✓ | | CONFLUENT INC-A | 0.027763 | ✓ | | TXNM ENERGY INC | 0.026435 | ✓ | | TEGNA INC | 0.025458 | ✓ | | MASIMO CORP | 0.025094 | ✓ | | DIGITALBRIDGE GROUP INC | 0.020456 | ✓ | | GREAT LAKES DREDGE and DOCK CORP | 0.020116 | ✓ | | TRI POINTE HOMES INC | 0.020028 | ✓ | | AIR LEASE CORP CL A | 0.017700 | ✓ | | SCHRODERS PLC | 0.017616 | ✓ | | ARCELLX INC | 0.017546 | | | BLCOCN 8 3/8 10/01/28 | 0.016445 | | | SEALED AIR CORP | 0.016270 | ✓ | | Calpine Corp. | 0.015944 | | | KENNEDY-WILSON INC SR UNSEC 5.0% 03-01-31 | 0.015656 | | | KENVUE INC | 0.015398 | | | AMICUS THERAPEUTICS INC | 0.013794 | ✓ | | MORGAN STANLEY PRIME BROKER US | 0.013294 | ✓ | | ENHABIT INC | 0.013146 | | | RPD 1.25 03/15/29 | 0.013133 | | | SKECHERS USA INC CL A | 0.012908 | | | TGNA 5 09/15/29 | 0.012664 | | | CINEPLEX INC COMMON STOCK | 0.012524 | | | MSILF-GOVT-INS | 0.011038 | ✓ | | State Street Navigator Securities Lending Portfolio II | 0.011038 | ✓ | | JDE PEET'S NV | 0.010902 | ✓ | | GTLS 7.5 01/01/30 144A | 0.010142 | | | ZIM INTEGRATED SHIPPING SERVICES LTD | 0.010086 | | | VERIS RESIDENTIAL INC | 0.010069 | | | WEBSTER FINL | 0.010040 | ✓ | | SILICON LABS | 0.009885 | ✓ | | Gladstone Capital Corp | 0.009796 | | | Bayer Aktiengesellschaft | 0.009473 | | | CAESARS ENTERTAINMENT INC | 0.006240 | | | CLEARWATER ANALYTICS HOLDINGS INC | 0.006203 | ✓ | | PENN ENTERTAINMENT INC | 0.006042 | | | ECHOSTAR CORP CL A | 0.005802 | | | EMRLD Borrower LP Term Loan B | 0.005731 | | | VIKING THERAPEUTICS INC | 0.005479 | | | PACIFIC BIOSCIENES OF CALI INC | 0.005231 | | ## 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 `0001410368-26-040979` (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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