# Portfolio overlap — ARBCX vs MARB

Comparing **THE ARBITRAGE FUND** (2026-02-28) and **First Trust Merger Arbitrage ETF** (2026-04-30).

- Shared positions: 9
- THE ARBITRAGE FUND covered by First Trust Merger Arbitrage ETF: 0.1462749163129463704591382836
- First Trust Merger Arbitrage ETF covered by THE ARBITRAGE FUND: 0.1462749163129463704591382836

## THE ARBITRAGE FUND — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| MSILF-GOVT-INS | 0.080227 |  |
| State Street Navigator Securities Lending Portfolio II | 0.080227 |  |
| JANUS HENDERSON GROUP PLC | 0.045232 |  |
| ELECTRONIC ARTS INC | 0.039352 | ✓ |
| ENDEAVOR GROUP HOLDINGS INC | 0.039228 |  |
| NORFOLK SOUTHERN CORP | 0.038520 |  |
| WARNER BROS DISCOVERY INC | 0.038224 |  |
| TXNM ENERGY INC | 0.037597 |  |
| CHART INDUSTRIES INC | 0.036969 |  |
| HOLOGIC INC | 0.036055 |  |
| PENUMBRA INC | 0.034971 |  |
| EXACT SCIENCES CORP | 0.033448 |  |
| Water Island Event Driven Fund | 0.032709 |  |
| TEGNA INC | 0.030078 |  |
| CONFLUENT INC-A | 0.027181 |  |
| MORGAN STANLEY PRIME BROKER US | 0.023337 |  |
| MASIMO CORP | 0.022014 | ✓ |
| SCHRODERS PLC | 0.021885 |  |
| TRI POINTE HOMES INC | 0.021871 | ✓ |
| FYBR 8.75 05/15/30 144A | 0.020169 |  |
| GREAT LAKES DREDGE and DOCK CORP | 0.019449 |  |
| ARCELLX INC | 0.017110 |  |
| WEBSTER FINL | 0.017009 |  |
| DIGITALBRIDGE GROUP INC | 0.016699 | ✓ |
| SEALED AIR CORP | 0.016050 |  |
| JDE PEET'S NV | 0.013730 |  |
| STELLAR BANCORP INC | 0.013516 |  |
| KENVUE INC | 0.013141 |  |
| AMICUS THERAPEUTICS INC | 0.013064 |  |
| PEAKSTONE REALTY | 0.012134 | ✓ |
| ENHABIT INC | 0.009788 | ✓ |
| VERIS RESIDENTIAL INC | 0.009764 | ✓ |
| KENNEDY-WILSON HOLDINGS INC | 0.009733 | ✓ |
| VENTYX BIOSCIENCES INC | 0.009728 |  |
| ZIM INTEGRATED SHIPPING SERVICES LTD | 0.009725 |  |
| SILICON LABS | 0.009685 |  |
| GTLS 7.5 01/01/30 144A | 0.009518 |  |
| AXALTA COATING SYSTEMS LTD | 0.007921 |  |
| RAPT THERAPEUTICS INC | 0.007071 |  |
| SKECHERS USA INC CL A | 0.005158 |  |
| CLEARWATER ANALYTICS HOLDINGS INC | 0.004921 | ✓ |
| ALEXANDER & BALD | 0.004502 |  |
| RESOLUTE FST CVR | 0.001448 |  |
| Bristol-Myers Squibb Company | 0.001168 |  |
| CONTRA ALBIREO PHARMA | 0.001083 |  |
| PFIZER INC CVR | 0.001004 |  |
| FLEXION THERAPEUTICS INC - CVR CONTINGENT VALUE RIGHT | 0.000995 |  |
| CONTRA CONCRT PHRMC | 0.000993 |  |
| Regulus Therapeutics, Inc., CVR | 0.000749 |  |
| AVADEL PHARMACEUTICALS PLC | 0.000745 |  |

## First Trust Merger Arbitrage ETF — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| DREY-GVT CSH-I | 0.503974 |  |
| ELECTRONIC ARTS INC | 0.042424 | ✓ |
| SELECT MEDICAL HLDGS CORP | 0.040382 |  |
| MASIMO CORP | 0.038294 | ✓ |
| TALKSPACE INC CL A | 0.037940 |  |
| PEAKSTONE REALTY | 0.037914 | ✓ |
| CSG SYSTEMS INTL INC | 0.036748 |  |
| BRIGHTHOUSE FINANCIAL INC | 0.035860 |  |
| CLEARWATER ANALYTICS HOLDINGS INC | 0.034150 | ✓ |
| CLEAR CHANNEL OUTDOOR HOLDINGS INC | 0.033148 |  |
| VERIS RESIDENTIAL INC | 0.033118 | ✓ |
| ENHABIT INC | 0.030871 | ✓ |
| TRI POINTE HOMES INC | 0.028564 | ✓ |
| KENNEDY-WILSON HOLDINGS INC | 0.028302 | ✓ |
| DIGITALBRIDGE GROUP INC | 0.023812 | ✓ |
| PROASSURANCE CORPORATION | 0.014500 |  |


## Sources

- N-PORT (fund A) — accession `0001410368-26-040981` (as of 2026-02-28)
  <https://www.sec.gov/Archives/edgar/data/1105076/000141036826040981/0001410368-26-040981-index.htm>
- N-PORT (fund B) — accession `0000940400-26-025153` (as of 2026-04-30)
  <https://www.sec.gov/Archives/edgar/data/1424212/000094040026025153/0000940400-26-025153-index.htm>

---

_Informational only — not investment advice. FundWatcher presents publicly available data and makes no recommendation to buy or sell any security. Verify all figures against the source filing before relying on them._

_Data sourced from U.S. SEC EDGAR filings (Forms N-PORT, N-CEN, and prospectus Risk/Return summaries). FundWatcher is not affiliated with the SEC._

_Use of this data is subject to the FundWatcher Terms of Service. Information may be used only for personal, non-commercial research and may not be redistributed. See <https://fundwatcher.app/terms/>_