# Portfolio overlap — FASCX vs FAAR Comparing **K2 Alternative Strategies Fund** (2026-02-27) and **First Trust Alternative Absolute Return Strategy ETF** (2026-03-31). - Shared positions: 10 - K2 Alternative Strategies Fund covered by First Trust Alternative Absolute Return Strategy ETF: 0.08868803443080949271930753535 - First Trust Alternative Absolute Return Strategy ETF covered by K2 Alternative Strategies Fund: 0.08868803443080949271930753535 ## K2 Alternative Strategies Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | DREYFUS QII GOV CASH 289 | 0.089698 | | | FIDELITY GOVERNMENT PORTFOLIO FRGXX 1.85% 8/24/2018 - Extendable | 0.078686 | | | DREY-GVT CSH-I | 0.074503 | ✓ | | U.S. Treasury Bills | 0.028480 | | | U.S. Treasury Bills | 0.026507 | | | U.S. Treasury Bills | 0.022752 | | | WESTERN DIGITAL CORPORATION SR UNSEC CV 3.0% 11-15-28 | 0.016947 | | | U.S. Treasury Bills | 0.014164 | | | US TREASURY N/B | 0.011458 | | | Lumentum Holdings, Inc. | 0.010369 | | | U.S. Treasury Bills | 0.009455 | | | US TREASURY N/B | 0.008971 | | | Bloom Energy Corporation | 0.007726 | | | STX 3.5 06/01/28 | 0.007701 | | | BLOOM ENERGY CORP SR UNSECURED 06/29 3 | 0.007449 | | | InterDigital, Inc., Convertible | 0.007291 | | | UST BILLS 0% 05/14/2026 | 0.006604 | ✓ | | US TREASURY N/B | 0.006465 | | | IREN Ltd., Series IREN | 0.006438 | | | MASTEC INC | 0.006108 | | | CONSTELLATION ENERGY CORP | 0.005311 | | | MERCK & CO | 0.005146 | | | CVS HEALTH CORP | 0.005075 | | | XCEL ENERGY INC | 0.004721 | | | U.S. Treasury Bills | 0.004714 | | | LONZA GROUP -REG | 0.004689 | | | NEXTERA ENERGY INC | 0.004447 | | | MITSUB ELEC CORP | 0.004318 | | | US TREASURY N/B | 0.004268 | | | EDWARDS LIFESCIENCES CORP | 0.004247 | | | FIRSTENERGY CORP | 0.004035 | | | ENTERGY CORP | 0.004008 | | | MIDCAP FINL ISSU 11/01/27 | 0.003956 | | | AGILENT TECHNOLOGIES INC | 0.003815 | | | U.S. Treasury Bills | 0.003779 | ✓ | | ARGENX SE SPONSORED ADR | 0.003761 | | | FUTURE - CASH SETTLED | 0.003686 | | | ABBOTT LABS | 0.003666 | | | SATS 3.875 11/30/30 | 0.003664 | | | BEONE MEDICINES LTD ADR | 0.003450 | | | PROVINCIA DE BUENOS AIRES/GOVERNMENT BONDS MTN 6.625000% 09/01/2037 | 0.003426 | | | LILLY ELI and CO | 0.003403 | | | VAXCYTE INC | 0.003396 | | | SCHOLAR ROCK HOLDING CORP | 0.003395 | | | Nebius Group NV | 0.003262 | | | TEVA PHARMACEUTICAL IND ADR | 0.003206 | | | ROIVANT SCIENCES LTD | 0.003093 | | | Nebius Group NV | 0.003015 | | | BOEING CO/THE | 0.003011 | | | INSMED INC | 0.002973 | | ## First Trust Alternative Absolute Return Strategy ETF — top positions | Security | Weight | Shared | |----------|--------|--------| | MSILF Treasury Portfolio, Class Institutional | 0.277118 | | | DREY-GVT CSH-I | 0.277118 | ✓ | | U.S. Treasury Bills | 0.099865 | | | U.S. Treasury Bills | 0.075357 | | | U.S. Treasury Bills | 0.075251 | ✓ | | UST BILLS 0% 05/14/2026 | 0.075144 | ✓ | | U.S. Treasury Bills | 0.075002 | | | WTI CRUDE | 0.020435 | ✓ | | BRENT CRUDE FUTR JUN26 IFEU 20260430 | 0.013426 | ✓ | | WHEAT (CBT) | 0.004361 | | | XAV HEALTH CARE | 0.002297 | ✓ | | LME ZINC | 0.002067 | ✓ | | Low Su Gasoil G May26 | 0.001301 | ✓ | | WORLDCLIMATE PARI MAR26 | 0.001070 | ✓ | | SILVER SEP 26 | 0.000188 | ✓ | ## Sources - N-PORT (fund A) — accession `0000940400-26-014752` (as of 2026-02-27) - N-PORT (fund B) — accession `0000940400-26-021780` (as of 2026-03-31) --- _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 _