Water Island Event-Driven Fund

Fund Profile

Fund profile

Tickers

AEDFX, AEDNX, AGEAX

Fund manager

The Arbitrage Fund Class R

Total assets

$71.41 mm

Liabilities

$3.07 mm

Net assets

$68.34 mm

Number of holdings

115.00

115 Holdings

As of Nov 2024

Security	$Holding	Balance	% of Fund	Category	Position	Country
HES Hess Corporation	4.10 mm	27.89 k shares	6.01	Common equity	Long	USA
AMED Amedisys, Inc.	3.67 mm	40.12 k shares	5.37	Common equity	Long	USA
HCP HashiCorp, Inc.	3.04 mm	90.37 k shares	4.45	Common equity	Long	USA
K Kellogg Company	3.04 mm	37.35 k shares	4.44	Common equity	Long	USA
CHX ChampionX Corporation	2.96 mm	95.67 k shares	4.33	Common equity	Long	USA
State Street Institutional US Government Money Market Fund	2.76 mm	2.76 mm shares	4.04	Short-term investment vehicle	Long	USA
Morgan Stanley Institutional Liquidity Funds - Government Portfolio	2.76 mm	2.76 mm shares	4.04	Short-term investment vehicle	Long	USA
JNPR Juniper Networks, Inc.	2.61 mm	72.66 k shares	3.82	Common equity	Long	USA
MORGAN STANLEY PRIME BROKER US	2.61 mm	2.61 mm shares	3.82		Long	USA
EVRI Everi Holdings Inc.	2.45 mm	2.46 mm principal	3.58	Debt	Long	USA
AYX Alteryx Inc - Ordinary Shares	2.41 mm	2.36 mm principal	3.52	Debt	Long	USA
X United States Steel Corporation	2.38 mm	58.45 k shares	3.49	Common equity	Long	USA
VZIO Vizio Holding Corp.	2.37 mm	208.06 k shares	3.47	Common equity	Long	USA
CTLT Catalent, Inc.	2.24 mm	36.66 k shares	3.28	Common equity	Long	USA
EDR Endeavor Group Holdings, Inc.	2.02 mm	66.53 k shares	2.96	Common equity	Long	USA
ANSS ANSYS, Inc.	1.98 mm	5.65 k shares	2.90	Common equity	Long	USA
TTGT TechTarget, Inc.	1.89 mm	1.93 mm principal	2.77	Debt	Long	USA
ACI Albertsons Companies, Inc.	1.82 mm	91.62 k shares	2.66	Common equity	Long	USA
EVRI Everi Holdings Inc.	1.52 mm	112.72 k shares	2.22	Common equity	Long	USA
FYBR Frontier Communications Parent, Inc.	1.36 mm	39.09 k shares	1.99	Common equity	Long	USA
SMAR Smartsheet Inc	1.33 mm	23.86 k shares	1.95	Common equity	Long	USA
CDMO Avid Bioservices, Inc.	1.24 mm	101.31 k shares	1.82	Common equity	Long	USA
MGRC McGrath RentCorp	1.24 mm	10.20 k shares	1.82	Common equity	Long	USA
Frontier Communications Holdings LLC	1.18 mm	1.11 mm principal	1.73	Debt	Long	USA
ZUO Zuora, Inc.	1.07 mm	108.01 k shares	1.57	Common equity	Long	USA
Enstar Group Ltd	1.05 mm	3.22 k shares	1.53	Common equity	Long	Bermuda
B Barnes Group Inc	1.04 mm	22.10 k shares	1.51	Common equity	Long	USA
CIXXF CI Financial Corp.	1.01 mm	45.44 k shares	1.47	Common equity	Long	Canada
Arcadium Lithium PLC	991.00 k	188.76 k shares	1.45	Common equity	Long	Jersey
Select Medical Corp	843.12 k	834.00 k principal	1.23	Debt	Long	USA
BLCO Bausch + Lomb Corporation	825.72 k	790.00 k principal	1.21	Debt	Long	Canada
Spirit AeroSystems Inc	766.52 k	690.00 k principal	1.12	Debt	Long	USA
ARCH Arch Resources, Inc.	719.66 k	4.19 k shares	1.05	Common equity	Long	USA
RVNC Revance Therapeutics, Inc.	719.16 k	199.21 k shares	1.05	Common equity	Long	USA
DOCN DigitalOcean Holdings, Inc.	702.94 k	795.00 k principal	1.03	Debt	Long	USA
Spirent Communications PLC	685.81 k	314.11 k shares	1.00	Common equity	Long	UK
DS Smith PLC	682.40 k	91.91 k shares	1.00	Common equity	Long	UK
Summit Materials, Inc.	673.63 k	13.22 k shares	0.99	Common equity	Long	USA
PARA Paramount Global	672.87 k	62.02 k shares	0.98	Common equity	Long	USA
Cineplex Inc	560.58 k	752.00 k principal	0.82	Debt	Long	Canada
VYX NCR Voyix Corporation	303.58 k	314.00 k principal	0.44	Debt	Long	USA
ATSG Air Transport Services Group, Inc.	262.20 k	11.94 k shares	0.38	Common equity	Long	USA
Bayer AG	258.31 k	12.59 k shares	0.38	Common equity	Long	Germany
CONTRA CINCOR PHARMA I	143.48 k	39.63 k shares	0.21	Equity derivative	N/A	USA
Long: SLBMSS TRS USD R V 00MFEDL FEDL01/-40 BPS / Short: SLBMSS TRS USD P E SLBMSS US PAY EQUITY Morgan Stanley & Co. LLC	142.97 k	3.24 mm other units	0.21	Equity derivative	N/A	USA
LSF11 A5 HoldCo LLC	139.42 k	135.00 k principal	0.20	Debt	Long	USA
CONTRA RESOLUTE FOREST	110.19 k	68.94 k shares	0.16	Equity derivative	N/A	USA
Cineplex Inc	107.39 k	13.78 k shares	0.16	Common equity	Long	Canada
CONTRA ALBIREO PHARMA	86.39 k	34.05 k shares	0.13	Equity derivative	N/A	USA
CONTRA CONCERT PHARMAC	67.62 k	154.95 k shares	0.10	Equity derivative	N/A	USA
PURCHASED USD / SOLD CAD Morgan Stanley & Co. LLC	54.36 k	1.00 contracts	0.08	DFE	N/A	USA
BMY Bristol-Myers Squibb Company	50.85 k	67.80 k shares	0.07	Equity derivative	N/A	USA
PURCHASED USD / SOLD GBP Morgan Stanley & Co. LLC	41.95 k	1.00 contracts	0.06	DFE	N/A	USA
CONTRA ABIOMED INC	24.31 k	13.89 k shares	0.04	Equity derivative	N/A	USA
UNITED STATES STEEL CORP	18.24 k	96.00 contracts	0.03	Equity derivative	N/A	USA
PURCHASED USD / SOLD EUR Morgan Stanley & Co. LLC	16.63 k	1.00 contracts	0.02	DFE	N/A	USA
PURCHASED USD / SOLD GBP Morgan Stanley & Co. LLC	13.57 k	1.00 contracts	0.02	DFE	N/A	USA
DIGITALOCEAN HOLDINGS INC	9.36 k	52.00 contracts	0.01	Equity derivative	N/A	USA
BAUSCH + LOMB CORP	7.11 k	49.00 contracts	0.01	Equity derivative	N/A	Canada
PURCHASED USD / SOLD CAD Morgan Stanley & Co. LLC	5.77 k	1.00 contracts	0.01	DFE	N/A	USA
FRONTIER COMMUNICATIONS PARENT	1.99 k	199.00 contracts	0.00	Equity derivative	N/A	USA
PURCHASED USD / SOLD EUR Morgan Stanley & Co. LLC	1.12 k	1.00 contracts	0.00	DFE	N/A	USA
PURCHASED USD / SOLD EUR Morgan Stanley & Co. LLC	828.65	1.00 contracts	0.00	DFE	N/A	USA
PURCHASED USD / SOLD EUR Morgan Stanley & Co. LLC	616.63	1.00 contracts	0.00	DFE	N/A	USA
PURCHASED USD / SOLD GBP Morgan Stanley & Co. LLC	338.18	1.00 contracts	0.00	DFE	N/A	USA
PURCHASED USD / SOLD EUR Morgan Stanley & Co. LLC	245.52	1.00 contracts	0.00	DFE	N/A	USA
PURCHASED USD / SOLD EUR Morgan Stanley & Co. LLC	219.77	1.00 contracts	0.00	DFE	N/A	USA
PURCHASED USD / SOLD GBP Morgan Stanley & Co. LLC	203.50	1.00 contracts	0.00	DFE	N/A	USA
PURCHASED GBP / SOLD USD Morgan Stanley & Co. LLC	187.88	1.00 contracts	0.00	DFE	N/A	UK
PURCHASED USD / SOLD GBP Morgan Stanley & Co. LLC	179.69	1.00 contracts	0.00	DFE	N/A	USA
PURCHASED USD / SOLD EUR Morgan Stanley & Co. LLC	124.52	1.00 contracts	0.00	DFE	N/A	USA
PURCHASED USD / SOLD EUR Morgan Stanley & Co. LLC	121.02	1.00 contracts	0.00	DFE	N/A	USA
PURCHASED USD / SOLD GBP Morgan Stanley & Co. LLC	85.17	1.00 contracts	0.00	DFE	N/A	USA
PURCHASED EUR / SOLD USD Morgan Stanley & Co. LLC	79.06	1.00 contracts	0.00	DFE	N/A	XX
PURCHASED EUR / SOLD USD Morgan Stanley & Co. LLC	56.71	1.00 contracts	0.00	DFE	N/A	XX
PURCHASED EUR / SOLD USD Morgan Stanley & Co. LLC	38.91	1.00 contracts	0.00	DFE	N/A	XX
PURCHASED GBP / SOLD USD Morgan Stanley & Co. LLC	37.08	1.00 contracts	0.00	DFE	N/A	UK
PURCHASED GBP / SOLD USD Morgan Stanley & Co. LLC	21.64	1.00 contracts	0.00	DFE	N/A	UK
PURCHASED EUR / SOLD USD Morgan Stanley & Co. LLC	16.53	1.00 contracts	0.00	DFE	N/A	XX
COP ConocoPhillips	9.75	0.09 shares	0.00	Common equity	Long	USA
PURCHASED EUR / SOLD USD Morgan Stanley & Co. LLC	8.56	1.00 contracts	0.00	DFE	N/A	XX
MORGAN STANLEY PRIME BROKER CA	5.22	7.31 shares	0.00	Short-term investment vehicle	Long	Canada
SEK CASH COLLATERAL	-1.07	-11.68 shares	-0.00	Short-term investment vehicle	Short	Sweden
MORGAN STANLEY PRIME BROKER EU	-1.40	-1.32 shares	-0.00		Short	Estonia
PURCHASED USD / SOLD EUR Morgan Stanley & Co. LLC	-10.58	1.00 contracts	-0.00	DFE	N/A	USA
PURCHASED USD / SOLD GBP Morgan Stanley & Co. LLC	-46.80	1.00 contracts	-0.00	DFE	N/A	USA
PURCHASED EUR / SOLD USD Morgan Stanley & Co. LLC	-81.21	1.00 contracts	-0.00	DFE	N/A	XX
PURCHASED EUR / SOLD USD Morgan Stanley & Co. LLC	-84.27	1.00 contracts	-0.00	DFE	N/A	XX
PURCHASED EUR / SOLD USD Morgan Stanley & Co. LLC	-85.38	1.00 contracts	-0.00	DFE	N/A	XX
PURCHASED EUR / SOLD USD Morgan Stanley & Co. LLC	-89.28	1.00 contracts	-0.00	DFE	N/A	XX
PURCHASED USD / SOLD EUR Morgan Stanley & Co. LLC	-97.68	1.00 contracts	-0.00	DFE	N/A	USA
PURCHASED GBP / SOLD USD Morgan Stanley & Co. LLC	-115.30	1.00 contracts	-0.00	DFE	N/A	UK
PURCHASED EUR / SOLD USD Morgan Stanley & Co. LLC	-127.19	1.00 contracts	-0.00	DFE	N/A	XX
PURCHASED GBP / SOLD USD Morgan Stanley & Co. LLC	-185.20	1.00 contracts	-0.00	DFE	N/A	UK
PURCHASED EUR / SOLD USD Morgan Stanley & Co. LLC	-202.52	1.00 contracts	-0.00	DFE	N/A	XX
PURCHASED EUR / SOLD USD Morgan Stanley & Co. LLC	-210.52	1.00 contracts	-0.00	DFE	N/A	XX
PURCHASED USD / SOLD GBP Morgan Stanley & Co. LLC	-246.89	1.00 contracts	-0.00	DFE	N/A	USA
PURCHASED EUR / SOLD USD Morgan Stanley & Co. LLC	-272.31	1.00 contracts	-0.00	DFE	N/A	XX
PURCHASED EUR / SOLD USD Morgan Stanley & Co. LLC	-292.76	1.00 contracts	-0.00	DFE	N/A	XX
PURCHASED EUR / SOLD USD Morgan Stanley & Co. LLC	-306.16	1.00 contracts	-0.00	DFE	N/A	XX
PURCHASED EUR / SOLD USD Morgan Stanley & Co. LLC	-310.81	1.00 contracts	-0.00	DFE	N/A	XX
PURCHASED GBP / SOLD USD Morgan Stanley & Co. LLC	-402.20	1.00 contracts	-0.00	DFE	N/A	UK
PURCHASED EUR / SOLD USD Morgan Stanley & Co. LLC	-426.79	1.00 contracts	-0.00	DFE	N/A	XX
PURCHASED EUR / SOLD USD Morgan Stanley & Co. LLC	-1.07 k	1.00 contracts	-0.00	DFE	N/A	XX
PURCHASED USD / SOLD CAD Morgan Stanley & Co. LLC	-2.02 k	1.00 contracts	-0.00	DFE	N/A	USA
PURCHASED CAD / SOLD USD Morgan Stanley & Co. LLC	-3.99 k	1.00 contracts	-0.01	DFE	N/A	Canada
DIGITALOCEAN HOLDINGS INC	-4.68 k	-52.00 contracts	-0.01	Equity derivative	N/A	USA
PURCHASED CAD / SOLD USD Morgan Stanley & Co. LLC	-33.57 k	1.00 contracts	-0.05	DFE	N/A	Canada
BLCO Bausch + Lomb Corporation	-44.16 k	-2.23 k shares	-0.06	Common equity	Short	Canada
PURCHASED GBP / SOLD USD Morgan Stanley & Co. LLC	-59.08 k	1.00 contracts	-0.09	DFE	N/A	UK
DOCN DigitalOcean Holdings, Inc.	-76.92 k	-2.02 k shares	-0.11	Common equity	Short	USA
Long: CVXMSS TRS USD R V 00MFEDL0 FEDL01 -40BPS / Short: CVXMSS TRS USD P E CVXMSS TRS RE Morgan Stanley & Co. LLC	-134.29 k	4.50 mm other units	-0.20	Equity derivative	N/A	USA
IP International Paper Company	-694.84 k	-11.81 k shares	-1.02	Common equity	Short	USA
CNR Core Natural Resources, Inc.	-725.39 k	-5.55 k shares	-1.06	Common equity	Short	USA
SNPS Synopsys, Inc.	-1.09 mm	-1.95 k shares	-1.59	Common equity	Short	USA