ARB is the first ETF by AltShares Trust and the first merger arbitrage fund that hedges foreign currency exposure. The fund is passively managed to invest in a developed market index of all-cap equities, focused on publicly-announced stock-for-stock mergers or acquisitions. The fund takes long positions on 30-50 takeover targets, while shorting the acquiring firms to hedge the acquirers stock price decline. The index rebalances and reconstitutes twice a month. ARB hedges its FX risks against the USD using forward currency or futures contracts. The fund may also hold positions in cash when the number of takeover targets are not met or when deals are consummated.

Exact Sciences Corporation

Hologic, Inc.

Clearwater Analytics Holdings, Inc.

Masimo Corporation

Electronic Arts Inc.

Confluent, Inc.

Norfolk Southern Corporation

Penumbra, Inc.

Sealed Air Corporation

RAPT Therapeutics, Inc.

Financial Services

Healthcare

Industrials

Technology

Communication Services

Utilities

Real Estate

Basic Materials

Consumer Cyclical

Consumer Defensive

AltShares Merger Arbitrage ETF

ARB Holdings & Sector Breakdown