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.

Caesars Entertainment, Inc.

Penumbra, Inc.

Bio-Techne Corporation

Apogee Therapeutics, Inc.

Crinetics Pharmaceuticals, Inc.

Globalstar, Inc.

Roku, Inc.

Lantheus Holdings, Inc.

MarketAxess Holdings Inc.

Atkore Inc.

Healthcare

Industrials

Financial Services

Communication Services

Consumer Cyclical

Technology

Utilities

Consumer Defensive

Real Estate

The Arbitrage Funds

ARB Holdings & Sector Breakdown