AGEAX — Water Island Event-Driven Fund
Data updated: 2026-08-12
AGEAX — Water Island Event-Driven Fund. United States Multi-Cap / All-Cap Blend / Core Thematic Equity. Holdings, fees, performance and SEC filings.
AGEAX Fund Overview
AGEAX — Water Island Event-Driven Fund is a US mutual fund managed by Arbitrage Funds, categorised as United States Multi-Cap / All-Cap Blend / Core Thematic Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Arbitrage Funds
- Category: United States Multi-Cap / All-Cap Blend / Core Thematic Equity
- Assets under management: $50.07M
- 1-year return: 7.5%
- Ticker: AGEAX
- SEC CIK: 0001105076
- SEC series ID: S000030113
- Share class ID: C000127229
AGEAX Holdings
Top 10 holdings of Water Island Event-Driven Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Morgan Stanley Prime Broker US | 15.67% |
| Janus Henderson Group PLC | 4.71% |
| Electronic Arts Inc | 4.61% |
| Endeavor Group Holdings Inc | 4.07% |
| Warner Bros Discovery Inc | 3.99% |
| Chart Industries Inc | 3.99% |
| Penumbra Inc | 3.85% |
| Echostar Corp. | 3.79% |
| Caesars Entertainment Inc | 3.73% |
| LiveRamp Holdings Inc | 3.47% |
AGEAX Portfolio Allocation
Asset-class allocation of Water Island Event-Driven Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 86.2% |
| Other | 15.7% |
| Fixed Income | 13.9% |
| Loans | 2.0% |
| Derivatives | 0.5% |
AGEAX Performance
Total returns for AGEAX (as of 2026-09-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 1.9% |
| 1 year | 7.5% |
| 3 years (annualised) | 6.7% |
| 5 years (annualised) | 2.7% |
AGEAX Risk Information
Risk metrics for AGEAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 1.8%
AGEAX Costs and Fees
AGEAX costs about $171 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.71%
- Gross expense ratio: 1.88%
- Portfolio turnover: 195%
- Brokerage commissions: 28.54 bps of average net assets (SEC N-CEN)
AGEAX Cashflows
Over the 12 months to 2026-05, Water Island Event-Driven Fund had net outflows of $11.92M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-05 | −$186.32K |
| 2026-04 | −$171.31K |
| 2026-03 | −$183.16K |
| 2026-02 | −$253.72K |
| 2026-01 | −$65.74K |
| 2025-12 | −$6.68M |
AGEAX Debt Constituents
Largest debt holdings of Water Island Event-Driven Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Echostar Corp. | 3.79% |
| Chart Industries, Inc. | 2.07% |
| Ncr Atleos LLC | 1.84% |
| Bausch + Lomb Corp. | 1.63% |
| Kennedy-Wilson, Inc. | 1.62% |
| Rapid7, Inc. | 1.27% |
| Iheartcommunications, Inc. | 0.73% |
| Iheartcommunications, Inc. | 0.56% |
| Gladstone Capital Corp. | 0.44% |
AGEAX Prospectus and SEC Filings
Official Water Island Event-Driven Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-09-26
- Prospectus (485BPOS) — filed 2024-09-27
- Prospectus (485BPOS) — filed 2023-09-28
- Portfolio holdings (N-PORT) — filed 2026-07-07
- Portfolio holdings (N-PORT) — filed 2026-04-28
- Portfolio holdings (N-PORT) — filed 2026-01-05
- Annual census (N-CEN) — filed 2026-08-12
- Annual census (N-CEN) — filed 2025-08-14
Related Funds
Other United States Multi-Cap / All-Cap Blend / Core Thematic Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.