N-PX: Filer Information

Filer CIK

0001105076

Filer CCC

********

Date of Report

06/30/2025

Are you a Registered Management Investment Company or an Institutional Manager?

Registered Management Investment Company

Filer Investment Company Type

Form N-1A Filer (Mutual Fund)

Is this a LIVE or TEST Filing?

LIVE

TEST

Is this an electronic copy of an official filing submitted in paper format?

Submission Contact Information

Name

Phone Number

E-mail Address

Notification Information

Notify via Filing Website only?

N-PX: Cover Page

Name and address of reporting person:

Name of reporting person (For registered management investment companies, provide exact name of registrant as specified in charter)

ARBITRAGE FUNDS

Street 1

104 5th Avenue

Street 2

9th Floor

City

New York

State/Country

NEW YORK

Zip code and zip code extension or foreign postal code

10011

Telephone number of reporting person, including area code:

6467274446

Name and address of agent for service:

Name of agent for service

Street 1

Street 2

City

State/Country

Zip code and zip code extension or foreign postal code

Reporting Period:

Report for the year ended June 30, 2025

SEC Investment Company Act or Form 13F File Number:

811-09815

CRD Number (if any):

Other SEC File Number (if any):

Legal Entity Identifier (if any):

Report Type (check only one):

Registered Management Investment Company.

Fund Voting Report (Check here if the registered management investment company held one or more securities it was entitled to vote.)

Fund Notice Report (Check here if the registered management investment company did not hold any securities it was entitled to vote.)

Institutional Manager.

Institutional Manager Voting Report (Check here if all proxy votes of this reporting manager are reported in this report.)

Institutional Manager Notice Report (Check here if no proxy votes are reported in this report and complete the notice report filing explanation section below)

Institutional Manager Combination Report (Check here if a portion of the proxy votes for this reporting manager are reported in this report and a portion are reported by other reporting person(s).)

Do you wish to provide explanatory information pursuant to Special Instruction B.4?:

Yes

Additional information:

N-PX: Summary - Included Managers

Number of Included Institutional Managers:

Included Institutional Managers:

NONE

N-PX: Summary - Included Series

Number of Series:

Information about the Series:1

Series Identification Number:

S000006440

Series Name:

Arbitrage Fund

LEI:

5ID2Z4T6QF54X8TFRS62

Information about the Series:2

Series Identification Number:

S000030113

Series Name:

Water Island Event-Driven Fund

LEI:

71ZPS0ACY0O0VMTK8636

Information about the Series:3

Series Identification Number:

S000039281

Series Name:

Water Island Credit Opportunities Fund

LEI:

5493006WV4T6QSURTK55

N-PX: Signature Block

Reporting Person:

ARBITRAGE FUNDS

By (Signature):

John S. Orrico

By (Printed Signature):

John S. Orrico

By (Title):

President

Date:

08/19/2025

N-PX: Filer Information

Submission Contact Information

Notification Information

N-PX: Series/Class (Contract) Information

N-PX: Cover Page

Name and address of reporting person:

Name and address of agent for service:

Report Type (check only one):

N-PX: Summary - Included Managers

N-PX: Summary - Included Series

Information about the Series:1

Information about the Series:2

Information about the Series:3

N-PX: Signature Block