0001752724-19-089866.txt : 20190802
0001752724-19-089866.hdr.sgml : 20190802
20190802160901
ACCESSION NUMBER: 0001752724-19-089866
CONFORMED SUBMISSION TYPE: N-CEN
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20190531
FILED AS OF DATE: 20190802
DATE AS OF CHANGE: 20190802
EFFECTIVENESS DATE: 20190802
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: ARBITRAGE FUNDS
CENTRAL INDEX KEY: 0001105076
IRS NUMBER: 000000000
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0531
FILING VALUES:
FORM TYPE: N-CEN
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-09815
FILM NUMBER: 19996073
BUSINESS ADDRESS:
STREET 1: C/O ALPS FUND SERVICES, INC.
STREET 2: 1290 BROADWAY, SUITE 1100
CITY: DENVER
STATE: CO
ZIP: 80203
BUSINESS PHONE: 303-623-2577
MAIL ADDRESS:
STREET 1: C/O ALPS FUND SERVICES, INC.
STREET 2: 1290 BROADWAY, SUITE 1100
CITY: DENVER
STATE: CO
ZIP: 80203
0001105076
S000006440
THE ARBITRAGE FUND
C000017637
Class R
ARBFX
C000017638
Class I
ARBNX
C000115401
Class C
ARBCX
C000127228
Class A
ARGAX
0001105076
S000030113
WATER ISLAND DIVERSIFIED EVENT-DRIVEN FUND
C000092484
Class R
AEDFX
C000092485
Class I
AEDNX
C000115402
Class C
AEFCX
C000127229
Class A
AGEAX
0001105076
S000039281
THE WATER ISLAND CREDIT OPPORTUNITIES FUND
C000120977
Class R
ARCFX
C000120978
Class I
ACFIX
C000120979
Class C
ARCCX
C000127230
Class A
AGCAX
0001105076
S000047725
Water Island Long/Short Fund (formerly, The Arbitrage Tactical Equity Fund)
C000149945
Class R
ATQFX
C000149946
Class I
ATQIX
C000149947
Class C
ATQCX
C000149948
Class A
ATQAX
N-CEN
1
primary_doc.xml
X0201
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LIVE
0001105076
XXXXXXXX
811-09815
false
false
false
N-1A
true
ARBITRAGE FUNDS
811-09815
0001105076
549300NPBJYDNFZ58M30
C/O ALPS FUND SERVICES, INC.
1290 BROADWAY, SUITE 1100
DENVER
80203
US-CO
US
303-623-2577
State Street Bank and Trust Company
1 Lincoln Street
Boston
02111
617-786-3000
Custody and Accounting records
Y
N
N-1A
4
Y
Robert P. Herrmann
000000000
N
Nancy Morris
000000000
N
Stephen R. Byers
000000000
N
Francis X. Tracy
000000000
N
John C. Alvarado
000000000
N
Christina Chew
002828425
Y
John S. Orrico
000000000
Y
Ludmila Chwazik
000000000
41 Madison Avenue
42nd Floor
New York
10010
XXXXXX
N
N
N
N
N
N
N
ALPS Distributors, Inc.
8-34626
000016853
0000000000
N
N
Ernst & Young LLP
42
254900H1VLSDPE6LJK37
N
N
N
N
N
N
N
THE Water Island Long/Short Fund
S000047725
549300Q0ZNWYZ0LQM757
Y
4
0
0
N/A
Y
N
Y
N
State Street Bank and Trust Company
571474TGEMMWANRLN572
N
N
N/A
N/A
N/A
Rule 12d1-1 (17 CFR 270.12d1-1)
Rule 32a-4 (17 CFR 270.32a-4)
Rule 22d-1 (17 CFR 270.22d-1)
Y
Y
Y
N
Water Island Capital, LLC
801-57341
000113358
IEUW0AW31PB5M40NL881
N
DST Systems, Inc.
84-00448
21B7QCD05XOK0YTYOP98
N
N
N
J.P. Morgan Securities LLC
ZBUT11V806EZRVTWT807
N
Refinitiv US Holdings Inc.
549300NF240HXJO7N016
N
IHS Markit Ltd.
549300HLPTRASHS0E726
GB
N
Bloomberg L.P.
549300B56MD0ZC402L06
N
ICE Data Services, Inc.
5493000NQ9LYLDBCTL34
N
N
Skandinaviska Enskilda Banken AB
F3JS33DEI6XQ4ZBPTN86
SE
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
State Street Bank International GmbH
ZMHGNT7ZPKZ3UFZ8EO46
DE
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Aktiengesellschaft (Amsterdam, Noord Holland, NL, Branch)
7LTWFZYICNSX8D621K86
NL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Bank Hapoalim B.M.
B6ARUI4946ST4S7WOU88
IL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Skandinaviska Enskilda Banken AB (Oslo, Oslo, NO, Branch)
F3JS33DEI6XQ4ZBPTN86
NO
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
UniCredit Bank Austria AG
D1HEB8VEU6D9M8ZUXG17
AT
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Skandinaviska Enskilda Banken A/S
F3JS33DEI6XQ4ZBPTN86
DK
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Banco Nacional de Mexico, S.A., Integrante del Grupo Financiero Banamex
2SFFM4FUIE05S37WFU55
MX
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Societa per Azioni
529900SS7ZWCX82U3W60
IT
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Mizuho Bank, Ltd. (Minato ku, Tokyo, JP, Branch)
RB0PEZSDGCO3JS6CEU02
JP
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Hongkong and Shanghai Banking Corporation Limited (Sydney, NSW, AU, Branch)
2HI3YI5320L3RW6NJ957
AU
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Standard Bank of South Africa Limited
QFC8ZCW3Q5PRXU1XTM60
ZA
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
State Street Bank and Trust Company
571474TGEMMWANRLN572
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
Deutsche Bank Aktiengesellschaft (Makati City, Metro Manila, PH, Branch)
7LTWFZYICNSX8D621K86
PH
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Aktiengesellschaft (Madrid, Madrid, ES, Branch)
7LTWFZYICNSX8D621K86
ES
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
State Street Trust Company Canada
549300L71XG2CTQ2V827
CA
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Citibank, National Association (Singapore, SG, Branch)
E57ODZWZ7FF32TWEFA76
SG
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Hongkong and Shanghai Banking Corporation Limited (Auckland, Auckland, NZ, Branch)
2HI3YI5320L3RW6NJ957
NZ
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Clearstream Banking S.A.
549300OL514RA0SXJJ44
LU
N
Y
Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)
Nordea Bank AB (publ) (Helsinki, Uusimaa, FI, Branch)
6SCPQ280AIY8EP3XFW53
FI
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
UBS Switzerland AG
549300WOIFUSNYH0FL22
CH
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Standard Chartered Bank (Hong Kong) Limited
X5AV1MBDXGRPX5UGMX13
HK
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
State Street Bank and Trust Company (Edinburgh, GB, Branch)
571474TGEMMWANRLN572
GB
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
N
DST Systems, Inc.
21B7QCD05XOK0YTYOP98
N
N
N
State Street Bank and Trust Company
571474TGEMMWANRLN572
N
N
N
Goldman Sachs & Co. LLC
8-129
000000361
FOR8UP27PHTHYVLBNG30
1451.15000000
National Financial Services Corporation
8-26740
000013041
549300EJM5SBRQSYKC50
390.10000000
Jones & Associates, Inc.
N/A
000006888
00000000000000000000
1531.01000000
Deutsche Bank Securities Inc.
8-17822
000002525
9J6MBOOO7BECTDTUZW19
178.92000000
Cowen and Company, LLC
8-22522
000007616
549300WR155U7DVMIW58
404.72000000
Bloomberg Tradebook LLC
8-49219
000040881
549300P0PVQNO43T7K36
2601.51000000
Imperial Capital, LLC
8-50397
000043744
549300I8X15KSI64Y307
183.56000000
Elevation, LLC
8-67306
000140341
549300BC5VSPZG47RP47
127.61000000
Morgan Stanley & Co. LLC
8-15869
000008209
9R7GPTSO7KV3UQJZQ078
3137.14000000
Jefferies LLC
8-15074
000002347
58PU97L1C0WSRCWADL48
271.81000000
11106.62000000
BMO Capital Markets Corp.
008-34344
000016686
RUC0QBLBRPRCU4W1NE59
42909.09000000
State Street Bank and Trust Company
N/A
000000000
571474TGEMMWANRLN572
12469380.73000000
Citigroup Global Markets Inc.
8-8177
000007059
MBNUM2BPBDO7JBLYG310
5695.49000000
Nomura Holdings, Inc.
8-24357
000110814
549300B3CEAHYG7K8164
JP
6460.72000000
Bloomberg Tradebook LLC
8-49219
000040881
549300P0PVQNO43T7K36
636.95000000
Barclays Capital Inc.
8-41342
000019714
AC28XWWI3WIBK2824319
25300.00000000
Pershing LLC
8-17574
000007560
ZI8Q1A8EI8LQFJNM0D94
6919.76000000
Goldman Sachs & Co. LLC
8-129
000000361
FOR8UP27PHTHYVLBNG30
7504218.19000000
Morgan Stanley & Co. LLC
8-15869
000008209
9R7GPTSO7KV3UQJZQ078
12658566.85000000
RBC Capital Markets, LLC
8-45411
000031194
549300LCO2FLSSVFFR64
17280.00000000
32895637.66000000
N
2212542.13000000
Uncommitted
100000000.00000000
N
Committed
100000000.00000000
N
N
N
N
THE WATER ISLAND CREDIT OPPORTUNITIES FUND
S000039281
5493006WV4T6QSURTK55
Y
4
0
0
N/A
N
N
Y
N
State Street Bank and Trust Company
571474TGEMMWANRLN572
N
N
N/A
N/A
N/A
Rule 22d-1 (17 CFR 270.22d-1)
Rule 12d1-1 (17 CFR 270.12d1-1)
Rule 32a-4 (17 CFR 270.32a-4)
Y
Y
Y
N
Water Island Capital, LLC
801-57341
000113358
IEUW0AW31PB5M40NL881
N
DST Systems, Inc.
84-00448
21B7QCD05XOK0YTYOP98
N
N
N
IHS Markit Ltd.
549300HLPTRASHS0E726
GB
N
Refinitiv US Holdings Inc.
549300NF240HXJO7N016
N
ICE Data Services, Inc.
5493000NQ9LYLDBCTL34
N
J.P. Morgan Securities LLC
ZBUT11V806EZRVTWT807
N
Bloomberg L.P.
549300B56MD0ZC402L06
N
N
Bank Handlowy w Warszawie Spolka Akcyjna
XLEZHWWOI4HFQDGL4793
PL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Skandinaviska Enskilda Banken AB
F3JS33DEI6XQ4ZBPTN86
SE
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Hongkong and Shanghai Banking Corporation Limited (Sydney, NSW, AU, Branch)
2HI3YI5320L3RW6NJ957
AU
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
UBS Switzerland AG
549300WOIFUSNYH0FL22
CH
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
State Street Trust Company Canada
549300L71XG2CTQ2V827
CA
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
State Street Bank and Trust Company (Edinburgh, GB, Branch)
571474TGEMMWANRLN572
GB
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Skandinaviska Enskilda Banken AB (Oslo, Oslo, NO, Branch)
F3JS33DEI6XQ4ZBPTN86
NO
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Aktiengesellschaft (Madrid, Madrid, ES, Branch)
7LTWFZYICNSX8D621K86
ES
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
State Street Bank International GmbH
ZMHGNT7ZPKZ3UFZ8EO46
DE
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Banco Nacional de Mexico, S.A., Integrante del Grupo Financiero Banamex
2SFFM4FUIE05S37WFU55
MX
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Clearstream Banking S.A.
549300OL514RA0SXJJ44
LU
N
Y
Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)
The Hongkong and Shanghai Banking Corporation Limited (Auckland, Auckland, NZ, Branch)
2HI3YI5320L3RW6NJ957
NZ
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Aktiengesellschaft (Makati City, Metro Manila, PH, Branch)
7LTWFZYICNSX8D621K86
PH
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
State Street Bank and Trust Company
571474TGEMMWANRLN572
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
UniCredit Bank Austria AG
D1HEB8VEU6D9M8ZUXG17
AT
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Aktiengesellschaft (Amsterdam, Noord Holland, NL, Branch)
7LTWFZYICNSX8D621K86
NL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Societa per Azioni
529900SS7ZWCX82U3W60
IT
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Mizuho Bank, Ltd. (Minato ku, Tokyo, JP, Branch)
RB0PEZSDGCO3JS6CEU02
JP
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
N
DST Systems, Inc.
21B7QCD05XOK0YTYOP98
N
N
N
State Street Bank and Trust Company
571474TGEMMWANRLN572
N
N
N
Morgan Stanley & Co. LLC
8-15869
000008209
9R7GPTSO7KV3UQJZQ078
648.19000000
Goldman Sachs & Co. LLC
8-129
000000361
FOR8UP27PHTHYVLBNG30
303.02000000
Bloomberg Tradebook LLC
8-49219
000040881
549300P0PVQNO43T7K36
2549.50000000
Jefferies LLC
8-15074
000002347
58PU97L1C0WSRCWADL48
456.30000000
Merrill Lynch, Pierce, Fenner & Smith Incorporated
8-7221
000007691
8NAV47T0Y26Q87Y0QP81
56.34000000
Elevation, LLC
8-67306
000140341
549300BC5VSPZG47RP47
234.00000000
4247.35000000
Merrill Lynch, Pierce, Fenner & Smith Incorporated
8-7221
000007691
8NAV47T0Y26Q87Y0QP81
16958940.84000000
Goldman Sachs & Co. LLC
8-129
000000361
FOR8UP27PHTHYVLBNG30
40362841.47000000
Barclays Capital Inc.
8-41342
000019714
AC28XWWI3WIBK2824319
8781684.23000000
STIFEL NICOLAUS & CO INC.
8-1447
000000793
5WUVMA08EYG4KEUPW589
15372747.19000000
MarketAxess Corporation
8-50727
000044542
GPSMMRI21JE7ZCVYF972
10186670.35000000
Robert W. Baird & Co. Incorporated
8-00497
000008158
549300772UJAHRD6LO53
10711933.62000000
Citigroup Global Markets Inc.
8-8177
000007059
MBNUM2BPBDO7JBLYG310
11960357.65000000
Morgan Stanley & Co. LLC
8-15869
000008209
9R7GPTSO7KV3UQJZQ078
9920943.50000000
State Street Bank and Trust Company
N/A
000000000
571474TGEMMWANRLN572
203363371.22000000
Jefferies LLC
8-15074
000002347
58PU97L1C0WSRCWADL48
14543588.09000000
401616326.61000000
N
53703225.92000000
Committed
100000000.00000000
Uncommitted
100000000.00000000
N
N
N
N
THE ARBITRAGE FUND
S000006440
5ID2Z4T6QF54X8TFRS62
Y
4
0
0
N/A
N
N
Y
N
State Street Bank and Trust Company
571474TGEMMWANRLN572
N
N
N/A
N/A
N/A
Rule 22d-1 (17 CFR 270.22d-1)
Rule 32a-4 (17 CFR 270.32a-4)
Rule 12d1-1 (17 CFR 270.12d1-1)
Y
N
N
N
Water Island Capital, LLC
801-57341
000113358
IEUW0AW31PB5M40NL881
N
DST Systems, Inc.
84-00448
21B7QCD05XOK0YTYOP98
N
N
N
J.P. Morgan Securities LLC
ZBUT11V806EZRVTWT807
N
IHS Markit Ltd.
549300HLPTRASHS0E726
GB
N
Refinitiv US Holdings Inc.
549300NF240HXJO7N016
N
ICE Data Services, Inc.
5493000NQ9LYLDBCTL34
N
Bloomberg L.P.
549300B56MD0ZC402L06
N
N
UniCredit Bank Austria AG
D1HEB8VEU6D9M8ZUXG17
AT
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Skandinaviska Enskilda Banken AB (Oslo, Oslo, NO, Branch)
F3JS33DEI6XQ4ZBPTN86
NO
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Standard Chartered Bank (Hong Kong) Limited
X5AV1MBDXGRPX5UGMX13
HK
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Mizuho Bank, Ltd. (Minato ku, Tokyo, JP, Branch)
RB0PEZSDGCO3JS6CEU02
JP
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Bank Handlowy w Warszawie Spolka Akcyjna
XLEZHWWOI4HFQDGL4793
PL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Citibank, National Association (Singapore, SG, Branch)
E57ODZWZ7FF32TWEFA76
SG
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Hongkong and Shanghai Banking Corporation Limited (Auckland, Auckland, NZ, Branch)
2HI3YI5320L3RW6NJ957
NZ
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
BNP Paribas Securities Services (Athens, Attica, GR, Branch)
549300WCGB70D06XZS54
GR
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
State Street Trust Company Canada
549300L71XG2CTQ2V827
CA
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Clearstream Banking S.A.
549300OL514RA0SXJJ44
LU
N
Y
Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)
Skandinaviska Enskilda Banken AB (Helsinki, Uusimaa, FI, Branch)
F3JS33DEI6XQ4ZBPTN86
FI
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Ceskoslovenska obchodni banka, a. s.
Q5BP2UEQ48R75BOTCB92
CZ
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Aktiengesellschaft (Madrid, Madrid, ES, Branch)
7LTWFZYICNSX8D621K86
ES
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Standard Chartered Bank (Thai) Public Company Limited
549300O1LQYCQ7G1IM57
TH
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank (Malaysia) Berhad
529900DLWFR8HK7DR278
MY
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Nordea Bank Danmark A/S
549300LX0YIEPRTY0Z32
DK
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
State Street Bank and Trust Company (Edinburgh, GB, Branch)
571474TGEMMWANRLN572
GB
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Skandinaviska Enskilda Banken AB
F3JS33DEI6XQ4ZBPTN86
SE
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Banco Nacional de Mexico, S.A., Integrante del Grupo Financiero Banamex
2SFFM4FUIE05S37WFU55
MX
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Societa per Azioni
529900SS7ZWCX82U3W60
IT
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Standard Bank of South Africa Limited
QFC8ZCW3Q5PRXU1XTM60
ZA
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
State Street Bank and Trust Company
571474TGEMMWANRLN572
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
The Hongkong and Shanghai Banking Corporation Limited (Sydney, NSW, AU, Branch)
2HI3YI5320L3RW6NJ957
AU
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Aktiengesellschaft (Amsterdam, Noord Holland, NL, Branch)
7LTWFZYICNSX8D621K86
NL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Aktiengesellschaft (Makati City, Metro Manila, PH, Branch)
7LTWFZYICNSX8D621K86
PH
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
UBS Switzerland AG
549300WOIFUSNYH0FL22
CH
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
State Street Bank International GmbH
ZMHGNT7ZPKZ3UFZ8EO46
DE
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Citibank Europe Public Limited Company (Budapest, HU, Branch)
N1FBEDJ5J41VKZLO2475
HU
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Bank Hapoalim B.M.
B6ARUI4946ST4S7WOU88
IL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Aktiengesellschaft (Jakarta, Jakarta, ID, Branch)
7LTWFZYICNSX8D621K86
ID
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Aktiengesellschaft (Taipei City, TW, Branch)
25490016G0WR60ANOK04
TW
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
N
DST Systems, Inc.
21B7QCD05XOK0YTYOP98
N
N
N
State Street Bank and Trust Company
571474TGEMMWANRLN572
N
N
N
Jones & Associates, Inc.
N/A
000006888
00000000000000000000
183379.13000000
Citigroup Global Markets Inc.
8-8177
000007059
MBNUM2BPBDO7JBLYG310
183481.72000000
Robert W. Baird & Co. Incorporated
8-00497
000008158
549300772UJAHRD6LO53
156565.14000000
Goldman Sachs & Co. LLC
8-129
000000361
FOR8UP27PHTHYVLBNG30
534500.08000000
Bloomberg Tradebook LLC
8-49219
000040881
549300P0PVQNO43T7K36
570807.33000000
UBS Securities LLC
8-22651
000007654
T6FIZBDPKLYJKFCRVK44
187301.77000000
Merrill Lynch, Pierce, Fenner & Smith Incorporated
8-7221
000007691
8NAV47T0Y26Q87Y0QP81
329557.27000000
Jefferies LLC
8-15074
000002347
58PU97L1C0WSRCWADL48
141183.24000000
Morgan Stanley & Co. LLC
8-15869
000008209
9R7GPTSO7KV3UQJZQ078
495908.70000000
Barclays Capital Inc.
8-41342
000019714
AC28XWWI3WIBK2824319
173951.71000000
4307167.50000000
Wells Fargo Securities, LLC
8-65876
000126292
VYVVCKR63DVZZN70PB21
7981488.00000000
Citigroup Global Markets Inc.
8-8177
000007059
MBNUM2BPBDO7JBLYG310
33223781.86000000
Societe Generale
N/A
000000000
O2RNE8IBXP4R0TD8PU41
FR
9151493.02000000
Joh. Berenberg, Gossler & Co. KG
8-68821
000156757
529900UC2OD7II24Z667
DE
9922100.50000000
Goldman Sachs & Co. LLC
8-129
000000361
FOR8UP27PHTHYVLBNG30
4245455752.83000000
SunTrust Robinson Humphrey, Inc.
008-17212
000006271
CSVTK36R0PNGXEM7NS14
17289541.83000000
Merrill Lynch, Pierce, Fenner & Smith Incorporated
8-7221
000007691
8NAV47T0Y26Q87Y0QP81
199129684.36000000
Morgan Stanley & Co. LLC
8-15869
000008209
9R7GPTSO7KV3UQJZQ078
5909093283.19000000
State Street Bank and Trust Company
N/A
000000000
571474TGEMMWANRLN572
6948257522.04000000
Gowell Securities Corporation
N/A
000003501
00000000000000000000
8798352.08000000
17903455277.44000000
N
1762422420.87000000
Uncommitted
100000000.00000000
N
Committed
100000000.00000000
N
N
N
N
THE ARBITRAGE EVENT-DRIVEN FUND
S000030113
71ZPS0ACY0O0VMTK8636
Y
4
0
0
N/A
N
N
Y
N
N
State Street Bank and Trust Company
571474TGEMMWANRLN572
N
N
N/A
2088.93000000
20.00000000
Rule 22d-1 (17 CFR 270.22d-1)
Rule 32a-4 (17 CFR 270.32a-4)
Rule 12d1-1 (17 CFR 270.12d1-1)
Y
Y
Y
N
Water Island Capital, LLC
801-57341
000113358
IEUW0AW31PB5M40NL881
N
DST Systems, Inc.
84-00448
21B7QCD05XOK0YTYOP98
N
N
N
Bloomberg L.P.
549300B56MD0ZC402L06
N
IHS Markit Ltd.
549300HLPTRASHS0E726
GB
N
J.P. Morgan Securities LLC
ZBUT11V806EZRVTWT807
N
ICE Data Services, Inc.
5493000NQ9LYLDBCTL34
N
Refinitiv US Holdings Inc.
549300NF240HXJO7N016
N
N
Clearstream Banking S.A.
549300OL514RA0SXJJ44
LU
N
Y
Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)
Standard Chartered Bank (Thai) Public Company Limited
549300O1LQYCQ7G1IM57
TH
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Hongkong and Shanghai Banking Corporation Limited (Auckland, Auckland, NZ, Branch)
2HI3YI5320L3RW6NJ957
NZ
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Aktiengesellschaft (Madrid, Madrid, ES, Branch)
7LTWFZYICNSX8D621K86
ES
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
State Street Trust Company Canada
549300L71XG2CTQ2V827
CA
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Mizuho Bank, Ltd. (Minato ku, Tokyo, JP, Branch)
RB0PEZSDGCO3JS6CEU02
JP
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank (Malaysia) Berhad
529900DLWFR8HK7DR278
MY
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
State Street Bank International GmbH
ZMHGNT7ZPKZ3UFZ8EO46
DE
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Aktiengesellschaft (Taipei City, TW, Branch)
25490016G0WR60ANOK04
TW
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Aktiengesellschaft (Amsterdam, Noord Holland, NL, Branch)
7LTWFZYICNSX8D621K86
NL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Societa per Azioni
529900SS7ZWCX82U3W60
IT
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Banco Nacional de Mexico, S.A., Integrante del Grupo Financiero Banamex
2SFFM4FUIE05S37WFU55
MX
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Standard Bank of South Africa Limited
QFC8ZCW3Q5PRXU1XTM60
ZA
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Nordea Bank Danmark A/S
549300LX0YIEPRTY0Z32
DK
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
The Hongkong and Shanghai Banking Corporation Limited (Sydney, NSW, AU, Branch)
2HI3YI5320L3RW6NJ957
AU
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
State Street Bank and Trust Company (Edinburgh, GB, Branch)
571474TGEMMWANRLN572
GB
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Ceskoslovenska obchodni banka, a. s.
Q5BP2UEQ48R75BOTCB92
CZ
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
UniCredit Bank Austria AG
D1HEB8VEU6D9M8ZUXG17
AT
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
UBS Switzerland AG
549300WOIFUSNYH0FL22
CH
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Skandinaviska Enskilda Banken AB (Oslo, Oslo, NO, Branch)
F3JS33DEI6XQ4ZBPTN86
NO
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Standard Chartered Bank (Hong Kong) Limited
X5AV1MBDXGRPX5UGMX13
HK
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Skandinaviska Enskilda Banken AB
F3JS33DEI6XQ4ZBPTN86
SE
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Citibank, National Association (Singapore, SG, Branch)
E57ODZWZ7FF32TWEFA76
SG
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Aktiengesellschaft (Jakarta, Jakarta, ID, Branch)
7LTWFZYICNSX8D621K86
ID
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
State Street Bank and Trust Company
571474TGEMMWANRLN572
N
N
Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))
Skandinaviska Enskilda Banken AB (Helsinki, Uusimaa, FI, Branch)
F3JS33DEI6XQ4ZBPTN86
FI
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Deutsche Bank Aktiengesellschaft (Makati City, Metro Manila, PH, Branch)
7LTWFZYICNSX8D621K86
PH
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Bank Hapoalim B.M.
B6ARUI4946ST4S7WOU88
IL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
Bank Handlowy w Warszawie Spolka Akcyjna
XLEZHWWOI4HFQDGL4793
PL
N
Y
Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)
N
DST Systems, Inc.
21B7QCD05XOK0YTYOP98
N
N
N
State Street Bank and Trust Company
571474TGEMMWANRLN572
N
N
N
Cowen and Company, LLC
8-22522
000007616
549300WR155U7DVMIW58
10494.11000000
Bloomberg Tradebook LLC
8-49219
000040881
549300P0PVQNO43T7K36
77741.97000000
UBS Securities LLC
8-22651
000007654
T6FIZBDPKLYJKFCRVK44
21449.19000000
National Financial Services Corporation
8-26740
000013041
549300EJM5SBRQSYKC50
11835.92000000
Jefferies LLC
8-15074
000002347
58PU97L1C0WSRCWADL48
21168.07000000
Morgan Stanley & Co. LLC
8-15869
000008209
9R7GPTSO7KV3UQJZQ078
73506.64000000
SunTrust Robinson Humphrey, Inc.
008-17212
000006271
CSVTK36R0PNGXEM7NS14
10378.89000000
Merrill Lynch, Pierce, Fenner & Smith Incorporated
8-7221
000007691
8NAV47T0Y26Q87Y0QP81
24252.09000000
Citigroup Global Markets Inc.
8-8177
000007059
MBNUM2BPBDO7JBLYG310
13341.37000000
Goldman Sachs & Co. LLC
8-129
000000361
FOR8UP27PHTHYVLBNG30
49156.23000000
428733.82000000
Morgan Stanley & Co. LLC
8-15869
000008209
9R7GPTSO7KV3UQJZQ078
615532595.15000000
Merrill Lynch, Pierce, Fenner & Smith Incorporated
8-7221
000007691
8NAV47T0Y26Q87Y0QP81
41723612.46000000
Barclays Capital Inc.
8-41342
000019714
AC28XWWI3WIBK2824319
11488007.13000000
RBC Capital Markets, LLC
8-45411
000031194
549300LCO2FLSSVFFR64
8452715.00000000
Jefferies LLC
8-15074
000002347
58PU97L1C0WSRCWADL48
11943810.90000000
Citigroup Global Markets Inc.
8-8177
000007059
MBNUM2BPBDO7JBLYG310
15425551.01000000
Robert W. Baird & Co. Incorporated
8-00497
000008158
549300772UJAHRD6LO53
25894755.30000000
State Street Bank and Trust Company
N/A
000000000
571474TGEMMWANRLN572
556133878.36000000
JPMorgan Chase & Co.
8-35008
000000079
8I5DZWZKVSZI1NUHU748
9674602.25000000
Goldman Sachs & Co. LLC
8-129
000000361
FOR8UP27PHTHYVLBNG30
356004054.80000000
1749205410.74000000
N
138549753.88000000
Uncommitted
100000000.00000000
N
Committed
100000000.00000000
N
N
N
true
INTERNAL CONTROL RPT
2
arbitrage_funds-n-cen.txt
Report of Independent Registered Public
Accounting Firm
To the Shareholders and
Board of Trustees of
The Arbitrage Funds
In planning and performing our audit of the
financial statements of The Arbitrage Funds
("the Trust") as of and for the year ended
May 31, 2019, in accordance with the
standards of the Public Company
Accounting Oversight Board (United
States), we considered the Trust's internal
control over financial reporting, including
controls over safeguarding securities, as a
basis for designing our auditing procedures
for the purpose of expressing our opinion on
the financial statements and to comply with
the requirements of Form N-CEN, but not
for the purpose of expressing an opinion on
the effectiveness of the Trust's internal
control over financial reporting. Accordingly,
we express no such opinion.
The management of the Trust is responsible
for establishing and maintaining effective
internal control over financial reporting. In
fulfilling this responsibility, estimates and
judgments by management are required to
assess the expected benefits and related
costs of controls. A company's internal
control over financial reporting is a process
designed to provide reasonable assurance
regarding the reliability of financial reporting
and the preparation of financial statements
for external purposes in accordance with
U.S. generally accepted accounting
principles. A company's internal control over
financial reporting includes those policies
and procedures that (1) pertain to the
maintenance of records that, in reasonable
detail, accurately and fairly reflect the
transactions and dispositions of the assets
of the company; (2) provide reasonable
assurance that transactions are recorded as
necessary to permit preparation of financial
statements in accordance with U.S.
generally accepted accounting principles,
and that receipts and expenditures of the
company are being made only in
accordance with authorizations of
management and directors of the company;
and (3) provide reasonable assurance
regarding prevention or timely detection of
unauthorized acquisition, use or disposition
of a company's assets that could have a
material effect on the financial statements.
Because of its inherent limitations, internal
control over financial reporting may not
prevent or detect misstatements. Also,
projections of any evaluation of
effectiveness to future periods are subject to
the risk that controls may become
inadequate because of changes in
conditions, or that the degree of compliance
with the policies or procedures may
deteriorate.
A deficiency in internal control over financial
reporting exists when the design or
operation of a control does not allow
management or employees, in the normal
course of performing their assigned
functions, to prevent or detect
misstatements on a timely basis. A material
weakness is a deficiency, or a combination
of deficiencies, in internal control over
financial reporting, such that there is a
reasonable possibility that a material
misstatement of the company's annual or
interim financial statements will not be
prevented or detected on a timely basis.
Our consideration of the Trust's internal
control over financial reporting was for the
limited purpose described in the first
paragraph and would not necessarily
disclose all deficiencies in internal control
that might be material weaknesses under
standards established by the Public
Company Accounting Oversight Board
(United States). However, we noted no
deficiencies in the Trust's internal control
over financial reporting and its operation,
including controls over safeguarding
securities, that we consider to be a material
weakness as defined above as of May 31,
2019.
This report is intended solely for the
information and use of management and the
Board of Directors of The Arbitrage Funds
and the Securities and Exchange
Commission and is not intended to be and
should not be used by anyone other than
these specified parties.
/s/Ernst & Young LLP
Minneapolis, MN
July 25, 2019
1