FS Multi-Strategy Alternatives Fund

Fund Profile

Fund profile

Tickers

FSMMX, FSMSX

Fund manager

FS Series Trust

Total assets

$278.44 mm

Liabilities

$31.94 mm

Net assets

$246.51 mm

Number of holdings

686.00

Top 200 of 686 Holdings

As of Mar 2022

Security	$Holding	Balance	% of Fund	Category	Position	Country
BALL Ball Corporation	4.47 mm	49.68 k shares	1.81	Common equity	Long	USA
SHW The Sherwin-Williams Company	3.77 mm	15.10 k shares	1.53	Common equity	Long	USA
CP Canadian Pacific Railway Limited	2.71 mm	32.85 k shares	1.10	Common equity	Long	Canada
MSFT Microsoft Corporation	2.52 mm	8.16 k shares	1.02	Common equity	Long	USA
HD The Home Depot, Inc.	2.08 mm	6.93 k shares	0.84	Common equity	Long	USA
UNP Union Pacific Corporation	2.03 mm	7.43 k shares	0.82	Common equity	Long	USA
Long: SGBVVRRU1 TRS USD R E BBG00KT290C6 / Short: SGBVVRRU1 TRS USD P V 00MFEDL0 FLOAT FF + 0/FEDL01	2.03 mm	19.66 mm other units	0.82	Interest rate derivative	N/A	USA
DHR Danaher Corporation	1.74 mm	5.95 k shares	0.71	Common equity	Long	USA
RSG Republic Services, Inc.	1.72 mm	12.99 k shares	0.70	Common equity	Long	USA
CTAS Cintas Corporation	1.68 mm	3.95 k shares	0.68	Common equity	Long	USA
COST Costco Wholesale Corporation	1.47 mm	2.55 k shares	0.60	Common equity	Long	USA
MTD Mettler-Toledo International Inc.	1.42 mm	1.03 k shares	0.58	Common equity	Long	USA
POOL Pool Corporation	1.41 mm	3.33 k shares	0.57	Common equity	Long	USA
Long: BNPUFSGB3 TRS USD R V 03MSOFR US0003M +0.23 PERCENT / Short: BNPUFSGB3 TRS USD P E BBG00PG3DYX5 BNP Paribas SA	1.40 mm	26.38 mm other units	0.57	Equity derivative	N/A	USA
Change Healthcare Holdings LLC / Change Healthcare Finance Inc	1.21 mm	1.20 mm principal	0.49	Debt	Long	USA
eG Global Finance PLC	1.19 mm	1.19 mm principal	0.48	Debt	Long	UK
GOOG Alphabet Inc.	1.17 mm	422.00 shares	0.48	Common equity	Long	USA
Five Point Operating Co LP / Five Point Capital Corp	1.16 mm	1.13 mm principal	0.47	Debt	Long	USA
Davide Campari-Milano NV	1.15 mm	98.23 k shares	0.47	Common equity	Long	Netherlands
Houghton Mifflin Harcourt Publishers Inc	1.09 mm	1.04 mm principal	0.44	Debt	Long	USA
MA Mastercard Incorporated	1.07 mm	3.00 k shares	0.43	Common equity	Long	USA
TGI Triumph Group, Inc.	1.06 mm	1.00 mm principal	0.43	Debt	Long	USA
US Acute Care Solutions LLC	1.04 mm	1.05 mm principal	0.42	Debt	Long	USA
Clear Channel International BV	1.03 mm	1.01 mm principal	0.42	Debt	Long	Netherlands
Spirit Loyalty Cayman Ltd / Spirit IP Cayman Ltd	1.03 mm	964.80 k principal	0.42	Debt	Long	Cayman Islands
FND Floor & Decor Holdings, Inc.	1.03 mm	12.68 k shares	0.42	Common equity	Long	USA
TSCO Tractor Supply Company	1.03 mm	4.40 k shares	0.42	Common equity	Long	USA
iStar Inc	951.98 k	966.00 k principal	0.39	Debt	Long	USA
BFH Bread Financial Holdings, Inc.	933.32 k	948.00 k principal	0.38	Debt	Long	USA
WASH Multifamily Acquisition Inc	931.84 k	928.00 k principal	0.38	Debt	Long	USA
INTU Intuit Inc.	918.89 k	1.91 k shares	0.37	Common equity	Long	USA
UBER Uber Technologies, Inc.	917.97 k	863.00 k principal	0.37	Debt	Long	USA
BX Blackstone Inc.	912.95 k	7.19 k shares	0.37	Common equity	Long	USA
Pactiv LLC	883.73 k	861.00 k principal	0.36	Debt	Long	USA
Maxim Crane Works Holdings Capital LLC	878.83 k	862.00 k principal	0.36	Debt	Long	USA
Watches of Switzerland Group PLC	878.26 k	58.65 k shares	0.36	Common equity	Long	UK
Legacy Lifepoint Health, Inc.	874.40 k	835.00 k principal	0.35	Debt	Long	USA
Flex Acquisition Co Inc	863.05 k	833.00 k principal	0.35	Debt	Long	USA
SVC Service Properties Trust	854.94 k	814.00 k principal	0.35	Debt	Long	USA
BWAY Holding Co	812.87 k	815.00 k principal	0.33	Debt	Long	USA
Dave & Buster's Inc	761.66 k	723.00 k principal	0.31	Debt	Long	USA
Waste Pro USA Inc	759.79 k	803.00 k principal	0.31	Debt	Long	USA
VGR Vector Group Ltd.	753.00 k	735.00 k principal	0.31	Debt	Long	USA
Royal Caribbean Cruises Ltd	746.67 k	701.00 k principal	0.30	Debt	Long	Liberia
Eldorado Resorts, Inc.	731.87 k	708.00 k principal	0.30	Debt	Long	USA
DE Deere & Company	729.55 k	1.76 k shares	0.30	Common equity	Long	USA
NWHM New Home Co Inc.	720.99 k	743.00 k principal	0.29	Debt	Long	USA
MCO Moody's Corporation	707.89 k	2.10 k shares	0.29	Common equity	Long	USA
CSX CSX Corporation	706.46 k	18.86 k shares	0.29	Common equity	Long	USA
VGR Vector Group Ltd.	664.58 k	728.00 k principal	0.27	Debt	Long	USA
SKY Skyline Champion Corporation	641.00 k	11.68 k shares	0.26	Common equity	Long	USA
CITGO Petroleum Corp	628.59 k	624.00 k principal	0.25	Debt	Long	USA
Specialty Building Products Holdings LLC / SBP Finance Corp	625.27 k	614.00 k principal	0.25	Debt	Long	USA
VSAT Viasat, Inc.	623.20 k	637.00 k principal	0.25	Debt	Long	USA
IRB Holding Corp	621.34 k	610.00 k principal	0.25	Debt	Long	USA
SPGI S&P Global Inc.	591.07 k	1.44 k shares	0.24	Common equity	Long	USA
Fortress Transportation and Infrastructure Investors LLC	586.81 k	561.00 k principal	0.24	Debt	Long	USA
TMO Thermo Fisher Scientific Inc.	571.16 k	967.00 shares	0.23	Common equity	Long	USA
Surgery Center Holdings Inc	551.58 k	553.00 k principal	0.22	Debt	Long	USA
L'Oreal SA	548.62 k	1.36 k shares	0.22	Common equity	Long	France
Mohegan Gaming & Entertainment	548.22 k	551.00 k principal	0.22	Debt	Long	USA
STWD Starwood Property Trust, Inc.	524.96 k	549.00 k principal	0.21	Debt	Long	USA
Altice France Holding SA	523.85 k	500.00 k principal	0.21	Debt	Long	Luxembourg
TKC Holdings Inc	522.87 k	537.00 k principal	0.21	Debt	Long	USA
Gates Global LLC / Gates Corp	520.42 k	519.00 k principal	0.21	Debt	Long	USA
EQH Equitable Holdings, Inc.	499.88 k	16.17 k shares	0.20	Common equity	Long	USA
Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp	492.73 k	494.00 k principal	0.20	Debt	Long	USA
Trivium Packaging Finance BV	447.74 k	449.00 k principal	0.18	Debt	Long	Netherlands
STWD Starwood Property Trust, Inc.	446.82 k	460.00 k principal	0.18	Debt	Long	USA
ARI Apollo Commercial Real Estate Finance, Inc.	434.00 k	434.00 k principal	0.18	Debt	Long	USA
Verscend Escrow Corp	412.29 k	396.00 k principal	0.17	Debt	Long	USA
RLJ RLJ Lodging Trust	397.66 k	418.00 k principal	0.16	Debt	Long	USA
American Greetings Corp	385.56 k	392.00 k principal	0.16	Debt	Long	USA
Pactiv LLC	384.99 k	377.00 k principal	0.16	Debt	Long	USA
Hermes International	378.61 k	265.00 shares	0.15	Common equity	Long	France
White Cap Parent LLC	368.88 k	375.00 k principal	0.15	Debt	Long	USA
Raptor Acquisition Corp / Raptor Co-Issuer LLC	367.39 k	382.00 k principal	0.15	Debt	Long	USA
Spirit AeroSystems Inc	363.06 k	350.00 k principal	0.15	Debt	Long	USA
CVS CVS Health Corporation	358.38 k	3.54 k shares	0.15	Common equity	Long	USA
RP Escrow Issuer LLC	353.14 k	361.00 k principal	0.14	Debt	Long	USA
Long: ASDZ223 TRS USD R E ASDZ22 INDEX / Short: ASDZ223 TRS USD P F .00000 FIXED 0.0 PERCENT JPMorgan Securities LLC	349.06 k	24.00 mm other units	0.14	Equity derivative	N/A	USA
Getty Images Inc	348.27 k	336.00 k principal	0.14	Debt	Long	USA
Jeld-Wen Inc	336.33 k	349.00 k principal	0.14	Debt	Long	USA
RWT Holdings Inc	332.30 k	338.00 k principal	0.13	Debt	Long	USA
SRCL Stericycle Inc	331.76 k	325.00 k principal	0.13	Debt	Long	USA
Prime Healthcare Services Inc	323.27 k	315.00 k principal	0.13	Debt	Long	USA
XHR LP	309.57 k	300.00 k principal	0.13	Debt	Long	USA
NUAN Nuance Communications, Inc.	309.47 k	301.00 k principal	0.13	Debt	Long	USA
H-Food Holdings LLC / Hearthside Finance Co Inc	295.51 k	307.00 k principal	0.12	Debt	Long	USA
Hadrian Merger Sub Inc	285.21 k	283.00 k principal	0.12	Debt	Long	USA
Long: RU20INTR TRS USD R E RU20INTR INDEX / Short: RU20INTR TRS USD P V 03MSOFR SOFR + 0.41 PERCENT BNP Paribas SA	278.65 k	10.00 mm other units	0.11	Equity derivative	N/A	USA
Clarios Global LP / Clarios US Finance Co	273.22 k	263.00 k principal	0.11	Debt	Long	XX
Valeant Pharmaceuticals International	272.76 k	263.00 k principal	0.11	Debt	Long	Canada
NGVT Ingevity Corporation	267.48 k	276.00 k principal	0.11	Debt	Long	USA
CommScope Inc	267.38 k	264.00 k principal	0.11	Debt	Long	USA
Icahn Enterprises LP / Icahn Enterprises Finance Corp	264.36 k	262.00 k principal	0.11	Debt	Long	USA
CPE Callon Petroleum Co.	263.24 k	248.00 k principal	0.11	Debt	Long	USA
NICKEL FUTURES 3 MONTHS	262.98 k	4.00 contracts	0.11	Commodity derivative	N/A	UK
DPZ Domino's Pizza, Inc.	261.30 k	642.00 shares	0.11	Common equity	Long	USA
TransDigm Inc	250.80 k	244.00 k principal	0.10	Debt	Long	USA
MCW Mister Car Wash, Inc.	237.75 k	16.08 k shares	0.10	Common equity	Long	USA
Scientific Games International Inc	235.75 k	230.00 k principal	0.10	Debt	Long	USA
VOC Escrow Ltd	232.10 k	249.00 k principal	0.09	Debt	Long	Bermuda
CP Atlas Buyer Inc	229.03 k	268.00 k principal	0.09	Debt	Long	USA
Kronos Acquisition Holdings Inc / KIK Custom Products Inc	221.08 k	261.00 k principal	0.09	Debt	Long	USA
Trivium Packaging Finance BV	220.26 k	221.00 k principal	0.09	Debt	Long	Netherlands
eG Global Finance PLC	218.40 k	213.00 k principal	0.09	Debt	Long	UK
Powdr Corp	212.52 k	207.00 k principal	0.09	Debt	Long	USA
CXW CoreCivic, Inc.	206.14 k	236.00 k principal	0.08	Debt	Long	USA
NYNY Empire Resorts Inc	202.07 k	207.00 k principal	0.08	Debt	Long	USA
GEO Group Inc/The	200.81 k	210.00 k principal	0.08	Debt	Long	USA
Hexion Inc	194.16 k	184.00 k principal	0.08	Debt	Long	USA
Midcap Financial Issuer Trust	185.09 k	209.00 k principal	0.08	Debt	Long	USA
Long: JPQIFSL14 TRS USD R E JPQIFSL1 INDEX / Short: JPQIFSL14 TRS USD P V 00MFEDL0 FEDL01 +.64 PERCENT FLOAT JPMorgan Securities LLC	184.92 k	19.48 mm other units	0.08	Equity derivative	N/A	USA
NICKEL FUTURES 3 MONTHS	180.80 k	3.00 contracts	0.07	Commodity derivative	N/A	UK
Herbalife Nutrition Ltd / HLF Financing Inc	178.64 k	174.00 k principal	0.07	Debt	Long	XX
CSC Holdings LLC	171.46 k	191.00 k principal	0.07	Debt	Long	USA
CXW CoreCivic, Inc.	169.21 k	164.00 k principal	0.07	Debt	Long	USA
Connect Finco SARL / Connect US Finco LLC	168.08 k	165.00 k principal	0.07	Debt	Long	XX
ARI Apollo Commercial Real Estate Finance, Inc.	167.34 k	184.00 k principal	0.07	Debt	Long	USA
Long: GSIRVA012 TRS USD R E GSIRVA012 / Short: GSIRVA012 TRS USD P F .15000 FIXED 0.15 PERCENT Goldman Sachs & Co. LLC	161.61 k	17.63 mm other units	0.07	Equity derivative	N/A	USA
GEO The GEO Group, Inc.	158.59 k	203.00 k principal	0.06	Debt	Long	USA
Acrisure LLC / Acrisure Finance Inc	158.45 k	171.00 k principal	0.06	Debt	Long	USA
APX Group Inc	158.19 k	173.00 k principal	0.06	Debt	Long	USA
HUB International Ltd	151.92 k	150.00 k principal	0.06	Debt	Long	USA
Metis Merger Sub LLC	149.95 k	159.00 k principal	0.06	Debt	Long	USA
SRS Distribution Inc	141.83 k	153.00 k principal	0.06	Debt	Long	USA
Level 3 Financing Inc	140.46 k	140.00 k principal	0.06	Debt	Long	USA
BroadStreet Partners Inc	130.84 k	140.00 k principal	0.05	Debt	Long	USA
HOME At Home Group Inc.	123.10 k	138.00 k principal	0.05	Debt	Long	USA
RADCQ New Rite Aid, LLC	104.17 k	113.00 k principal	0.04	Debt	Long	USA
NICKEL FUTURES 3 MONTHS	102.03 k	2.00 contracts	0.04	Commodity derivative	N/A	UK
Long: GSVICVC21 TRS USD R E GSVICVC2 INDEX / Short: GSVICVC21 TRS USD P F .15000 FIXED 0.15 PERCENTAGE Goldman Sachs & Co. LLC	101.72 k	11.46 mm other units	0.04	Equity derivative	N/A	USA
Sunoco LP / Sunoco Finance Corp	97.97 k	96.00 k principal	0.04	Debt	Long	USA
Promontoria Holding 264 BV	97.36 k	100.00 k principal	0.04	Debt	Long	Netherlands
LVMH Moet Hennessy Louis Vuitton SE	94.83 k	132.00 shares	0.04	Common equity	Long	France
CITGO Petroleum Corp	93.74 k	93.00 k principal	0.04	Debt	Long	USA
SWN Southwestern Energy Company	88.97 k	85.00 k principal	0.04	Debt	Long	USA
Treatt PLC	88.91 k	5.96 k shares	0.04	Common equity	Long	UK
NICKEL FUTURES 3 MONTHS	63.33 k	3.00 contracts	0.03	Commodity derivative	N/A	UK
NICKEL FUTURES 3 MONTHS	60.20 k	1.00 contracts	0.02	Commodity derivative	N/A	UK
NICKEL FUTURES 3 MONTHS	60.18 k	1.00 contracts	0.02	Commodity derivative	N/A	UK
NICKEL FUTURES 3 MONTHS	60.01 k	1.00 contracts	0.02	Commodity derivative	N/A	UK
NICKEL FUTURES 3 MONTHS	55.47 k	1.00 contracts	0.02	Commodity derivative	N/A	UK
NICKEL FUTURES 3 MONTHS	51.81 k	1.00 contracts	0.02	Commodity derivative	N/A	UK
NICKEL FUTURES 3 MONTHS	44.52 k	1.00 contracts	0.02	Commodity derivative	N/A	UK
RADCQ New Rite Aid, LLC	41.11 k	44.00 k principal	0.02	Debt	Long	USA
IQVIA Inc	35.65 k	35.00 k principal	0.01	Debt	Long	USA
Long: 60852021 TRS USD R V 03MSOFR USD/3M / Short: 60852021 TRS USD P E IBOXHY	35.47 k	4.22 mm other units	0.01	Credit derivative	N/A	USA
COPPER FUTURES 3 MONTHS	31.88 k	2.00 contracts	0.01	Commodity derivative	N/A	UK
iStar Inc	31.43 k	31.00 k principal	0.01	Debt	Long	USA
Long: SGIXUSGC4 TRS USD R E SGIXUSGC / Short: SGIXUSGC4 TRS USD P F .15000 TRS FINANCING FIXED 0.15 Societe Generale SA	31.38 k	11.55 mm other units	0.01	Equity derivative	N/A	USA
COPPER FUTURES 3 MONTHS	30.78 k	2.00 contracts	0.01	Commodity derivative	N/A	UK
ZINC FUTURES 3 MONTHS	29.99 k	2.00 contracts	0.01	Commodity derivative	N/A	UK
COPPER FUTURES 3 MONTHS	29.92 k	3.00 contracts	0.01	Commodity derivative	N/A	UK
COPPER FUTURES 3 MONTHS	29.47 k	2.00 contracts	0.01	Commodity derivative	N/A	UK
ALUMINUM FUTURES 3 MONTHS	28.66 k	-3.00 contracts	0.01	Commodity derivative	N/A	UK
EURO-BUND FUTURE JUN22	22.07 k	-33.00 contracts	0.01	Interest rate derivative	N/A	Germany
Long: SGIXSTEP3 TRS USD R E SGIXSTEP INDEX / Short: SGIXSTEP3 TRS USD P F .40000 FIXED +0.40 PERCENT Societe Generale SA	21.59 k	11.61 mm other units	0.01	Equity derivative	N/A	USA
CCO Holdings LLC / CCO Holdings Capital Corp	20.52 k	22.00 k principal	0.01	Debt	Long	USA
NICKEL FUTURES 3 MONTHS	20.15 k	1.00 contracts	0.01	Commodity derivative	N/A	UK
ALUMINUM FUTURES 3 MONTHS	19.45 k	2.00 contracts	0.01	Commodity derivative	N/A	UK
COPPER FUTURES 3 MONTHS	19.19 k	2.00 contracts	0.01	Commodity derivative	N/A	UK
COPPER FUTURES 3 MONTHS	18.75 k	1.00 contracts	0.01	Commodity derivative	N/A	UK
TIN FUTURES 3 MONTHS	17.80 k	-1.00 contracts	0.01	Commodity derivative	N/A	UK
COPPER FUTURES 3 MONTHS	17.66 k	1.00 contracts	0.01	Commodity derivative	N/A	UK
COPPER FUTURES 3 MONTHS	17.63 k	2.00 contracts	0.01	Commodity derivative	N/A	UK
TIN FUTURES 3 MONTHS	17.32 k	-1.00 contracts	0.01	Commodity derivative	N/A	UK
ZINC FUTURES 3 MONTHS	17.15 k	1.00 contracts	0.01	Commodity derivative	N/A	UK
US 2YR NOTE (CBT) JUN22	16.43 k	-17.00 contracts	0.01	Interest rate derivative	N/A	USA
TIN FUTURES 3 MONTHS	16.22 k	1.00 contracts	0.01	Commodity derivative	N/A	UK
ALUMINUM FUTURES 3 MONTHS	16.07 k	1.00 contracts	0.01	Commodity derivative	N/A	UK
COPPER FUTURES 3 MONTHS	15.95 k	1.00 contracts	0.01	Commodity derivative	N/A	UK
ZINC FUTURES 3 MONTHS	15.65 k	1.00 contracts	0.01	Commodity derivative	N/A	UK
COPPER FUTURES 3 MONTHS	15.10 k	1.00 contracts	0.01	Commodity derivative	N/A	UK
ZINC FUTURES 3 MONTHS	15.05 k	1.00 contracts	0.01	Commodity derivative	N/A	UK
ZINC FUTURES 3 MONTHS	14.90 k	1.00 contracts	0.01	Commodity derivative	N/A	UK
COPPER FUTURES 3 MONTHS	14.83 k	1.00 contracts	0.01	Commodity derivative	N/A	UK
ZINC FUTURES 3 MONTHS	14.79 k	1.00 contracts	0.01	Commodity derivative	N/A	UK
ZINC FUTURES 3 MONTHS	14.18 k	1.00 contracts	0.01	Commodity derivative	N/A	UK
EURO-BOBL FUTURE JUN22	13.58 k	-10.00 contracts	0.01	Interest rate derivative	N/A	Germany
COPPER FUTURES 3 MONTHS	13.42 k	1.00 contracts	0.01	Commodity derivative	N/A	UK
ALUMINUM FUTURES 3 MONTHS	13.08 k	1.00 contracts	0.01	Commodity derivative	N/A	UK
ALUMINUM FUTURES 3 MONTHS	12.72 k	1.00 contracts	0.01	Commodity derivative	N/A	UK
ALUMINUM FUTURES 3 MONTHS	12.47 k	1.00 contracts	0.01	Commodity derivative	N/A	UK
TIN FUTURES 3 MONTHS	12.44 k	1.00 contracts	0.01	Commodity derivative	N/A	UK
ALUMINUM FUTURES 3 MONTHS	12.11 k	1.00 contracts	0.00	Commodity derivative	N/A	UK
COPPER FUTURES 3 MONTHS	11.82 k	1.00 contracts	0.00	Commodity derivative	N/A	UK
COPPER FUTURES 3 MONTHS	11.45 k	1.00 contracts	0.00	Commodity derivative	N/A	UK
ALUMINUM FUTURES 3 MONTHS	11.02 k	1.00 contracts	0.00	Commodity derivative	N/A	UK
COPPER FUTURES 3 MONTHS	10.85 k	1.00 contracts	0.00	Commodity derivative	N/A	UK
WTI CRUDE FUTURE MAY22	10.44 k	-2.00 contracts	0.00	Commodity derivative	N/A	USA
LEAD FUTURES 3 MONTHS	10.24 k	2.00 contracts	0.00	Commodity derivative	N/A	UK
PURCHASED INR / SOLD USD Deutsche Bank AG	9.60 k	1.00 contracts	0.00	DFE	N/A	India
AUST 10Y BOND FUT JUN22	9.52 k	-6.00 contracts	0.00	Interest rate derivative	N/A	Australia
COPPER FUTURES 3 MONTHS	9.37 k	1.00 contracts	0.00	Commodity derivative	N/A	UK
COPPER FUTURES 3 MONTHS	9.37 k	1.00 contracts	0.00	Commodity derivative	N/A	UK
ALUMINUM FUTURES 3 MONTHS	8.84 k	1.00 contracts	0.00	Commodity derivative	N/A	UK
ALUMINUM FUTURES 3 MONTHS	8.80 k	1.00 contracts	0.00	Commodity derivative	N/A	UK
WTI CRUDE FUTURE MAY22	8.28 k	-1.00 contracts	0.00	Commodity derivative	N/A	UK