Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  OPPENHEIMER HOLDINGS INC
 2. Date of Event Requiring Statement (Month/Day/Year)
03/21/2002		 3. Issuer Name and Ticker or Trading Symbol
ADVANTAGE ADVISERS MULTI - SECTOR FUND I [XAMSX]
(Last)
(First)
(Middle)
PO BOX 2015 SUITE 1110, 20 EGLINTON AVENUE WEST		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
_____ Officer (give title below) __X__ Other (specify below)
See note 1
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

TORONTO, A6 M4R 1K8		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Shares 5,936.842
I
See note 2

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
OPPENHEIMER HOLDINGS INC
PO BOX 2015 SUITE 1110
20 EGLINTON AVENUE WEST
TORONTO, A6 M4R 1K8		       See note 1

Signatures

/s/ Deborah Kaback 02/05/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
 
Remarks:
1. The Reporting Person is the ultimate corporate parent of the managing member of the Fund's investment adviser.  The Investment Advisory Agreement was dated March 21, 2002.

2. Fund shares are held directly by the adviser and indirectly by the Reporting Person due to its interest in the adviser.  The Reporting Person disclaims beneficial owernship of any Fund shares except as to those in which it may be deemed to have an indirect pecuniary interest pursuant to Rule 16a-1(a)(2).

3. This filing is made on behalf of the Reporting Person and all subsidiaries of the Reporting Person.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

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