AQR Arbitrage Portfolio holdings
AQR Arbitrage specializes in merger arbitrage, convertible arbitrage and other event-driven strategies, and is a joint venture between AQR Capital Management and CNH Capital Management. It began managing money in 2001 and traded as CNH Partners until 2021. CNH Capital Management is majority-owned by Mark Mitchell and Todd Pulvino, while Clifford Asness is the principal owner of AQR Capital Management. In merger arbitrage it buys shares of the company being acquired, and when the buyer pays in its own stock it typically hedges by shorting the buyer's shares. In convertible arbitrage it buys convertible securities trading below their fundamental value. AQR Arbitrage is also hired by AQR to run the AQR Diversified Arbitrage Fund, and its clients include pension plans, charities, insurance companies and sovereign wealth funds.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Roku
ROKU
|
+$101M |
| 2 |
AES
AES
|
+$79.3M |
| 3 |
Silicon Laboratories
SLAB
|
+$72.3M |
| 4 |
Electronic Arts
EA
|
+$67.7M |
| 5 |
Nuvalent
NUVL
|
+$64.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Air Lease Corp
AL
|
+$109M |
| 2 |
Amicus Therapeutics
FOLD
|
+$84.5M |
| 3 |
OS
OneStream Inc
OS
|
+$81.4M |
| 4 |
Hologic
HOLX
|
+$79.3M |
| 5 |
Clearwater Analytics
CWAN
|
+$77.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 31.15% |
| 2 | Miscellaneous | 21.77% |
| 3 | Communication Services | 8.57% |
| 4 | Utilities | 8.21% |
| 5 | Healthcare | 7.7% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
226
DELISTED
Churchill Capital Corp XI
CCXI
| $5.77M | 0.08% |
330,571
+21,541
| +7% | +$229K |
2026 Q1
1 quarter
|
|
227
Collective Acquisition Corp
CCAQ
| $5.71M | 0.08% |
547,354
+2,400
| +0.4% | +$24.9K |
2025 Q2
4 quarters
|
|
228
Dynamix Corp III
DNMX
$272M
| $5.63M | 0.08% |
563,941
+6,155
| +1% | +$61.5K |
2026 Q1
1 quarter
|
|
229
Pyrophyte Acquisition Corp II
PAII
$283M
| $5.61M | 0.08% |
549,669
+3,251
| +0.6% | +$33.1K |
2025 Q3
3 quarters
|
|
230
Long Table Growth Corp Units
LTGRU
$152M
| $5.58M | 0.08% |
+558,400
| New | +$5.59M |
2026 Q2
0 quarters
|
|
231
White Pearl Acquisition Corp
WPAC
$159M
| $5.5M | 0.08% |
548,954
+16,229
| +3% | +$162K |
2026 Q1
1 quarter
|
|
|
SPKL
232
DELISTED
Spark I Acquisition Corp
SPKL
| $5.49M | 0.08% |
437,689
-195,640
| -31% | -$2.33M |
2023 Q4
10 quarters
|
|
233
AA Mission Acquisition Corp II
YCY
$152M
| $5.45M | 0.08% |
536,609
| – | – |
2025 Q4
2 quarters
|
|
234
West Enclave Merger Corp
WENC
$161M
| $5.45M | 0.08% |
+549,150
| New | +$5.44M |
2026 Q2
0 quarters
|
|
235
Evolution Global Acquisition Corp
EVOX
$325M
| $5.44M | 0.08% |
542,954
+7,241
| +1% | +$72.5K |
2025 Q4
2 quarters
|
|
236
Lake Superior Acquisition Corp
LKSP
$162M
| $5.42M | 0.08% |
534,756
+6,213
| +1% | +$62.8K |
2025 Q4
2 quarters
|
|
237
Inflection Point Acquisition Corp VI
IPFX
$343M
| $5.4M | 0.08% |
+522,380
| New | +$5.41M |
2026 Q2
0 quarters
|
|
238
Invest Green Acquisition Corp
IGAC
$242M
| $5.4M | 0.08% |
538,974
+7,700
| +1% | +$76.9K |
2026 Q1
1 quarter
|
|
239
Hall Chadwick Acquisition Corp
HCAC
$298M
| $5.39M | 0.08% |
537,310
+5,087
| +1% | +$50.8K |
2026 Q1
1 quarter
|
|
240
Charlton Aria Acquisition Corp
CHAR
$121M
| $5.36M | 0.08% |
498,029
+2,677
| +0.5% | +$28.7K |
2024 Q4
6 quarters
|
|
241
Fortress Value Acquisition Corp V
FVAV
$365M
| $5.33M | 0.08% |
525,087
+12,992
| +3% | +$131K |
2026 Q1
1 quarter
|
|
242
Chenghe Acquisition III Co
CHEC
$180M
| $5.2M | 0.07% |
512,011
+6,344
| +1% | +$64.2K |
2025 Q4
2 quarters
|
|
243
Shreya Acquisition Group
SAGU
$162M
| $5.05M | 0.07% |
+511,050
| New | +$5.05M |
2026 Q2
0 quarters
|
|
244
GalaxyEdge Acquisition Corp Units
GLED.U
| $5.03M | 0.07% |
499,360
+9,360
| +2% | +$94.4K |
2026 Q1
1 quarter
|
|
245
Leapfrog Acquisition Corp
LFAC
| $4.97M | 0.07% |
497,050
+5,858
| +1% | +$58.5K |
2026 Q1
1 quarter
|
|
246
Plutonian Acquisition Corp II Units
PLUN.U
| $4.96M | 0.07% |
+489,515
| New | +$4.94M |
2026 Q2
0 quarters
|
|
247
Aeon Acquisition I Corp Units
AESPU
$259M
| $4.95M | 0.07% |
+490,176
| New | +$4.93M |
2026 Q2
0 quarters
|
|
248
Metals Acquisition Corp II
MTAL
$310M
| $4.88M | 0.07% |
+480,453
| New | +$4.87M |
2026 Q2
0 quarters
|
|
|
SVAC
249
DELISTED
Spring Valley Acquisition Corp III
SVAC
| $4.85M | 0.07% |
472,579
-183,023
| -28% | -$1.9M |
2025 Q4
2 quarters
|
|
250
Oceanhawk Acquisition Corp
OHAC
$251M
| $4.78M | 0.07% |
+482,580
| New | +$4.77M |
2026 Q2
0 quarters
|
|
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AQR Arbitrage's Q2 2026 Portfolio in Review
As of Q2 2026, AQR Arbitrage held 738 positions worth $7.02B, up 15% from $6.09B the previous quarter. Its ten largest holdings account for 25% of the portfolio.
AQR Arbitrage's Q2 2026 filing shows 177 new, 297 increased, 54 reduced and 104 closed positions. Its largest new stake was Roku: 831,445 shares worth $114M. The largest sale was Air Lease Corp, an estimated $109M.
By sector, the portfolio is most concentrated in Financials at 31% of assets, up from 31% a quarter earlier, followed by Miscellaneous and Communication Services.
- AQR Arbitrage's largest Q2 2026 buy was Roku: 831,445 shares worth $114M.
- AQR Arbitrage added most to AES in Q2 2026, an estimated $79.3M increase.
- AQR Arbitrage's biggest Q2 2026 reduction was Teck Resources, cutting an estimated $12.5M.
- AQR Arbitrage fully exited Air Lease Corp in Q2 2026, selling an estimated $109M.
- AQR Arbitrage's ten largest holdings make up 25% of its $7.02B portfolio in Q2 2026.
- AQR Arbitrage opened 177 new positions and closed 104 in Q2 2026.
- AQR Arbitrage's portfolio value rose 15% quarter-over-quarter to $7.02B.
Based on AQR Arbitrage's 13F filing for Q2 2026, filed 14 Aug 2026.