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AA

AQR Arbitrage Portfolio holdings

AUM $6.09B
1-Year Est. Return 27.01%
This Fund
S&P 500
This Quarter Est. Return
+3.38%
1 Year Est. Return
+27.01%
3 Year Est. Return
+77.25%
5 Year Est. Return
+160.09%
10 Year Est. Return
+1,244.43%
AUM
$4.36B
AUM Growth
+$127M
Cap. Flow
-$883M
Cap. Flow %
-20.26%
Top 10 Hldgs %
23.47%
Holding
494
New
108
Increased
21
Reduced
89
Closed
104

Top Buys

Rank Stock Value
1
HES
Hess
HES
+$63M
2
SWTX
SpringWorks Therapeutics
SWTX
+$58.7M
3
TXNM
TXNM Energy Inc
TXNM
+$53.5M
4
AVDX
AvidXchange
AVDX
+$40.7M
5
SKX
Skechers
SKX
+$39.6M

Top Sells

Rank Stock Value
1
DFS
Discover Financial Services
DFS
+$78M
2
BERY
Berry Global Group, Inc.
BERY
+$54.3M
3
BECN
Beacon Roofing Supply, Inc.
BECN
+$37.2M
4
HEES
H&E Equipment Services
HEES
+$33.6M
5
ITCI
Intra-Cellular Therapies Inc.
ITCI
+$33.3M

Sector Composition

Rank Sector Weight
1 Financials 22.27%
2 Energy 6.34%
3 Technology 4.75%
4 Healthcare 4.23%
5 Utilities 3.51%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
QSEAR
276
Quartzsea Acquisition Corp Rights
QSEAR
$130K ﹤0.01%
+500,000
New +$130K
PLMKW
277
Plum Acquisition Corp IV Warrants
PLMKW
$3.88M
$126K ﹤0.01%
649,999
– –
CCAQW
278
Collective Acquisition Corp Warrants
CCAQW
$114K ﹤0.01%
+599,985
New +$124K
ANSCW
279
Agriculture & Natural Solutions Acquisition Corp Warrant
ANSCW
$111K ﹤0.01%
740,550
– –
CHARR
280
Charlton Aria Acquisition Corp Rights
CHARR
$111K ﹤0.01%
737,999
– –
ATMVR
281
DELISTED
AlphaVest Acquisition Corp Right
ATMVR
$103K ﹤0.01%
344,586
– –
NOEMR
282
CO2 Energy Transition Corp Right
NOEMR
$103K ﹤0.01%
590,000
– –
ISRLW
283
DELISTED
Israel Acquisitions Corp Warrant
ISRLW
$88.5K ﹤0.01%
397,864
– –
RDACR
284
Rising Dragon Acquisition Corp Rights
RDACR
$84.5K ﹤0.01%
491,982
– –
FVNNR
285
Future Vision II Acquisition Corp Right
FVNNR
$83.2K ﹤0.01%
489,295
– –
NAMMW
286
Namib Minerals Warrants
NAMMW
$82.4K ﹤0.01%
+422,574
New +$116K
HSPTR
287
DELISTED
Horizon Space Acquisition II Corp Right
HSPTR
$77K ﹤0.01%
550,000
– –
YHNAR
288
YHN Acquisition I Ltd Right
YHNAR
$74.4K ﹤0.01%
535,136
– –
AAM.WS
289
DELISTED
AA Mission Acquisition Corp Warrants
AAM.WS
$73.3K ﹤0.01%
744,772
– –
DTSQR
290
DT Cloud Star Acquisition Corp Right
DTSQR
$72K ﹤0.01%
589,854
– –
PELIR
291
DELISTED
Pelican Acquisition Corp Right
PELIR
$70.3K ﹤0.01%
+370,000
New +$67.2K
RFAIR
292
RF Acquisition Corp II Right
RFAIR
$66.7K ﹤0.01%
741,123
– –
CAPNR
293
Cayson Acquisition Corp Right
CAPNR
$66.1K ﹤0.01%
472,387
– –
COLAR
294
Columbus Acquisition Corp Rights
COLAR
$65.9K ﹤0.01%
+300,000
New +$63.8K
SVIIR
295
DELISTED
Spring Valley Acquisition Corp II Rights
SVIIR
$62.9K ﹤0.01%
459,084
– –
DMAAR
296
Drugs Made In America Acquisition Corp Rights
DMAAR
$62.5K ﹤0.01%
500,000
– –
SPKLW
297
Spark I Acquisition Corp Warrant
SPKLW
$8.25M
$56K ﹤0.01%
292,331
– –
RIBBR
298
Ribbon Acquisition Corp Rights
RIBBR
$55K ﹤0.01%
250,000
– –
HYAC.WS
299
DELISTED
Haymaker Acquisition Corp 4 Warrants
HYAC.WS
$53.5K ﹤0.01%
148,621
– –
NOEMW
300
CO2 Energy Transition Corp Warrant
NOEMW
$53.1K ﹤0.01%
590,000
– –
10 11
12
13 14

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AQR Arbitrage's Q2 2025 Portfolio in Review

As of Q2 2025, AQR Arbitrage held 494 positions worth $4.36B, up 3% from $4.23B the previous quarter. Its ten largest holdings account for 23% of the portfolio.

AQR Arbitrage withdrew a net $883M in Q2 2025, closing 104 positions and reducing 89 holdings. Its most notable exit was Discover Financial Services, an estimated $78M position sold in full.

By sector, the portfolio is most concentrated in Financials at 22% of assets, up from 20% a quarter earlier, followed by Energy and Technology.

Against the trend, AQR Arbitrage opened a new position in SpringWorks Therapeutics worth $62M.

  • AQR Arbitrage's largest Q2 2025 buy was SpringWorks Therapeutics: 1,319,782 shares worth $62M.
  • AQR Arbitrage added most to Hess in Q2 2025, an estimated $63M increase.
  • AQR Arbitrage's biggest Q2 2025 reduction was GSR III Acquisition Corp, cutting an estimated $12.6M.
  • AQR Arbitrage fully exited Discover Financial Services in Q2 2025, selling an estimated $78M.
  • AQR Arbitrage's ten largest holdings make up 23% of its $4.36B portfolio in Q2 2025.
  • AQR Arbitrage opened 108 new positions and closed 104 in Q2 2025.
  • AQR Arbitrage's portfolio value rose 3% quarter-over-quarter to $4.36B.

Based on AQR Arbitrage's 13F filing for Q2 2025, filed 14 Aug 2025.