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 | |
|---|---|---|---|---|---|---|---|
301
Future Vision II Acquisition Corp
FVN
$103M
| $2.33M | 0.03% |
212,622
-96,965
| -31% | -$1.05M |
2024 Q4
6 quarters
|
|
302
FIGX Capital Acquisition Corp
FIGX
$201M
| $2.3M | 0.03% |
224,545
+400
| +0.2% | +$4.08K |
2025 Q3
3 quarters
|
|
303
Range Capital Acquisition Corp
RANG
$73.3M
| $2.29M | 0.03% |
214,197
-502,018
| -70% | -$5.32M |
2025 Q1
5 quarters
|
|
304
Solarius Capital Acquisition Corp
SOCA
$244M
| $2.26M | 0.03% |
219,783
+1,303
| +0.6% | +$13.3K |
2025 Q3
3 quarters
|
|
305
Lakeshore Acquisition III Corp
LCCC
| $2.17M | 0.03% |
207,859
| – | – |
2025 Q3
3 quarters
|
|
306
Pantages Capital Acquisition Corp
PGAC
$119M
| $2.14M | 0.03% |
201,934
-307,001
| -60% | -$3.23M |
2025 Q1
5 quarters
|
|
307
Eureka Acquisition Corp
EURK
$25.2M
| $2.13M | 0.03% |
171,422
+100
| +0.1% | +$1.15K |
2024 Q3
7 quarters
|
|
308
Rice Acquisition Corporation 3
KRSP
$484M
| $2.06M | 0.03% |
195,875
+4,236
| +2% | +$44K |
2025 Q4
2 quarters
|
|
309
Cayson Acquisition Corp
CAPN
| $2.04M | 0.03% |
184,373
| – | – |
2024 Q4
6 quarters
|
|
|
FWACU
310
Futurewave Acquisition Corp Units
FWACU
$78.3M
| $2.03M | 0.03% |
+202,612
| New | +$2.03M |
2026 Q2
0 quarters
|
|
311
Ribbon Acquisition Corp
RIBB
$39.7M
| $1.99M | 0.03% |
185,283
| – | – |
2025 Q1
5 quarters
|
|
|
RAAQW
312
DELISTED
Real Asset Acquisition Corp Warrants
RAAQW
| $1.9M | 0.03% |
528,533
-7,118
| -1% | -$18.8K |
2025 Q2
4 quarters
|
|
313
SC II Acquisition Corp
SCII
$255M
| $1.89M | 0.03% |
188,207
+2,203
| +1% | +$22.1K |
2026 Q1
1 quarter
|
|
314
RF Acquisition Corp II
RFAI
$317M
| $1.88M | 0.03% |
170,479
+1,379
| +0.8% | +$15.1K |
2024 Q3
7 quarters
|
|
315
Pono Capital Four Inc
PONO
$174M
| $1.88M | 0.03% |
+188,295
| New | +$1.87M |
2026 Q2
0 quarters
|
|
316
SUMA Acquisition Corp
SUMA
$234M
| $1.73M | 0.02% |
+175,554
| New | +$1.73M |
2026 Q2
0 quarters
|
|
317
SPACSphere Acquisition Corp
SSAC
$238M
| $1.73M | 0.02% |
172,992
+2,352
| +1% | +$23.4K |
2026 Q1
1 quarter
|
|
318
DELISTED
YHN Acquisition I Ltd
YHNA
| $1.71M | 0.02% |
157,137
| – | – |
2024 Q4
6 quarters
|
|
319
Peace Acquisition Corp
PECE
$84.9M
| $1.57M | 0.02% |
+158,640
| New | +$1.57M |
2026 Q2
0 quarters
|
|
320
Black Hawk Acquisition Corp
BKHA
$21.6M
| $1.57M | 0.02% |
133,108
+903
| +0.7% | +$10.7K |
2024 Q2
8 quarters
|
|
321
Melar Acquisition Corp I
MACI
$84M
| $1.47M | 0.02% |
135,133
-861,366
| -86% | -$9.32M |
2024 Q3
7 quarters
|
|
322
Cantor Equity Partners I
CEPO
$276M
| $1.41M | 0.02% |
159,598
-84,487
| -35% | -$891K |
2025 Q1
5 quarters
|
|
323
Future Money Acquisition Corp
FMAC
$160M
| $1.4M | 0.02% |
+140,850
| New | +$1.4M |
2026 Q2
0 quarters
|
|
324
New America Acquisition I Corp
NWAX
$500M
| $1.35M | 0.02% |
133,250
+1,158
| +0.9% | +$11.7K |
2026 Q1
1 quarter
|
|
325
Flag Ship Acquisition Corp
FSHP
$39.9M
| $1.34M | 0.02% |
120,931
+605
| +0.5% | +$6.66K |
2024 Q3
7 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.