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 | |
|---|---|---|---|---|---|---|---|
326
UY Scuti Acquisition Corp
UYSC
$57.6M
| $1.33M | 0.02% |
124,747
| – | – |
2025 Q2
4 quarters
|
|
327
Cantor Equity Partners VI
CEPS
$150M
| $1.12M | 0.02% |
108,471
+1,292
| +1% | +$13.2K |
2026 Q1
1 quarter
|
|
328
Kyivstar Group Warrant
KYIVW
$36.3M
| $1.12M | 0.02% |
181,159
-27,360
| -13% | -$138K |
2025 Q3
3 quarters
|
|
329
Greif
GEF
$4.12B
| $1.1M | 0.02% |
14,778
| – | – |
2026 Q1
1 quarter
|
|
|
NHICW
330
DELISTED
NewHold Investment Corp III Warrants
NHICW
| $1.08M | 0.02% |
518,200
| – | – |
2025 Q2
4 quarters
|
|
331
DELISTED
Keen Vision Acquisition Corp
KVAC
| $1.08M | 0.02% |
87,085
| – | – |
2023 Q4
10 quarters
|
|
332
DELISTED
Archimedes Tech SPAC Partners II Co Warrant
ATIIW
| $1.05M | 0.01% |
481,366
+2,158
| +0.5% | +$3.83K |
2025 Q2
4 quarters
|
|
|
BBCQW
333
DELISTED
Bleichroeder Acquisition Corp II Warrants
BBCQW
| $986K | 0.01% |
452,327
| – | – |
2026 Q1
1 quarter
|
|
334
Terra Innovatum Global N.V.
NKLR
$269M
| $915K | 0.01% |
185,903
| – | – |
2025 Q4
2 quarters
|
|
335
Globa Terra Acquisition Corp
GTERA
$249M
| $905K | 0.01% |
87,756
+300
| +0.3% | +$3.08K |
2025 Q3
3 quarters
|
|
|
336
Kyivstar Group
KYIV
$3.02B
| $881K | 0.01% |
54,484
| – | – |
2026 Q1
1 quarter
|
|
337
Wintergreen Acquisition Corp
WTG
$79.5M
| $831K | 0.01% |
79,965
| – | – |
2025 Q3
3 quarters
|
|
|
BCARW
338
DELISTED
D. Boral ARC Acquisition I Corp Warrant
BCARW
| $815K | 0.01% |
479,120
+2,836
| +0.6% | +$4.15K |
2025 Q3
3 quarters
|
|
339
1RT Acquisition Corp
ONCH
$224M
| $753K | 0.01% |
73,535
+400
| +0.5% | +$4.08K |
2025 Q3
3 quarters
|
|
340
Translational Development Acquisition Corp Warrants
TDACW
$8.97M
| $728K | 0.01% |
551,505
+3,988
| +0.7% | +$4K |
2025 Q1
5 quarters
|
|
341
Teamshares Inc Warrants
TMSWW
| $722K | 0.01% |
+498,115
| New | +$828K |
2026 Q2
0 quarters
|
|
|
SPKLW
342
DELISTED
Spark I Acquisition Corp Warrant
SPKLW
| $702K | 0.01% |
292,331
| – | – |
2023 Q4
10 quarters
|
|
|
FGMCR
343
DELISTED
FG Merger II Corp Rights
FGMCR
| $681K | 0.01% |
782,445
+4,183
| +0.5% | +$2.98K |
2025 Q1
5 quarters
|
|
344
Titan Acquisition Corp Warrants
TACHW
$5.5M
| $620K | 0.01% |
837,280
+5,210
| +0.6% | +$2.49K |
2025 Q2
4 quarters
|
|
345
Presidio Production Co Warrants
FTW.WS
| $601K | 0.01% |
435,725
-317,990
| -42% | -$371K |
2024 Q4
6 quarters
|
|
346
Bold Eagle Acquisition Corp Right
BEAGR
| $585K | 0.01% |
2,018,903
+3,900
| +0.2% | +$1.04K |
2024 Q4
6 quarters
|
|
|
SVACW
347
DELISTED
Spring Valley Acquisition Corp III Warrant
SVACW
| $556K | 0.01% |
317,627
+6,278
| +2% | +$10.3K |
2025 Q4
2 quarters
|
|
348
CoinShares PLC Warrants
CSHRW
$7.15M
| $521K | 0.01% |
+651,786
| New | +$758K |
2026 Q2
0 quarters
|
|
|
UCFI
349
CN Healthy Food Tech Group
UCFI
| $502K | 0.01% |
91,050
| – | – |
2025 Q4
2 quarters
|
|
|
IPCXR
350
DELISTED
Inflection Point Acquisition Corp III Rights
IPCXR
| $473K | 0.01% |
1,052,088
+9,292
| +0.9% | +$3.62K |
2025 Q3
3 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.