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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
DAICW
326
CID HoldCo Inc Warrants
DAICW
$116K
$6.8K ﹤0.01%
+86,043
New +$10K
KVACW icon
327
Keen Vision Acquisition Corp Warrant
KVACW
$299K
$6.69K ﹤0.01%
123,850
– –
EMCGW
328
DELISTED
Embrace Change Acquisition Corp Warrants
EMCGW
$3.86K ﹤0.01%
193,214
– –
OAKUW
329
DELISTED
Oak Woods Acquisition Corp Warrant
OAKUW
$2.85K ﹤0.01%
95,000
– –
VSEEW
330
VSee Health Warrant
VSEEW
$248K
$2.69K ﹤0.01%
60,688
-7,551
-11% -$299
ABLVW icon
331
Able View Global Warrant
ABLVW
$2.58K ﹤0.01%
155,652
-6,562
-4% -$116
RAINW
332
Rain Enhancement Technologies Warrants
RAINW
$750K
$2.35K ﹤0.01%
22,919
-28,817
-56% -$4.16K
XAGEW
333
DELISTED
Longevity Health Holdings, Inc. Warrant
XAGEW
$1.06K ﹤0.01%
45,575
-15,558
-25% -$506
RMCOW icon
334
Royalty Management Holding Warrant
RMCOW
$1.49M
$883 ﹤0.01%
40,141
-956
-2% -$22
AFB
335
AllianceBernstein National Municipal Income Fund
AFB
$312M
– –
-10,270
Closed -$112K
AOD
336
abrdn Total Dynamic Dividend Fund
AOD
$1.1B
– –
-47,011
Closed -$394K
APO.PRA icon
337
Apollo Global Management Series A
APO.PRA
$1.79B
– –
-407,000
Closed -$29.9M
BCX icon
338
BlackRock Resources & Commodities Strategy Trust
BCX
$899M
– –
-31,188
Closed -$291K
BDJ icon
339
BlackRock Enhanced Equity Dividend Trust
BDJ
$1.7B
– –
-154,530
Closed -$1.33M
BGY icon
340
BlackRock Enhanced International Dividend Trust
BGY
$512M
– –
-193,099
Closed -$1.08M
BNY
341
DELISTED
BlackRock New York Municipal Income Trust
BNY
– –
-41,662
Closed -$424K
BSTZ icon
342
BlackRock Science and Technology Term Trust
BSTZ
$1.97B
– –
-96,237
Closed -$1.71M
BTT icon
343
BlackRock Municipal 2030 Target Term Trust
BTT
$1.43B
– –
-153,331
Closed -$3.25M
CDTTW
344
CDT Equity Inc Warrant
CDTTW
– –
-14,049
Closed -$129
CLBR
345
DELISTED
Colombier Acquisition Corp II
CLBR
– –
-173,357
Closed -$1.85M
CLSK icon
346
CleanSpark
CLSK
$3.73B
– –
-226,412
Closed -$1.52M
DESP
347
DELISTED
Despegar.com
DESP
– –
-1,726,121
Closed -$32.4M
DFS
348
DELISTED
Discover Financial Services
DFS
– –
-470,451
Closed -$78M
DLR icon
349
Digital Realty Trust
DLR
$73.7B
– –
-33,300
Closed -$4.65M
DMF
350
DELISTED
BNY Mellon Municipal Income
DMF
– –
-144,314
Closed -$1.04M
12 13
14
15 16

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GA
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CIS
Capital International Sarl Los Angeles, California $6.11B AUM 32.29% 1-Year Est. Return
EMPI
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HCM
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HPG
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DTC
Deep Track Capital Greenwich, Connecticut $6.12B AUM 144% 1-Year Est. Return
AWA
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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.