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 | |
|---|---|---|---|---|---|---|---|
376
Graf Global Corp Warrants
TONT.WS
| $287K | ﹤0.01% |
755,836
+3,708
| +0.5% | +$834 |
2024 Q3
7 quarters
|
|
377
Centurion Acquisition Corp Warrant
ALFUW
$1.58M
| $279K | ﹤0.01% |
1,000,191
+4,028
| +0.4% | +$628 |
2024 Q3
7 quarters
|
|
378
Launch Two Acquisition Corp Warrant
LPBBW
$1.03M
| $272K | ﹤0.01% |
789,030
+35,419
| +5% | +$7.06K |
2024 Q4
6 quarters
|
|
379
NextEra Energy 7.299% Corporate Units
NEE.PRS
$2.1B
| $268K | ﹤0.01% |
+5,000
| New | +$276K |
2026 Q2
0 quarters
|
|
380
Velos Acquisition I Corp Warrant
VLOSW
$3.76M
| $262K | ﹤0.01% |
709,279
+8,413
| +1% | +$2.91K |
2024 Q4
6 quarters
|
|
381
Calisa Acquisition Corp Right
ALISR
| $261K | ﹤0.01% |
326,870
+4,710
| +1% | +$2.9K |
2026 Q1
1 quarter
|
|
382
Gores Holdings X Warrants
GTENW
| $259K | ﹤0.01% |
276,035
+800
| +0.3% | +$558 |
2025 Q3
3 quarters
|
|
383
Cal Redwood Acquisition Corp Right
CRAQR
| $259K | ﹤0.01% |
1,034,867
+8,817
| +0.9% | +$1.65K |
2025 Q3
3 quarters
|
|
384
Oaktree Acquisition Corp III Life Sciences Warrant
OACCW
| $251K | ﹤0.01% |
282,120
| – | – |
2024 Q4
6 quarters
|
|
385
Safeguard Acquisition Corp Warrants
SAC.WS
| $244K | ﹤0.01% |
414,151
+4,600
| +1% | +$2.27K |
2026 Q1
1 quarter
|
|
386
Hadron Energy Warrant
HDRNW
$1.4M
| $243K | ﹤0.01% |
1,597,445
-176,629
| -10% | -$65K |
2024 Q3
7 quarters
|
|
387
DELISTED
Aldel Financial II Inc Warrants
ALDFW
| $243K | ﹤0.01% |
810,039
+4,127
| +0.5% | +$1.28K |
2024 Q4
6 quarters
|
|
|
IPEXR
388
DELISTED
Inflection Point Acquisition Corp V Rights
IPEXR
| $240K | ﹤0.01% |
368,919
| – | – |
2025 Q1
5 quarters
|
|
389
Crane Harbor Acquisition Corp II Rights
CRANR
| $238K | ﹤0.01% |
1,135,329
+13,411
| +1% | +$2.8K |
2026 Q1
1 quarter
|
|
390
McKinley Acquisition Corp Rights
MKLYR
| $221K | ﹤0.01% |
961,435
+10,165
| +1% | +$1.65K |
2025 Q4
2 quarters
|
|
391
Kensington Capital Acquisition Corp VI Class 1 Warrants
KCAC.WS
| $220K | ﹤0.01% |
+191,541
| New | +$145K |
2026 Q2
0 quarters
|
|
392
Blue Water Acquisition Corp III Warrant
BLUWW
$1.12M
| $220K | ﹤0.01% |
579,332
+650
| +0.1% | +$272 |
2025 Q3
3 quarters
|
|
393
Highview Merger Corp Warrants
HVMCW
| $219K | ﹤0.01% |
634,724
+900
| +0.1% | +$275 |
2025 Q4
2 quarters
|
|
394
Plum Acquisition Corp IV Warrants
PLMKW
$2.59M
| $218K | ﹤0.01% |
484,003
+2,251
| +0.5% | +$1.25K |
2025 Q1
5 quarters
|
|
395
Sizzle Acquisition Corp II Right
SZZLR
| $213K | ﹤0.01% |
1,313,591
+7,337
| +0.6% | +$1.36K |
2025 Q2
4 quarters
|
|
396
Hewlett Packard Enterprise 7.625% Series C Preferred Stock
HPE.PRC
$3.7B
| $211K | ﹤0.01% |
+1,800
| New | +$170K |
2026 Q2
0 quarters
|
|
397
Digital Asset Acquisition Corp Warrant
DAAQW
$1.38M
| $209K | ﹤0.01% |
535,651
| – | – |
2025 Q2
4 quarters
|
|
398
M Evo Global Acquisition Corp II Warrants
MEVOW
$4.05M
| $209K | ﹤0.01% |
527,477
+10,805
| +2% | +$4.06K |
2026 Q1
1 quarter
|
|
399
Range Capital Acquisition Corp Rights
RANGR
| $208K | ﹤0.01% |
746,141
| – | – |
2025 Q1
5 quarters
|
|
400
SIM Acquisition Corp I Warrant
SIMAW
| $204K | ﹤0.01% |
814,850
| – | – |
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.