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 | |
|---|---|---|---|---|---|---|---|
401
American Drive Acquisition Co Warrant
ADACW
| $204K | ﹤0.01% |
357,495
| – | – |
2026 Q1
1 quarter
|
|
402
Range Capital Acquisition Corp II Warrants
RNGTW
| $190K | ﹤0.01% |
557,839
+9,500
| +2% | +$3.21K |
2025 Q4
2 quarters
|
|
403
Stellar V Capital Corp Warrant
SVCCW
| $189K | ﹤0.01% |
548,975
| – | – |
2025 Q2
4 quarters
|
|
404
Mountain Lake Acquisition Corp II Warrants
MLAAW
| $188K | ﹤0.01% |
+724,541
| New | +$274K |
2026 Q2
0 quarters
|
|
405
Talon Capital Corp Warrants
TLNCW
| $182K | ﹤0.01% |
284,064
+100
| +0% | +$55 |
2025 Q4
2 quarters
|
|
406
Collective Acquisition Corp Warrants
CCAQW
| $181K | ﹤0.01% |
430,491
+6,550
| +2% | +$2.19K |
2025 Q2
4 quarters
|
|
407
TRG Latin America Acquisitions Corp Rights
TRGSR
| $178K | ﹤0.01% |
+1,010,025
| New | +$205K |
2026 Q2
0 quarters
|
|
408
QuasarEdge Acquisition Corp Rights
QRED.RT
| $178K | ﹤0.01% |
+710,278
| New | +$167K |
2026 Q2
0 quarters
|
|
409
Metals Acquisition Corp II Warrants
MTAL.WS
| $176K | ﹤0.01% |
+160,248
| New | +$146K |
2026 Q2
0 quarters
|
|
410
Bitcoin Infrastructure Acquisition Corp Warrant
BIXIW
$2.42M
| $172K | ﹤0.01% |
593,448
+8,814
| +2% | +$2.47K |
2025 Q4
2 quarters
|
|
411
ClearThink 1 Acquisition Corp Rights
CTAAR
| $171K | ﹤0.01% |
+776,743
| New | +$167K |
2026 Q2
0 quarters
|
|
412
Jackson Acquisition Co II Rights
JACS.RT
| $170K | ﹤0.01% |
1,209,632
+300
| +0% | +$45 |
2025 Q1
5 quarters
|
|
413
HCM IV Acquisition Corp Warrants
HACQW
$5.1M
| $169K | ﹤0.01% |
+325,528
| New | +$175K |
2026 Q2
0 quarters
|
|
414
Space Asset Acquisition Corp Warrants
SAAQW
$2.61M
| $166K | ﹤0.01% |
+207,387
| New | +$169K |
2026 Q2
0 quarters
|
|
415
Abony Acquisition Corp I Warrants
AACOW
$2.84M
| $166K | ﹤0.01% |
+345,126
| New | +$128K |
2026 Q2
0 quarters
|
|
416
Idea Acquisition Corp Warrants
IACOW
| $165K | ﹤0.01% |
+471,560
| New | +$165K |
2026 Q2
0 quarters
|
|
417
Hall Chadwick Acquisition Corp Rights
HCACR
| $164K | ﹤0.01% |
569,841
+7,680
| +1% | +$2.38K |
2026 Q1
1 quarter
|
|
418
Bain Capital GSS Investment Corp Warrants
BCSS.WS
| $164K | ﹤0.01% |
241,581
+2,935
| +1% | +$1.91K |
2025 Q4
2 quarters
|
|
419
Andretti Acquisition Corp II Warrant
POLEW
$1.62M
| $164K | ﹤0.01% |
781,329
+4,650
| +0.6% | +$878 |
2024 Q4
6 quarters
|
|
|
BREZR
420
Breeze Acquisition Corp II Right
BREZR
| $160K | ﹤0.01% |
+618,742
| New | +$157K |
2026 Q2
0 quarters
|
|
421
Iron Horse Acquisitions Corp II Rights
IRHOR
| $160K | ﹤0.01% |
992,610
+11,290
| +1% | +$1.92K |
2026 Q1
1 quarter
|
|
422
LightWave Acquisition Corp Warrants
LWACW
| $159K | ﹤0.01% |
538,861
+4,542
| +0.9% | +$1.1K |
2025 Q3
3 quarters
|
|
423
RRE Ventures Acquisition Corp Warrants
RREVW
$1.83M
| $158K | ﹤0.01% |
+293,284
| New | +$134K |
2026 Q2
0 quarters
|
|
424
TGE Value Creative Solutions Corp Warrants
BEBE.WS
| $158K | ﹤0.01% |
405,893
| – | – |
2026 Q1
1 quarter
|
|
425
Xsolla SPAC 1 Warrants
XSLLW
$1.63M
| $157K | ﹤0.01% |
+655,978
| New | +$153K |
2026 Q2
0 quarters
|
|
Similar funds
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.