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 | |
|---|---|---|---|---|---|---|---|
451
Spartacus Acquisition Corp II Warrants
TMTSW
| $128K | ﹤0.01% |
+236,261
| New | +$115K |
2026 Q2
0 quarters
|
|
452
Thayer Ventures Acquisition Corporation II Rights
TVAIR
| $127K | ﹤0.01% |
666,653
+3,950
| +0.6% | +$700 |
2025 Q3
3 quarters
|
|
453
Oceanhawk Acquisition Corp Rights
OHACR
| $125K | ﹤0.01% |
+482,580
| New | +$129K |
2026 Q2
0 quarters
|
|
454
SilverBox Corp V Warrants
SBXE.WS
| $125K | ﹤0.01% |
+260,569
| New | +$100K |
2026 Q2
0 quarters
|
|
455
Launch One Acquisition Corp Warrant
LPAAW
$408K
| $125K | ﹤0.01% |
804,557
+5,210
| +0.7% | +$695 |
2024 Q3
7 quarters
|
|
456
Muzero Acquisition Corp Warrant
MUZEW
| $123K | ﹤0.01% |
+402,008
| New | +$112K |
2026 Q2
0 quarters
|
|
|
COLAR
457
DELISTED
Columbus Acquisition Corp Rights
COLAR
| $123K | ﹤0.01% |
223,697
+875
| +0.4% | +$408 |
2025 Q2
4 quarters
|
|
458
Praetorian Acquisition Corp Warrant
PTORW
| $122K | ﹤0.01% |
+322,003
| New | +$102K |
2026 Q2
0 quarters
|
|
459
Perimeter Acquisition Corp I Warrant
PMTRW
| $121K | ﹤0.01% |
148,557
+1,338
| +0.9% | +$970 |
2025 Q3
3 quarters
|
|
460
OTG Acquisition Corp I Warrants
OTGAW
| $121K | ﹤0.01% |
302,293
+2,975
| +1% | +$1K |
2025 Q4
2 quarters
|
|
461
General Purpose Acquisition Corp Warrant
GPACW
$2.19M
| $119K | ﹤0.01% |
456,007
| – | – |
2026 Q1
1 quarter
|
|
462
Wen Acquisition Corp Warrant
WENNW
| $118K | ﹤0.01% |
333,931
+2,659
| +0.8% | +$980 |
2025 Q3
3 quarters
|
|
463
Bluerock Acquisition Corp Warrants
BLRKW
| $117K | ﹤0.01% |
260,577
| – | – |
2026 Q1
1 quarter
|
|
464
D. Boral Acquisition I Corp Warrants
DBCAW
$2.87M
| $117K | ﹤0.01% |
334,276
+16
| +0% | +$6 |
2026 Q1
1 quarter
|
|
465
Vendome Acquisition Corp I Warrant
VNMEW
| $116K | ﹤0.01% |
388,112
+5,670
| +1% | +$1.43K |
2025 Q3
3 quarters
|
|
|
VACI.WS
466
DELISTED
Viking Acquisition Corp I Warrants
VACI.WS
| $116K | ﹤0.01% |
150,035
| – | – |
2026 Q1
1 quarter
|
|
467
Jena Acquisition Corp II Rights
JENA.RT
| $116K | ﹤0.01% |
682,598
+6,475
| +1% | +$1.1K |
2025 Q3
3 quarters
|
|
468
Meshflow Acquisition Corp Warrants
MESHW
| $115K | ﹤0.01% |
407,530
+7,159
| +2% | +$2.07K |
2026 Q1
1 quarter
|
|
469
Legato Merger Corp IV Warrants
LEGO.WS
| $114K | ﹤0.01% |
+273,765
| New | +$101K |
2026 Q2
0 quarters
|
|
470
Roman DBDR Acquisition Corp II Warrants
DRDBW
| $113K | ﹤0.01% |
567,396
+1,319
| +0.2% | +$293 |
2025 Q1
5 quarters
|
|
471
Evolution Global Acquisition Corp Warrants
EVOXW
$2.87M
| $113K | ﹤0.01% |
285,455
+1,980
| +0.7% | +$738 |
2025 Q4
2 quarters
|
|
472
Armada Acquisition Corp III Warrant
AACIW
$1.88M
| $109K | ﹤0.01% |
+389,627
| New | +$103K |
2026 Q2
0 quarters
|
|
473
MOZAYYX Acquisition Corp Warrants
MZYX.WS
| $109K | ﹤0.01% |
+197,298
| New | +$90.8K |
2026 Q2
0 quarters
|
|
474
Pantages Capital Acquisition Corp Right
PGACR
| $106K | ﹤0.01% |
529,317
+100
| +0% | +$20 |
2025 Q1
5 quarters
|
|
475
Black Spade Acquisition III Co Warrants
BIII.WS
| $106K | ﹤0.01% |
263,957
| – | – |
2026 Q1
1 quarter
|
|
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.