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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
+8.08%
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
$3.93B
AUM Growth
-$427M
Cap. Flow
-$797M
Cap. Flow %
-20.28%
Top 10 Hldgs %
18.52%
Holding
542
New
152
Increased
15
Reduced
139
Closed
94

Top Buys

Rank Stock Value
1
SAND
Sandstorm Gold
SAND
+$64.4M
2
AL
Air Lease Corp
AL
+$60.3M
3
GTLS
Chart Industries
GTLS
+$56.6M
4
NSC icon
Norfolk Southern
NSC
+$54.5M
5
VRNA
Verona Pharma
VRNA
+$53.6M

Top Sells

Rank Stock Value
1
HES
Hess
HES
+$151M
2
CHX
ChampionX
CHX
+$89.7M
3
AMED
Amedisys
AMED
+$67.8M
4
SWTX
SpringWorks Therapeutics
SWTX
+$62M
5
ESGR
Enstar Group
ESGR
+$59.1M

Sector Composition

Rank Sector Weight
1 Financials 29.05%
2 Technology 7.67%
3 Industrials 7.22%
4 Communication Services 6.53%
5 Utilities 3.86%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CYCUW
451
Cycurion Inc Warrant
CYCUW
$198K
– –
-314,189
Closed -$18.9K
XAGEW
452
DELISTED
Longevity Health Holdings, Inc. Warrant
XAGEW
– –
-45,575
Closed -$1.06K
GENVR
453
Gen Digital Inc Contingent Value Rights
GENVR
– –
-67,329
Closed -$549K
TVACU
454
Texas Ventures Acquisition III Corp Unit
TVACU
– –
-1,750,000
Closed -$18M
NPACU
455
New Providence Acquisition Corp III Units
NPACU
$282M
– –
-2,200,000
Closed -$23M
IPCXU
456
Inflection Point Acquisition Corp III Units
IPCXU
$239M
– –
-1,400,000
Closed -$14.7M
COPL.U
457
Copley Acquisition Corp Units
COPL.U
– –
-830,000
Closed -$8.36M
LCCCU
458
Lakeshore Acquisition III Corp Unit
LCCCU
– –
-300,000
Closed -$3.05M
RDAGU
459
Republic Digital Acquisition Co Unit
RDAGU
– –
-1,000,000
Closed -$10.6M
CGCTU
460
DELISTED
Cartesian Growth Corp III Unit
CGCTU
– –
-1,460,000
Closed -$14.8M
GTENU
461
Gores Holdings X Units
GTENU
– –
-1,500,000
Closed -$15.6M
EGHAU
462
EGH Acquisition Corp Unit
EGHAU
– –
-1,217,000
Closed -$12.4M
PMTRU
463
Perimeter Acquisition Corp I Unit
PMTRU
$196M
– –
-400,000
Closed -$4.19M
CCCXU
464
DELISTED
Churchill Capital Corp X Unit
CCCXU
– –
-500,000
Closed -$5.15M
TVAIU
465
Thayer Ventures Acquisition Corporation II Unit
TVAIU
– –
-890,200
Closed -$9.05M
WENNU
466
Wen Acquisition Corp Unit
WENNU
– –
-897,500
Closed -$9.51M
XRPNU
467
Armada Acquisition Corp II Units
XRPNU
– –
-1,499,633
Closed -$15.3M
PCAPU
468
ProCap Acquisition Corp Unit
PCAPU
$213M
– –
-1,246,808
Closed -$13.4M
OYSEU
469
Oyster Enterprises II Acquisition Corp Units
OYSEU
– –
-1,495,000
Closed -$15.1M
CRAQU
470
Cal Redwood Acquisition Corp Units
CRAQU
– –
-1,368,923
Closed -$14M
CHPGU
471
ChampionsGate Acquisition Corp Unit
CHPGU
– –
-485,000
Closed -$4.93M
JENA.U
472
Jena Acquisition Corp II Units
JENA.U
– –
-900,000
Closed -$9.25M
KCHVU
473
Kochav Defense Acquisition Corp Units
KCHVU
– –
-1,875,000
Closed -$19.1M
WTGUU
474
Wintergreen Acquisition Corp Unit
WTGUU
– –
-113,381
Closed -$1.14M
BLUWU
475
Blue Water Acquisition Corp III Unit
BLUWU
– –
-1,500,000
Closed -$15M
16 17 18
19
20

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GA
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CIS
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EMPI
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HCM
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HPG
Harvest Portfolios Group Oakville, Ontario, Canada $6.06B AUM 16.63% 1-Year Est. Return
DTC
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AWA
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AQR Arbitrage's Q3 2025 Portfolio in Review

As of Q3 2025, AQR Arbitrage held 542 positions worth $3.93B, down 9.8% from $4.36B the previous quarter. Its ten largest holdings account for 19% of the portfolio.

AQR Arbitrage withdrew a net $797M in Q3 2025, closing 94 positions and reducing 139 holdings. Its most notable exit was Hess, an estimated $151M position sold in full.

By sector, the portfolio is most concentrated in Financials at 29% of assets, up from 22% a quarter earlier, followed by Technology and Industrials.

Against the trend, AQR Arbitrage opened a new position in Sandstorm Gold worth $75.9M.

  • AQR Arbitrage's largest Q3 2025 buy was Sandstorm Gold: 6,061,783 shares worth $75.9M.
  • AQR Arbitrage added most to Chart Industries in Q3 2025, an estimated $56.6M increase.
  • AQR Arbitrage's biggest Q3 2025 reduction was Kodiak AI, cutting an estimated $13M.
  • AQR Arbitrage fully exited Hess in Q3 2025, selling an estimated $151M.
  • AQR Arbitrage's ten largest holdings make up 19% of its $3.93B portfolio in Q3 2025.
  • AQR Arbitrage opened 152 new positions and closed 94 in Q3 2025.
  • AQR Arbitrage's portfolio value fell 9.8% quarter-over-quarter to $3.93B.

Based on AQR Arbitrage's 13F filing for Q3 2025, filed 14 Nov 2025.