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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
+11.52%
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
$2.48B
AUM Growth
+$250M
Cap. Flow
-$715M
Cap. Flow %
-28.87%
Top 10 Hldgs %
15.92%
Holding
859
New
65
Increased
151
Reduced
87
Closed
168

Top Buys

Rank Stock Value
1
HES
Hess
HES
+$31.7M
2
PXD
Pioneer Natural Resource Co.
PXD
+$30.6M
3
X
US Steel
X
+$29.6M
4
KRTX
Karuna Therapeutics, Inc. Common Stock
KRTX
+$28.6M
5
IMGN
Immunogen Inc
IMGN
+$28.5M

Top Sells

Rank Stock Value
1
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$51.3M
2
SGEN
Seagen Inc. Common Stock
SGEN
+$36.5M
3
ATVI
Activision Blizzard
ATVI
+$36.3M
4
VMW
VMware, Inc
VMW
+$28.1M
5
DEN
Denbury Inc.
DEN
+$26.5M

Sector Composition

Rank Sector Weight
1 Financials 12.2%
2 Healthcare 8.06%
3 Consumer Discretionary 3.81%
4 Technology 3.5%
5 Consumer Staples 2.56%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SKGR
26
DELISTED
SK Growth Opportunities Corporation Class A Common Stock
SKGR
$13.2M 0.53%
1,221,552
+377,000
+45% +$4.07M
CLBR.U
27
DELISTED
Colombier Acquisition Corp. II Units, each consisting of one Class A ordinary share and one-third of one redeemable warrant
CLBR.U
$13M 0.52%
+1,287,000
New +$12.9M
GOOGL icon
28
Alphabet (Google) Class A
GOOGL
$3.91T
$12.9M 0.52%
+92,327
New +$12.4M
RPT
29
DELISTED
RPT Realty Common Shares of Beneficial Interest (MD)
RPT
$10.8M 0.44%
840,520
+174,135
+26% +$1.98M
NETD
30
DELISTED
Nabors Energy Transition Corp II
NETD
$10.4M 0.42%
+999,997
New +$10.3M
BSTZ icon
31
BlackRock Science and Technology Term Trust
BSTZ
$1.97B
$9.77M 0.39%
584,481
+332,579
+132% +$5.38M
NEA icon
32
Nuveen AMT-Free Quality Municipal Income Fund
NEA
$3.36B
$9.44M 0.38%
858,442
+6,753
+0.8% +$68.9K
EXG icon
33
Eaton Vance Tax-Managed Global Diversified Equity Income Fund
EXG
$2.91B
$9.3M 0.38%
1,204,395
+694,551
+136% +$5.16M
UAA icon
34
Under Armour
UAA
$3B
$9.07M 0.37%
+1,031,349
New +$7.93M
NAD icon
35
Nuveen Quality Municipal Income Fund
NAD
$2.71B
$8.85M 0.36%
773,201
+8,742
+1% +$92.3K
GDV icon
36
Gabelli Dividend & Income Trust
GDV
$2.6B
$8.53M 0.34%
394,023
+123,010
+45% +$2.44M
RYZB
37
DELISTED
RayzeBio, Inc. Common Stock
RYZB
$8.51M 0.34%
+136,895
New +$3.4M
RA
38
Brookfield Real Assets Income Fund
RA
$703M
$8.47M 0.34%
661,249
+317,638
+92% +$3.95M
NZF icon
39
Nuveen Municipal Credit Income Fund
NZF
$2.4B
$8.41M 0.34%
711,227
+28,962
+4% +$318K
SP
40
DELISTED
SP Plus Corporation
SP
$8.4M 0.34%
+163,962
New +$8.22M
HQH
41
abrdn Healthcare Investors
HQH
$1.23B
$8.29M 0.33%
500,418
+181,268
+57% +$2.79M
ESHA
42
DELISTED
ESH Acquisition Corp
ESHA
$8.18M 0.33%
800,000
+125,000
+19% +$1.27M
NWLI
43
DELISTED
National Western Life Group, Inc. Class A
NWLI
$8.12M 0.33%
+16,820
New +$8M
NVG icon
44
Nuveen AMT-Free Municipal Credit Income Fund
NVG
$2.65B
$7.97M 0.32%
674,687
+9,754
+1% +$106K
DISH
45
DELISTED
DISH Network Corp.
DISH
$7.9M 0.32%
1,368,293
+800,682
+141% +$3.59M
BDJ icon
46
BlackRock Enhanced Equity Dividend Trust
BDJ
$1.7B
$7.86M 0.32%
1,021,691
+553,405
+118% +$4.17M
IRBT
47
DELISTED
iRobot
IRBT
$7.77M 0.31%
200,802
-20,498
-9% -$729K
LBAI
48
DELISTED
Lakeland Bancorp Inc
LBAI
$7.53M 0.3%
509,266
– –
RVT icon
49
Royce Value Trust
RVT
$2.21B
$7.49M 0.3%
514,746
+117,634
+30% +$1.54M
NFJ
50
Virtus Dividend, Interest & Premium Strategy Fund
NFJ
$1.41B
$7.47M 0.3%
593,089
+211,686
+56% +$2.42M
1
2
3 4 5

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AQR Arbitrage's Q4 2023 Portfolio in Review

As of Q4 2023, AQR Arbitrage held 859 positions worth $2.48B, up 11% from $2.23B the previous quarter. Its ten largest holdings account for 16% of the portfolio.

AQR Arbitrage withdrew a net $715M in Q4 2023, closing 168 positions and reducing 87 holdings. Its most notable exit was Horizon Therapeutics Public Limited Company Ordinary Shares, an estimated $51.3M position sold in full.

By sector, the portfolio is most concentrated in Financials at 12% of assets, down from 17% a quarter earlier, followed by Healthcare and Consumer Discretionary.

Against the trend, AQR Arbitrage opened a new position in Hess worth $31.2M.

  • AQR Arbitrage's largest Q4 2023 buy was Hess: 216,329 shares worth $31.2M.
  • AQR Arbitrage added most to WestRock Company in Q4 2023, an estimated $11.8M increase.
  • AQR Arbitrage's biggest Q4 2023 reduction was Screaming Eagle Acquisition Corp. Class A Ordinary Shares, cutting an estimated $14.2M.
  • AQR Arbitrage fully exited Horizon Therapeutics Public Limited Company Ordinary Shares in Q4 2023, selling an estimated $51.3M.
  • AQR Arbitrage's ten largest holdings make up 16% of its $2.48B portfolio in Q4 2023.
  • AQR Arbitrage opened 65 new positions and closed 168 in Q4 2023.
  • AQR Arbitrage's portfolio value rose 11% quarter-over-quarter to $2.48B.

Based on AQR Arbitrage's 13F filing for Q4 2023, filed 14 Feb 2024.