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 | |
|---|---|---|---|---|---|---|---|
476
Harvard Ave Acquisition Corp Rights
HAVAR
| $106K | ﹤0.01% |
659,419
+8,400
| +1% | +$1.12K |
2026 Q1
1 quarter
|
|
477
Gesher Acquisition Corp II Warrants
GSHRW
| $105K | ﹤0.01% |
375,741
+2,777
| +0.7% | +$664 |
2025 Q2
4 quarters
|
|
478
CO2 Energy Transition Corp Right
NOEMR
| $105K | ﹤0.01% |
582,200
+1,729
| +0.3% | +$280 |
2025 Q1
5 quarters
|
|
479
Twelve Seas Investment Co III Rights
TWLVR
| $104K | ﹤0.01% |
797,328
+9,008
| +1% | +$1.4K |
2026 Q1
1 quarter
|
|
480
Invest Green Acquisition Corp Rights
IGACR
| $103K | ﹤0.01% |
572,276
+11,936
| +2% | +$2.12K |
2026 Q1
1 quarter
|
|
481
Vine Hill Capital Investment Corp II Warrants
VHCPW
$2.3M
| $102K | ﹤0.01% |
226,025
+2,592
| +1% | +$1.02K |
2026 Q1
1 quarter
|
|
482
AI Infrastructure Acquisition Corp Rights
AIIA.RT
| $100K | ﹤0.01% |
478,148
+8,144
| +2% | +$1.78K |
2025 Q4
2 quarters
|
|
483
Hennessy Capital Investment Corp VIII Share Rights
HCICR
| $100K | ﹤0.01% |
+622,722
| New | +$102K |
2026 Q2
0 quarters
|
|
484
Pioneer Acquisition I Corp Warrants
PACHW
$1.26M
| $100K | ﹤0.01% |
495,429
+1,200
| +0.2% | +$259 |
2025 Q3
3 quarters
|
|
485
ProCap Acquisition Corp Warrant
PCAPW
$1.75M
| $99.2K | ﹤0.01% |
310,052
+4,071
| +1% | +$1.29K |
2025 Q3
3 quarters
|
|
486
Trailblazer Acquisition Corp Warrant
BLZRW
| $99.2K | ﹤0.01% |
247,994
+1,800
| +0.7% | +$747 |
2025 Q4
2 quarters
|
|
487
West Enclave Merger Corp Rights
WENC.RT
| $98.8K | ﹤0.01% |
+549,150
| New | +$90.3K |
2026 Q2
0 quarters
|
|
488
X3 Acquisition Corp Warrant
XCBEW
| $98.4K | ﹤0.01% |
363,947
+4,340
| +1% | +$1.12K |
2026 Q1
1 quarter
|
|
489
Averin Capital Acquisition Corp Warrants
ACAAW
$2M
| $98.1K | ﹤0.01% |
+150,964
| New | +$79.4K |
2026 Q2
0 quarters
|
|
490
Lafayette Digital Acquisition Corp I Warrant
ZKPW
| $97.1K | ﹤0.01% |
313,283
+1,792
| +0.6% | +$515 |
2026 Q1
1 quarter
|
|
491
Indigo Acquisition Corp Right
INACR
| $96.9K | ﹤0.01% |
692,891
+7,130
| +1% | +$997 |
2025 Q3
3 quarters
|
|
492
Art Technology Acquisition Corp Warrants
ARTCW
| $96.7K | ﹤0.01% |
261,402
| – | – |
2026 Q1
1 quarter
|
|
493
NMP Acquisition Corp Right
NMPAR
| $95.2K | ﹤0.01% |
634,107
+6,300
| +1% | +$1.26K |
2025 Q3
3 quarters
|
|
|
QLEP.WS
494
Quantum Leap Acquisition Corp Warrants
QLEP.WS
| $95.2K | ﹤0.01% |
+732,155
| New | +$89.5K |
2026 Q2
0 quarters
|
|
495
Leapfrog Acquisition Corp Warrants
LFACW
| $94.6K | ﹤0.01% |
262,889
+4,422
| +2% | +$1.23K |
2026 Q1
1 quarter
|
|
496
QDRO Acquisition Corp Warrant
QADRW
$2.2M
| $93.8K | ﹤0.01% |
+334,997
| New | +$88.2K |
2026 Q2
0 quarters
|
|
497
StablecoinX Inc Warrants
USDEW
$23.1M
| $93.1K | ﹤0.01% |
+227,093
| New | +$121K |
2026 Q2
0 quarters
|
|
|
ETSS.WS
498
Energy Transition Special Opportunities Warrants
ETSS.WS
| $92.1K | ﹤0.01% |
+340,932
| New | +$96K |
2026 Q2
0 quarters
|
|
499
Shreya Acquisition Group Rights
SAGU.RT
| $92K | ﹤0.01% |
+511,050
| New | +$101K |
2026 Q2
0 quarters
|
|
500
Oxley Bridge Acquisition Ltd Warrants
OBAWW
| $90.3K | ﹤0.01% |
423,361
+3,568
| +0.8% | +$766 |
2025 Q3
3 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.