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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
+1.48%
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
$7.28B
AUM Growth
-$1.39B
Cap. Flow
-$3.38B
Cap. Flow %
-46.38%
Top 10 Hldgs %
26.21%
Holding
659
New
169
Increased
113
Reduced
79
Closed
85

Top Buys

Rank Stock Value
1
LLL
L3 Technologies, Inc.
LLL
+$225M
2
ARRS
ARRIS International plc Ordinary Shares
ARRS
+$142M
3
ESL
Esterline Technologies
ESL
+$134M
4
RHT
Red Hat Inc
RHT
+$113M
5
NFX
Newfield Exploration
NFX
+$112M

Top Sells

Rank Stock Value
1
COL
Rockwell Collins
COL
+$211M
2
CA
CA, Inc.
CA
+$191M
3
ANDV
Andeavor
ANDV
+$188M
4
ESRX
Express Scripts Holding Company
ESRX
+$167M
5
AET
Aetna Inc
AET
+$144M

Sector Composition

Rank Sector Weight
1 Technology 15.58%
2 Financials 6.24%
3 Communication Services 6.06%
4 Utilities 5.29%
5 Healthcare 4.43%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BBN icon
476
BlackRock Taxable Municipal Bond Trust
BBN
$969M
– –
-12,223
Closed -$259K
BE icon
477
Bloom Energy
BE
$52.6B
– –
-10,000
Closed -$341K
DAVA icon
478
Endava
DAVA
$141M
– –
-15,000
Closed -$434K
GRFS
479
Grifois
GRFS
$5.16B
– –
-49,287
Closed -$1.05M
LW icon
480
Lamb Weston
LW
$6.82B
– –
-620,877
Closed -$41.4M
MVF
481
DELISTED
BlackRock MuniVest Fund
MVF
– –
-20,681
Closed -$181K
MYD
482
DELISTED
BlackRock MuniYield Fund
MYD
– –
-17,532
Closed -$230K
OPRA
483
Opera Ltd
OPRA
$1.65B
– –
-10,000
Closed -$90K
PHUN icon
484
Phunware
PHUN
$44M
– –
-3,974
Closed -$2.09M
QTWO icon
485
Q2 Holdings
QTWO
$3.42B
– –
-64,420
Closed -$3.9M
SIRI icon
486
SiriusXM
SIRI
$10B
– –
-31,890
Closed -$2.02M
VPV icon
487
Invesco Pennsylvania Value Municipal Income Trust
VPV
$194M
– –
-12,235
Closed -$145K
WDC icon
488
Western Digital
WDC
$179B
– –
-53,621
Closed -$2.37M
YUMC icon
489
Yum China
YUMC
$14.9B
– –
-403,131
Closed -$14.2M
ZEN
490
DELISTED
ZENDESK INC
ZEN
– –
-115,549
Closed -$8.2M
SRE.PRB
491
DELISTED
Sempra 6.75% Mandatory Convertible Preferred Stock, Series B
SRE.PRB
– –
-19,075
Closed -$1.94M
LOACU
492
DELISTED
Longevity Acquisition Corporation Units
LOACU
– –
-125,000
Closed -$1.28M
TZACU
493
DELISTED
Tenzing Acquisition Corp. Units
TZACU
– –
-250,000
Closed -$2.52M
SPAQ.U
494
DELISTED
Spartan Energy Acquisition Corp Units (each consisting of one Class A Common Stock and one-third of
SPAQ.U
– –
-1,450,000
Closed -$14.7M
FG.WS
495
DELISTED
FGL Holdings Warrants exercisable for one Ordinary Share at a price of $11.50 per share
FG.WS
– –
-300,000
Closed -$591K
GRSHU
496
DELISTED
Gores Holdings III, Inc. Units
GRSHU
– –
-1,000,000
Closed -$10.2M
STNL
497
DELISTED
Sentinel Energy Services Inc. Class A Common Stock
STNL
– –
-399,999
Closed -$3.93M
NRCG
498
DELISTED
NRC Group Holdings Corp.
NRCG
– –
-400,000
Closed -$4.08M
VSM
499
DELISTED
Versum Materials, Inc.
VSM
– –
-364,069
Closed -$13.1M
BCAC
500
DELISTED
Bison Capital Acquistion Corp Ordinary Shares
BCAC
– –
-150,000
Closed -$1.53M
18 19
20
21 22

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JWBC
John W. Bristol & Co New York $6.08B AUM 16.51% 1-Year Est. Return
GA
Greenhaven Associates Purchase, New York $6.07B AUM 11.2% 1-Year Est. Return
CIS
Capital International Sarl Los Angeles, California $6.11B AUM 32.29% 1-Year Est. Return
EMPI
Elo Mutual Pension Insurance Espoo, Finland $6.06B AUM 24.33% 1-Year Est. Return
HCM
Howard Capital Management Roswell, Georgia $6.11B AUM 33.56% 1-Year Est. Return
HPG
Harvest Portfolios Group Oakville, Ontario, Canada $6.06B AUM 16.63% 1-Year Est. Return
DTC
Deep Track Capital Greenwich, Connecticut $6.12B AUM 144% 1-Year Est. Return
AWA
Arkadios Wealth Advisors Atlanta, Georgia $6.13B AUM 23.41% 1-Year Est. Return

AQR Arbitrage's Q4 2018 Portfolio in Review

As of Q4 2018, AQR Arbitrage held 659 positions worth $7.28B, down 16% from $8.67B the previous quarter. Its ten largest holdings account for 26% of the portfolio.

AQR Arbitrage withdrew a net $3.38B in Q4 2018, closing 85 positions and reducing 79 holdings. Its most notable exit was Rockwell Collins, an estimated $211M position sold in full.

By sector, the portfolio is most concentrated in Technology at 16% of assets, up from 11% a quarter earlier, followed by Financials and Communication Services.

Against the trend, AQR Arbitrage opened a new position in L3 Technologies, Inc. worth $203M.

  • AQR Arbitrage's largest Q4 2018 buy was L3 Technologies, Inc.: 1,170,292 shares worth $203M.
  • AQR Arbitrage added most to Randgold Resources Ltd in Q4 2018, an estimated $101M increase.
  • AQR Arbitrage's biggest Q4 2018 reduction was Hilton Grand Vacations, cutting an estimated $17.9M.
  • AQR Arbitrage fully exited Rockwell Collins in Q4 2018, selling an estimated $211M.
  • AQR Arbitrage's ten largest holdings make up 26% of its $7.28B portfolio in Q4 2018.
  • AQR Arbitrage opened 169 new positions and closed 85 in Q4 2018.
  • AQR Arbitrage's portfolio value fell 16% quarter-over-quarter to $7.28B.

Based on AQR Arbitrage's 13F filing for Q4 2018, filed 14 Feb 2019.