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 | |
|---|---|---|---|---|---|---|---|
576
SPACSphere Acquisition Corp Rights
SSACR
| $26.1K | ﹤0.01% |
174,070
+3,430
| +2% | +$582 |
2026 Q1
1 quarter
|
|
577
Copley Acquisition Corp Warrants
COPL.WS
| $25.9K | ﹤0.01% |
302,033
| – | – |
2025 Q3
3 quarters
|
|
578
XFLH Capital Corp Rights
XFLH.RT
| $25.5K | ﹤0.01% |
285,222
+6,342
| +2% | +$698 |
2026 Q1
1 quarter
|
|
579
Origin Investment Corp I Warrant
ORIQW
$24.2K
| $24.5K | ﹤0.01% |
220,826
+1,608
| +0.7% | +$232 |
2025 Q3
3 quarters
|
|
580
Future Money Acquisition Corp Rights
FMACR
| $24.1K | ﹤0.01% |
+140,850
| New | +$25.8K |
2026 Q2
0 quarters
|
|
581
Rising Dragon Acquisition Corp Rights
RDACR
| $23.8K | ﹤0.01% |
340,678
| – | – |
2024 Q4
6 quarters
|
|
582
UY Scuti Acquisition Corp Rights
UYSCR
| $22.1K | ﹤0.01% |
130,013
+100
| +0.1% | +$14 |
2025 Q2
4 quarters
|
|
583
BEST SPAC I Acquisition Corp Rights
BSAAR
| $19.1K | ﹤0.01% |
115,132
+1,098
| +1% | +$173 |
2025 Q3
3 quarters
|
|
584
A SPAC III Acquisition Corp Right
ASPCR
| $15.9K | ﹤0.01% |
179,073
| – | – |
2025 Q1
5 quarters
|
|
585
United Acquisition Corp I Warrants
UAC.WS
| $14.4K | ﹤0.01% |
+11,624
| New | +$8.15K |
2026 Q2
0 quarters
|
|
586
Wintergreen Acquisition Corp Rights
WTGUR
| $12.6K | ﹤0.01% |
83,040
| – | – |
2025 Q3
3 quarters
|
|
587
Peace Acquisition Corp Warrant
PECEW
| $11.9K | ﹤0.01% |
+158,640
| New | +$15K |
2026 Q2
0 quarters
|
|
588
Globa Terra Acquisition Corp Rights
GTERR
| $10.1K | ﹤0.01% |
91,996
+816
| +0.9% | +$89 |
2025 Q3
3 quarters
|
|
589
1RT Acquisition Corp Warrant
ONCHW
$1.29M
| $9.8K | ﹤0.01% |
19,232
+171
| +0.9% | +$81 |
2025 Q3
3 quarters
|
|
|
590
SPACSphere Acquisition Corp Warrant
SSACW
$367K
| $8.27K | ﹤0.01% |
87,035
+1,715
| +2% | +$164 |
2026 Q1
1 quarter
|
|
591
Crown Reserve Acquisition Corp I Warrant
CRACW
$132K
| $6.43K | ﹤0.01% |
159,860
| – | – |
2026 Q1
1 quarter
|
|
|
592
Globa Terra Acquisition Corp Warrants
GTERW
$394K
| $6.21K | ﹤0.01% |
68,997
+613
| +0.9% | +$59 |
2025 Q3
3 quarters
|
|
593
DELISTED
Keen Vision Acquisition Corp Warrant
KVACW
| $3.66K | ﹤0.01% |
122,090
+453
| +0.4% | +$8 |
2023 Q4
10 quarters
|
|
594
Fusemachines Inc Warrants
FUSEW
$166K
| $2.42K | ﹤0.01% |
44,843
-51,487
| -53% | -$4.75K |
2025 Q4
2 quarters
|
|
595
Scage Future Warrants
SCAGW
$133K
| $1.34K | ﹤0.01% |
32,814
-6,196
| -16% | -$303 |
2025 Q3
3 quarters
|
|
|
UCFIW
596
CN Healthy Food Tech Group Warrant
UCFIW
| $4 | ﹤0.01% |
396,260
| – | – |
2024 Q1
9 quarters
|
|
597
DELISTED
Arcellx
ACLX
| – | – |
-231,730
| Closed | -$26.6M | – |
|
|
598
DELISTED
Air Lease Corp
AL
| – | – |
-1,675,636
| Closed | -$109M | – |
|
599
DELISTED
Alchemy Investments Acquisition Corp 1
ALCY
| – | – |
-84,837
| Closed | -$1M | – |
|
|
600
DELISTED
Alchemy Investments Acquisition Corp 1 Warrants
ALCYW
| – | – |
-201,748
| Closed | -$32.3K | – |
|
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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.