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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
USAR
76
USA Rare Earth Inc
USAR
$3.46B
$5.16M 0.21%
499,998
– –
BOE icon
77
BlackRock Enhanced Global Dividend Trust
BOE
$662M
$5.1M 0.21%
514,377
+178,886
+53% +$1.72M
VMO icon
78
Invesco Municipal Opportunity Trust
VMO
$647M
$4.94M 0.2%
513,531
+59,554
+13% +$522K
FORL
79
DELISTED
Four Leaf Acquisition Corp
FORL
$4.89M 0.2%
464,956
– –
CETU
80
DELISTED
Cetus Capital Acquisition Corp. Class A Common Stock
CETU
$4.88M 0.2%
464,573
– –
MHD icon
81
BlackRock MuniHoldings Fund
MHD
$597M
$4.88M 0.2%
409,555
+24,498
+6% +$268K
BTT icon
82
BlackRock Municipal 2030 Target Term Trust
BTT
$1.43B
$4.85M 0.2%
233,029
+35,474
+18% +$713K
BVH
83
DELISTED
Bluegreen Vacations Holding Corporation
BVH
$4.84M 0.2%
+64,437
New +$3.75M
Z icon
84
Zillow
Z
$7.04B
$4.83M 0.19%
+83,407
New +$3.68M
MMU
85
Western Asset Managed Municipals Fund
MMU
$549M
$4.72M 0.19%
464,257
+137,117
+42% +$1.29M
MQY icon
86
BlackRock MuniYield Quality Fund
MQY
$807M
$4.67M 0.19%
382,837
-38,537
-9% -$423K
EIM
87
Eaton Vance Municipal Bond Fund
EIM
$492M
$4.63M 0.19%
457,323
+37,504
+9% +$352K
IROHU
88
DELISTED
Iron Horse Acquisitions Corp Unit
IROHU
$4.62M 0.19%
+460,000
New +$4.62M
MYI icon
89
BlackRock MuniYield Quality Fund III
MYI
$709M
$4.59M 0.19%
394,079
-50,751
-11% -$526K
NNAG
90
DELISTED
99 Acquisition Group Inc
NNAG
$4.59M 0.19%
+450,000
New +$4.57M
EAD
91
Allspring Income Opportunities Fund
EAD
$372M
$4.58M 0.18%
702,026
+223,415
+47% +$1.37M
FTII
92
DELISTED
FutureTech II Acquisition Corp. Class A Common Stock
FTII
$4.56M 0.18%
419,508
+209,000
+99% +$2.28M
NRK icon
93
Nuveen New York AMT-Free Quality Municipal Income Fund
NRK
$900M
$4.45M 0.18%
422,886
-14,779
-3% -$144K
VGM icon
94
Invesco Trust Investment Grade Municipals
VGM
$549M
$4.42M 0.18%
446,866
+47,572
+12% +$431K
DIAX
95
DELISTED
Nuveen Dow 30SM Dynamic Overwrite Fund
DIAX
$4.4M 0.18%
313,989
+93,400
+42% +$1.27M
CMCA
96
DELISTED
Capitalworks Emerging Markets Acquisition Corp Class A Ordinary Shares
CMCA
$4.38M 0.18%
400,000
– –
DUET
97
DELISTED
DUET Acquisition Corp. Class A Common Stock
DUET
$4.36M 0.18%
397,745
– –
MYD
98
DELISTED
BlackRock MuniYield Fund
MYD
$4.26M 0.17%
395,484
+55,040
+16% +$540K
ISRL
99
DELISTED
Israel Acquisitions Corp
ISRL
$4.25M 0.17%
397,864
– –
ALCY
100
DELISTED
Alchemy Investments Acquisition Corp 1
ALCY
$4.21M 0.17%
403,497
– –
2 3
4
5 6

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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
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DTC
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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.