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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
+3.38%
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
$4.36B
AUM Growth
+$127M
Cap. Flow
-$883M
Cap. Flow %
-20.26%
Top 10 Hldgs %
23.47%
Holding
494
New
108
Increased
21
Reduced
89
Closed
104

Top Buys

Rank Stock Value
1
HES
Hess
HES
+$63M
2
SWTX
SpringWorks Therapeutics
SWTX
+$58.7M
3
TXNM
TXNM Energy Inc
TXNM
+$53.5M
4
AVDX
AvidXchange
AVDX
+$40.7M
5
SKX
Skechers
SKX
+$39.6M

Top Sells

Rank Stock Value
1
DFS
Discover Financial Services
DFS
+$78M
2
BERY
Berry Global Group, Inc.
BERY
+$54.3M
3
BECN
Beacon Roofing Supply, Inc.
BECN
+$37.2M
4
HEES
H&E Equipment Services
HEES
+$33.6M
5
ITCI
Intra-Cellular Therapies Inc.
ITCI
+$33.3M

Sector Composition

Rank Sector Weight
1 Financials 22.27%
2 Energy 6.34%
3 Technology 4.75%
4 Healthcare 4.23%
5 Utilities 3.51%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JENA.U
101
Jena Acquisition Corp II Units
JENA.U
$9.25M 0.21%
+900,000
New +$9.23M
TVAIU
102
Thayer Ventures Acquisition Corporation II Unit
TVAIU
$9.05M 0.21%
+890,200
New +$8.99M
CEPO
103
Cantor Equity Partners I
CEPO
$272M
$9M 0.21%
755,913
-444,087
-37% -$5.17M
JAZZ icon
104
Jazz Pharmaceuticals
JAZZ
$15.9B
$8.6M 0.2%
81,020
-9,118
-10% -$990K
COPL.U
105
Copley Acquisition Corp Units
COPL.U
$8.36M 0.19%
+830,000
New +$8.34M
PRA
106
DELISTED
ProAssurance
PRA
$8.27M 0.19%
362,255
+12,594
+4% +$291K
RFAI
107
RF Acquisition Corp II
RFAI
$92.4M
$8.22M 0.19%
775,982
-8,000
-1% -$83.7K
RANG
108
Range Capital Acquisition Corp
RANG
$7.87M 0.18%
765,683
– –
CCAQ
109
Collective Acquisition Corp
CCAQ
$212M
$7.84M 0.18%
+779,980
New +$7.83M
FGMC
110
DELISTED
FG Merger II Corp
FGMC
$7.79M 0.18%
789,000
-3,000
-0.4% -$29.1K
FARO
111
DELISTED
Faro Technologies
FARO
$7.79M 0.18%
+177,276
New +$6.49M
HYAC
112
DELISTED
Haymaker Acquisition Corp 4
HYAC
$7.64M 0.18%
688,006
-4,000
-0.6% -$44.2K
TAVI
113
Tavia Acquisition Corp
TAVI
$170M
$7.09M 0.16%
690,596
-10,000
-1% -$101K
STR
114
DELISTED
Sitio Royalties
STR
$7.06M 0.16%
+384,364
New +$6.9M
BACCU
115
Blue Acquisition Corp Unit
BACCU
$7.03M 0.16%
+700,000
New +$7.04M
SPKL
116
Spark I Acquisition Corp
SPKL
$103M
$6.91M 0.16%
633,999
– –
INFA
117
DELISTED
Informatica
INFA
$6.91M 0.16%
+283,588
New +$5.85M
AMRZ
118
Amrize Ltd
AMRZ
$27.3B
$6.59M 0.15%
+133,000
New +$6.71M
SPTN
119
DELISTED
SpartanNash
SPTN
$6.03M 0.14%
+227,659
New +$4.55M
NOEM
120
CO2 Energy Transition Corp
NOEM
$106M
$5.94M 0.14%
588,000
-2,000
-0.3% -$20K
PPBI
121
DELISTED
Pacific Premier Bancorp
PPBI
$5.85M 0.13%
+277,355
New +$5.77M
STEW
122
SRH Total Return Fund
STEW
$1.75B
$5.58M 0.13%
316,222
-128,526
-29% -$2.21M
CHAR
123
Charlton Aria Acquisition Corp
CHAR
$5.55M 0.13%
539,891
-812
-0.2% -$8.27K
PGAC
124
Pantages Capital Acquisition Corp
PGAC
$5.53M 0.13%
542,607
– –
CEPT
125
DELISTED
Cantor Equity Partners II
CEPT
$5.49M 0.13%
+498,000
New +$5.62M
3 4
5
6 7

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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
Deep Track Capital Greenwich, Connecticut $6.12B AUM 144% 1-Year Est. Return
AWA
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AQR Arbitrage's Q2 2025 Portfolio in Review

As of Q2 2025, AQR Arbitrage held 494 positions worth $4.36B, up 3% from $4.23B the previous quarter. Its ten largest holdings account for 23% of the portfolio.

AQR Arbitrage withdrew a net $883M in Q2 2025, closing 104 positions and reducing 89 holdings. Its most notable exit was Discover Financial Services, an estimated $78M position sold in full.

By sector, the portfolio is most concentrated in Financials at 22% of assets, up from 20% a quarter earlier, followed by Energy and Technology.

Against the trend, AQR Arbitrage opened a new position in SpringWorks Therapeutics worth $62M.

  • AQR Arbitrage's largest Q2 2025 buy was SpringWorks Therapeutics: 1,319,782 shares worth $62M.
  • AQR Arbitrage added most to Hess in Q2 2025, an estimated $63M increase.
  • AQR Arbitrage's biggest Q2 2025 reduction was GSR III Acquisition Corp, cutting an estimated $12.6M.
  • AQR Arbitrage fully exited Discover Financial Services in Q2 2025, selling an estimated $78M.
  • AQR Arbitrage's ten largest holdings make up 23% of its $4.36B portfolio in Q2 2025.
  • AQR Arbitrage opened 108 new positions and closed 104 in Q2 2025.
  • AQR Arbitrage's portfolio value rose 3% quarter-over-quarter to $4.36B.

Based on AQR Arbitrage's 13F filing for Q2 2025, filed 14 Aug 2025.