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AA

AQR Arbitrage Portfolio holdings

AUM $7.02B
1-Year Est. Return 31.58%
This Fund
S&P 500
This Quarter Est. Return
+6.38%
1 Year Est. Return
+31.58%
3 Year Est. Return
+85.2%
5 Year Est. Return
+165.35%
10 Year Est. Return
+1,250.25%
AUM
$4.75B
AUM Growth
+$820M
Cap. Flow
-$43.7M
Cap. Flow %
-0.92%
Top 10 Hldgs %
20.65%
Holding
589
New
139
Increased
21
Reduced
114
Closed
92

Top Buys

Rank Stock Value
1
QRVO icon
Qorvo
QRVO
+$123M
2
TECK icon
Teck Resources
TECK
+$91.3M
3
CADE
Cadence Bank
CADE
+$86.3M
4
CMA
Comerica
CMA
+$81.2M
5
NGD
New Gold Inc
NGD
+$79.3M

Top Sells

Rank Stock Value
1
IPG
Interpublic Group of Companies
IPG
+$101M
2
ALE
Allete
ALE
+$91.1M
3
SAND
Sandstorm Gold
SAND
+$75.9M
4
K
Kellanova
K
+$72.1M
5
VRNA
Verona Pharma
VRNA
+$54.8M

Sector Composition

Rank Sector Weight
1 Financials 32.11%
2 Technology 9.31%
3 Industrials 8.74%
4 Materials 5.6%
5 Communication Services 5.56%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IPCX
101
DELISTED
Inflection Point Acquisition Corp III
IPCX
$10.7M 0.22%
1,052,225
– –
NTWO
102
Newbury Street II Acquisition Corp
NTWO
$271M
$10.6M 0.22%
1,017,744
– –
ADACU
103
American Drive Acquisition Co Units
ADACU
$10.6M 0.22%
+1,064,004
New +$10.6M
LPCVU
104
Launchpad Cadenza Acquisition Corp I Unit
LPCVU
$202M
$10.6M 0.22%
+1,064,004
New +$10.6M
MACI
105
Melar Acquisition Corp I
MACI
$10.6M 0.22%
997,179
– –
CRAQ
106
Cal Redwood Acquisition Corp
CRAQ
$325M
$10.6M 0.22%
1,040,125
– –
LOKV
107
DELISTED
Live Oak Acquisition Corp V
LOKV
$10.5M 0.22%
1,020,682
– –
AAM
108
DELISTED
AA Mission Acquisition Corp
AAM
$10.5M 0.22%
982,765
– –
ITHAU
109
ITHAX Acquisition Corp III Units
ITHAU
$10.4M 0.22%
+1,042,890
New +$10.4M
KFII
110
K&F Growth Acquisition Corp II
KFII
$417M
$10.3M 0.22%
994,915
– –
PLMK
111
Plum Acquisition Corp IV
PLMK
$115M
$10M 0.21%
960,428
– –
ATII
112
Archimedes Tech SPAC Partners II Co
ATII
$315M
$9.99M 0.21%
964,382
– –
PACH
113
Pioneer Acquisition I Corp
PACH
$293M
$9.91M 0.21%
984,608
– –
MRLN
114
Merlin Inc
MRLN
$336M
$9.87M 0.21%
920,621
-954,479
-51% -$10.4M
IRHOU
115
Iron Horse Acquisitions II Corp Units
IRHOU
$203M
$9.68M 0.2%
+973,608
New +$9.69M
FLR icon
116
Fluor
FLR
$6.96B
$9.66M 0.2%
+243,707
New +$10.8M
BCAR
117
D. Boral ARC Acquisition I Corp
BCAR
$236M
$9.52M 0.2%
948,694
-301,302
-24% -$3.02M
SVAC
118
DELISTED
Spring Valley Acquisition Corp III
SVAC
$9.48M 0.2%
+934,046
New +$9.64M
MKLY
119
McKinley Acquisition Corp
MKLY
$249M
$9.48M 0.2%
+950,571
New +$9.46M
PCAP
120
ProCap Acquisition Corp
PCAP
$329M
$9.42M 0.2%
929,604
– –
CHAC
121
DELISTED
Crane Harbor Acquisition Corp
CHAC
$9.34M 0.2%
867,540
-596,450
-41% -$6.65M
GSRF
122
GSR IV Acquisition Corp
GSRF
$301M
$9.33M 0.2%
+934,050
New +$9.36M
CTLP
123
DELISTED
Cantaloupe
CTLP
$9.25M 0.19%
870,900
– –
AXIN
124
Axiom Intelligence Acquisition Corp 1
AXIN
$281M
$9.2M 0.19%
913,726
– –
ENHA
125
Enhanced Group Inc
ENHA
$624M
$9.18M 0.19%
913,550
– –
3 4
5
6 7

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AQR Arbitrage's Q4 2025 Portfolio in Review

As of Q4 2025, AQR Arbitrage held 589 positions worth $4.75B, up 21% from $3.93B the previous quarter. Its ten largest holdings account for 21% of the portfolio.

AQR Arbitrage's Q4 2025 filing shows 139 new, 21 increased, 114 reduced and 92 closed positions. Its largest new stake was Qorvo: 1,398,701 shares worth $118M. The largest sale was Interpublic Group of Companies, an estimated $101M.

By sector, the portfolio is most concentrated in Financials at 32% of assets, up from 29% a quarter earlier, followed by Technology and Industrials.

  • AQR Arbitrage's largest Q4 2025 buy was Qorvo: 1,398,701 shares worth $118M.
  • AQR Arbitrage added most to Teck Resources in Q4 2025, an estimated $91.3M increase.
  • AQR Arbitrage's biggest Q4 2025 reduction was Boeing Co 6.00% Series A Preferred Stock, cutting an estimated $16.7M.
  • AQR Arbitrage fully exited Interpublic Group of Companies in Q4 2025, selling an estimated $101M.
  • AQR Arbitrage's ten largest holdings make up 21% of its $4.75B portfolio in Q4 2025.
  • AQR Arbitrage opened 139 new positions and closed 92 in Q4 2025.
  • AQR Arbitrage's portfolio value rose 21% quarter-over-quarter to $4.75B.

Based on AQR Arbitrage's 13F filing for Q4 2025, filed 17 Feb 2026.