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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
VMO icon
151
Invesco Municipal Opportunity Trust
VMO
$647M
$1.24M 0.02%
110,704
+76,633
+225% +$852K
WYNN icon
152
Wynn Resorts
WYNN
$10.1B
$1.23M 0.02%
+12,450
New +$1.34M
MYI icon
153
BlackRock MuniYield Quality Fund III
MYI
$709M
$1.21M 0.02%
100,475
+74,408
+285% +$876K
GWRE icon
154
Guidewire Software
GWRE
$11.5B
$1.21M 0.02%
15,046
-4,971
-25% -$433K
LHC.WS
155
DELISTED
Leo Holdings Corp. Warrants, each whole warrant exercisable for one Class A Ordinary Share at an exe
LHC.WS
$1.19M 0.02%
1,115,000
-125,000
-10% -$150K
IIM icon
156
Invesco Value Municipal Income Trust
IIM
$583M
$1.19M 0.02%
87,748
+65,957
+303% +$884K
NVG icon
157
Nuveen AMT-Free Municipal Credit Income Fund
NVG
$2.65B
$1.18M 0.02%
+84,668
New +$1.16M
MYN icon
158
BlackRock MuniYield New York Quality Fund
MYN
$374M
$1.18M 0.02%
102,289
+72,127
+239% +$818K
EIM
159
Eaton Vance Municipal Bond Fund
EIM
$492M
$1.18M 0.02%
104,185
+82,584
+382% +$918K
BFZ
160
DELISTED
BlackRock CA Municipal Income Trust
BFZ
$1.17M 0.02%
97,494
+66,509
+215% +$808K
NRK icon
161
Nuveen New York AMT-Free Quality Municipal Income Fund
NRK
$900M
$1.16M 0.02%
99,906
+72,877
+270% +$849K
MUI
162
DELISTED
BlackRock Municipal Income Fund, Inc.
MUI
$1.16M 0.02%
91,454
+62,074
+211% +$782K
NKX icon
163
Nuveen California AMT-Free Quality Municipal Income Fund
NKX
$651M
$1.15M 0.02%
90,630
+68,680
+313% +$868K
VGM icon
164
Invesco Trust Investment Grade Municipals
VGM
$549M
$1.12M 0.02%
97,325
+74,209
+321% +$848K
IQI icon
165
Invesco Quality Municipal Securities
IQI
$526M
$1.11M 0.02%
98,731
+73,843
+297% +$828K
MCA
166
DELISTED
BLACKROCK MUNIYIELD CALIFORNIA QUALITY FUND, INC
MCA
$1.09M 0.01%
86,094
+62,538
+265% +$787K
MUC icon
167
BlackRock MuniHoldings California Quality Fund
MUC
$1B
$1.08M 0.01%
87,754
+63,159
+257% +$783K
MFL
168
DELISTED
BLACKROCK MUNIHOLDINGS INVESTMENT QUALITY FUND
MFL
$1.07M 0.01%
83,928
+64,140
+324% +$782K
ENB icon
169
Enbridge
ENB
$124B
$1.06M 0.01%
+33,984
New +$1.09M
VKQ icon
170
Invesco Municipal Trust
VKQ
$536M
$1.05M 0.01%
93,910
+73,751
+366% +$819K
MUDSW
171
DELISTED
Mudrick Capital Acquisition Corporation Warrant
MUDSW
$1.01M 0.01%
2,250,000
-250,000
-10% -$143K
HUNT
172
DELISTED
Hunter Maritime Acquisition Corp. Common Stock
HUNT
$1M 0.01%
100,000
– –
NXJ
173
DELISTED
Nuveen New Jersey Quality Municipal Income Fund
NXJ
$998K 0.01%
78,343
+53,332
+213% +$675K
MHN
174
DELISTED
BlackRock MuniHoldings New Yrok Quality Fund
MHN
$987K 0.01%
82,388
+58,405
+244% +$692K
PACQW
175
DELISTED
Pure Acquisition Corp. Warrant
PACQW
$983K 0.01%
862,500
– –
5 6
7
8 9

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GA
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CIS
Capital International Sarl Los Angeles, California $6.11B AUM 32.29% 1-Year Est. Return
EMPI
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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.