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 | |
|---|---|---|---|---|---|---|---|
176
SilverBox Corp V
SBXE
$351M
| $7.49M | 0.11% |
744,396
| – | – |
2026 Q1
1 quarter
|
|
177
Bluerock Acquisition Corp
BLRK
$233M
| $7.49M | 0.11% |
750,338
+10,103
| +1% | +$100K |
2026 Q1
1 quarter
|
|
|
ISNRU
178
Snow Rothschild Acquisition Corp Units
ISNRU
| $7.4M | 0.11% |
+739,760
| New | +$7.4M |
2026 Q2
0 quarters
|
|
179
Armada Acquisition Corp III
AACI
$344M
| $7.36M | 0.1% |
+739,995
| New | +$7.34M |
2026 Q2
0 quarters
|
|
180
Inflection Point Acquisition Corp. VII Class A Ordinary Shares
IPXG
$321M
| $7.35M | 0.1% |
725,510
+16,718
| +2% | +$166K |
2026 Q1
1 quarter
|
|
181
Cambridge Acquisition Corp
CAQ
$313M
| $7.34M | 0.1% |
+739,805
| New | +$7.31M |
2026 Q2
0 quarters
|
|
182
X3 Acquisition Corp
XCBE
$282M
| $7.31M | 0.1% |
731,634
+12,420
| +2% | +$123K |
2026 Q1
1 quarter
|
|
183
Trailblazer Acquisition Corp
BLZR
$353M
| $7.28M | 0.1% |
719,752
+13,467
| +2% | +$136K |
2025 Q4
2 quarters
|
|
|
QLEP
184
Quantum Leap Acquisition Corp
QLEP
$301M
| $7.27M | 0.1% |
+732,155
| New | +$7.28M |
2026 Q2
0 quarters
|
|
185
Iridium Communications
IRDM
$4.89B
| $7.25M | 0.1% |
+132,611
| New | +$5.67M |
2026 Q2
0 quarters
|
|
186
D. Boral Acquisition I Corp
DBCA
$436M
| $7.23M | 0.1% |
725,014
+41,593
| +6% | +$413K |
2026 Q1
1 quarter
|
|
|
WSR
187
DELISTED
Whitestone REIT
WSR
| $7.21M | 0.1% |
+380,455
| New | +$7.15M |
2026 Q2
0 quarters
|
|
188
Republic Digital Acquisition Co
RDAG
$393M
| $7.21M | 0.1% |
698,855
+5,993
| +0.9% | +$61.6K |
2025 Q3
3 quarters
|
|
189
Vernal Capital Acquisition Corp
VECA
$130M
| $7.15M | 0.1% |
+719,650
| New | +$7.16M |
2026 Q2
0 quarters
|
|
190
Spartacus Acquisition Corp II
TMTS
| $7.09M | 0.1% |
+708,792
| New | +$7.08M |
2026 Q2
0 quarters
|
|
191
Jena Acquisition Corp II
JENA
$303M
| $7.07M | 0.1% |
682,598
+3,847
| +0.6% | +$39.6K |
2025 Q3
3 quarters
|
|
192
QuasarEdge Acquisition Corp
QRED
$162M
| $7.05M | 0.1% |
+710,278
| New | +$7.06M |
2026 Q2
0 quarters
|
|
|
BIDWU
193
Tribeca Strategic Acquisition Corp Unit
BIDWU
| $7.02M | 0.1% |
+705,600
| New | +$7.04M |
2026 Q2
0 quarters
|
|
194
K2 Capital Acquisition Corp
KTWO
$203M
| $6.87M | 0.1% |
690,447
+17,657
| +3% | +$176K |
2026 Q1
1 quarter
|
|
195
KRAKacquisition Corp
KRAQ
$432M
| $6.84M | 0.1% |
+683,522
| New | +$6.79M |
2026 Q2
0 quarters
|
|
196
Vine Hill Capital Investment Corp II
VHCP
$309M
| $6.77M | 0.1% |
678,084
+7,776
| +1% | +$77.5K |
2026 Q1
1 quarter
|
|
197
Indigo Acquisition Corp
INAC
$154M
| $6.75M | 0.1% |
658,718
| – | – |
2025 Q3
3 quarters
|
|
|
ETSS
198
Energy Transition Special Opportunities
ETSS
$199M
| $6.73M | 0.1% |
+681,864
| New | +$6.73M |
2026 Q2
0 quarters
|
|
199
Social Commerce Partners
SCPQ
| $6.73M | 0.1% |
673,644
| – | – |
2026 Q1
1 quarter
|
|
200
Galata Acquisition Corp II
LATA
$235M
| $6.67M | 0.1% |
660,783
+5,700
| +0.9% | +$57.4K |
2025 Q4
2 quarters
|
|
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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.