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 | |
|---|---|---|---|---|---|---|---|
|
YICCU
201
Yorkville International Capital Corp Units
YICCU
$200M
| $6.64M | 0.09% |
+660,960
| New | +$6.64M |
2026 Q2
0 quarters
|
|
202
QDRO Acquisition Corp
QADR
$250M
| $6.64M | 0.09% |
+669,994
| New | +$6.64M |
2026 Q2
0 quarters
|
|
203
Thayer Ventures Acquisition Corporation II
TVAI
$285M
| $6.63M | 0.09% |
640,768
+3,258
| +0.5% | +$33.5K |
2025 Q3
3 quarters
|
|
204
Forefront Tech Holdings Acquisition Corp Unit
FTHAU
| $6.62M | 0.09% |
+658,980
| New | +$6.59M |
2026 Q2
0 quarters
|
|
205
Wen Acquisition Corp
WENN
$393M
| $6.62M | 0.09% |
643,224
+5,954
| +0.9% | +$61K |
2025 Q3
3 quarters
|
|
206
LaFayette Acquisition Corp
LAFA
$161M
| $6.6M | 0.09% |
652,459
+9,207
| +1% | +$92.3K |
2025 Q4
2 quarters
|
|
207
Harvard Ave Acquisition Corp
HAVA
$213M
| $6.54M | 0.09% |
645,620
+9,750
| +2% | +$98.2K |
2026 Q1
1 quarter
|
|
208
AmperCap Acquisition Co Unit
APMCU
$130M
| $6.53M | 0.09% |
+651,015
| New | +$6.51M |
2026 Q2
0 quarters
|
|
209
Space Asset Acquisition Corp
SAAQ
$315M
| $6.5M | 0.09% |
+639,670
| New | +$6.57M |
2026 Q2
0 quarters
|
|
210
Illumination Acquisition Corp I Units
ILLUU
| $6.39M | 0.09% |
636,284
+10,325
| +2% | +$103K |
2026 Q1
1 quarter
|
|
211
DELISTED
Archimedes Tech SPAC Partners II Co
ATII
| $6.36M | 0.09% |
590,262
-330,410
| -36% | -$3.59M |
2025 Q2
4 quarters
|
|
212
Hennessy Capital Investment Corp
HCIC
$355M
| $6.3M | 0.09% |
+634,833
| New | +$6.28M |
2026 Q2
0 quarters
|
|
213
Alussa Energy Acquisition Corp II
ALUB
$366M
| $6.23M | 0.09% |
620,042
+8,507
| +1% | +$85.2K |
2026 Q1
1 quarter
|
|
214
NMP Acquisition Corp
NMP
$167M
| $6.2M | 0.09% |
602,656
| – | – |
2025 Q3
3 quarters
|
|
215
Spring Valley Acquisition Corp IV
SVIV
$311M
| $6.18M | 0.09% |
605,942
+39,062
| +7% | +$393K |
2026 Q1
1 quarter
|
|
216
Maywood Acquisition Corp 2
MYX
$146M
| $6.18M | 0.09% |
+625,099
| New | +$6.19M |
2026 Q2
0 quarters
|
|
|
BREZ
217
Breeze Acquisition Corp II
BREZ
$199M
| $6.13M | 0.09% |
+618,742
| New | +$6.14M |
2026 Q2
0 quarters
|
|
218
Copley Acquisition Corp
COPL
$237M
| $6.1M | 0.09% |
584,870
+1,700
| +0.3% | +$17.7K |
2025 Q3
3 quarters
|
|
219
RF Acquisition Corp III
RFAM
$139M
| $5.97M | 0.09% |
604,420
-335,580
| -36% | -$3.31M |
2026 Q1
1 quarter
|
|
220
CO2 Energy Transition Corp
NOEM
$39M
| $5.95M | 0.08% |
563,283
+800
| +0.1% | +$8.33K |
2025 Q1
5 quarters
|
|
221
OTG Acquisition Corp I
OTGA
$303M
| $5.9M | 0.08% |
581,198
+7,284
| +1% | +$73.7K |
2025 Q4
2 quarters
|
|
222
Daedalus Special Acquisition Corp
DSAC
$345M
| $5.87M | 0.08% |
582,101
+6,853
| +1% | +$68.4K |
2026 Q1
1 quarter
|
|
223
KPET Ultra Paceline Corp
KPET
$290M
| $5.85M | 0.08% |
+586,236
| New | +$5.88M |
2026 Q2
0 quarters
|
|
224
ACP Holdings Acquisition Corp
ACGC
$294M
| $5.81M | 0.08% |
+584,442
| New | +$5.81M |
2026 Q2
0 quarters
|
|
225
Iris Acquisition Corp II
IRAB
$230M
| $5.8M | 0.08% |
584,964
+6,500
| +1% | +$64.5K |
2026 Q1
1 quarter
|
|
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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.