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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
-2.84%
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
$2.99B
AUM Growth
-$2.93B
(-50%)
Cap. Flow
-$3.15B
Cap. Flow
% of AUM
-105.49%
Top 10 Holdings %
Top 10 Hldgs %
20.02%
Holding
648
New
182
Increased
47
Reduced
118
Closed
85
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ETFC
E*Trade Financial Corporation
ETFC
|
+$56.1M |
| 2 |
FG
FGL Holdings Ordinary Shares
FG
|
+$41M |
| 3 |
Willis Towers Watson
WTW
|
+$40.9M |
| 4 |
LM
Legg Mason, Inc.
LM
|
+$39.5M |
| 5 |
Qiagen
QGEN
|
+$37.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
WCG
Wellcare Health Plans, Inc.
WCG
|
+$135M |
| 2 |
MDCO
Medicines Co
MDCO
|
+$130M |
| 3 |
ZAYO
Zayo Group Holdings, Inc.
ZAYO
|
+$119M |
| 4 |
S
Sprint Corporation
S
|
+$114M |
| 5 |
WBC
WABCO HOLDINGS INC.
WBC
|
+$97.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 11.26% |
| 2 | Healthcare | 11.07% |
| 3 | Financials | 9.57% |
| 4 | Consumer Discretionary | 8.23% |
| 5 | Industrials | 6% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
TSG
1
DELISTED
The Stars Group Inc.
TSG
| $78.6M | 2.63% |
3,849,961
-1,000,882
| -21% | -$22.5M |
|
|
ACIA
2
DELISTED
Acacia Communications Inc
ACIA
| $68.9M | 2.3% |
1,025,306
-867,304
| -46% | -$58.7M |
|
|
AGN
3
DELISTED
Allergan plc
AGN
| $64.8M | 2.17% |
365,933
-420,790
| -53% | -$79.2M |
|
|
MLNX
4
DELISTED
Mellanox Technologies, Ltd.
MLNX
| $60.3M | 2.02% |
496,708
-718,933
| -59% | -$84.5M |
|
|
ADSW
5
DELISTED
Advanced Disposal Services Inc
ADSW
| $59.8M | 2% |
1,823,300
-1,788,249
| -50% | -$58.6M |
|
|
RARX
6
DELISTED
Ra Pharmaceuticals, Inc. Common Stock
RARX
| $57.2M | 1.91% |
1,190,437
-716,226
| -38% | -$33.3M |
|
|
WMGI
7
DELISTED
Wright Medical Group Inc
WMGI
| $54.8M | 1.83% |
1,913,551
-2,382,135
| -55% | -$70.7M |
|
|
WBC
8
DELISTED
WABCO HOLDINGS INC.
WBC
| $53.5M | 1.79% |
396,394
-724,288
| -65% | -$97.4M |
|
|
TGE
9
DELISTED
Tallgrass Energy, LP Class A Shares
TGE
| $51.2M | 1.71% |
3,112,990
+34,918
| +1% | +$714K |
|
|
TIF
10
DELISTED
Tiffany & Co.
TIF
| $49.5M | 1.66% |
382,137
-517,086
| -58% | -$68M |
|
|
CY
11
DELISTED
Cypress Semiconductor
CY
| $45.9M | 1.54% |
1,970,325
-3,531,442
| -64% | -$80.7M |
|
|
ETFC
12
DELISTED
E*Trade Financial Corporation
ETFC
| $45.5M | 1.52% |
+1,327,217
| New | +$56.1M |
|
|
FTSV
13
DELISTED
Forty Seven, Inc. Common Stock
FTSV
| $44.6M | 1.49% |
+467,053
| New | +$28.3M |
|
|
LM
14
DELISTED
Legg Mason, Inc.
LM
| $44.3M | 1.48% |
+906,349
| New | +$39.5M |
|
|
CZR
15
DELISTED
Caesars Entertainment Corporation
CZR
| $43.4M | 1.45% |
6,415,433
-883,957
| -12% | -$10.4M |
|
|
FIT
16
DELISTED
Fitbit, Inc. Class A common stock
FIT
| $42.8M | 1.43% |
6,419,239
-6,430,475
| -50% | -$41.6M |
|
|
17
Qiagen
QGEN
$8.53B
| $42.3M | 1.41% |
+958,780
| New | +$37.5M |
|
|
AXE
18
DELISTED
Anixter International Inc
AXE
| $42M | 1.4% |
478,048
+66,207
| +16% | +$6.26M |
|
|
TECD
19
DELISTED
Tech Data Corp
TECD
| $39.9M | 1.33% |
305,009
-6,820
| -2% | -$945K |
|
|
KEM
20
DELISTED
KEMET Corporation
KEM
| $38.7M | 1.3% |
1,603,086
-141,722
| -8% | -$3.6M |
|
|
FG
21
DELISTED
FGL Holdings Ordinary Shares
FG
| $38M | 1.27% |
+3,878,563
| New | +$41M |
|
|
LOGM
22
DELISTED
LogMein, Inc.
LOGM
| $35.9M | 1.2% |
430,717
+260,717
| +153% | +$22M |
|
|
23
Willis Towers Watson
WTW
$27.9B
| $35.3M | 1.18% |
+207,951
| New | +$40.9M |
|
|
EE
24
DELISTED
El Paso Electric Company
EE
| $35.2M | 1.18% |
517,870
-288,551
| -36% | -$19.5M |
|
|
TCO
25
DELISTED
Taubman Centers Inc.
TCO
| $32M | 1.07% |
+765,040
| New | +$31.9M |
|
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AQR Arbitrage's Q1 2020 Portfolio in Review
As of Q1 2020, AQR Arbitrage held 648 positions worth $2.99B, down 50% from $5.92B the previous quarter. Its ten largest holdings account for 20% of the portfolio.
AQR Arbitrage withdrew a net $3.15B in Q1 2020, closing 85 positions and reducing 118 holdings. Its most notable exit was Wellcare Health Plans, Inc., an estimated $135M position sold in full.
By sector, the portfolio is most concentrated in Technology at 11% of assets, up from 9.2% a quarter earlier, followed by Healthcare and Financials.
Against the trend, AQR Arbitrage opened a new position in E*Trade Financial Corporation worth $45.5M.
- AQR Arbitrage's largest Q1 2020 buy was E*Trade Financial Corporation: 1,327,217 shares worth $45.5M.
- AQR Arbitrage added most to IBERIABANK Corp in Q1 2020, an estimated $25.8M increase.
- AQR Arbitrage's biggest Q1 2020 reduction was Sprint Corporation, cutting an estimated $114M.
- AQR Arbitrage fully exited Wellcare Health Plans, Inc. in Q1 2020, selling an estimated $135M.
- AQR Arbitrage's ten largest holdings make up 20% of its $2.99B portfolio in Q1 2020.
- AQR Arbitrage opened 182 new positions and closed 85 in Q1 2020.
- AQR Arbitrage's portfolio value fell 50% quarter-over-quarter to $2.99B.
Based on AQR Arbitrage's 13F filing for Q1 2020, filed 15 May 2020.