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AQR Arbitrage

AQR Arbitrage Portfolio holdings

AUM $7.02B Turnover 38.08%
1-Year Est. Return 31.58%
This Fund
S&P 500
This Quarter Est. Return
+6.86%
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
$6.09B
AUM Growth
+$1.34B
Cap. Flow
+$632M
Cap. Flow %
10.38%
Top 10 Hldgs %
21.04%
Holding
659
New
187
Increased
89
Reduced
230
Closed
103
Avg Time Held
0.5 years
Top 10 Avg Time Held
0.2 years
Top 20 Avg Time Held
0.2 years

Top Buys

Rank Stock Value
1
PEN icon
Penumbra
PEN
+$143M
2
WBS icon
Webster Financial
WBS
+$123M
3
AES icon
AES
AES
+$123M
4
WTRG icon
Essential Utilities
WTRG
+$86.1M
5
OS
OneStream Inc
OS
+$79.6M

Top Sells

Rank Stock Value
1
CYBR icon
CyberArk
CYBR
+$97M
2
CADE icon
Cadence Bank
CADE
+$93.4M
3
NGD
New Gold Inc
NGD
+$91.7M
4
CMA icon
Comerica
CMA
+$87.7M
5
FYBR icon
Frontier Communications
FYBR
+$76.1M

Sector Composition

Rank Sector Weight
1 Financials 30.93%
2 Miscellaneous 21.09%
3 Healthcare 8.74%
4 Technology 8.27%
5 Industrials 7.88%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
EA icon
1
DELISTED
Electronic Arts
EA
$147M 2.42%
727,717
+390,476
+116% +$78.8M
2025 Q3
2 quarters
PEN icon
2
Penumbra
PEN
$12.7B
$139M 2.28%
+423,073
New +$143M
2026 Q1
0 quarters
QRVO icon
3
DELISTED
Qorvo
QRVO
$134M 2.2%
1,729,089
+330,388
+24% +$26.7M
2025 Q4
1 quarter
GTLS icon
4
DELISTED
Chart Industries
GTLS
$133M 2.19%
644,393
+210,895
+49% +$43.7M
2025 Q2
3 quarters
NSC icon
5
Norfolk Southern
NSC
$72.9B
$127M 2.08%
446,139
+103,660
+30% +$30.8M
2025 Q3
2 quarters
TECK icon
6
Teck Resources
TECK
$32.3B
$127M 2.08%
2,444,694
+78,673
+3% +$4.21M
2025 Q3
2 quarters
WTRG icon
7
Essential Utilities
WTRG
$11.4B
$126M 2.07%
3,137,219
+2,188,335
+231% +$86.1M
2025 Q4
1 quarter
WBS icon
8
DELISTED
Webster Financial
WBS
$124M 2.03%
+1,803,563
New +$123M
2026 Q1
0 quarters
AES icon
9
AES
AES
$10.7B
$116M 1.9%
+8,232,095
New +$123M
2026 Q1
0 quarters
AL icon
10
DELISTED
Air Lease Corp
AL
$109M 1.79%
1,675,636
+190,427
+13% +$12.3M
2025 Q3
2 quarters
WBD icon
11
DELISTED
Warner Bros
WBD
$104M 1.71%
3,838,953
+2,107,505
+122% +$59M
2025 Q4
1 quarter
TXNM icon
12
TXNM Energy Inc
TXNM
$6.45B
$103M 1.7%
1,765,847
+585,832
+50% +$34.5M
2025 Q2
3 quarters
KVUE icon
13
Kenvue
KVUE
$35.8B
$95.2M 1.56%
5,585,579
+2,082,648
+59% +$37.1M
2025 Q4
1 quarter
FOLD icon
14
DELISTED
Amicus Therapeutics
FOLD
$84.5M 1.39%
5,843,849
+3,860,740
+195% +$55.3M
2025 Q4
1 quarter
OS
15
DELISTED
OneStream Inc
OS
$81.4M 1.34%
+3,393,367
New +$79.6M
2026 Q1
0 quarters
HOLX icon
16
DELISTED
Hologic
HOLX
$79.3M 1.3%
1,048,664
+629,007
+150% +$47.3M
2025 Q4
1 quarter
CWAN icon
17
DELISTED
Clearwater Analytics
CWAN
$77.9M 1.28%
3,295,740
+1,975,612
+150% +$46.8M
2025 Q4
1 quarter
CTRA icon
18
DELISTED
Coterra Energy
CTRA
$74.1M 1.22%
+2,108,811
New +$63.4M
2026 Q1
0 quarters
JHG icon
19
DELISTED
Janus Henderson
JHG
$74M 1.22%
1,440,631
+1,176,071
+445% +$58.2M
2025 Q4
1 quarter
MASI icon
20
DELISTED
Masimo
MASI
$73.9M 1.21%
+416,956
New +$65.4M
2026 Q1
0 quarters
SEE icon
21
DELISTED
Sealed Air
SEE
$73.7M 1.21%
1,752,560
+697,948
+66% +$29.2M
2025 Q4
1 quarter
NWE icon
22
NorthWestern Energy
NWE
$4.54B
$71.3M 1.17%
1,081,947
+474,919
+78% +$32.2M
2025 Q3
2 quarters
TPH icon
23
DELISTED
Tri Pointe Homes
TPH
$69.4M 1.14%
+1,485,406
New +$60.4M
2026 Q1
0 quarters
LBRDK icon
24
DELISTED
Liberty Broadband Class C
LBRDK
$67.6M 1.11%
1,343,024
+273,744
+26% +$13.8M
2025 Q1
4 quarters
SLAB icon
25
Silicon Laboratories
SLAB
$7.39B
$64.3M 1.06%
+308,783
New +$56.6M
2026 Q1
0 quarters
1
2 3 4 5

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AQR Arbitrage's Q1 2026 Portfolio in Review

As of Q1 2026, AQR Arbitrage held 659 positions worth $6.09B, up 28% from $4.75B the previous quarter. Its ten largest holdings account for 21% of the portfolio.

AQR Arbitrage deployed $632M of net new capital in Q1 2026, opening 187 new positions and adding to 89 existing holdings. Its largest new stake was Penumbra: 423,073 shares worth $139M.

By sector, the portfolio is most concentrated in Financials at 31% of assets, down from 32% a quarter earlier, followed by Miscellaneous and Healthcare.

On the sell side, the largest reduction was Axalta, an estimated $5.89M trimmed.

  • AQR Arbitrage's largest Q1 2026 buy was Penumbra: 423,073 shares worth $139M.
  • AQR Arbitrage added most to Essential Utilities in Q1 2026, an estimated $86.1M increase.
  • AQR Arbitrage's biggest Q1 2026 reduction was Axalta, cutting an estimated $5.89M.
  • AQR Arbitrage fully exited CyberArk in Q1 2026, selling an estimated $97M.
  • AQR Arbitrage's ten largest holdings make up 21% of its $6.09B portfolio in Q1 2026.
  • AQR Arbitrage opened 187 new positions and closed 103 in Q1 2026.
  • AQR Arbitrage's portfolio value rose 28% quarter-over-quarter to $6.09B.

Based on AQR Arbitrage's 13F filing for Q1 2026, filed 15 May 2026.