AQR Arbitrage LLC
Follow13F filer, CIK 1167456, Greenwich, CT
AQR Arbitrage LLC reported $4,752,313,348 across 497 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 20.65% of the portfolio.
Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001167456-26-000001
- Period
- 2025-12-31
- Reported value
- $4.75B
- Holdings
- 497
- Top 10 weight
- 20.65%
- New
- 159
- Sold out
- 110
Largest buys vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| QRVOnew | +1,398,701 | $118M |
| TECKadded | +2,106,866 | $101M |
| CADEnew | +2,179,665 | $93.4M |
| NGDnew | +10,530,591 | $91.7M |
| CMAnew | +1,009,326 | $87.7M |
Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.
Largest sells vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| INTERPUBLIC GROUP COSexited | -3,633,044 | -$101M |
| ALEexited | -1,372,186 | -$91.1M |
| Sandstorm Gold Ltdexited | -6,061,783 | -$75.9M |
| Kexited | -880,941 | -$72.1M |
| VERONA PHARMA PLCexited | -513,778 | -$54.8M |
Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.
Back to all 439 share positions
Principal amounts
Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).
| Security | Type | Amount | Value | Change |
|---|---|---|---|---|
| DRAFTKINGS INC NEWDRAFTKINGS INC NEW CNV | principal | 105,022,000 | $96.1M | +68,375,000 |
| ON SEMICONDUCTOR CORPON SEMICONDUCTOR CORP NOTE 0.500% 3/0 | principal | 90,424,000 | $85.8M | +47,784,000 |
| SNAP INCSNAP INC Convertible | principal | 93,425,000 | $81.8M | +66,050,000 |
| DEXCOM INCDEXCOM INC NOTE 0.375% 5/1 | principal | 83,509,000 | $76.9M | +6,325,000 |
| STRATEGY INCSTRATEGY INC NOTE12/0 | principal | 62,140,000 | $51.2M | new |
| SUPER MICRO COMPUTER INCSUPER MICRO COMPUTER INC NOTE 3.500% 3/0 | principal | 52,690,000 | $47M | +34,965,000 |
| WISDOMTREE INCWISDOMTREE INC NOTE 3.250% 8/1 | principal | 31,525,000 | $38M | 0 |
| GLOBAL PMTS INCGLOBAL PMTS INC NOTE 1.500% 3/0 | principal | 40,925,000 | $36.8M | new |
| PATRICK INDS INCPATRICK INDS INC NOTE 1.750%12/0 | principal | 21,168,000 | $36M | -11,219,000 |
| JD.COM INCJD.COM INC NOTE 0.250% 6/0 | principal | 28,800,000 | $28.9M | 0 |
| TRIP COM GROUP LTDTRIP COM GROUP LTD NOTE 0.750% 6/1 | principal | 23,180,000 | $28.6M | new |
| BOX INCBOX INC NOTE 1.500% 9/1 | principal | 27,571,000 | $26.9M | new |
| ALIBABA GROUP HLDG LTDALIBABA GROUP HLDG LTD NOTE 0.500% 6/0 | principal | 17,000,000 | $26.4M | 0 |
| GROUPON INCGROUPON INC NOTE 4.875% 6/3 | principal | 29,500,000 | $26M | 0 |
| WEIBO CORPWEIBO CORP CNV | principal | 22,305,000 | $25.9M | new |
| FORD MOTOR COMPANYFORD MOTOR COMPANY NOTE 3/1 | principal | 24,000,000 | $25M | -1,250,000 |
| BLACKLINE INCBLACKLINE INC NOTE 1.000% 6/0 | principal | 23,600,000 | $25M | +23,500,000 |
| PROGRESS SOFTWARE CORPPROGRESS SOFTWARE CORP NOTE 3.500% 3/0 | principal | 23,822,000 | $24.2M | +20,267,000 |
| VISHAY INTERTECHNOLOGY INCVISHAY INTERTECHNOLOGY INC NOTE 2.250% 9/1 | principal | 26,609,000 | $24M | +5,000,000 |
| MICROCHIP TECHNOLOGY INC.MICROCHIP TECHNOLOGY INC. NOTE 0.750% 6/0 | principal | 23,425,000 | $23M | new |
| STRATEGY INCSTRATEGY INC NOTE 2.250% 6/1 | principal | 19,875,000 | $22.1M | new |
| PAGERDUTY INCPAGERDUTY INC NOTE 1.500%10/1 | principal | 21,286,000 | $20.3M | 0 |
| ALARM COM HLDGS INCALARM COM HLDGS INC NOTE 2.250% 6/0 | principal | 20,975,000 | $20M | 0 |
| WORKIVA INCWORKIVA INC NOTE 1.250% 8/1 | principal | 19,580,000 | $19.4M | new |
| PENGUIN SOLUTIONS INCPENGUIN SOLUTIONS INC NOTE 2.000% 8/1 | principal | 17,251,000 | $17.6M | +180,000 |
| COINBASE GLOBAL INCCOINBASE GLOBAL INC NOTE 0.250% 4/0 | principal | 16,410,000 | $16.8M | +20,000 |
| JETBLUE AIRWAYS CORPJETBLUE AIRWAYS CORP NOTE 2.500% 9/0 | principal | 9,375,000 | $9.12M | new |
| AMERICAN WTR CAP CORPAMERICAN WTR CAP CORP NOTE 3.625% 6/1 | principal | 5,950,000 | $5.93M | -1,125,000 |
| SPECTRUM BRANDS INCSPECTRUM BRANDS INC Convertible Bond | principal | 5,375,000 | $5.1M | +1,375,000 |
| CAPITAL SOUTHWEST CORPCAPITAL SOUTHWEST CORP Convertible Bond | principal | 4,626,000 | $4.59M | new |
| BLACKLINE INCBLACKLINE INC NOTE 3/1 | principal | 4,450,000 | $4.41M | -150,000 |
| Dropbox IncDropbox Inc Convertible bond | principal | 4,325,000 | $4.29M | -14,325,000 |
| FUBOTV INCFUBOTV INC NOTE 3.250% 2/1 | principal | 4,063,000 | $4.07M | 0 |
| BENTLEY SYS INCBENTLEY SYS INC NOTE 0.375% 7/0 | principal | 3,236,000 | $3.05M | -15,529,000 |
| TANDEM DIABETES CARE INCTANDEM DIABETES CARE INC NOTE 1.500% 3/1 | principal | 2,500,000 | $2.55M | new |
| PROGRESS SOFTWARE CORPPROGRESS SOFTWARE CORP NOTE 1.000% 4/1 | principal | 1,300,000 | $1.3M | new |
| MARRIOTT VACATIONS WORLDWIDEMARRIOTT VACATIONS WORLDWIDE NOTE 1/1 | principal | 1,000,000 | $999K | 0 |
| AIRBNB INC CLASS AAIRBNB INC CLASS A CLASS A | principal | 1,000,000 | $992K | 0 |
| REDFIN CORPREDFIN CORP NOTE 0.500% 4/0 | principal | 1,000,000 | $941K | -1,674,000 |
| HERBALIFE LTDHERBALIFE LTD NOTE 4.250% 6/1 | principal | 600,000 | $651K | new |
| WESTERN DIGITAL CORPWESTERN DIGITAL CORP NOTE 3.000%11/1 | principal | 90,000 | $413K | new |
| LUMENTUM HLDGS INCLUMENTUM HLDGS INC NOTE 0.500% 6/1 | principal | 135,000 | $384K | new |
| PARSONS CORP DELPARSONS CORP DEL NOTE 2.625% 3/0 | principal | 300,000 | $309K | -200,000 |
| SNOWFLAKE INCSNOWFLAKE INC NOTE 10/0 | principal | 190,000 | $294K | -18,902,000 |
| DROPBOX INCDROPBOX INC NOTE 3/0 | principal | 230,000 | $232K | -18,825,000 |
| AKAMAI TECHNOLOGIES INCAKAMAI TECHNOLOGIES INC NOTE 1.125% 2/1 | principal | 230,000 | $228K | -60,600,000 |
| FIVE9 INCFIVE9 INC CNV | principal | 250,000 | $226K | -47,495,000 |
| STRATEGY INCSTRATEGY INC NOTE 0.625% 9/1 | principal | 125,000 | $146K | new |
| NUTANIX INCNUTANIX INC NOTE 0.500%12/1 | principal | 125,000 | $121K | new |
| COINBASE GLOBAL INCCOINBASE GLOBAL INC NOTE 0.500% 6/0 | principal | 105,000 | $105K | +20,000 |
| EXACT SCIENCES CORPEXACT SCIENCES CORP NOTE 0.375% 3/0 | principal | 95,000 | $97.6K | -54,789,000 |
| NUTANIX INCNUTANIX INC Convertible | principal | 80,000 | $90K | new |
| EXACT SCIENCES CORPEXACT SCIENCES CORP NOTE 0.375% 3/1 | principal | 85,000 | $88.9K | 0 |
| SNAP INCSNAP INC NOTE 5/0 | principal | 75,000 | $69.9K | 0 |
| MARRIOTT VACATIONS WORLDWIDEMARRIOTT VACATIONS WORLDWIDE NOTE 3.250%12/1 | principal | 70,000 | $66.7K | 0 |
| DAYFORCE INCDAYFORCE INC NOTE 0.250% 3/1 | principal | 50,000 | $49.6K | 0 |
| CONFLUENT INCCONFLUENT INC NOTE 1/1 | principal | 50,000 | $48.7K | new |
| SHIFT4 PMTS INCSHIFT4 PMTS INC NOTE 0.500% 8/0 | principal | 25,000 | $24.1K | 0 |
Sold out in Q4 2025
Positions in the previous quarter's report that this quarter's report no longer lists.
| Security | Shares before | Value before | Type |
|---|---|---|---|
| INTERPUBLIC GROUP COSINTERPUBLIC GROUP COS | 3,633,044 | $101M | shares |
| ALEALLETE INC | 1,372,186 | $91.1M | shares |
| Sandstorm Gold LtdSandstorm Gold Ltd | 6,061,783 | $75.9M | shares |
| KKELLANOVA | 880,941 | $72.1M | shares |
| VERONA PHARMA PLCVERONA PHARMA PLC | 513,778 | $54.8M | shares |
| AVIDXCHANGE HOLDINGS INCAVIDXCHANGE HOLDINGS INC | 5,268,902 | $52.4M | shares |
| WNS HLDGS LTD COM SHSWNS HLDGS LTD COM SHS | 666,844 | $50.9M | shares |
| TRANSOCEAN INCTRANSOCEAN INC | 36,150,000 | $42.8M | principal |
| SPRSPIRIT AEROSYSTEMS HLDGS INC | 930,112 | $35.9M | shares |
| WORLD KINECT CORPORATIONWORLD KINECT CORPORATION | 31,595,000 | $34.9M | principal |
| HANESBRANDS INCHANESBRANDS INC | 5,108,216 | $33.6M | shares |
| ETSY INCETSY INC | 30,475,000 | $31.7M | principal |
| INFORMATICA INCINFORMATICA INC | 1,236,458 | $30.7M | shares |
| VERITEX HLDGS INCVERITEX HLDGS INC | 813,371 | $27.3M | shares |
| FIRSTENERGY CORPFIRSTENERGY CORP | 25,682,000 | $26.7M | principal |
| KKR & CO INCKKR & CO INC | 500,000 | $26.2M | shares |
| SCSSTEELCASE INC-CLASS A | 1,388,663 | $23.9M | shares |
| DUKE ENERGY CORP NEWDUKE ENERGY CORP NEW | 20,075,000 | $21.6M | principal |
| PINNACLE WEST CAP CORPPINNACLE WEST CAP CORP | 18,797,000 | $20.2M | principal |
| MERUS N VMERUS N V | 204,994 | $19.3M | shares |
| Dynavax Technologies CorpDynavax Technologies Corp | 19,100,000 | $17.9M | principal |
| Tourmaline Bio IncTourmaline Bio Inc | 374,785 | $17.9M | shares |
| VIMEO INCVIMEO INC | 2,243,567 | $17.4M | shares |
| Shift4 Payments IncShift4 Payments Inc | 15,040,000 | $15.5M | principal |
| BCSSUBAIN CAP GSS INVT CORP | 1,500,000 | $15M | shares |
| DMIIUDRUGS MADE IN AMER ACQ II CO | 1,500,000 | $14.9M | shares |
| MRC GLOBAL INCMRC GLOBAL INC | 1,019,159 | $14.7M | shares |
| SVACUSPRING VY ACQUISITION CORP I | 1,300,000 | $13.5M | shares |
| BIOMARIN PHARMACEUTICAL INCBIOMARIN PHARMACEUTICAL INC | 14,125,000 | $13.4M | principal |
| GSRFUGSR IV ACQUISITION CORP | 1,300,000 | $13.2M | shares |
| HVMCUHIGHVIEW MERGER CORP | 1,268,226 | $12.8M | shares |
| KOYNUCSLM DIGITA ASSET ACQ CORP I | 1,213,440 | $12.3M | shares |
| PNFPPINNACLE FINANCIAL PARTNERS | 128,144 | $12M | shares |
| TLNCUTALON CAP CORP | 1,158,216 | $11.6M | shares |
| MBVIUM3-BRIGADE ACQUISITION VI CO | 1,141,831 | $11.6M | shares |
| BDCIUBTC DEV CORP | 1,125,000 | $11.2M | shares |
| CCRNCROSS CTRY HEALTHCARE INC | 762,647 | $10.8M | shares |
| PROPROS Holdings Inc | 460,205 | $10.5M | shares |
| BLZRUTRAILBLAZER ACQUISITION CORP | 1,000,000 | $10.2M | shares |
| INTEGRAL AD SCIENCE HLDNG COINTEGRAL AD SCIENCE HLDNG CO | 991,705 | $10.1M | shares |
| ALBEMARLE CORPALBEMARLE CORP | 251,600 | $9.61M | shares |
| MKLYUMCKINLEY ACQUISITION CORP | 950,571 | $9.5M | shares |
| LATAUGALATA ACQUISITION CORP II | 900,000 | $8.98M | shares |
| VERINT SYS INCVERINT SYS INC | 433,256 | $8.77M | shares |
| VLOSVELOS ACQUISITION I CORP | 830,918 | $8.77M | shares |
| Shopify IncShopify Inc | 8,000,000 | $8.42M | principal |
| OTGAUOTG ACQUISITION CORP. I | 800,000 | $8.06M | shares |
| SAPIENS INTERNATIONAL CORPSAPIENS INTERNATIONAL CORP | 186,172 | $8.01M | shares |
| MAC Copper LtdMAC Copper Ltd | 640,206 | $7.82M | shares |
| CHECUCHENGHE ACQUISITION III CO | 700,000 | $6.99M | shares |
| Vital Energy IncVital Energy Inc | 371,963 | $6.28M | shares |
| EMMIS ACQUISITION CORP.EMMIS ACQUISITION CORP. | 600,000 | $5.99M | shares |
| COLUMBUS CIRCLE CAP CORP. ICOLUMBUS CIRCLE CAP CORP. I | 583,941 | $5.91M | shares |
| RAPID7 INCRAPID7 INC | 6,310,000 | $5.6M | principal |
| CUREVAC N VCUREVAC N V | 991,688 | $5.35M | shares |
| NABORS ENERGY TRANSITION CORNABORS ENERGY TRANSITION COR | 469,798 | $5.27M | shares |
| TRAILBLAZER MERGER CORP ITRAILBLAZER MERGER CORP I | 435,910 | $5.1M | shares |
| ODPTHE ODP CORP | 180,260 | $5.02M | shares |
| KDKKODIAK AI INC. | 702,094 | $4.8M | shares |
| EXPEDIA GROUP INCEXPEDIA GROUP INC | 4,548,000 | $4.59M | principal |
| Surmodics IncSurmodics Inc | 149,086 | $4.46M | shares |
| 89BIO INC89BIO INC | 296,445 | $4.36M | shares |
| DTSQDT CLOUD STAR ACQUISITION CO | 400,900 | $4.2M | shares |
| PGREPARAMOUNT GROUP INC | 610,083 | $3.99M | shares |
| HCMAUHCM III ACQUISITION CORP | 379,400 | $3.91M | shares |
| APACUSTONEBRIDGE ACQUISITION II C | 375,000 | $3.74M | shares |
| FCRSUFUTURECREST ACQUISITION CORP | 346,500 | $3.67M | shares |
| ZIMVIE INCZIMVIE INC | 177,454 | $3.36M | shares |
| PREMIER INCPREMIER INC | 118,050 | $3.28M | shares |
| QUMSUQUANTUMSPHERE ACQUISITION CO | 322,660 | $3.27M | shares |
| PERFORMANT HEALTHCARE INCPERFORMANT HEALTHCARE INC | 418,967 | $3.24M | shares |
| GSR III ACQUISITION CORPGSR III ACQUISITION CORP | 297,167 | $2.48M | shares |
| MERIDIANLINK INCMERIDIANLINK INC | 120,388 | $2.4M | shares |
| CETCENTRAL SECS CORP | 44,081 | $2.26M | shares |
| BULLWEBULL CORP | 146,070 | $2.16M | shares |
| MTSRMETSERA INC | 38,959 | $2.04M | shares |
| INFQINFLEQTION INC | 150,846 | $1.94M | shares |
| ASPCA SPAC III ACQUISITION CORP | 181,223 | $1.88M | shares |
| ALPHAVEST ACQUISITION CORPALPHAVEST ACQUISITION CORP | 149,997 | $1.79M | shares |
| HCM II ACQUISITION CORPHCM II ACQUISITION CORP | 241,236 | $1.32M | shares |
| CHWCALAMOS GBL DYN INCOME FUND | 153,184 | $1.16M | shares |
| HTDHANCOCK JOHN TAX-ADVANTAGED | 39,209 | $972K | shares |
| RABROOKFIELD REAL ASSETS INCOM | 44,331 | $592K | shares |
| ISRLFISRAEL ACQUISITIONS CORP CL A | 39,143 | $492K | shares |
| MR COOPER GROUP INCMR COOPER GROUP INC | 2,319 | $489K | shares |
| COLUMBUS CIRCLE CAP CORP. ICOLUMBUS CIRCLE CAP CORP. I | 377,125 | $419K | shares |
| JAZZ INVESTMENTS I LTDJAZZ INVESTMENTS I LTD | 330,000 | $352K | principal |
| RTS/IRON HORSE ACQUISITIONS…RTS/IRON HORSE ACQUISITIONS CORP … | 455,257 | $332K | shares |
| Spring Valley Acquisition C…Spring Valley Acquisition Corp II | 229,541 | $298K | shares |
| XFFCXFLAHERTY & CRUMRIN PFD & INM | 17,311 | $292K | shares |
| ECFELLSWORTH GROWTH & INCOME FD | 24,981 | $290K | shares |
| INTERDIGITAL INCINTERDIGITAL INC | 60,000 | $268K | principal |
| ETGEATON VANCE TX ADV GLBL DIV | 12,644 | $267K | shares |
| XFLTXAI OCTAGON FLOATING RATE & AL | 48,378 | $256K | shares |
| Spring Valley Acquisition C…Spring Valley Acquisition Corp II | 459,084 | $230K | shares |
| ALNYLAM PHARMACEUTICALS INCALNYLAM PHARMACEUTICALS INC | 130,000 | $214K | principal |
| ALPHAVEST ACQUISITION CORPALPHAVEST ACQUISITION CORP | 344,586 | $210K | shares |
| NABORS ENERGY TRANSITION CORNABORS ENERGY TRANSITION COR | 495,238 | $135K | shares |
| RAPID7 INCRAPID7 INC | 95,000 | $89.1K | principal |
| MKS INC.MKS INC. | 80,000 | $87.8K | principal |
| ISLWFISRAEL ACQUISITIONS CORP WT EX | 397,864 | $72.6K | shares |
| HORIZON SPACE ACQUSTN I CORPHORIZON SPACE ACQUSTN I CORP | 246,133 | $39.4K | shares |
| BOWEN ACQUISITION CORPBOWEN ACQUISITION CORP | 148,626 | $35.7K | shares |
| ABPRO HLDGS INCABPRO HLDGS INC | 87,500 | $19.6K | shares |
| Horizon Space Acquisition I…Horizon Space Acquisition I Corp | 246,133 | $16.4K | shares |
| FORLWWTS/FOUR LEAF ACQUISITION CORPORA… | 437,027 | $15.7K | shares |
| ABLVWABLE VIEW GLOBAL INC | 105,781 | $3.55K | shares |
| RAINWRAIN ENHANCEMENT TECHNOLOGIE | 14,144 | $2.26K | shares |
| RMCOWROYALTY MGMT HLDG CORP | 32,359 | $1.63K | shares |
| VSEEWVSEE HEALTH INC | 48,112 | $813 | shares |
How Q4 2025 was built
Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).
| Filing | Role | Amendment | Filed | Accepted | Ingested |
|---|---|---|---|---|---|
| 13F-HR 0001167456-26-000001 | base | 2026-02-17 | acceptance time not in the bulk data set |