# AQR Arbitrage, LLC

> AQR Arbitrage, LLC is an SEC-registered investment advisory firm in Greenwich, CT, registered since 2001, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 114626
- Filed as: AQR ARBITRAGE, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Greenwich, CT
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/114626
- AdvisorCensus page: https://advisorcensus.com/firm/aqr-arbitrage-llc-greenwich-ct-114626

## Quick answers

**How is AQR Arbitrage, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), AQR Arbitrage, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is AQR Arbitrage, LLC located?**
AQR Arbitrage, LLC's principal office is in Greenwich, CT, according to its Form ADV.

**Is AQR Arbitrage, LLC registered with the SEC or a state?**
AQR Arbitrage, LLC is an SEC-registered investment advisory firm, registered since 2001. Status as filed: Approved. CRD 114626.

**How much does AQR Arbitrage, LLC manage?**
AQR Arbitrage, LLC reports $4,384,055,877 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**How have AQR Arbitrage, LLC's assets and staff changed since 2021?**
In the Form ADV data for AQR Arbitrage, LLC: Regulatory assets under management: $3,120,484,667 in the October 2021 data and $4,384,055,877 in the October 2026 data, up 40%. Total employees: 15 in October 2021 and 18 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does AQR Arbitrage, LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (14); investment companies (1).

**Does AQR Arbitrage, LLC report any disciplinary disclosures?**
Reports 2 disclosure items on Form ADV Item 11: yes answers to 11.D(2) (another regulator's finding of a violation) and 11.D(4) (another regulator's order in the past ten years). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/114626

**What changed in AQR Arbitrage, LLC's recent Form ADV filings?**
In the April 2026 filing data: Item 11 disclosure answers changed: 2 yes answers, previously 3 (now no: 11.E(2)). Employees performing advisory functions went from 15 to 18. Regulatory assets under management went from $3,458,541,467 to $4,384,055,877 (+27%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $4,384,055,877
- Discretionary: $4,384,055,877
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | Not reported |
| High net worth individuals | 0 | Not reported |
| Banking or thrift institutions | 0 | Not reported |
| Investment companies | 1 | $2,123,953,270 |
| Business development companies | 0 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 14 | $2,260,102,607 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | Not reported |
| Charitable organizations | 0 | Not reported |
| State or municipal government entities (including government pension plans) | 0 | Not reported |
| Other investment advisers | 0 | Not reported |
| Insurance companies | 0 | Not reported |
| Sovereign wealth funds and foreign official institutions | 0 | Not reported |
| Corporations or other businesses not listed above | 0 | Not reported |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2001 (24 years)
- Employees: 18 total, 18 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CT
- Disclosures (Item 11): Reports 2 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?
- 11.D(4): In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/114626

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $3,120,484,667 | 15 | March 30, 2021 |
| October 2022 | $3,077,080,250 | 14 | March 30, 2022 |
| October 2023 | $3,047,491,090 | 13 | March 30, 2023 |
| October 2024 | $2,847,157,925 | 15 | March 28, 2024 |
| October 2025 | $3,458,541,467 | 15 | March 28, 2025 |
| October 2026 | $4,384,055,877 | 18 | March 31, 2026 |

Regulatory assets under management: $3,120,484,667 in the October 2021 data and $4,384,055,877 in the October 2026 data, up 40%.
Total employees: 15 in October 2021 and 18 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Item 11 disclosure answers changed: 2 yes answers, previously 3 (now no: 11.E(2)).
- Employees performing advisory functions went from 15 to 18.
- Regulatory assets under management went from $3,458,541,467 to $4,384,055,877 (+27%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. AQR Arbitrage, LLC (CRD 114626): Form ADV filing data as of October 2026.