ADANX — AQR Diversified Arbitrage Fund, Class N
Data updated: 2026-08-27
ADANX — AQR Diversified Arbitrage Fund, Class N. 2.05% expense ratio · since 2009 · Event-Driven · $2.65B AUM. Holdings, fees, performance and SEC filings.
ADANX Fund Overview
ADANX — AQR Diversified Arbitrage Fund, Class N is a US mutual fund managed by AQR Capital Management, LLC, categorised as Event-Driven. Its benchmark is the ICE BofA US 3-Month Treasury Bill Index. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Adviser: AQR Capital Management, LLC
- Sub-adviser: AQR Arbitrage, LLC
- Trust: AQR Funds
- Category: Event-Driven
- Minimum investment: $2,500
- Additional investment: no minimum
- Benchmark: ICE BofA US 3-Month Treasury Bill Index
- Inception date: January 15, 2009
- Assets under management: $2.65B
- 1-year return: 6.1%
- Ticker: ADANX
- SEC CIK: 0001444822
- SEC series ID: S000024177
- Share class ID: C000070967
- FIGI: BBG000L24K93
- LEI: 9SU636C3FFO5J0KHWM63
About ADANX
The AQR Diversified Arbitrage Fund (ADANX) seeks long-term absolute (positive) returns and aims to outperform, after expenses, the ICE BofA US 3-Month Treasury Bill Index while controlling tracking risk. It pursues arbitrage and corporate event strategies such as merger and convertible arbitrage using a diversified mix of equities, debt, and derivatives, with hedging and short sales. The Fund may use leverage through derivatives and invests in issuers in foreign countries, including emerging markets. Its Class N shares, launched January 15, 2009, cost 2.05% a year and returned 6.1% in the 12 months to June 30, 2026, based on monthly returns reported to the SEC on Form N-PORT, with 1.4% volatility.
ADANX Holdings
Top 10 holdings of AQR Diversified Arbitrage Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Limited Purpose Cash Investment Fund | 33.94% |
| United States of America | 4.51% |
| United States of America | 3.71% |
| United States of America | 3.39% |
| United States of America | 3.37% |
| United States of America | 3.12% |
| United States of America | 2.64% |
| United States of America | 2.64% |
| United States of America | 2.27% |
| United States of America | 2.23% |
ADANX Portfolio Allocation
Asset-class allocation of AQR Diversified Arbitrage Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Cash & Equivalents | 73.7% |
| Fixed Income | 32.2% |
| Equity | 10.0% |
| Other | 0.7% |
| Derivatives | 0.1% |
ADANX Performance
Total returns for ADANX through June 2026, from SEC filings.
| Period | Total return |
|---|---|
| YTD | 2.89% |
| 1 year | 6.13% |
| 3 years (annualised) | 5.58% |
| 5 years (annualised) | 2.64% |
ADANX Risk Information
Risk metrics for ADANX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 1.45%
ADANX Costs and Fees
ADANX costs about $205 per $10,000 invested per year in fund expenses.
- Net expense ratio: 2.05%
- Gross expense ratio: 2.05%
- Portfolio turnover: 410%
- Brokerage commissions: 1.07 bps of average net assets (SEC N-CEN)
ADANX Cashflows
Over the 12 months to 2026-06, AQR Diversified Arbitrage Fund had net inflows of $689.92M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $98.63M |
| 2026-05 | $154.92M |
| 2026-04 | $47.39M |
| 2026-03 | $32.28M |
| 2026-02 | $65.72M |
| 2026-01 | $67.90M |
ADANX Debt Constituents
Largest debt holdings of AQR Diversified Arbitrage Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| DoorDash, Inc. | 1.49% |
| AST SpaceMobile, Inc. | 1.39% |
| Ibiden Co. Ltd. | 1.23% |
| MakeMyTrip Ltd. | 0.86% |
| Affirm Holdings, Inc. | 0.86% |
| Alibaba Group Holding Ltd. | 0.85% |
| Trip.com Group Ltd. | 0.82% |
| Bloom Energy Corp. | 0.74% |
| Grab Holdings Ltd. | 0.72% |
| Nissan Motor Co. Ltd. | 0.72% |
ADANX Prospectus and SEC Filings
Official AQR Diversified Arbitrage Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-28
- Prospectus (485BPOS) — filed 2025-04-25
- Prospectus (497) — filed 2026-03-30
- Portfolio holdings (N-PORT) — filed 2026-08-27
- Portfolio holdings (N-PORT) — filed 2026-05-22
- Portfolio holdings (N-PORT) — filed 2026-02-26
- Annual census (N-CEN) — filed 2026-03-12
- Annual census (N-CEN) — filed 2025-03-11
ADANX Service Providers
Firms that manage, distribute, hold, administer and audit AQR Diversified Arbitrage Fund, as reported on SEC Form N-CEN, fiscal year ending December 31, 2025.
- Adviser: AQR Capital Management, LLC
- Sub-adviser: AQR Arbitrage, LLC
- Distributor: Alps Distributors, Inc.
- Custodians: JPMorgan Chase Bank, N.A. and State Street Bank and Trust Company
- Transfer agent: ALPS Fund Services, Inc.
- Administrator: JPMorgan Chase Bank, N.A.
- Auditor: PricewaterhouseCoopers LLP
- Securities lending agent: State Street Bank and Trust Company
Related Funds
Other Event-Driven funds tracked on ABC INVEST:
ADANX: Frequently Asked Questions
What is the expense ratio of AQR Diversified Arbitrage Fund (ADANX)?
ADANX has a net expense ratio of 2.05%, about $205 a year for every $10,000 invested. ADANX fees and costs
What is the minimum investment for ADANX?
The minimum initial investment in ADANX is $2,500, and there is no minimum for additional purchases. The fund may waive or reduce these minimums. Source: the fund's summary prospectus (May 2026).
What is ADANX's benchmark?
ADANX measures its performance against the ICE BofA US 3-Month Treasury Bill Index.
What are ADANX's top holdings?
As of June 30, 2026, ADANX held 755 positions. The largest are Limited Purpose Cash Investment Fund (33.94%), United States of America (4.51%), United States of America (3.71%), United States of America (3.39%) and United States of America (3.37%). All ADANX holdings
Can I download the full list of ADANX holdings?
Yes. The complete ADANX holdings list as of June 30, 2026 can be downloaded as a CSV file from the Holdings page: holding, ticker, FIGI, sector, country, asset type, shares, value and share of net assets, from the fund's SEC N-PORT filing. Download ADANX holdings (CSV)
How has AQR Diversified Arbitrage Fund performed?
ADANX returned +6.1% over the 12 months to June 2026, +5.6% a year over 3 years and +2.6% a year over 5 years. ADANX performance and risk
How large is ADANX?
ADANX manages $2.65B (SEC N-PORT, June 2026). Investors added a net $689.92M over the past 12 months.
Who manages ADANX and when did it launch?
ADANX is managed by AQR Capital Management, LLC, with AQR Arbitrage, LLC as sub-adviser. It is a series of AQR Funds. It launched on January 15, 2009.
How does ADANX compare with similar Event-Driven funds?
Among 7 Event-Driven funds, ADANX ranks #7 of 7 on net expense ratio (2.05%) and is the largest by assets. The lowest-cost fund in the group is AltShares Merger Arbitrage ETF (ARB, 0.82%). Compare ADANX with ARB
Where can I find ADANX's prospectus and SEC filings?
ADANX's latest prospectus (485BPOS) was filed April 28, 2026 and its latest N-PORT holdings report was filed August 27, 2026. All 54 filings are linked on ABC INVEST and on SEC EDGAR (series S000024177). ADANX SEC filings
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, and annual data from Form N-CEN.
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.