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Overview of AQR Capital Management’s 13G filing

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AQR Capital Management

Headquartered in Greenwich, Connecticut, AQR Capital Management is an investment management firm founded by former Goldman Sachs portfolio manager Clifford Asness in 1998. He founded the firm with his partners and former Goldman Sachs colleagues David Kabiller, Robert Krail, and John Liew.

The fund disclosed some new positions and amended some existing positions after the third quarter ending in September 2014. These positions were disclosed via 13G filings. In this series, we’ll go through the positions the fund traded in its 13G filings.

 

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Position shifts

In 4Q14, AQR Capital Management initiated positions in Hemisphere Media Group (HMTV). The fund also initiated positions in blank check companies Levy Acquisition Corp. (LEVYU) and Collabrium Japan Acquisition Corp. (JACQU). The fund also reduced its positions in blank check companies Chart Acquisition Corp. (CACGU) and Capitol Acquisition Corp. II (CLACU).

A firm still in its developmental stage, a blank check company either lacks a complete business plan, or it is involved in a potential merger and acquisition with another entity. According to the US Securities and Exchange Commission (or SEC), these companies are considered to be penny stocks or microcap stocks.

AQR Capital Management’s portfolio decreased slightly to $36.3 billion in the third quarter of 2014, compared to $37.1 billion in the second quarter. For more information about the fund’s third quarter activities, please refer to Highlights of AQR Capital’s 3Q14 positions.

In the next part of this series, we’ll discuss AQR Capital’s new position in Hemisphere Media Group.

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