AQR Discloses Passive 1.1% Stake in GSR III (GSRTU)

Rhea-AI Filing Summary

Schedule 13G/A disclosure for GSR III Acquisition Corp. The filing reports beneficial ownership in the issuer's Class A ordinary shares by AQR-related entities and clarifies their holding structure.

AQR Capital Management, LLC together with AQR Capital Management Holdings, LLC and AQR Arbitrage, LLC report beneficial ownership of 256,832 shares, representing 1.1% of the class. The filing shows shared voting and shared dispositive power over these shares and states the securities are held in the ordinary course of business and not for the purpose of changing or influencing control. The exhibit explains the subsidiary and control relationships among the reporting entities.

Positive

• Filing discloses 256,832 shares (1.1%) of GSR III, providing regulatory transparency
• Reporting clarifies shared voting and shared dispositive power and the relationship among AQR entities

Negative

• None.

Insights

Securities Analyst

TL;DR: AQR discloses a passive 1.1% stake (256,832 shares) in GSR III with shared voting/dispositive power.

The filing documents a 256,832-share position equal to 1.1% of Class A, classified as ownership of 5% or less. Ownership is reported as shared voting and shared dispositive power across AQR entities, indicating aggregated influence through affiliated vehicles rather than sole control. The certification states the position is held in the ordinary course and not to influence control, which supports a passive investor profile. The exhibit clarifies that AQR Capital Management, LLC is a subsidiary of AQR Capital Management Holdings, LLC and AQR Arbitrage, LLC is controlled by AQR Capital Management, LLC.

Corporate Governance Expert

TL;DR: The disclosure improves transparency but reflects a non-controlling, passive stake below material thresholds.

The document provides clear governance-relevant facts: shared voting/dispositive power for 256,832 shares and an explicit certification that the shares were not acquired to affect control. For board-level or proxy considerations, a 1.1% position is typically non-material; however, the consolidated reporting across affiliated entities is important for accurate ownership aggregation. The filing and exhibit appropriately identify the reporting entities and their relationships, meeting disclosure expectations under Schedule 13G/A.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

GSR III Acquisition Corp.

(Name of Issuer)

Class A ordinary share, par value $0.0001 per share

(Title of Class of Securities)

G4R103107

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. G4R103107

1

Names of Reporting Persons

AQR Capital Management, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 256,832.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 256,832.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

256,832.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.1 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. G4R103107

1

Names of Reporting Persons

AQR Capital Management Holdings, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 256,832.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 256,832.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

256,832.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.1 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP No. G4R103107

1

Names of Reporting Persons

AQR Arbitrage, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 256,832.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 256,832.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

256,832.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.1 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: GSR III Acquisition Corp.
(b)	Address of issuer's principal executive offices: 5900 BALCONES DRIVE, SUITE 100, AUSTIN, TEXAS 78731
Item 2.
(a)	Name of person filing: AQR Capital Management, LLC AQR Capital Management Holdings, LLC AQR Arbitrage, LLC
(b)	Address or principal business office or, if none, residence: ONE GREENWICH PLAZA SUITE 130 Greenwich, Connecticut 06830
(c)	Citizenship: AQR Capital Management, LLC - UNITED STATES AQR Capital Management Holdings, LLC - UNITED STATES AQR Arbitrage, LLC - UNITED STATES
(d)	Title of class of securities: Class A ordinary share, par value $0.0001 per share
(e)	CUSIP No.: G4R103107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 256,832
(b)	Percent of class: 1.10 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: AQR Capital Management, LLC - 0 AQR Capital Management Holdings, LLC - 0 AQR Arbitrage, LLC - 0
	(ii) Shared power to vote or to direct the vote: AQR Capital Management, LLC - 256,832 AQR Capital Management Holdings, LLC - 256,832 AQR Arbitrage, LLC - 256,832
	(iii) Sole power to dispose or to direct the disposition of: AQR Capital Management, LLC - 0 AQR Capital Management Holdings, LLC - 0 AQR Arbitrage, LLC - 0
	(iv) Shared power to dispose or to direct the disposition of: AQR Capital Management, LLC - 256,832 AQR Capital Management Holdings, LLC - 256,832 AQR Arbitrage, LLC - 256,832
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Item 2(a) above.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

AQR Capital Management, LLC

Signature:	Henry Parkin
Name/Title:	Authorized Signatory
Date:	08/13/2025

AQR Capital Management Holdings, LLC

Signature:	Henry Parkin
Name/Title:	Authorized Signatory
Date:	08/13/2025

AQR Arbitrage, LLC

Signature:	Henry Parkin
Name/Title:	Authorized Signatory
Date:	08/13/2025

Exhibit Information

AQR Capital Management Holdings, LLC, AQR Capital Management, LLC, and AQR Arbitrage, LLC hereby agree that this Schedule 13G is filed on behalf of each of the parties. AQR Capital Management, LLC is a wholly owned subsidiary of AQR Capital Management Holdings, LLC. AQR Arbitrage, LLC is deemed to be controlled by AQR Capital Management, LLC.

FAQ

Who filed the Schedule 13G/A for GSR III (GSRTU)?

The filing was made by AQR Capital Management, LLC, AQR Capital Management Holdings, LLC, and AQR Arbitrage, LLC.

How many GSR III shares does AQR report owning?

The filers report beneficial ownership of 256,832 shares, equal to 1.1% of the Class A ordinary shares.

Does AQR claim voting or dispositive power over the shares?

Yes. The filing reports shared voting power and shared dispositive power for the 256,832 shares; sole power is reported as 0.

Is the stake intended to influence control of GSR III?

The certification states the securities are held in the ordinary course of business and were not acquired to change or influence control of the issuer.

What is the CUSIP and class of the reported securities?

The reported securities are Class A ordinary shares with CUSIP G4R103107.