AQR-managed funds report $46.2K in IB Acquisition (IBAC) sales

Rhea-AI Filing Summary

AQR Capital Management entities reported sales of common stock in IB Acquisition Corp. (IBAC). On 10/02/2025 affiliated entities disposed of a combined 4,400 shares at $10.50 per share. The sales are recorded across multiple AQR-managed funds and accounts, each listed with the number of shares sold and the resulting beneficial ownership for that account. The filing identifies AQR Capital Management Holdings, LLC as the parent, with AQR Capital Management, LLC and AQR Arbitrage, LLC acting as manager/sub‑advisor to the affected funds. The Form 4 is signed and dated 10/06/2025.

Positive

• Transparent disclosure of individual account sales and post-transaction holdings for investor clarity
• Sales executed at a single reported price ($10.50), simplifying transaction interpretation

Negative

• Aggregate AQR beneficial ownership not consolidated in the filing, requiring additional aggregation to assess total exposure
• Multiple fund-level disposals on the same date could indicate coordinated rebalancing that investors may want to monitor

Insights

Corporate Governance Analyst

Insider sale disclosure shows routine portfolio rebalancing across funds.

The filing documents discrete sales totaling $46,200 (4,400 shares at $10.50) on 10/02/2025 by multiple AQR-managed accounts, with each account's post-transaction beneficial ownership reported.

These sales are recorded as indirect holdings through management and GP relationships; monitor subsequent Form 3/4 filings or aggregate ownership statements if changes continue over the next 30-90 days to assess if this reflects a one-off liquidity event or a pattern.

Portfolio Manager

Transaction size is small relative to reported account positions, suggesting limited market impact.

The largest single reported post-transaction holding shown is 361,913 shares for one AQR account, indicating the 4,400-share sale is a small fraction of that position. Each reported sale lists the same sale price of $10.50, implying these were likely executed together or at similar price levels on 10/02/2025.

Watch for any additional disclosures that consolidate total AQR beneficial ownership across accounts if assessing exposure; absent that, treat this as routine manager-directed disposals within pooled funds over a short timeframe.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

AQR Capital Management Holdings, LLC

(Last) (First) (Middle)

ONE GREENWICH PLAZA

SUITE 130

(Street)

GREENWICH CT 06830

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
IB Acquisition Corp. [ IBAC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/02/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/02/2025		S		1,800	D	$10.5	361,913	I	AQR Global Alternative Investment Offshore Fund, L.P.(1)(2)
Common Stock	10/02/2025		S		732	D	$10.5	147,238	I	AQR Diversified Arbitrage Fund(1)
Common Stock	10/02/2025		S		524	D	$10.5	105,275	I	AQR Absolute Return Master Account, L.P.(1)(2)
Common Stock	10/02/2025		S		390	D	$10.5	78,380	I	AQR Apex MS Master Account, L.P.(1)(2)
Common Stock	10/02/2025		S		345	D	$10.5	69,257	I	AQR TA Global Alpha Fund, L.P.(1)(2)
Common Stock	10/02/2025		S		327	D	$10.5	65,790	I	AQR Corporate Arbitrage Master Account, L.P.(1)(2)
Common Stock	10/02/2025		S		135	D	$10.5	27,213	I	AQR TA Legacy Fund, LLC(1)(2)
Common Stock	10/02/2025		S		82	D	$10.5	16,421	I	AQR UCITS Funds - AQR Apex UCITS Fund(1)
Common Stock	10/02/2025		S		30	D	$10.5	5,932	I	AQR DELTA Master Account, L.P.(1)(2)
Common Stock	10/02/2025		S		21	D	$10.5	4,256	I	AQR UCITS Funds - AQR Corporate Arbitrage UCITS Fund(1)
Common Stock	10/02/2025		S		14	D	$10.5	2,777	I	AQR Arbitrage MA Offshore Fund, L.P.(1)(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

AQR Capital Management Holdings, LLC

(Last) (First) (Middle)

ONE GREENWICH PLAZA

SUITE 130

(Street)

GREENWICH CT 06830

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

AQR CAPITAL MANAGEMENT LLC

(Last) (First) (Middle)

ONE GREENWICH PLAZA

SUITE 130

(Street)

GREENWICH CT 06830

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

AQR Arbitrage LLC

(Last) (First) (Middle)

ONE GREENWICH PLAZA

SUITE 130

(Street)

GREENWICH CT 06830

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. 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. AQR Capital Management, LLC and AQR Arbitrage, LLC act as investment manager to each of AQR Global Alternative Investment Offshore Fund, L.P., AQR Corporate Arbitrage Master Account, L.P., AQR TA Global Alpha Fund, L.P., AQR Absolute Return Master Account, L.P., AQR Apex MS Master Account, L.P., AQR TA Legacy Fund, LLC, AQR DELTA Master Account, L.P., AQR Arbitrage MA Offshore Fund, L.P. AQR Capital Management, LLC serves as the investment manager, and AQR Arbitrage, LLC as sub-advisor, to the AQR Diversified Arbitrage Fund, an open-end registered investment company, to AQR UCITS Funds - AQR Apex UCITS Fund, and to AQR UCITS Funds - AQR Corporate Arbitrage UCITS Fund.

2. AQR Capital Management GP Ltd. is the general partner of AQR Global Alternative Investment Offshore Fund, L.P. AQR Corporate Arbitrage GP, LLC is the general partner of AQR Corporate Arbitrage Master Account, L.P. AQR Tax Advantaged GP II, LLC is the general partner of AQR TA Global Alpha Fund, L.P. AQR Principal Global Asset Allocation, LLC is the general partner of AQR Absolute Return Master Account, L.P. AQR Apex MS GP, LLC is the general partner of AQR Apex MS Master Account, L.P. AQR Capital Management II, LLC is the general partner of AQR TA Legacy Fund, LLC. CNH Principal Partners I, LLC is the general partner of AQR Arbitrage MA Offshore Fund, L.P. AQR Capital Management III, LLC is the general partner of AQR DELTA Master Account, L.P.

	/s/ AQR CAPITAL MANAGEMENT HOLDINGS, LLC, /s/ Henry Parkin, Authorized Signatory	10/06/2025
	/s/ AQR CAPITAL MANAGEMENT, LLC, /s/ Henry Parkin, Authorized Signatory	10/06/2025
	/s/ AQR ARBITRAGE, LLC, /s/ Henry Parkin, Authorized Signatory	10/06/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What transaction did AQR report in the IB Acquisition Corp. (IBAC) Form 4?

AQR-related entities reported sales of a combined 4,400 shares of IBAC common stock on 10/02/2025 at $10.50 per share.

How much proceeds did the reported IBAC sales generate?

The disclosed sales total proceeds of $46,200 (4,400 shares × $10.50 per share).

Which AQR entities signed the Form 4 for IBAC?

The filing is signed by AQR Capital Management Holdings, LLC, AQR Capital Management, LLC, and AQR Arbitrage, LLC, each with Henry Parkin as authorized signatory, dated 10/06/2025.

Are the reported holdings direct or indirect for AQR entities in the IBAC filing?

The filing reports the holdings as indirect (ownership form marked I) through the listed funds and accounts.

Does the Form 4 show any derivative transactions in IBAC?

No derivative securities are reported; Table II for derivatives shows no entries.