AQR Group Reports 1.29M-Unit Position in Pioneer Acquisition I Corp

Rhea-AI Filing Summary

AQR Capital Management and related entities report beneficial ownership of 1,293,025 units of Pioneer Acquisition I Corp Class A ordinary shares, representing 5.11% of the class. The filing shows each reporting entity has shared voting power and shared dispositive power over the 1,293,025 units, and reports no sole voting or sole dispositive power.

The filing includes a certification that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control. The schedule is filed on behalf of AQR Capital Management, LLC, AQR Capital Management Holdings, LLC and AQR Arbitrage, LLC, and an exhibit states the ownership/control relationships among those entities.

Positive

• AQR group disclosed a material beneficial ownership of 1,293,025 units, representing 5.11% of the Class A shares
• Filing certifies holdings were acquired and are held in the ordinary course of business and not to influence control

Negative

• None.

Insights

Securities Analyst

TL;DR: AQR entities disclosed a >5% passive stake (1,293,025 units; 5.11%) with shared voting/dispositive power.

The Schedule 13G indicates a material passive position above the 5% threshold that triggers public disclosure obligations. The filing explicitly reports shared voting and dispositive power across three related AQR entities and contains the certification that the holdings are in the ordinary course of business and not intended to influence control. For investors, the key takeaway is a new, disclosed concentrated holder without an expressed activist intent; the holding structure and inter-entity relationships are provided in the exhibit.

Corporate Governance Expert

TL;DR: Governance impact appears limited: disclosure shows shared authority but affirms passive intent.

The filing identifies governance-relevant facts: the reporting persons exercise shared voting and dispositive authority (no sole authority), and an exhibit clarifies that AQR Capital Management is a subsidiary of the holding company and controls AQR Arbitrage. The included certification reduces signals of an active control campaign. From a governance perspective, the presence of a >5% holder merits monitoring, but the filing contains no express plans to change board composition or corporate control.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 08/13/2025 - 09:57 AM Learn about SEC filing dates

FAQ

How many Pioneer Acquisition I Corp (PACHU) shares does AQR report owning?

The reporting persons state beneficial ownership of 1,293,025 units of Class A ordinary shares.

What percentage of PACHU does AQR's holding represent?

The filing reports the position represents 5.11% of the Class A shares.

Which AQR entities filed the Schedule 13G for PACHU?

AQR Capital Management, LLC; AQR Capital Management Holdings, LLC; and AQR Arbitrage, LLC filed the Schedule 13G.

Does the filing indicate AQR intends to influence control of PACHU?

No. The certification in the filing states the securities were acquired and are held in the ordinary course of business and were not acquired to change or influence control.

What voting and dispositive powers are reported for the AQR filers?

Each reporting person reports 0 sole voting/dispositive power and 1,293,025 shared voting and shared dispositive power.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Pioneer Acquisition I Corp

(Name of Issuer)

Class A ordinary shares, par value $0.0001 per share

(Title of Class of Securities)

G7117W123

(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. G7117W123

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 1,293,025.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,293,025.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,293,025.00

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)

5.11 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. G7117W123

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 1,293,025.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,293,025.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,293,025.00

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)

5.11 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

CUSIP No. G7117W123

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 1,293,025.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,293,025.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,293,025.00

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)

5.11 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Pioneer Acquisition I Corp
(b)	Address of issuer's principal executive offices: 131 CONCORD STREET, BROOKLYN, NEW YORK 11201
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 shares, par value $0.0001 per share
(e)	CUSIP No.: G7117W123
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: 1,293,025* *Units representing 1,293,025 shares of Class A ordinary shares, par value $0.0001 per share
(b)	Percent of class: 5.11 %
(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 - 1,293,025 AQR Capital Management Holdings, LLC - 1,293,025 AQR Arbitrage, LLC - 1,293,025
	(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 - 1,293,025 AQR Capital Management Holdings, LLC - 1,293,025 AQR Arbitrage, LLC - 1,293,025
Item 5.	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.