QLENX

[COcheesehead]

Looks like you have invested in the following AQR Class N funds:

QNZNX - Class N up 13.84 YTD
QRPNX - Class N up 17.62% YTD
QMHNX - Class N up 14.56% YTD

If you have to pick one of these for your ROTH IRA account, which one and why?

Proof is in the pudding. They are all different strategies. I couldn’t pick just one.

 

[G-Man]

Proof is in the pudding. They are all different strategies. I couldn’t pick just one.

I will see if it is possible to exchange QLENX out in these three AQR funds (QNZNX, QRPNX, and QMHNX) in equal amount on Fidelity. I may need to call Fidelity to do that. We will see.

 

[G-Man]

I will see if it is possible to exchange QLENX out in these three AQR funds (QNZNX, QRPNX, and QMHNX) in equal amount on Fidelity. I may need to call Fidelity to do that. We will see.

Ok.. I exchanged QLENX equally to the three AQR funds mentioned above in both my wife and I ROTH IRA today. Let the good times roll. Hopefully I will get better returns than I got with QLENX. Fingers crossed.

 

[FD1000]

When I like a fund, even if it starts to lag, I rarely sell it completely. Instead, I sell most of the position and leave a few shares behind.

That is one reason I probably have 20–30 funds with very small positions.

In my approach, I don't diversify for the sake of diversification. I prefer to concentrate in the funds that have demonstrated the strongest performance over recent weeks, months, and longer periods. As conditions change, I may rotate into different funds every few months.

The small residual positions help me keep those funds on my radar and make it easier to revisit them if they start performing well again.

One mistake I see investors make is becoming collectors of funds. Over time, they accumulate 10–15 or more meaningful positions, creating unnecessary complexity. In my view, that's too many. I prefer to keep the core portfolio focused on a small number of my highest-conviction holdings.

I went over all AQR funds and found out the best choices are QLENX,QNZNX,QRPNX,QMHNX

Right now it's QNZNX based on ST+LT.

 

[COcheesehead]

I will see if it is possible to exchange QLENX out in these three AQR funds (QNZNX, QRPNX, and QMHNX) in equal amount on Fidelity. I may need to call Fidelity to do that. We will see.

Go into your QLENX position and in the trade box select Exchange and then follow the prompts. You can do it all online.

 

[G-Man]

When I like a fund, even if it starts to lag, I rarely sell it completely. Instead, I sell most of the position and leave a few shares behind.

That is one reason I probably have 20–30 funds with very small positions.

In my approach, I don't diversify for the sake of diversification. I prefer to concentrate in the funds that have demonstrated the strongest performance over recent weeks, months, and longer periods. As conditions change, I may rotate into different funds every few months.

The small residual positions help me keep those funds on my radar and make it easier to revisit them if they start performing well again.

One mistake I see investors make is becoming collectors of funds. Over time, they accumulate 10–15 or more meaningful positions, creating unnecessary complexity. In my view, that's too many. I prefer to keep the core portfolio focused on a small number of my highest-conviction holdings.

I went over all AQR funds and found out the best choices are QLENX,QNZNX,QRPNX,QMHNX

Right now it's QNZNX based on ST+LT.

So, if you have to pick one AQR fund, it would be QNZNX?

 

[G-Man]

Go into your QLENX position and in the action box select Exchange and then follow the prompts. You can do it all online.

Thanks. I was able to exchange QLENX to the three AQR funds. Thanks again for sharing.

 

[FD1000]

 

[G-Man]

View attachment 64210

I will start with the 3 AQR funds that I exchanged into today and exchange out when one is not performing well. Hopefully all three will continue to perform well throughout the year.

 

[G-Man]

View attachment 64210

What point are you trying to make with this chart?

 

[eniacpalm]

So what does that mean? Should current shareholders of QLENX shares sell now? Please advise as I still own shares of QLENX in my ROTH IRA at Fidelity.

AI Overview
Funds close to new investors to prevent "asset bloat," ensuring their total assets under management (AUM) do not exceed the capacity required to effectively execute their specific investment strategy.
Primary Reasons for Closing
Preserving Performance (Alpha): Too much money pouring into a fund makes it difficult to find enough high-quality investments to maintain past performance. Managers cannot be as nimble, forcing them to spread capital too thin or settle for lower-conviction ideas.
Market Impact: When a fund becomes too large, its own buying and selling can artificially drive up or push down the prices of the underlying stocks it is trading.
Liquidity and Niche Strategies: This is particularly common in small-cap funds, micro-cap stocks, or hedge funds. If a fund targets smaller, less liquid companies, large trades can move the entire market, diminishing overall returns.
Protecting Existing Investors: Closing limits capital inflows to safeguard the strategy's edge, ensuring that loyal, existing investors do not see their profits diluted by excessive cash sitting on the sidelines.

 

[eniacpalm]

When I like a fund, even if it starts to lag, I rarely sell it completely. Instead, I sell most of the position and leave a few shares behind.

That is one reason I probably have 20–30 funds with very small positions.

In my approach, I don't diversify for the sake of diversification. I prefer to concentrate in the funds that have demonstrated the strongest performance over recent weeks, months, and longer periods. As conditions change, I may rotate into different funds every few months.

The small residual positions help me keep those funds on my radar and make it easier to revisit them if they start performing well again.

One mistake I see investors make is becoming collectors of funds. Over time, they accumulate 10–15 or more meaningful positions, creating unnecessary complexity. In my view, that's too many. I prefer to keep the core portfolio focused on a small number of my highest-conviction holdings.

I went over all AQR funds and found out the best choices are QLENX,QNZNX,QRPNX,QMHNX

Right now it's QNZNX based on ST+LT.

Since the fund is closing to new investors, but "soft closing", meaning existing investors can still trade, my plan is to not completely exit, - similar to FD1000 "That is one reason I probably have 20–30 funds with very small positions.".

 

[G-Man]

Since the fund is closing to new investors, but "soft closing", meaning existing investors can still trade, my plan is to not completely exit, - similar to FD1000 "That is one reason I probably have 20–30 funds with very small positions.".

Well, I got out of QLENX completely today. I had it for 5 months and lost some money. Exchanged to other AQR funds today to see if I get better performance.

 

[FD1000]

Well, I got out of QLENX completely today. I had it for 5 months and lost some money. Exchanged to other AQR funds today to see if I get better performance.

QLENX is probably going to perform better now. kidding.
We talked about switching 3-4 months ago
Trading is an art.

 

[tutan]

Art or luck? When do you switch to a different fund? Is it some low limit the fund drops to or it stays flat over some period that triggers the sell or is it more of a gut feel? I suppose you win some and lose some when you do this over time.

 

[COcheesehead]

Art or luck? When do you switch to a different fund? Is it some low limit the fund drops to or it stays flat over some period that triggers the sell or is it more of a gut feel? I suppose you win some and lose some when you do this over time.

In comparison. QLENX was dropping while other AQR’s were rising. I didn’t need an explanation. The market price reaction told the story.
Take it out of the AQR context. If you owned an equity fund and the market was going up and your fund wasn’t, what would you do?
Every switch I make is in comparison to something else. My recent departure from PRPFX was the same way. It went up a little, but dropped a lot. That told me all I needed to know.
Standard data points apply to my switches. . Must have a high Sharpe, low ish standard deviation.

 

[FD1000]

Art or luck? When do you switch to a different fund? Is it some low limit the fund drops to or it stays flat over some period that triggers the sell or is it more of a gut feel? I suppose you win some and lose some when you do this over time.

Read my post from 2 months ago.

Why I like certain alternative investments

CTA, DBMF, KMLM, AQMIX, and SPY since Feb 26:

www.early-retirement.org

 

[G-Man]

For some reason, the share price of QLENX did not change yesterday and my trade (exchange) did not execute with Fidelity at the close of the market yesterday. Weird.

 

[COcheesehead]

For some reason, the share price of QLENX did not change yesterday and my trade (exchange) did not execute with Fidelity at the close of the market yesterday. Weird.

For some reason none of my AQR funds updated at Fidelity

 

[G-Man]

For some reason none of my AQR funds updated at Fidelity

I noticed that as well. Strange.

 

[COcheesehead]

I noticed that as well. Strange.

They aren’t updated on the AQR site either.

 

[COcheesehead]

I noticed that as well. Strange.

On chat with a Fidelity rep now. Will update.

 

[COcheesehead]

Here’s the response I got from Fidelity

Thank you so much for your patience! After reviewing the orders, I reached out to consult with out non-Fidelity funds order room for further clarity.

They stated our order room is still waiting on yesterday's closing price from the AQR's fund family and that normally the orders are settled between market open and noon ET. However, they stated that sometimes this can be delayed further depending on when we receive confirmation on yesterday's closing price.

Price protection is there, so the orders will be filled according to the closing price of yesterday as normal and you can expect them to be show as filled sometime later today.

 

[G-Man]

Just checked and only QNZNX has been filled based on yesterday closing price. Still waiting on QMHNX and QRPNX to be filled.

 

[COcheesehead]

All mine filled