AQR Capital Takes 6.8% Passive Stake in Chewy, Signaling Institutional Confidence

*AQR Capital Management, LLC and its related entity AQR Capital Management Holdings, LLC each reported holding 16,342,838 shares of Chewy’s Class A common stock, representing 6.8% of the company’s outstanding equity. The filing, accession #0001167557‑26‑000087, was submitted to the SEC on May 14, 2026 as a Schedule 13G, confirming the investors’ status as passive, qualified institutional owners with no intent to influence management or control the company.

The two entities reported zero sole voting and dispositive power, relying entirely on shared voting (15,227,223 votes) and shared dispositive rights (16,342,838 shares). This structure is typical for large systematic managers that hold securities on behalf of multiple client accounts and aligns with the rule‑13d‑1(b) exemption for passive holdings.

For Chewy shareholders, the disclosure is a reminder that a sophisticated, data‑driven manager has taken a sizable position while the stock trades near its 52‑week low. Chewy’s shares are currently priced at $21.44, down 0.97% on the day, with a 1‑week decline of 12% and a year‑to‑date loss of 34.5%. The Relative Strength Index of 23 suggests the stock is oversold, and the market cap sits at roughly $8.9 billion.

While AQR’s stake does not signal an activist agenda, it does add weight to the company’s inclusion in major institutional portfolios and could modestly support liquidity. The filing also reflects broader market dynamics, as investors continue to evaluate Chewy’s growth prospects in the pet‑care e‑commerce space amid a volatile macro environment.

Bottom line: AQR’s passive 6.8% holding is a vote of confidence from a leading systematic manager, offering a subtle but notable endorsement for Chewy at a time when the stock is under pressure.