# EDGAR Filing Document

**Accession Number:** 0001327228
**File Stem:** 0001410368-26-010981
**Filing Date:** 2026-2
**Character Count:** 14351
**Document Hash:** ae370aa39448312d30fc8dda39673e52
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-010981.hdr.sgml**: 20260212

**ACCESSION NUMBER**: 0001410368-26-010981

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260212

**DATE AS OF CHANGE**: 20260212

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Alternative Investment Partners Absolute Return Fund
- **CENTRAL INDEX KEY:** 0001327228

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21767
- **FILM NUMBER:** 26624739

**BUSINESS ADDRESS:**
- **STREET 1:** ONE TOWER BRIDGE, 100 FRONT STREET
- **CITY:** WEST CONSHOHOCKEN
- **STATE:** PA
- **ZIP:** 19428-2881
- **BUSINESS PHONE:** 610-260-7600

**MAIL ADDRESS:**
- **STREET 1:** ONE TOWER BRIDGE, 100 FRONT STREET
- **CITY:** WEST CONSHOHOCKEN
- **STATE:** PA
- **ZIP:** 19428-2881

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Alternative Investment Partners Absolute Return Fund

- **b. Investment Company Act file number:** 811-21767

- **c. CIK number of Registrant:** 0001327228

- **d. LEI of Registrant:** 549300PFU5CJFCKK4L55

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** ONE TOWER BRIDGE, 100 FRONT STREET

  - **City:** WEST CONSHOHOCKEN

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19428-2881

  - **Telephone number:** 610-260-7600

**Item A.2. Information about the Series.**

- **a. Name of Series:** Alternative Investment Partners Absolute Return Fund

- **c. LEI of Series:** 549300PFU5CJFCKK4L55

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $379783725.70

**Total Liabilities:** $87799730.72

**Net Assets:** $291983994.98

**Cash Not Reported:** $2243146.74

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 1.90%                | 1.26%                | 1.67%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3244725.56              | $2896241.13                                |
| Month 2  | $2600135.03              | $1843976.66                                |
| Month 3  | $158495.18               | $5536758.19                                |

### Schedule of Portfolio Investments

| Name                                  | Title                                 | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Element Capital US Feeder Fund LLC    | Element Capital US Feeder Fund LLC    | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $0.00         | 0.00%             |  |  |  | Yes           | N/A                | On Loan: No      |
| BCIM Credit Opportunities, LP         | BCIM Credit Opportunities, LP         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |    778619 | OU      | $778618.62    | 0.27%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Caxton Macro (USA) LLC                | Caxton Macro (USA) LLC                | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |  11450800 | OU      | $11450799.73  | 3.92%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Torus Feeder 2 LP                     | Torus Feeder 2 LP                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |  21124146 | OU      | $21124145.64  | 7.23%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Olympus Peak Onshore LP               | Olympus Peak Onshore LP               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |    428514 | OU      | $428514.49    | 0.15%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Night Squared Onshore LP              | Night Squared Onshore LP              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   8647171 | OU      | $8647171.16   | 2.96%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Burford Alternative Income Fund LP    | Burford Alternative Income Fund LP    | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   1142766 | OU      | $1142765.51   | 0.39%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Alyeska Fund LP                       | Alyeska Fund LP                       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |  22334143 | OU      | $22334142.65  | 7.65%             |  |  |  | Yes           | N/A                | On Loan: No      |
| LMR Alpha Rates Trading Fund Limited  | LMR Alpha Rates Trading Fund Limited  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | KY        |  10496076 | OU      | $10496075.68  | 3.59%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Calibrate Feeder Fund                 | Calibrate Feeder Fund                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | KY        |  12705392 | OU      | $12705392.14  | 4.35%             |  |  |  | Yes           | N/A                | On Loan: No      |
| VR Global Onshore Fund, L.P.          | VR Global Onshore Fund, L.P.          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |  11691726 | OU      | $11691725.52  | 4.00%             |  |  |  | Yes           | N/A                | On Loan: No      |
| North Reef Capital LP                 | North Reef Capital LP                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |  11448460 | OU      | $11448459.86  | 3.92%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Arini Diversified Alpha US Fund LP    | Arini Diversified Alpha US Fund LP    | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | KY        |   8992458 | OU      | $8992457.67   | 3.08%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Elan Feeder Fund Ltd.                 | Elan Feeder Fund Ltd.                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | KY        |   7525636 | OU      | $7525635.51   | 2.58%             |  |  |  | Yes           | N/A                | On Loan: No      |
| D.E. Shaw Composite Fund LLC          | D.E. Shaw Composite Fund LLC          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $0.00         | 0.00%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Magnetar Capital Fund LP              | Magnetar Capital Fund LP              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |    138373 | OU      | $138373.00    | 0.05%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Axon Partners, LP                     | Axon Partners, LP                     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   1358277 | OU      | $1358276.56   | 0.47%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Cerberus Partners, LP                 | Cerberus Partners, LP                 | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   4297493 | OU      | $4297492.92   | 1.47%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Two Sigma Spectrum U.S. Fund LP       | Two Sigma Spectrum U.S. Fund LP       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |  13147575 | OU      | $13147575.12  | 4.50%             |  |  |  | Yes           | N/A                | On Loan: No      |
| QVT SLV Onshore Ltd.                  | QVT SLV Onshore Ltd.                  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | KY        |         0 | OU      | $0.00         | 0.00%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Cerberus SPV LLC                      | Cerberus SPV LLC                      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   3655878 | OU      | $3655877.94   | 1.25%             |  |  |  | Yes           | N/A                | On Loan: No      |
| D.E. Shaw Oculus Fund, LLC            | D.E. Shaw Oculus Fund, LLC            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |  31271000 | OU      | $31270999.75  | 10.71%            |  |  |  | Yes           | N/A                | On Loan: No      |
| Eisler Capital Multi Strategy Fund LP | Eisler Capital Multi Strategy Fund LP | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |  12031521 | OU      | $12031521.07  | 4.12%             |  |  |  | Yes           | N/A                | On Loan: No      |
| D.E. Shaw Valence Fund, L.L.C.        | D.E. Shaw Valence Fund, L.L.C.        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |  45513563 | OU      | $45513562.99  | 15.59%            |  |  |  | Yes           | N/A                | On Loan: No      |
| Axon Partners, LP                     | Axon Partners, LP                     | CUSIP: 000000000<br>LEI: N/A                  | Short            |  | PF                | US        |        -0 | OU      | $-0.26        | -0.00%            |  |  |  | Yes           | N/A                | On Loan: No      |
| Holocene Advisors Fund LP             | Holocene Advisors Fund LP             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |  23317076 | OU      | $23317075.52  | 7.99%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Axon Partners, LP                     | Axon Partners, LP                     | CUSIP: 000000000<br>LEI: Q0I1D1LZT14X1H1YYA58 | Short            |  | PF                | US        |    -53541 | OU      | $-53541.06    | -0.02%            |  |  |  | Yes           | N/A                | On Loan: No      |
| Burford Alternative Income Fund II LP | Burford Alternative Income Fund II LP | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   2750741 | OU      | $2750740.77   | 0.94%             |  |  |  | Yes           | N/A                | On Loan: No      |
| FourSixThree Domestic Fund, LLC       | FourSixThree Domestic Fund, LLC       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |  13690152 | OU      | $13690151.86  | 4.69%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Squarepoint Focus US Feeder LP        | Squarepoint Focus US Feeder LP        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |  24175058 | OU      | $24175057.70  | 8.28%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Broad Reach (US) Fund LP              | Broad Reach (US) Fund LP              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |  15072388 | OU      | $15072388.16  | 5.16%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Aquatic Argo Fund LP                  | Aquatic Argo Fund LP                  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |   8480395 | OU      | $8480394.96   | 2.90%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Squarepoint Core US Feeder LP         | Squarepoint Core US Feeder LP         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |  28198581 | OU      | $28198580.51  | 9.66%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Viking Global Equities LP             | Viking Global Equities LP             | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |  17066898 | OU      | $17066898.00  | 5.85%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Element Capital US Feeder Fund LLC    | Element Capital US Feeder Fund LLC    | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |         0 | OU      | $0.00         | 0.00%             |  |  |  | Yes           | N/A                | On Loan: No      |

### Signature

**Date Signed:** 2026-02-02

**Name of Applicant:** Alternative Investment Partners Absolute Return Fund

**Signature:** Francis J Smith

**Name of Signer:** Francis J Smith

**Title:** Principal Financial Officer