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Cliff Asness AQR Capital Management
AUM
$287B
Turnover
8.35%
1-Year Est. Return
42.33%
Cliff Asness is a co-founder of AQR Capital Management, a leading quantitative investment firm spanning equities, alternatives, and factor strategies. He is known for academic-informed research on value, momentum, and other systematic premia, as well as candid market commentary. Asness’s work bridges academic finance and large-scale institutional portfolio management.
This Fund
S&P 500
This Quarter Est. Return
+22.95%
1 Year Est. Return
+42.33%
3 Year Est. Return
+119.89%
5 Year Est. Return
+147.33%
10 Year Est. Return
+543.74%
AUM
$287B
AUM Growth
+$68.5B
(+31%)
Cap. Flow
+$37.5B
Cap. Flow % of AUM
Cap. Flow %
13.08%
Top 10 Holdings %
Top 10 Hldgs %
12.15%
Holding
3,986
New
247
Increased
2,455
Reduced
1,098
Closed
86
Avg Time Held
4.1
years
Top 10 Avg Time Held
3.3
years
Top 20 Avg Time Held
2.3
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$1.17B |
| 2 |
Apple
AAPL
|
+$849M |
| 3 |
Chevron
CVX
|
+$746M |
| 4 |
Synopsys
SNPS
|
+$643M |
| 5 |
Wells Fargo
WFC
|
+$633M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Micron Technology
MU
|
+$517M |
| 2 |
Booking.com
BKNG
|
+$488M |
| 3 |
Walmart Inc
WMT
|
+$414M |
| 4 |
Sandisk
SNDK
|
+$355M |
| 5 |
Cigna
CI
|
+$325M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.5% |
| 2 | Financials | 14.38% |
| 3 | Industrials | 14.2% |
| 4 | Consumer Discretionary | 10.53% |
| 5 | Healthcare | 10.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
NVIDIA
NVDA
$5.17T
| $7.48B | 2.61% |
37,823,393
+5,705,688
| +18% | +$1.17B |
2013 Q2
52 quarters
|
|
|
2
Apple
AAPL
$5.01T
| $5.01B | 1.75% |
17,560,970
+2,967,013
| +20% | +$849M |
2013 Q2
52 quarters
|
|
|
3
Micron Technology
MU
$994B
| $4.43B | 1.54% |
3,833,728
-689,687
| -15% | -$517M |
2013 Q2
52 quarters
|
|
4
Microsoft
MSFT
$3.93T
| $4.26B | 1.49% |
11,473,057
+1,437,459
| +14% | +$582M |
2013 Q2
52 quarters
|
|
5
Amazon
AMZN
$2.7T
| $2.84B | 0.99% |
11,924,360
+2,455,592
| +26% | +$616M |
2013 Q2
52 quarters
|
|
6
Broadcom
AVGO
$1.57T
| $2.52B | 0.88% |
6,683,693
+497,873
| +8% | +$200M |
2016 Q2
40 quarters
|
|
7
Alphabet (Google) Class C
GOOG
$4.12T
| $2.24B | 0.78% |
6,347,769
+1,135,731
| +22% | +$406M |
2013 Q2
52 quarters
|
|
8
Alphabet (Google) Class A
GOOGL
$4.17T
| $2.11B | 0.73% |
5,991,568
+221,754
| +4% | +$79.8M |
2015 Q4
42 quarters
|
|
9
Comfort Systems
FIX
$50.6B
| $2.08B | 0.73% |
1,059,017
-57,213
| -5% | -$104M |
2015 Q2
44 quarters
|
|
10
Western Digital
WDC
$124B
| $1.88B | 0.65% |
2,940,948
-518,617
| -15% | -$252M |
2020 Q4
22 quarters
|
|
11
Centene
CNC
$34.2B
| $1.84B | 0.64% |
28,678,701
-4,935,086
| -15% | -$264M |
2013 Q2
52 quarters
|
|
12
GE Vernova
GEV
$245B
| $1.71B | 0.6% |
1,521,865
+40,792
| +3% | +$41.6M |
2024 Q2
8 quarters
|
|
13
Bristol-Myers Squibb
BMY
$122B
| $1.58B | 0.55% |
27,357,486
-2,273,619
| -8% | -$131M |
2013 Q2
52 quarters
|
|
14
Airbnb
ABNB
$102B
| $1.52B | 0.53% |
10,624,015
+2,624,264
| +33% | +$358M |
2022 Q1
17 quarters
|
|
15
Lam Research
LRCX
$330B
| $1.51B | 0.53% |
3,485,364
+33,301
| +1% | +$10.1M |
2013 Q2
52 quarters
|
|
16
Intel
INTC
$475B
| $1.47B | 0.51% |
10,742,567
-727,525
| -6% | -$73.6M |
2013 Q2
52 quarters
|
|
17
PG&E
PCG
$39.3B
| $1.45B | 0.51% |
86,284,177
+49,408
| +0.1% | +$831K |
2021 Q4
18 quarters
|
|
18
GE Aerospace
GE
$326B
| $1.4B | 0.49% |
3,740,815
-206,932
| -5% | -$64.8M |
2019 Q1
29 quarters
|
|
19
Edison International
EIX
$21.5B
| $1.39B | 0.49% |
18,694,105
-2,145,223
| -10% | -$153M |
2020 Q4
22 quarters
|
|
20
Chubb
CB
$139B
| $1.36B | 0.48% |
4,003,312
+162,321
| +4% | +$52.9M |
2014 Q4
46 quarters
|
|
21
Fortinet
FTNT
$124B
| $1.33B | 0.46% |
8,673,742
+901,797
| +12% | +$104M |
2013 Q2
52 quarters
|
|
22
VeriSign
VRSN
$27.3B
| $1.25B | 0.43% |
4,949,848
+1,197,478
| +32% | +$333M |
2013 Q2
52 quarters
|
|
23
Eli Lilly
LLY
$1.12T
| $1.24B | 0.43% |
1,035,605
+180,185
| +21% | +$184M |
2013 Q2
52 quarters
|
|
24
Tesla
TSLA
$1.4T
| $1.24B | 0.43% |
3,008,189
+748,559
| +33% | +$298M |
2020 Q1
25 quarters
|
|
25
Meta Platforms (Facebook)
META
$1.81T
| $1.21B | 0.42% |
2,168,492
+296,406
| +16% | +$181M |
2013 Q3
51 quarters
|
|
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Cliff Asness's Q2 2026 Portfolio in Review
As of Q2 2026, Cliff Asness held 3,986 positions worth $287B, up 31% from $218B the previous quarter. Its ten largest holdings account for 12% of the portfolio.
Cliff Asness deployed $37.5B of net new capital in Q2 2026, opening 247 new positions and adding to 2,455 existing holdings. Its largest new stake was FedEx Freight: 1,024,555 shares worth $155M.
By sector, the portfolio is most concentrated in Technology at 25% of assets, up from 22% a quarter earlier, followed by Financials and Industrials.
On the sell side, the largest reduction was Micron Technology, an estimated $517M trimmed.
- Cliff Asness's largest Q2 2026 buy was FedEx Freight: 1,024,555 shares worth $155M.
- Cliff Asness added most to NVIDIA in Q2 2026, an estimated $1.17B increase.
- Cliff Asness's biggest Q2 2026 reduction was Micron Technology, cutting an estimated $517M.
- Cliff Asness fully exited Masimo in Q2 2026, selling an estimated $147M.
- Cliff Asness's ten largest holdings make up 12% of its $287B portfolio in Q2 2026.
- Cliff Asness opened 247 new positions and closed 86 in Q2 2026.
- Cliff Asness's portfolio value rose 31% quarter-over-quarter to $287B.
Based on AQR Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.