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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 | |
|---|---|---|---|---|---|---|---|
3401
State Street SPDR S&P Emerging Markets Small Cap ETF
EWX
$630M
| $485K | ﹤0.01% |
6,530
+2,017
| +45% | +$147K |
2025 Q3
3 quarters
|
|
3402
Franklin Street Properties
FSP
$33.5M
| $484K | ﹤0.01% |
938,924
+615,421
| +190% | +$364K |
2022 Q1
17 quarters
|
|
3403
DMC Global
BOOM
$159M
| $481K | ﹤0.01% |
82,874
+31,760
| +62% | +$207K |
2025 Q1
5 quarters
|
|
3404
NACCO Industries
NC
$264M
| $480K | ﹤0.01% |
9,593
+3,568
| +59% | +$179K |
2025 Q4
2 quarters
|
|
3405
DELISTED
Waldencast
WALD
| $479K | ﹤0.01% |
272,428
+223,209
| +454% | +$299K |
2025 Q3
3 quarters
|
|
3406
Franklin US Mid Cap Multifactor Index ETF
FLQM
$1.45B
| $479K | ﹤0.01% |
8,280
+488
| +6% | +$27.7K |
2024 Q1
9 quarters
|
|
3407
FT Vest US Equity Buffer ETF August
FAUG
$1.45B
| $478K | ﹤0.01% |
8,468
-68
| -0.8% | -$3.76K |
2025 Q4
2 quarters
|
|
3408
Inspired Entertainment
INSE
$94.4M
| $477K | ﹤0.01% |
57,840
+31,895
| +123% | +$237K |
2025 Q2
4 quarters
|
|
3409
South Bow Corp
SOBO
$7.41B
| $477K | ﹤0.01% |
13,558
-15,002
| -53% | -$528K |
2026 Q1
1 quarter
|
|
3410
Biote Corp
BTMD
$33M
| $476K | ﹤0.01% |
251,619
+197,960
| +369% | +$408K |
2025 Q1
5 quarters
|
|
3411
iShares MSCI Global Sustainable Development Goals ETF
SDG
$161M
| $475K | ﹤0.01% |
5,315
+981
| +23% | +$87.7K |
2025 Q3
3 quarters
|
|
3412
DELISTED
SkyWater Technology
SKYT
| $475K | ﹤0.01% |
13,643
-17,203
| -56% | -$588K |
2023 Q2
12 quarters
|
|
3413
Neurogene
NGNE
$609M
| $474K | ﹤0.01% |
15,061
+4,750
| +46% | +$131K |
2026 Q1
1 quarter
|
|
3414
Nuveen ESG Large-Cap Growth ETF
NULG
$3.01B
| $470K | ﹤0.01% |
+4,019
| New | +$431K |
2026 Q2
0 quarters
|
|
3415
NextNav
NN
$2.12B
| $469K | ﹤0.01% |
26,324
-1,646
| -6% | -$31.8K |
2023 Q4
10 quarters
|
|
3416
Build-A-Bear
BBW
$310M
| $468K | ﹤0.01% |
15,277
+2,130
| +16% | +$76.4K |
2022 Q3
15 quarters
|
|
3417
iShares Global Comm Services ETF
IXP
$427M
| $467K | ﹤0.01% |
4,139
+314
| +8% | +$37.8K |
2026 Q1
1 quarter
|
|
3418
Funko
FNKO
$369M
| $467K | ﹤0.01% |
79,431
+20,855
| +36% | +$100K |
2024 Q4
6 quarters
|
|
3419
iShares iBonds Dec 2026 Term Treasury ETF
IBTG
$1.85B
| $467K | ﹤0.01% |
20,387
| – | – |
2025 Q3
3 quarters
|
|
3420
Korea Electric Power
KEP
$13.5B
| $464K | ﹤0.01% |
38,379
-11,327
| -23% | -$157K |
2024 Q3
7 quarters
|
|
3421
AB International Low Volatility Equity ETF
ILOW
$1.84B
| $464K | ﹤0.01% |
10,201
-805
| -7% | -$36K |
2026 Q1
1 quarter
|
|
3422
Fidelity MSCI Energy Index ETF
FENY
$2.33B
| $463K | ﹤0.01% |
15,673
+4,052
| +35% | +$129K |
2026 Q1
1 quarter
|
|
3423
iShares 20+ Year Treasury Bond ETF
TLT
$47.7B
| $463K | ﹤0.01% |
5,359
+1,009
| +23% | +$86.6K |
2024 Q3
7 quarters
|
|
3424
James Hardie Industries
JHX
$15.1B
| $463K | ﹤0.01% |
17,688
+5,123
| +41% | +$113K |
2025 Q3
3 quarters
|
|
3425
iShares US Regional Banks ETF
IAT
$638M
| $462K | ﹤0.01% |
+7,421
| New | +$431K |
2026 Q2
0 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.