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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 | |
|---|---|---|---|---|---|---|---|
376
Etsy
ETSY
$7.98B
| $210M | 0.07% |
2,793,531
+164,616
| +6% | +$10.6M |
2022 Q3
15 quarters
|
|
377
United Microelectronic
UMC
$47.4B
| $210M | 0.07% |
7,718,125
-6,995,905
| -48% | -$120M |
2024 Q3
7 quarters
|
|
378
EnerSys
ENS
$5.99B
| $209M | 0.07% |
905,348
+13,501
| +2% | +$2.93M |
2015 Q4
42 quarters
|
|
379
J.M. Smucker
SJM
$13.9B
| $208M | 0.07% |
1,849,756
+1,096,777
| +146% | +$112M |
2018 Q2
32 quarters
|
|
380
Royal Gold
RGLD
$19.3B
| $208M | 0.07% |
1,043,961
+236,546
| +29% | +$55M |
2016 Q3
39 quarters
|
|
381
Unity
U
$18B
| $207M | 0.07% |
7,248,193
+6,960,650
| +2,421% | +$185M |
2024 Q3
7 quarters
|
|
382
Carrier Global
CARR
$46.4B
| $207M | 0.07% |
2,820,892
+356,858
| +14% | +$23.3M |
2020 Q2
24 quarters
|
|
383
Old Republic International
ORI
$9.39B
| $206M | 0.07% |
5,037,110
-746,560
| -13% | -$29.6M |
2013 Q2
52 quarters
|
|
384
Kinross Gold
KGC
$26.5B
| $205M | 0.07% |
8,777,685
+2,033,556
| +30% | +$59.8M |
2013 Q2
52 quarters
|
|
385
Morningstar
MORN
$8.44B
| $204M | 0.07% |
1,304,388
+680,759
| +109% | +$118M |
2015 Q3
43 quarters
|
|
386
Corpay
CPAY
$26.8B
| $203M | 0.07% |
616,824
+242,680
| +65% | +$80.6M |
2013 Q2
52 quarters
|
|
387
Veralto
VLTO
$25.4B
| $203M | 0.07% |
2,313,579
-82,471
| -3% | -$7.16M |
2023 Q4
10 quarters
|
|
388
Lineage Inc
LINE
$8.05B
| $202M | 0.07% |
4,673,227
+1,980,993
| +74% | +$77.9M |
2025 Q1
5 quarters
|
|
389
Saic
SAIC
$6.11B
| $201M | 0.07% |
1,824,510
-321,259
| -15% | -$32.5M |
2013 Q4
50 quarters
|
|
390
VF Corp
VFC
$6.79B
| $201M | 0.07% |
12,219,293
-2,125,027
| -15% | -$38M |
2022 Q4
14 quarters
|
|
391
Paychex
PAYX
$42B
| $201M | 0.07% |
2,040,389
+1,127,817
| +124% | +$107M |
2013 Q2
52 quarters
|
|
392
American Financial Group
AFG
$12.5B
| $200M | 0.07% |
1,441,927
+761,838
| +112% | +$101M |
2013 Q2
52 quarters
|
|
393
Qualcomm
QCOM
$188B
| $200M | 0.07% |
1,083,163
-1,091,244
| -50% | -$204M |
2013 Q2
52 quarters
|
|
394
Microchip Technology
MCHP
$40.2B
| $199M | 0.07% |
2,239,669
+925,006
| +70% | +$82.5M |
2019 Q4
26 quarters
|
|
395
Tenet Healthcare
THC
$21.6B
| $198M | 0.07% |
1,067,556
-375,032
| -26% | -$68.9M |
2017 Q3
35 quarters
|
|
396
Prologis
PLD
$120B
| $197M | 0.07% |
1,457,062
+55,630
| +4% | +$7.89M |
2013 Q2
52 quarters
|
|
397
FNB Corp
FNB
$6.42B
| $197M | 0.07% |
10,342,210
+7,099,927
| +219% | +$126M |
2019 Q4
26 quarters
|
|
398
Hartford Financial Services
HIG
$37B
| $196M | 0.07% |
1,476,278
-142,634
| -9% | -$19.1M |
2013 Q2
52 quarters
|
|
399
NetApp
NTAP
$42.3B
| $195M | 0.07% |
1,262,497
-33,210
| -3% | -$4.34M |
2013 Q2
52 quarters
|
|
400
Old Dominion Freight Line
ODFL
$37.9B
| $195M | 0.07% |
910,961
+610,534
| +203% | +$132M |
2013 Q2
52 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.