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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 | |
|---|---|---|---|---|---|---|---|
26
Seagate
STX
$145B
| $1.2B | 0.42% |
1,245,371
+244,332
| +24% | +$186M |
2014 Q4
46 quarters
|
|
27
Berkshire Hathaway Class B
BRK.B
$1.14T
| $1.19B | 0.42% |
2,379,700
+737,652
| +45% | +$355M |
2013 Q2
52 quarters
|
|
28
JB Hunt Transport Services
JBHT
$21.5B
| $1.18B | 0.41% |
4,156,396
+105,304
| +3% | +$27M |
2013 Q2
52 quarters
|
|
29
Costco
COST
$438B
| $1.17B | 0.41% |
1,253,747
+226,089
| +22% | +$225M |
2013 Q2
52 quarters
|
|
30
Teradyne
TER
$50.8B
| $1.14B | 0.4% |
2,416,624
+233,416
| +11% | +$88M |
2013 Q2
52 quarters
|
|
31
Snowflake
SNOW
$108B
| $1.11B | 0.39% |
4,430,546
-482,042
| -10% | -$88.7M |
2023 Q1
13 quarters
|
|
32
General Motors
GM
$73.7B
| $1.08B | 0.38% |
13,977,261
+84,639
| +0.6% | +$6.65M |
2013 Q2
52 quarters
|
|
33
Capital One
COF
$124B
| $1.06B | 0.37% |
5,271,438
+1,657,701
| +46% | +$317M |
2013 Q2
52 quarters
|
|
34
PNC Financial Services
PNC
$86.7B
| $1.04B | 0.36% |
4,224,201
-216,513
| -5% | -$48.5M |
2013 Q2
52 quarters
|
|
35
Merck
MRK
$360B
| $1.04B | 0.36% |
8,134,262
-494,224
| -6% | -$57.8M |
2013 Q2
52 quarters
|
|
36
Arista Networks
ANET
$223B
| $1B | 0.35% |
5,932,011
-2,019,002
| -25% | -$317M |
2016 Q1
41 quarters
|
|
37
TechnipFMC
FTI
$27.3B
| $972M | 0.34% |
14,685,742
-3,123,473
| -18% | -$221M |
2022 Q1
17 quarters
|
|
38
TJX Companies
TJX
$162B
| $971M | 0.34% |
6,482,697
+441,801
| +7% | +$69.9M |
2013 Q2
52 quarters
|
|
39
Viking Holdings
VIK
$37.3B
| $967M | 0.34% |
9,293,755
+1,788,048
| +24% | +$155M |
2025 Q3
3 quarters
|
|
|
40
Sandisk
SNDK
$188B
| $965M | 0.34% |
445,251
-248,538
| -36% | -$355M |
2025 Q1
5 quarters
|
|
41
Travelers Companies
TRV
$81.2B
| $937M | 0.33% |
2,837,834
+379,342
| +15% | +$115M |
2013 Q2
52 quarters
|
|
42
Advanced Micro Devices
AMD
$863B
| $937M | 0.33% |
1,681,437
+700,489
| +71% | +$287M |
2015 Q1
45 quarters
|
|
43
JPMorgan Chase
JPM
$902B
| $930M | 0.32% |
2,842,230
+1,212,225
| +74% | +$376M |
2013 Q2
52 quarters
|
|
|
44
Chevron
CVX
$441B
| $912M | 0.32% |
5,502,367
+4,009,582
| +269% | +$746M |
2013 Q2
52 quarters
|
|
|
45
Booking.com
BKNG
$123B
| $909M | 0.32% |
5,100,504
-2,862,971
| -36% | -$488M |
2013 Q2
52 quarters
|
|
46
Nutanix
NTNX
$18.1B
| $901M | 0.31% |
17,778,710
+2,624,196
| +17% | +$119M |
2021 Q4
18 quarters
|
|
47
Carpenter Technology
CRS
$18.7B
| $900M | 0.31% |
1,459,426
+735,006
| +101% | +$346M |
2023 Q2
12 quarters
|
|
|
48
Wells Fargo
WFC
$252B
| $888M | 0.31% |
10,749,836
+7,875,880
| +274% | +$633M |
2013 Q2
52 quarters
|
|
49
Cummins
CMI
$73.1B
| $885M | 0.31% |
1,262,659
+295,663
| +31% | +$195M |
2013 Q2
52 quarters
|
|
50
Vertiv
VRT
$79.5B
| $858M | 0.3% |
2,686,683
+13,923
| +0.5% | +$4.42M |
2022 Q1
17 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.