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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 | |
|---|---|---|---|---|---|---|---|
551
Kirby Corp
KEX
$7.03B
| $120M | 0.04% |
883,760
+349,588
| +65% | +$50M |
2018 Q2
32 quarters
|
|
552
NiSource
NI
$20.8B
| $120M | 0.04% |
2,524,323
+908,176
| +56% | +$43M |
2020 Q4
22 quarters
|
|
553
UGI
UGI
$8.26B
| $120M | 0.04% |
3,469,229
+2,544,612
| +275% | +$89.9M |
2013 Q2
52 quarters
|
|
554
ManpowerGroup
MAN
$2.21B
| $120M | 0.04% |
3,540,702
-199,441
| -5% | -$6.1M |
2013 Q2
52 quarters
|
|
555
Archer Daniels Midland
ADM
$38.6B
| $118M | 0.04% |
1,542,625
+142,525
| +10% | +$10.8M |
2013 Q2
52 quarters
|
|
556
First Financial Bankshares
FFIN
$4.32B
| $117M | 0.04% |
3,397,018
+1,232,154
| +57% | +$39.8M |
2023 Q2
12 quarters
|
|
557
Omnicom Group
OMC
$22.7B
| $117M | 0.04% |
1,610,906
-2,814,056
| -64% | -$212M |
2013 Q2
52 quarters
|
|
558
Tetra Tech
TTEK
$9.47B
| $117M | 0.04% |
4,111,603
+2,597,141
| +171% | +$76.2M |
2015 Q4
42 quarters
|
|
559
Fastenal
FAST
$59.6B
| $117M | 0.04% |
2,473,323
+1,598,044
| +183% | +$72.5M |
2013 Q2
52 quarters
|
|
560
APA Corp
APA
$18.2B
| $117M | 0.04% |
3,587,095
+700,273
| +24% | +$26.3M |
2020 Q4
22 quarters
|
|
561
NXP Semiconductors
NXPI
$59.2B
| $117M | 0.04% |
416,734
+211,890
| +103% | +$58.4M |
2020 Q3
23 quarters
|
|
562
Ashland
ASH
$3.34B
| $117M | 0.04% |
1,823,353
-188,171
| -9% | -$10.9M |
2022 Q2
16 quarters
|
|
563
Union Pacific
UNP
$174B
| $116M | 0.04% |
432,057
-140,809
| -25% | -$37M |
2013 Q2
52 quarters
|
|
564
Ecolab
ECL
$80.9B
| $116M | 0.04% |
418,367
-429,600
| -51% | -$113M |
2013 Q2
52 quarters
|
|
565
Fluor
FLR
$5.89B
| $116M | 0.04% |
2,208,183
-505,834
| -19% | -$24.8M |
2022 Q2
16 quarters
|
|
566
Avantor
AVTR
$11.7B
| $115M | 0.04% |
11,627,566
+6,760,358
| +139% | +$58.2M |
2020 Q3
23 quarters
|
|
567
Westlake Corp
WLK
$8.25B
| $115M | 0.04% |
1,570,453
+1,310,383
| +504% | +$128M |
2013 Q2
52 quarters
|
|
568
Columbia Sportswear
COLM
$3.14B
| $114M | 0.04% |
1,880,377
+29,720
| +2% | +$1.84M |
2017 Q4
34 quarters
|
|
569
CSX Corp
CSX
$94.1B
| $114M | 0.04% |
2,408,776
+181,653
| +8% | +$8.2M |
2013 Q2
52 quarters
|
|
570
Armstrong World Industries
AWI
$7.11B
| $114M | 0.04% |
711,599
-407,958
| -36% | -$66.7M |
2017 Q4
34 quarters
|
|
571
ASML
ASML
$606B
| $114M | 0.04% |
57,203
+19,907
| +53% | +$31.7M |
2023 Q3
11 quarters
|
|
572
International Flavors & Fragrances
IFF
$24B
| $114M | 0.04% |
1,499,084
-778,991
| -34% | -$58M |
2023 Q3
11 quarters
|
|
573
Primerica
PRI
$8.45B
| $114M | 0.04% |
399,554
+134,785
| +51% | +$36.9M |
2013 Q2
52 quarters
|
|
574
Vale
VALE
$52.8B
| $113M | 0.04% |
7,544,987
+2,554,987
| +51% | +$41.6M |
2013 Q2
52 quarters
|
|
575
nCino
NCNO
$2.45B
| $112M | 0.04% |
7,102,050
+4,650,098
| +190% | +$76.3M |
2025 Q4
2 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.