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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 | |
|---|---|---|---|---|---|---|---|
51
State Street SPDR S&P 500 ETF Trust
SPY
$816B
| $855M | 0.3% |
1,144,745
+228,345
| +25% | +$166M |
2023 Q2
12 quarters
|
|
52
Citigroup
C
$204B
| $853M | 0.3% |
6,096,397
+674,103
| +12% | +$87.8M |
2013 Q2
52 quarters
|
|
53
FedEx
FDX
$69.8B
| $839M | 0.29% |
2,678,995
-375,995
| -12% | -$137M |
2013 Q2
52 quarters
|
|
54
Molina Healthcare
MOH
$11.2B
| $807M | 0.28% |
3,560,601
+697,208
| +24% | +$126M |
2014 Q3
47 quarters
|
|
55
Adobe
ADBE
$98.3B
| $805M | 0.28% |
3,928,010
-304,030
| -7% | -$72M |
2013 Q2
52 quarters
|
|
56
Expedia Group
EXPE
$35.8B
| $794M | 0.28% |
3,104,499
+554,875
| +22% | +$132M |
2020 Q4
22 quarters
|
|
57
Texas Roadhouse
TXRH
$11.3B
| $785M | 0.27% |
4,082,764
+465,908
| +13% | +$79.4M |
2013 Q3
51 quarters
|
|
58
Rubrik
RBRK
$22.9B
| $780M | 0.27% |
9,947,988
+7,730,767
| +349% | +$486M |
2025 Q3
3 quarters
|
|
59
Amphenol
APH
$193B
| $775M | 0.27% |
8,990,180
-2,309,158
| -20% | -$166M |
2013 Q2
52 quarters
|
|
60
Eversource Energy
ES
$24.7B
| $772M | 0.27% |
10,684,244
+6,739,886
| +171% | +$467M |
2013 Q2
52 quarters
|
|
61
Emcor
EME
$30.6B
| $760M | 0.26% |
930,817
-6,263
| -0.7% | -$5.3M |
2013 Q2
52 quarters
|
|
62
Phillips 66
PSX
$116B
| $759M | 0.26% |
4,489,507
+1,105,984
| +33% | +$190M |
2013 Q2
52 quarters
|
|
63
DraftKings
DKNG
$9.8B
| $749M | 0.26% |
29,668,081
+6,815,596
| +30% | +$168M |
2023 Q1
13 quarters
|
|
64
Freeport-McMoran
FCX
$97B
| $747M | 0.26% |
11,927,335
+3,091,576
| +35% | +$199M |
2013 Q2
52 quarters
|
|
65
T-Mobile US
TMUS
$172B
| $744M | 0.26% |
4,473,373
+1,783,266
| +66% | +$338M |
2015 Q3
43 quarters
|
|
66
General Dynamics
GD
$93.7B
| $742M | 0.26% |
2,095,666
-128,886
| -6% | -$44.1M |
2013 Q2
52 quarters
|
|
67
IBM
IBM
$225B
| $742M | 0.26% |
2,688,952
+800,610
| +42% | +$202M |
2013 Q2
52 quarters
|
|
68
Johnson & Johnson
JNJ
$627B
| $738M | 0.26% |
2,907,803
-635,378
| -18% | -$148M |
2013 Q2
52 quarters
|
|
69
Roblox
RBLX
$36B
| $735M | 0.26% |
13,522,824
+5,243,666
| +63% | +$261M |
2024 Q1
9 quarters
|
|
70
Delta Air Lines
DAL
$49.2B
| $732M | 0.26% |
7,859,947
-579,195
| -7% | -$43.7M |
2020 Q4
22 quarters
|
|
71
UnitedHealth
UNH
$373B
| $729M | 0.25% |
1,757,550
+780,142
| +80% | +$289M |
2013 Q2
52 quarters
|
|
72
PepsiCo
PEP
$182B
| $729M | 0.25% |
5,380,695
-475,087
| -8% | -$71M |
2013 Q2
52 quarters
|
|
73
Ross Stores
ROST
$76.9B
| $726M | 0.25% |
3,504,868
+1,655,688
| +90% | +$373M |
2013 Q2
52 quarters
|
|
|
74
Walmart Inc
WMT
$949B
| $703M | 0.25% |
6,210,515
-3,332,379
| -35% | -$414M |
2013 Q2
52 quarters
|
|
75
Regeneron Pharmaceuticals
REGN
$82.8B
| $702M | 0.24% |
1,126,080
-104,928
| -9% | -$71.4M |
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.