Cliff Asness AQR Capital Management
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.
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 |
SNDK
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 | |
|---|---|---|---|---|---|---|
51
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $855M | 0.3% |
1,144,745
+228,345
| +25% | +$166M |
|
52
Citigroup
C
$221B
| $853M | 0.3% |
6,096,397
+674,103
| +12% | +$87.8M |
|
53
FedEx
FDX
$76.9B
| $839M | 0.29% |
2,678,995
-375,995
| -12% | -$137M |
|
54
Molina Healthcare
MOH
$10.5B
| $807M | 0.28% |
3,560,601
+697,208
| +24% | +$126M |
|
55
Adobe
ADBE
$109B
| $805M | 0.28% |
3,928,010
-304,030
| -7% | -$72M |
|
56
Expedia Group
EXPE
$38.6B
| $794M | 0.28% |
3,104,499
+554,875
| +22% | +$132M |
|
57
Texas Roadhouse
TXRH
$13.4B
| $785M | 0.27% |
4,082,764
+465,908
| +13% | +$79.4M |
|
58
Rubrik
RBRK
$20.6B
| $780M | 0.27% |
9,947,988
+7,730,767
| +349% | +$486M |
|
59
Amphenol
APH
$194B
| $775M | 0.27% |
4,495,090
-1,154,579
| -20% | -$166M |
|
60
Eversource Energy
ES
$26.4B
| $772M | 0.27% |
10,684,244
+6,739,886
| +171% | +$467M |
|
61
Emcor
EME
$34.3B
| $760M | 0.26% |
930,817
-6,263
| -0.7% | -$5.3M |
|
62
Phillips 66
PSX
$96.9B
| $759M | 0.26% |
4,489,507
+1,105,984
| +33% | +$190M |
|
63
DraftKings
DKNG
$13B
| $749M | 0.26% |
29,668,081
+6,815,596
| +30% | +$168M |
|
64
Freeport-McMoran
FCX
$110B
| $747M | 0.26% |
11,927,335
+3,091,576
| +35% | +$199M |
|
65
T-Mobile US
TMUS
$196B
| $744M | 0.26% |
4,473,373
+1,783,266
| +66% | +$338M |
|
66
General Dynamics
GD
$104B
| $742M | 0.26% |
2,095,666
-128,886
| -6% | -$44.1M |
|
67
IBM
IBM
$222B
| $742M | 0.26% |
2,688,952
+800,610
| +42% | +$202M |
|
68
Johnson & Johnson
JNJ
$651B
| $738M | 0.26% |
2,907,803
-635,378
| -18% | -$148M |
|
69
Roblox
RBLX
$27.4B
| $735M | 0.26% |
13,522,824
+5,243,666
| +63% | +$261M |
|
70
Delta Air Lines
DAL
$54.2B
| $732M | 0.26% |
7,859,947
-579,195
| -7% | -$43.7M |
|
71
UnitedHealth
UNH
$350B
| $729M | 0.25% |
1,757,550
+780,142
| +80% | +$289M |
|
72
PepsiCo
PEP
$196B
| $729M | 0.25% |
5,380,695
-475,087
| -8% | -$71M |
|
73
Ross Stores
ROST
$76.7B
| $726M | 0.25% |
3,504,868
+1,655,688
| +90% | +$373M |
|
|
74
Walmart Inc
WMT
$825B
| $703M | 0.25% |
6,210,515
-3,332,379
| -35% | -$414M |
|
75
Regeneron Pharmaceuticals
REGN
$85.9B
| $702M | 0.24% |
1,126,080
-104,928
| -9% | -$71.4M |
|
Similar funds
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.