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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 | |
|---|---|---|---|---|---|---|---|
76
Lockheed Martin
LMT
$127B
| $701M | 0.24% |
1,376,925
-130,861
| -9% | -$70.7M |
2013 Q2
52 quarters
|
|
77
Atlassian
TEAM
$56B
| $686M | 0.24% |
8,822,984
+4,672,953
| +113% | +$382M |
2023 Q1
13 quarters
|
|
78
Waste Connections
WCN
$42.6B
| $684M | 0.24% |
4,111,035
+3,002,466
| +271% | +$475M |
2013 Q2
52 quarters
|
|
79
Medpace
MEDP
$17.4B
| $677M | 0.24% |
1,278,935
-74,902
| -6% | -$34.6M |
2018 Q1
33 quarters
|
|
|
80
Synopsys
SNPS
$85.8B
| $672M | 0.23% |
1,507,732
+1,367,110
| +972% | +$643M |
2013 Q2
52 quarters
|
|
81
Newmont
NEM
$123B
| $670M | 0.23% |
7,231,406
-401,170
| -5% | -$43.7M |
2013 Q2
52 quarters
|
|
82
McKesson
MCK
$120B
| $661M | 0.23% |
878,727
-28,745
| -3% | -$22.8M |
2013 Q2
52 quarters
|
|
83
EOG Resources
EOG
$82.8B
| $655M | 0.23% |
5,046,979
+2,718,903
| +117% | +$370M |
2013 Q2
52 quarters
|
|
84
Vanguard S&P 500 ETF
VOO
$1.04T
| $649M | 0.23% |
944,297
+257,774
| +38% | +$172M |
2023 Q3
11 quarters
|
|
85
Johnson Controls International
JCI
$89.6B
| $647M | 0.23% |
4,496,456
+1,499,675
| +50% | +$212M |
2018 Q4
30 quarters
|
|
86
Take-Two Interactive
TTWO
$38.6B
| $646M | 0.23% |
2,592,293
+410,985
| +19% | +$90.7M |
2013 Q2
52 quarters
|
|
87
Bank of New York Mellon
BNY
$97.9B
| $646M | 0.23% |
4,467,291
+171,027
| +4% | +$23.4M |
2013 Q2
52 quarters
|
|
88
Neurocrine Biosciences
NBIX
$14.4B
| $643M | 0.22% |
3,818,037
-1,120,930
| -23% | -$166M |
2018 Q1
33 quarters
|
|
89
Visa
V
$763B
| $640M | 0.22% |
1,870,589
+543,979
| +41% | +$175M |
2013 Q2
52 quarters
|
|
90
New York Times
NYT
$11.2B
| $634M | 0.22% |
9,053,710
+871,270
| +11% | +$67.2M |
2015 Q4
42 quarters
|
|
91
Blackrock
BLK
$175B
| $632M | 0.22% |
657,295
+217,101
| +49% | +$225M |
2013 Q2
52 quarters
|
|
92
Natera
NTRA
$58.5B
| $628M | 0.22% |
2,344,570
+70,579
| +3% | +$15M |
2023 Q2
12 quarters
|
|
93
Boeing
BA
$151B
| $624M | 0.22% |
2,881,096
+1,586,705
| +123% | +$353M |
2020 Q3
23 quarters
|
|
94
Illumina
ILMN
$40.5B
| $623M | 0.22% |
3,544,465
-436,615
| -11% | -$63.9M |
2024 Q1
9 quarters
|
|
95
Aon
AON
$62.9B
| $623M | 0.22% |
1,905,800
+926,045
| +95% | +$299M |
2014 Q4
46 quarters
|
|
96
Veeva Systems
VEEV
$51.6B
| $615M | 0.21% |
3,498,371
+901,506
| +35% | +$149M |
2016 Q3
39 quarters
|
|
97
Ameriprise Financial
AMP
$43.1B
| $607M | 0.21% |
1,324,189
-151,145
| -10% | -$69.3M |
2013 Q2
52 quarters
|
|
98
Incyte
INCY
$23.6B
| $603M | 0.21% |
5,320,901
-487,029
| -8% | -$48.3M |
2013 Q2
52 quarters
|
|
99
ExxonMobil
XOM
$731B
| $600M | 0.21% |
4,407,126
+563,201
| +15% | +$84.3M |
2013 Q2
52 quarters
|
|
100
Exelixis
EXEL
$16B
| $599M | 0.21% |
11,023,943
-2,071,798
| -16% | -$101M |
2015 Q3
43 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.