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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 | |
|---|---|---|---|---|---|---|---|
1201
Waters Corp
WAT
$46B
| $19.4M | 0.01% |
52,650
+1,112
| +2% | +$379K |
2013 Q3
51 quarters
|
|
1202
Hecla Mining
HL
$9.8B
| $19.3M | 0.01% |
1,271,486
-391,354
| -24% | -$6.87M |
2020 Q2
24 quarters
|
|
1203
Affirm
AFRM
$24.5B
| $19.3M | 0.01% |
237,138
-201,082
| -46% | -$13.1M |
2023 Q4
10 quarters
|
|
1204
STAG Industrial
STAG
$6.98B
| $19.3M | 0.01% |
506,887
+49,649
| +11% | +$1.9M |
2019 Q1
29 quarters
|
|
1205
Vanguard Total Bond Market
BND
$164B
| $19.3M | 0.01% |
262,550
+32,838
| +14% | +$2.41M |
2024 Q1
9 quarters
|
|
1206
Cracker Barrel
CBRL
$1.52B
| $19.3M | 0.01% |
361,583
+297,322
| +463% | +$10.3M |
2013 Q2
52 quarters
|
|
1207
Seadrill
SDRL
$3.19B
| $19.2M | 0.01% |
508,873
+125,137
| +33% | +$5.83M |
2024 Q1
9 quarters
|
|
1208
Rio Tinto
RIO
$139B
| $19.2M | 0.01% |
202,627
+75,483
| +59% | +$7.65M |
2024 Q2
8 quarters
|
|
1209
Safety Insurance
SAFT
$1.53B
| $19.2M | 0.01% |
256,667
-44,357
| -15% | -$3.24M |
2013 Q2
52 quarters
|
|
1210
Coursera
COUR
$1.26B
| $19.1M | 0.01% |
3,390,438
+465,964
| +16% | +$2.65M |
2023 Q3
11 quarters
|
|
1211
Brixmor Property Group
BRX
$8.81B
| $19.1M | 0.01% |
605,894
+142,094
| +31% | +$4.34M |
2015 Q1
45 quarters
|
|
1212
Riley Exploration Permian
REPX
$1.16B
| $19.1M | 0.01% |
579,319
+488,430
| +537% | +$17.4M |
2024 Q2
8 quarters
|
|
1213
Korn Ferry
KFY
$4.26B
| $19.1M | 0.01% |
286,420
+61,799
| +28% | +$4.18M |
2021 Q2
20 quarters
|
|
1214
Univest Financial
UVSP
$1.17B
| $19M | 0.01% |
435,006
+84,068
| +24% | +$3.29M |
2019 Q1
29 quarters
|
|
1215
National Bank Holdings
NBHC
$1.73B
| $18.9M | 0.01% |
425,864
-76,274
| -15% | -$3.22M |
2024 Q1
9 quarters
|
|
1216
Repay Holdings
RPAY
$356M
| $18.9M | 0.01% |
4,498,993
+506,382
| +13% | +$1.76M |
2022 Q4
14 quarters
|
|
1217
Fortis
FTS
$29.5B
| $18.9M | 0.01% |
329,594
+156,941
| +91% | +$8.85M |
2025 Q1
5 quarters
|
|
1218
Diodes
DIOD
$4.08B
| $18.9M | 0.01% |
172,253
-16,119
| -9% | -$1.64M |
2017 Q2
36 quarters
|
|
1219
Braze
BRZE
$5.2B
| $18.8M | 0.01% |
866,318
-39,363
| -4% | -$876K |
2024 Q3
7 quarters
|
|
1220
Zillow
Z
$7.21B
| $18.7M | 0.01% |
617,120
+212,646
| +53% | +$8.17M |
2023 Q3
11 quarters
|
|
1221
Syndax Pharmaceuticals
SNDX
$1.22B
| $18.7M | 0.01% |
853,304
-127,010
| -13% | -$2.64M |
2022 Q1
17 quarters
|
|
1222
iShares MSCI Emerging Markets ETF
EEM
$29B
| $18.5M | 0.01% |
271,002
+120,389
| +80% | +$7.86M |
2023 Q4
10 quarters
|
|
1223
WD-40
WDFC
$2.93B
| $18.5M | 0.01% |
76,079
+5,474
| +8% | +$1.17M |
2023 Q3
11 quarters
|
|
1224
Dycom Industries
DY
$6.94B
| $18.5M | 0.01% |
36,555
-3,072
| -8% | -$1.34M |
2019 Q1
29 quarters
|
|
1225
State Street Financial Select Sector SPDR ETF
XLF
$51.9B
| $18.4M | 0.01% |
343,502
+82,335
| +32% | +$4.28M |
2023 Q2
12 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.