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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 | 14.21% |
| 4 | Consumer Discretionary | 10.53% |
| 5 | Healthcare | 10.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1701
Dynex Capital
DX
$2.61B
| $8.13M | ﹤0.01% |
619,846
+270,379
| +77% | +$3.56M |
2024 Q4
6 quarters
|
|
1702
Community Healthcare Trust
CHCT
$423M
| $8.11M | ﹤0.01% |
443,896
+138,066
| +45% | +$2.4M |
2024 Q4
6 quarters
|
|
1703
Orthofix Medical
OFIX
$292M
| $8.11M | ﹤0.01% |
887,282
+698,158
| +369% | +$7.7M |
2014 Q4
46 quarters
|
|
1704
Aspen Aerogels
ASPN
$464M
| $8.09M | ﹤0.01% |
1,276,346
+750,227
| +143% | +$3.68M |
2025 Q1
5 quarters
|
|
1705
QXO Inc
QXO
$13.1B
| $8.07M | ﹤0.01% |
467,279
-48,246
| -9% | -$898K |
2025 Q1
5 quarters
|
|
1706
American Superconductor
AMSC
$1.17B
| $8.07M | ﹤0.01% |
194,477
+9,722
| +5% | +$440K |
2024 Q3
7 quarters
|
|
1707
Vanguard FTSE Europe ETF
VGK
$30.1B
| $8.06M | ﹤0.01% |
91,047
+41,903
| +85% | +$3.67M |
2025 Q3
3 quarters
|
|
1708
VanEck Gold Miners ETF
GDX
$25.2B
| $8.06M | ﹤0.01% |
106,785
+5,899
| +6% | +$521K |
2024 Q4
6 quarters
|
|
1709
Tandem Diabetes Care
TNDM
$1.4B
| $8.06M | ﹤0.01% |
533,837
+201,921
| +61% | +$3.53M |
2024 Q2
8 quarters
|
|
1710
First Internet Bancorp
INBK
$221M
| $8.05M | ﹤0.01% |
289,641
+214,463
| +285% | +$5.2M |
2024 Q3
7 quarters
|
|
1711
PennyMac Financial
PFSI
$3.15B
| $8.03M | ﹤0.01% |
92,167
+41,193
| +81% | +$3.58M |
2019 Q3
27 quarters
|
|
1712
Dr. Reddy's Laboratories
RDY
$12.3B
| $8.01M | ﹤0.01% |
552,705
+107,428
| +24% | +$1.45M |
2013 Q2
52 quarters
|
|
1713
Aldeyra Therapeutics
ALDX
$38.9M
| $7.99M | ﹤0.01% |
3,751,558
+921,683
| +33% | +$1.58M |
2024 Q4
6 quarters
|
|
1714
Pricesmart
PSMT
$5.1B
| $7.98M | ﹤0.01% |
40,826
+3,093
| +8% | +$516K |
2020 Q2
24 quarters
|
|
1715
ESCO Technologies
ESE
$6B
| $7.96M | ﹤0.01% |
22,731
+49
| +0.2% | +$15.3K |
2023 Q3
11 quarters
|
|
1716
AdaptHealth
AHCO
$1.05B
| $7.94M | ﹤0.01% |
761,857
-204,562
| -21% | -$2.28M |
2022 Q3
15 quarters
|
|
1717
Primoris Services
PRIM
$3.64B
| $7.93M | ﹤0.01% |
80,022
-32,032
| -29% | -$4.21M |
2017 Q3
35 quarters
|
|
1718
Mercantile Bank Corp
MBWM
$1.06B
| $7.91M | ﹤0.01% |
137,726
-8,987
| -6% | -$474K |
2021 Q1
21 quarters
|
|
1719
Summit Therapeutics
SMMT
$11.3B
| $7.9M | ﹤0.01% |
542,178
+98,421
| +22% | +$1.75M |
2024 Q2
8 quarters
|
|
1720
DELISTED
LXP Industrial Trust
LXP
| $7.9M | ﹤0.01% |
146,598
+6,466
| +5% | +$333K |
2013 Q2
52 quarters
|
|
1721
Albany International
AIN
$1.94B
| $7.89M | ﹤0.01% |
105,902
+68,460
| +183% | +$4.29M |
2023 Q4
10 quarters
|
|
1722
Viking Therapeutics
VKTX
$3.73B
| $7.84M | ﹤0.01% |
200,958
+188,786
| +1,551% | +$6.1M |
2026 Q1
1 quarter
|
|
1723
Solaris Energy Infrastructure
SEI
$4.43B
| $7.84M | ﹤0.01% |
97,399
-67
| -0.1% | -$4.79K |
2021 Q4
18 quarters
|
|
1724
Xencor
XNCR
$2.78B
| $7.79M | ﹤0.01% |
483,834
+321,419
| +198% | +$4.01M |
2025 Q1
5 quarters
|
|
1725
Adaptive Biotechnologies
ADPT
$4.7B
| $7.78M | ﹤0.01% |
362,916
-122,317
| -25% | -$1.87M |
2022 Q1
17 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.