AQR Capital Management
AQR Capital Management, founded by Cliff Asness, David Kabiller, Robert Krail, and John Liew, is a global investment management firm known for its quantitative-based approach to investing. The firm integrates financial theory with practical insights and robust computing power, focusing on delivering long-term risk-adjusted returns through a variety of strategies that include both traditional and alternative investments. AQR's philosophy emphasizes diversification, disciplined risk management, and the systematic application of cutting-edge research.
AUM figures shown are calculated by summing the reported market value of all positions in SEC 13F-HR filings — not the fund's actual assets under management.
- Excludes cash, bonds, private equity, short positions, and foreign-listed stocks not required to be reported.
- For PUT and CALL options, the reported Value is the notional value of the underlying shares — not the option premium paid. This significantly overstates the actual capital at risk.
- Actual fund AUM is typically higher and includes strategies, instruments, and positions that never appear in a 13F.
- 13F filings cover institutional managers with ≥$100M in 13F securities. Positions reflect end-of-quarter holdings, disclosed up to 45 days after the period ends.
Data sourced from SEC EDGAR. This tracker is for informational purposes only and does not constitute investment advice.
Portfolio Holdings
Top 30 positions
| Ticker | Issuer | Notional | Port % | @ Filing | Now (EOD) | Since Filing | Allocation |
|---|---|---|---|---|---|---|---|
| NVDA | $5.46B | 2.50% | $174.40 | $196.35 | +12.6% | 2.5% | |
| MSFT | $3.68B | 1.69% | $369.37 | $390.43 | +5.7% | 1.7% | |
| AAPL | $3.63B | 1.66% | $253.56 | $311.69 | +22.9% | 1.7% | |
| AMZN | $1.96B | 0.90% | $208.27 | $245.78 | +18.0% | 0.9% | |
| AVGO | $1.87B | 0.85% | $309.02 | $367.85 | +19.0% | 0.8% | |
| BMY | $1.80B | 0.82% | $59.36 | $57.88 | -2.5% | 0.8% | |
| GOOGL | $1.62B | 0.74% | $287.39 | $368.87 | +28.4% | 0.7% | |
| EIX | $1.51B | 0.69% | $72.31 | $75.98 | +5.1% | 0.7% | |
| PCG | $1.50B | 0.69% | $17.52 | $17.22 | -1.7% | 0.7% | |
| GOOG | $1.50B | 0.68% | $286.69 | $365.60 | +27.5% | 0.7% | |
| FIX | $1.49B | 0.68% | $1378.45 | $1667.21 | +20.9% | 0.7% | |
| MU | $1.47B | 0.67% | $337.79 | $911.16 | +169.7% | 0.7% | |
| BKNG | $1.32B | 0.60% | $167.99 | $181.73 | +8.2% | 0.6% | |
| GEV | $1.27B | 0.58% | $872.45 | $1063.23 | +21.9% | 0.6% | |
| CB | $1.25B | 0.57% | $324.92 | $361.66 | +11.3% | 0.6% | |
| FTI | $1.23B | 0.56% | $69.08 | $68.34 | -1.1% | 0.6% | |
| WMT | $1.19B | 0.54% | $124.04 | $111.64 | -10.0% | 0.5% | |
| GE | $1.10B | 0.51% | $283.42 | $365.48 | +28.9% | 0.5% | |
| CNC | $1.09B | 0.50% | $32.74 | $65.88 | +101.2% | 0.5% | |
| FDX | $1.06B | 0.49% | $285.94 | $310.98 | +8.8% | 0.5% | |
| META | $1.04B | 0.48% | $571.60 | $620.21 | +8.5% | 0.5% | |
| MRK | $1.04B | 0.48% | $119.43 | $128.65 | +7.7% | 0.5% | |
| GM | $1.03B | 0.47% | $74.34 | $76.10 | +2.4% | 0.5% | |
| COST | $1.02B | 0.47% | $994.99 | $948.35 | -4.7% | 0.5% | |
| ADBE | $1.02B | 0.47% | $243.08 | $223.50 | -8.1% | 0.5% | |
| ABNB | $997.4M | 0.46% | $126.28 | $148.59 | +17.7% | 0.5% | |
| TJX | $951.8M | 0.44% | $159.18 | $152.74 | -4.0% | 0.4% | |
| ANET | $950.2M | 0.44% | $122.78 | $165.00 | +34.4% | 0.4% | |
| REGN | $946.0M | 0.43% | $771.49 | $673.63 | -12.7% | 0.4% | |
| VRSN | $931.9M | 0.43% | $247.70 | $265.97 | +7.4% | 0.4% |
Quarter-on-Quarter Activity
Q1 2026 vs. Q4 2025
New Positions (8)
| Ticker | Issuer | Notional |
|---|---|---|
| PNFP | $339.6M | |
| VSNT | $211.3M | |
| AZN | $71.9M | |
| QDF | $43.9M | |
| FRO | $26.8M | |
| SUNB | $23.1M | |
| AUGO | $20.5M | |
| BULL | $16.0M |
Exited Positions (8)
| Ticker | Issuer | Notional |
|---|---|---|
| PNFP | $508.6M | |
| EXAS | $226.4M | |
| CFLT | $196.1M | |
| SNV | $102.0M | |
| DAY | $98.7M | |
| CIVI | $45.1M | |
| AMCR | $35.4M | |
| REVG | $21.6M |
Increased (8)
| Ticker | Issuer | Notional | Shares Δ |
|---|---|---|---|
| PLNT | $85.2M | +14340.4% | |
| LCID | $20.8M | +7103.1% | |
| HUMA | $1.1M | +5590.3% | |
| CCC | $63.3M | +5357.6% | |
| RZLV | $2.2M | +4362.3% | |
| DDD | $0.9M | +4314.4% | |
| CRCL | $35.5M | +4100.0% | |
| SFD | $30.0M | +4005.1% |
Trimmed (8)
| Ticker | Issuer | Notional | Shares Δ |
|---|---|---|---|
| RDDT | $-47.4M | -95.6% | |
| TFX | $-217.1M | -92.3% | |
| WFG | $-4.5M | -91.8% | |
| NCLH | $-134.8M | -86.5% | |
| DUOL | $-125.1M | -85.8% | |
| EFC | $-2.1M | -85.7% | |
| PSN | $-21.0M | -84.7% | |
| GWRE | $-232.8M | -83.6% |
Quarter Activity
During the quarter, AQR Capital Management initiated new positions in PNFP, VSNT, and AZN, with the largest new stake being in PNFP valued at $340 million. The fund also exited several positions, including PNFP, EXAS, and CFLT, with the largest exit being PNFP at $509 million. Notably, the fund increased its holdings significantly in PLNT and LCID, while reducing its stakes in RDDT and TFX.
AI Commentary
<p>AQR Capital Management's portfolio showcases a strong concentration in the technology and healthcare sectors, with top holdings including NVIDIA CORPORATION (NVDA) at $5,463M (2.5% of AUM), MICROSOFT CORP (MSFT) at $3,684M (1.7%), and APPLE INC (AAPL) at $3,631M (1.7%). Other significant investments include AMAZON COM INC (AMZN) and BROADCOM INC (AVGO), emphasizing the fund's focus on major tech firms. Additionally, the presence of BRISTOL-MYERS SQUIBB CO (BMY) highlights a substantial investment in the pharmaceutical sector.</p> <p>The recent quarter's activity indicates a strategic shift in AQR Capital Management's investment approach. The closure of positions in PNFP, EXAS, and CFLT, alongside the opening of new positions in PNFP, VSNT, and AZN, suggests a nuanced rebalancing, possibly aiming at optimizing sector exposure or responding to market dynamics. Notably, the dramatic increases in holdings of PLNT and LCID by 14340% and 7103% respectively, signal a bullish stance on these entities, potentially due to favorable industry trends or company-specific factors. Conversely, significant reductions in RDDT and TFX by 96% and 92% indicate a retreat from these investments, possibly due to underperformance or sector realignment.</p>