AQR

투자 논지

AQR Capital Management is a research-led global investment manager founded in 1998. It applies economic theory, empirical evidence, data and technology through systematic processes across long-only equity, liquid alternatives, macro, arbitrage and multi-strategy mandates.

AQR's stated approach is systematic investing grounded in economic theory: develop and test investment insights with data, then implement them through disciplined portfolio construction and risk controls. The platform spans different asset classes, factors, long-only and long/short structures, and client objectives. Firm-level holdings therefore cannot be treated as one discretionary stock-picking portfolio or a uniform view across all client accounts.

투자 스타일

AQR manages strategies with materially different universes, benchmarks, factor exposures, leverage, shorting and implementation. The firm's educational materials describe general investment concepts and do not establish how every strategy or account applies them. A consolidated 13F is a limited filing snapshot, not a complete firm portfolio or a standalone stock recommendation.

리서치 DNA

Systematic investment research combining economic intuition, empirical analysis, data and technology, model development, and disciplined portfolio and trading implementation.

초점

• Economically motivated sources of return across markets and asset classes
• Empirical testing and robustness of investment signals
• Value, momentum, carry and defensive styles
• Portfolio construction, diversification, risk and implementation costs
• Systematic equity opportunities across regions and market capitalizations
• Alternative strategy drivers and market dislocations
• Machine learning, natural language processing and alternative data as research inputs

행동

• Form hypotheses from economic and behavioral-finance explanations
• Test investment signals against historical and cross-market data
• Combine multiple signals and sources of return where appropriate
• Translate research into portfolios with explicit risk and implementation controls
• Adapt models and research as data, technology and market conditions evolve
• Evaluate strategy and client documentation before attributing a general process to a particular mandate

AQR presents its differentiator as applying academic and practitioner research at scale, joining economic reasoning with systematic analysis, technology, and portfolio implementation across a wide range of traditional and alternative strategies.

Seek repeatable investment insights supported by economic intuition and empirical evidence; account for portfolio risks, implementation constraints and strategy-specific objectives rather than treating backtests or factor labels as guarantees.

포트폴리오 DNA

• Systematic security selection and portfolio construction across broad universes
• Single-factor and multi-factor equity implementations
• Long-only, active extension, long/short and market-neutral structures in applicable strategies
• Multi-asset allocation and alternative strategies in macro, managed futures and arbitrage
• Risk, benchmark, liquidity, leverage, tax and client constraints vary by mandate
• Use of derivatives and short positions in certain strategies

AQR describes risk-controlled portfolio construction, but the public firm-level materials do not establish one universal drawdown response or trading rule across mandates.

매도 조건

• Changes in systematic forecasts, signals or factor exposures
• Portfolio risk, benchmark or diversification limits
• Client mandate and investment objective changes
• Rebalancing, liquidity, tax or trading-cost considerations
• Strategy-specific risk controls or market conditions

Holding periods, turnover, concentration and long/short exposures vary substantially among AQR's products and accounts. Form 13F covers only reportable U.S. securities and does not show short positions, all asset classes, transactions within the quarter, or the client mandate behind each holding.

거버넌스

AQR's published firm-level materials emphasize systematic research and client-specific mandates rather than a universal discretionary management-quality screen. Company-level assessment can differ by strategy and model.

AQR states that it has incorporated governance-related signals in its models since inception. Its responsible ownership materials also describe transparency-focused engagement and proxy voting, subject to client instructions and fund-specific policies.

관여 방식 · Transparency-focused engagement and policy-based proxy voting, subject to account mandate

• Engage with selected portfolio companies on transparency-related matters
• Use collaborative engagement where appropriate
• Vote proxies under applicable AQR policy, client instructions and fund guidelines
• Recognize that proxy voting discretion and applicable guidelines can vary across accounts and funds

AQR's ESG materials state that governance-related signals have been part of its models since 1998 and describe transparency-centered engagement. Its July 2025 Proxy Voting Policy outlines different voting approaches depending on fund type, client direction and the applicable account guidelines.

연혁

설립 1998 · AQR is a private investment management firm. This profile does not infer current ownership percentages from its founding history.

1. 1998 · AQR founded in New York City with a multistrategy hedge fund

   Established a systematic, research-led investment platform.

2. 2000 · Launched its first long-only product

   Expanded beyond its initial hedge fund offering.

3. 2004 · Moved headquarters to Greenwich, Connecticut

   Established its current headquarters location.

4. 2009 · Began offering mutual funds

   Made selected alternative strategies available through registered funds.

5. 2012 · Launched its first UCITS funds

   Expanded access to selected strategies for European investors.

6. 2026 · Filed Form 13F-HR for the quarter ended June 30, 2026

   Reported a limited set of reportable U.S. securities as of quarter end; filing does not identify the strategy or client behind each position.

반복 패턴

홀더 해석

• A position persists across multiple quarters and is interpreted with the filing's reporting scope
• The specific AQR fund or mandate holding the security can be verified
• The strategy objective and factor exposures provide context for the position
• Other official portfolio disclosures or stewardship records corroborate the interpretation

Form 13F is a lagged quarter-end report of specified U.S. securities. It omits short positions and many asset classes, does not show transaction timing, and may include positions managed for different strategies or clients. The 2026 Q2 filing should not be read as AQR's complete portfolio or a current buy recommendation.

13F 보유 종목

AQR CAPITAL MANAGEMENT LLC · 보고 기준 Mar 31, 2026 · active 종목 · 평가액 상위 40개 (전체 293개)