AQR Q1 2026 Preview: A $190.6B Quant Giant Just Added 69 New Positions
AQR’s Q4 2025 filing kept expanding, with AUM rising to $190.63B, 69 new names, and a dramatic Bristol Myers build inside an already broad book. The next filing will show whether the quant giant keeps pressing this expansion or starts normalizing the roster again.
AQR CAPITAL MANAGEMENT LLC is one of the few filers where breadth itself is the signal. Q4 2025 pushed disclosed 13F AUM to about $190.63B, kept NVDA on top, and added 69 new positions while still increasing several mega-cap growth names. Ahead of May 15, 2026, the key question is whether this expanding quant book keeps broadening or starts to consolidate.
TL;DR
- AUM kept climbing: the disclosed book reached about $190.63B.
- AI winners stayed central: NVDA, AAPL, and AMZN were all still large and mostly rising exposures.
- The single-stock tell: BMY was one of the most dramatic share increases in the filing.
- Roster churn was real: AQR added 69 names and exited 69 others in the 500-name slice.
- Q1 watch: does this remain a broadening book, or does the roster turn defensive again?
AQR CAPITAL MANAGEMENT LLC Top Holdings — 2025Q4 ($M)
Why This Filing Matters
AQR is useful because it gives readers a live read on how a giant systematic platform is balancing momentum, liquidity and breadth. A quarter with dozens of new positions is not noise when it happens alongside continued exposure to NVDA, AAPL, and AMZN. It suggests the firm was still willing to carry a pro-risk stance while diversifying at the same time.
Visible Signals In The Latest Filing
| Position | Value | Weight | Why it matters |
|---|---|---|---|
| NVDA | $4.89B | 3.04% | Nvidia became the top disclosed position, which shows AQR was still willing to stay with the AI winners even after a huge run. |
| AAPL | $3.40B | 2.11% | Apple remained a large liquid core holding inside a very broad book. |
| AMZN | $2.06B | 1.28% | Amazon was one of the big-cap names AQR continued to add to rather than fade. |
| BMY | $1.39B | 0.86% | Bristol Myers was the standout individual add, with shares up sharply quarter over quarter. |
| TEAM | $1.26B | 0.78% | Atlassian was another major increase and shows how much the book was willing to re-open growth exposure. |
AQR CAPITAL MANAGEMENT LLC Top 5 vs Rest Concentration — 2025Q4
What Q4 2025 Set Up
The top of the filing still looks recognizable: NVDA, AAPL, MSFT, and AMZN anchor the disclosed book. But the more interesting part is beneath that layer. BMY jumped sharply, TEAM expanded, and the book kept recycling capital across a long list of new and exited positions. That combination makes AQR one of the cleaner “shape of the market” watchlists for the next cycle.
AQR CAPITAL MANAGEMENT LLC AUM History
Questions For Q1 2026
Do the AI leaders stay on top?
If NVDA and the other mega-cap leaders remain near the top, AQR will still read as a book comfortable with the dominant winners.
Was Bristol Myers a one-quarter mean reversion trade?
If BMY shrinks back quickly, Q4 will look tactical. If it stays large, the position deserves more attention.
Does the roster keep churning this fast?
Another quarter of very high new-position count would reinforce that AQR still sees a wide opportunity set rather than a narrow mega-cap tape.
Bottom Line
AQR’s next filing matters because it can confirm whether Q4 2025 was a genuine expansion phase. If the book keeps rising in size and keeps broad participation under the hood, the quant message stays constructive. If the churn slows and the roster compresses, the tone shifts quickly.
Q&A
When is AQR’s next 13F due?
AQR’s next 13F is due on May 15, 2026.
What stood out most in Q4 2025?
The combination of 69 new positions and a very large Bristol Myers increase stood out the most.
Why track AQR at all?
Because a giant systematic manager can show whether the market is broadening, narrowing, or rotating under the surface even when index headlines look simple.
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