Like a cliff.
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AQR Capital Management took advantage of the volatile second half of the first half of 2025, with the hedge fund duo double the S&P 500’s return.
Cliff Asness’ Firm’s Apex strategy combines stocks, macros and arbitration transactions to have $4.3 billion under management, but it raised 11.4% in the first six months of the year, according to anyone familiar with AQR’s returns that demanded that the information be anonymous because it is private.
AQR’s long-term Delphi Equity Fund won a 11.6% commission in the first half of 2025 with $4.1 billion in assets under management.
Despite uncertainty remaining amid an offensive trade war and escalation in the Middle East, the stock market staged an astonishing rebound this year. The S&P 500 was rebounded from a nearly 20% sale in April, winning new record highs on Friday and Monday. Equity benchmarks are up 5.3% per year.
The helix strategy, which will be an alternative trend for AQR, has returned 7.4% so far this year, the person said.
Asness co-founded AQR in 1998 after a stint at Goldman Sachs. He and his partner founded the investment philosophy of Quant-striven Firm with their PhD from the University of Chicago. It focuses on programs, values and momentum strategies.
In recent years, the company has successfully expanded to a MultiStrategy approach. AQR has approximately $99 billion to $100 billion in managed assets at the time of its launch in 2024.
AQR declined to comment.
