
Cliff Asness’ AQR sees multiple hedge funds up double digits in 2025, beating the market
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The Apex strategy from Cliff Asness' firm combines stocks, macro and arbitrage trades.
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July 1, 2025
04:50 PM
CNBC
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AQR Capital Management's Apex strategy rallied 11. 4% in the first six months of the year, according to a person familiar with the fund's returns
AQR's long-short Delphi equity fund gained 11. 6% net of fees in the first half of 2025, the person said
Its alternative trend-ing Helix strategy has returned 7. 4% so far this year, the person said
Chris Goodney | Bloomberg | Getty ImagesAQR Capital Management took advantage of a volatile first half of 2025, with a duo of hedge funds doubling the S&P 500's return
The Apex strategy from Cliff Asness' firm, which combines stocks, macro and arbitrage trades and has $4. 3 billion in assets under management, rallied 11. 4% in the first six months of the year, according to a person familiar with AQR's returns who asked to be anonymous as the information is private
AQR's long-short Delphi equity fund, with $4. 1 billion in assets under management, gained 11. 6% net of fees in the first half of 2025, the person said
The stock market staged a stunning rebound this year even as uncertainty remains amid an aggressive trade war and Middle East escalation
The S&P 500 has rebounded from a near 20% sell-off in April, going on to score a record high on Friday and again on Monday
The equity benchmark is up 5. 3% year to date
AQR's alternative trend-ing Helix strategy 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 partners established the quant-driven firm's investment philosophy at the University of Chicago's Ph
Gram, focusing on value and momentum strategies
The firm has successfully expanded into multistrategy apaches in recent years
AQR has $142 billion in assets under management, up from $99 billion at the start of 2024
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