Variant discovery in personal, whole genome sequence data is critical for uncovering the genetic contributions to health and disease. We introduce a new approach, Aquila, that uses linked-read data for generating a high quality diploid genome assembly, from which it then comprehensively detects and phases personal genetic variation. Assemblies cover >95% of the human reference genome, with over 98% in a diploid state. Thus, the assemblies support detection and accurate genotyping of the most prevalent types of human genetic variation, including single nucleotide polymorphisms (SNPs), small insertions and deletions (small indels), and structural variants (SVs), in all but the most difficult regions. All heterozygous variants are phased in blocks that can approach arm-level length. The final output of Aquila is a diploid and phased personal genome sequence, and a phased VCF file that also contains homozygous and a few unphased heterozygous variants. Aquila represents a cost-effective evolution of wholegenome reconstruction that can be applied to cohorts for variation discovery or association studies, or to single individuals with rare phenotypes that could be caused by SVs or compound heterozygosity. Stancu et al. 2017). However, the drawback of both approaches is that they exhibit poor basepair level accuracy, leading to high error rates for SNPs and imprecise breakpoint estimation for small indels and SVs. A widely applied solution has been to supplement long reads with higher quality short read data, but these ensemble approaches are difficult to scale to larger cohorts due to the complexity of data generation, integration, and analysis, and have therefore been limited to small sample sizes in proof-of-principle studies (Rhoads and Au, 2015; Fan et al., 2017). A solution to making long reads more accurate is to sequence the same single molecule multiple times to reduce error, for example as implemented in the PacBio circular consensus sequencing (CCS) approach (Travers et al. 2010;Larsen et al. 2014;Wenger et al. 2019).However, CCS requires several-fold oversampling of the same molecule, a currently expensive proposition for anything but small sample sizes.