Cliff Asness AQR Capital Management
Cliff Asness is a co-founder of AQR Capital Management, a leading quantitative investment firm spanning equities, alternatives, and factor strategies. He is known for academic-informed research on value, momentum, and other systematic premia, as well as candid market commentary. Asness’s work bridges academic finance and large-scale institutional portfolio management.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$523M |
| 2 |
Merck
MRK
|
+$243M |
| 3 |
Tesla
TSLA
|
+$188M |
| 4 |
Adobe
ADBE
|
+$159M |
| 5 |
Infosys
INFY
|
+$150M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$143M |
| 2 |
Cigna
CI
|
+$133M |
| 3 |
Delta Air Lines
DAL
|
+$121M |
| 4 |
Walt Disney
DIS
|
+$120M |
| 5 |
Cisco
CSCO
|
+$113M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 24.8% |
| 2 | Financials | 15.9% |
| 3 | Healthcare | 13.33% |
| 4 | Consumer Discretionary | 11.85% |
| 5 | Industrials | 11.5% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
McDonald's
MCD
$192B
| $90.8M | 0.12% |
313,139
-48,025
| -13% | -$14.3M |
|
|
227
Walt Disney
DIS
$186B
| $90.4M | 0.12% |
811,981
-1,145,772
| -59% | -$120M |
|
228
Intel
INTC
$476B
| $90.1M | 0.12% |
4,495,876
+3,561,351
| +381% | +$80.3M |
|
229
Applovin
APP
$102B
| $89.9M | 0.12% |
277,720
-169,417
| -38% | -$42.9M |
|
230
Assured Guaranty
AGO
$3.27B
| $89.8M | 0.12% |
997,622
+13,552
| +1% | +$1.19M |
|
231
Workday
WDAY
$49.4B
| $89.2M | 0.11% |
345,604
+72,658
| +27% | +$18.6M |
|
232
First Horizon
FHN
$11.7B
| $88.8M | 0.11% |
4,406,694
-306,173
| -6% | -$5.76M |
|
233
Snap-on
SNA
$20.3B
| $88.2M | 0.11% |
259,911
-94,817
| -27% | -$32M |
|
234
Popular Inc
BPOP
$10.8B
| $88.2M | 0.11% |
937,274
+24,842
| +3% | +$2.38M |
|
235
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$46.8B
| $88.1M | 0.11% |
963,468
+867,747
| +907% | +$79.5M |
|
|
MRSH
236
Marsh
MRSH
$91.6B
| $88.1M | 0.11% |
414,657
+41,337
| +11% | +$9.17M |
|
237
Teradata
TDC
$2.58B
| $88M | 0.11% |
2,839,658
+416,585
| +17% | +$13M |
|
238
MSCI
MSCI
$41B
| $87M | 0.11% |
144,977
+50,997
| +54% | +$30.6M |
|
239
Waste Management
WM
$89.6B
| $86.8M | 0.11% |
430,367
-54,214
| -11% | -$11.6M |
|
240
Alaska Air
ALK
$4.51B
| $86.6M | 0.11% |
1,338,146
-723,106
| -35% | -$38M |
|
241
Danaher
DHR
$154B
| $86.5M | 0.11% |
376,906
+15,537
| +4% | +$3.82M |
|
|
CTRA
242
DELISTED
Coterra Energy
CTRA
| $85.9M | 0.11% |
3,363,838
+577,870
| +21% | +$14.4M |
|
243
Pinduoduo
PDD
$126B
| $85.7M | 0.11% |
884,082
+35,036
| +4% | +$4.08M |
|
244
Pilgrim's Pride
PPC
$7.68B
| $85.5M | 0.11% |
1,883,708
+576,438
| +44% | +$28.1M |
|
245
American International
AIG
$39.8B
| $85.4M | 0.11% |
1,172,495
-382,999
| -25% | -$28.8M |
|
246
BioMarin Pharmaceuticals
BMRN
$12.9B
| $84.4M | 0.11% |
1,283,599
+685,099
| +114% | +$45.9M |
|
247
UiPath
PATH
$8.49B
| $84.2M | 0.11% |
6,646,320
+2,072,089
| +45% | +$27.4M |
|
248
Texas Pacific Land
TPL
$26.5B
| $84.2M | 0.11% |
228,357
+10,296
| +5% | +$4.21M |
|
249
IQVIA
IQV
$42.8B
| $84M | 0.11% |
427,244
+237,597
| +125% | +$50.1M |
|
250
Trimble
TRMB
$14B
| $82.7M | 0.11% |
1,170,059
-291,745
| -20% | -$19.8M |
|
Similar funds
Cliff Asness's Q4 2024 Portfolio in Review
As of Q4 2024, Cliff Asness held 3,002 positions worth $77.6B, up 7.2% from $72.4B the previous quarter. Its ten largest holdings account for 15% of the portfolio.
Cliff Asness deployed $4.38B of net new capital in Q4 2024, opening 251 new positions and adding to 1,435 existing holdings. Its largest new stake was iShares Russell 2000 Value ETF: 98,982 shares worth $16.2M.
By sector, the portfolio is most concentrated in Technology at 25% of assets, up from 24% a quarter earlier, followed by Financials and Healthcare.
On the sell side, the largest reduction was Alphabet (Google) Class A, an estimated $143M trimmed.
- Cliff Asness's largest Q4 2024 buy was iShares Russell 2000 Value ETF: 98,982 shares worth $16.2M.
- Cliff Asness added most to Apple in Q4 2024, an estimated $523M increase.
- Cliff Asness's biggest Q4 2024 reduction was Alphabet (Google) Class A, cutting an estimated $143M.
- Cliff Asness fully exited Marathon Oil Corporation in Q4 2024, selling an estimated $5.41M.
- Cliff Asness's ten largest holdings make up 15% of its $77.6B portfolio in Q4 2024.
- Cliff Asness opened 251 new positions and closed 141 in Q4 2024.
- Cliff Asness's portfolio value rose 7.2% quarter-over-quarter to $77.6B.
Based on AQR Capital Management's 13F filing for Q4 2024, filed 14 Feb 2025.