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 |
Atlassian
TEAM
|
+$905M |
| 2 |
Bristol-Myers Squibb
BMY
|
+$786M |
| 3 |
NVIDIA
NVDA
|
+$736M |
| 4 |
Centene
CNC
|
+$642M |
| 5 |
Apple
AAPL
|
+$451M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Molina Healthcare
MOH
|
+$415M |
| 2 |
Intel
INTC
|
+$329M |
| 3 |
General Motors
GM
|
+$237M |
| 4 |
DoorDash
DASH
|
+$225M |
| 5 |
Intuit
INTU
|
+$187M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 23.3% |
| 2 | Financials | 15.19% |
| 3 | Healthcare | 12.58% |
| 4 | Consumer Discretionary | 12.42% |
| 5 | Industrials | 12.23% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
2501
Sierra Bancorp
BSRR
$510M
| $1.08M | ﹤0.01% |
33,031
-2,243
| -6% | -$67.9K |
|
|
MRSN
2502
DELISTED
Mersana Therapeutics
MRSN
| $1.08M | ﹤0.01% |
37,264
-9,456
| -20% | -$180K |
|
2503
Parke Bancorp
PKBK
$399M
| $1.08M | ﹤0.01% |
42,942
+5,316
| +14% | +$120K |
|
|
ESPR
2504
DELISTED
Esperion Therapeutics
ESPR
| $1.07M | ﹤0.01% |
290,514
+5,608
| +2% | +$18.1K |
|
|
FVR
2505
FrontView REIT
FVR
$488M
| $1.07M | ﹤0.01% |
72,812
+20,655
| +40% | +$297K |
|
2506
Ryan Specialty Holdings
RYAN
$11.2B
| $1.07M | ﹤0.01% |
20,809
+6,076
| +41% | +$333K |
|
2507
Compass Diversified
CODI
$863M
| $1.07M | ﹤0.01% |
223,747
-522,619
| -70% | -$3.3M |
|
2508
Amprius Technologies
AMPX
$1.5B
| $1.07M | ﹤0.01% |
136,099
+4,588
| +3% | +$52.5K |
|
2509
BrightView Holdings
BV
$1.03B
| $1.07M | ﹤0.01% |
84,089
-55,977
| -40% | -$711K |
|
2510
Establishment Labs
ESTA
$2.14B
| $1.07M | ﹤0.01% |
14,615
-6,521
| -31% | -$394K |
|
|
MITT
2511
TPG Mortgage Investment Trust
MITT
$212M
| $1.06M | ﹤0.01% |
124,719
+28,416
| +30% | +$223K |
|
2512
Paymentus
PAY
$4.82B
| $1.06M | ﹤0.01% |
33,601
+13,475
| +67% | +$439K |
|
2513
Invesco S&P 500 Top 50 ETF
XLG
$10.9B
| $1.06M | ﹤0.01% |
17,890
+5,545
| +45% | +$326K |
|
2514
Boyd Gaming
BYD
$5.88B
| $1.06M | ﹤0.01% |
12,439
+1,151
| +10% | +$94.8K |
|
2515
Weave Communications
WEAV
$583M
| $1.06M | ﹤0.01% |
139,550
+125,396
| +886% | +$833K |
|
2516
Celcuity
CELC
$4.6B
| $1.06M | ﹤0.01% |
10,618
+3,749
| +55% | +$308K |
|
|
LADR
2517
Ladder Capital
LADR
$1.26B
| $1.06M | ﹤0.01% |
96,086
-78,795
| -45% | -$856K |
|
2518
Pool Corp
POOL
$6.75B
| $1.06M | ﹤0.01% |
4,616
-563
| -11% | -$146K |
|
2519
Kontoor Brands
KTB
$4.43B
| $1.05M | ﹤0.01% |
17,202
-682
| -4% | -$50.6K |
|
2520
Tilray
TLRY
$662M
| $1.05M | ﹤0.01% |
116,213
+9,557
| +9% | +$117K |
|
2521
Southern California Bancorp
BCAL
$685M
| $1.05M | ﹤0.01% |
56,136
+17,863
| +47% | +$328K |
|
2522
PIMCO Active Bond Exchange-Traded Fund
BOND
$8.6B
| $1.05M | ﹤0.01% |
11,259
+3,987
| +55% | +$373K |
|
|
TTAM
2523
Titan America SA
TTAM
$2.82B
| $1.05M | ﹤0.01% |
63,592
+8,511
| +15% | +$133K |
|
2524
BlueLinx
BXC
$643M
| $1.05M | ﹤0.01% |
17,052
-2,641
| -13% | -$171K |
|
2525
Aspen Aerogels
ASPN
$430M
| $1.05M | ﹤0.01% |
369,949
+192,144
| +108% | +$991K |
|
Similar funds
Cliff Asness's Q4 2025 Portfolio in Review
As of Q4 2025, Cliff Asness held 3,667 positions worth $191B, up 22% from $156B the previous quarter. Its ten largest holdings account for 12% of the portfolio.
Cliff Asness deployed $29.9B of net new capital in Q4 2025, opening 211 new positions and adding to 2,098 existing holdings. Its largest new stake was Celestica: 1,066,543 shares worth $315M.
By sector, the portfolio is most concentrated in Technology at 23% of assets, down from 25% a quarter earlier, followed by Financials and Healthcare.
On the sell side, the largest reduction was Molina Healthcare, an estimated $415M trimmed.
- Cliff Asness's largest Q4 2025 buy was Celestica: 1,066,543 shares worth $315M.
- Cliff Asness added most to Atlassian in Q4 2025, an estimated $905M increase.
- Cliff Asness's biggest Q4 2025 reduction was Molina Healthcare, cutting an estimated $415M.
- Cliff Asness fully exited Light & Wonder in Q4 2025, selling an estimated $70.7M.
- Cliff Asness's ten largest holdings make up 12% of its $191B portfolio in Q4 2025.
- Cliff Asness opened 211 new positions and closed 105 in Q4 2025.
- Cliff Asness's portfolio value rose 22% quarter-over-quarter to $191B.
Based on AQR Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.