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Cliff Asness AQR Capital Management

AUM $287B
1-Year Est. Return 42.33%
 

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.

This Fund
S&P 500
This Quarter Est. Return
+4.84%
1 Year Est. Return
+42.33%
3 Year Est. Return
+119.89%
5 Year Est. Return
+147.33%
10 Year Est. Return
+543.74%
AUM
$191B
AUM Growth
+$34.6B
Cap. Flow
+$29.9B
Cap. Flow %
15.69%
Top 10 Hldgs %
11.5%
Holding
3,667
New
211
Increased
2,098
Reduced
1,163
Closed
105

Top Buys

Rank Stock Value
1
TEAM icon
Atlassian
TEAM
+$905M
2
BMY icon
Bristol-Myers Squibb
BMY
+$786M
3
NVDA icon
NVIDIA
NVDA
+$736M
4
CNC icon
Centene
CNC
+$642M
5
AAPL icon
Apple
AAPL
+$451M

Top Sells

Rank Stock Value
1
MOH icon
Molina Healthcare
MOH
+$415M
2
INTC icon
Intel
INTC
+$329M
3
GM icon
General Motors
GM
+$237M
4
DASH icon
DoorDash
DASH
+$225M
5
INTU icon
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
INDI icon
3301
indie Semiconductor
INDI
$877M
$226K ﹤0.01%
63,983
+19,882
+45% +$87.2K
KT icon
3302
KT
KT
$9B
$226K ﹤0.01%
+11,902
New +$222K
NKSH icon
3303
National Bankshares
NKSH
$262M
$225K ﹤0.01%
6,704
-135
-2% -$4.09K
PDLB icon
3304
Ponce Financial Group
PDLB
$494M
$225K ﹤0.01%
+13,745
New +$212K
NC icon
3305
NACCO Industries
NC
$309M
$225K ﹤0.01%
+4,579
New +$211K
SQM icon
3306
Sociedad Química y Minera de Chile
SQM
$23.4B
$224K ﹤0.01%
+3,256
New +$179K
IMCG icon
3307
iShares Morningstar Mid-Cap Growth ETF
IMCG
$4.11B
$223K ﹤0.01%
2,797
+273
+11% +$22.2K
DEM icon
3308
WisdomTree Emerging Markets High Dividend Fund
DEM
$4.12B
$222K ﹤0.01%
4,761
-1,377
-22% -$63.7K
NODK icon
3309
NI Holdings
NODK
$312M
$222K ﹤0.01%
16,708
+1,128
+7% +$15.2K
COFS icon
3310
Choiceone Financial
COFS
$496M
$222K ﹤0.01%
+7,511
New +$222K
KWEB icon
3311
KraneShares CSI China Internet ETF
KWEB
$5.28B
$222K ﹤0.01%
6,508
+1,146
+21% +$44.1K
EYPT icon
3312
EyePoint Inc
EYPT
$459M
$222K ﹤0.01%
+12,127
New +$172K
KMTS
3313
Kestra Medical Technologies
KMTS
$1.58B
$221K ﹤0.01%
+8,340
New +$215K
BSJQ icon
3314
Invesco BulletShares 2026 High Yield Corporate Bond ETF
BSJQ
$833M
$220K ﹤0.01%
9,446
-153
-2% -$3.58K
HRZN icon
3315
Horizon Technology Finance
HRZN
$323M
$220K ﹤0.01%
34,164
-737
-2% -$4.71K
PCYO icon
3316
Pure Cycle
PCYO
$273M
$220K ﹤0.01%
20,007
+2,004
+11% +$22.4K
FLXS icon
3317
Flexsteel Industries
FLXS
$332M
$219K ﹤0.01%
5,554
-2,505
-31% -$97.7K
GLIBA
3318
Liberty Capital Corp Series A GCI Group Common Stock
GLIBA
$1.04B
$219K ﹤0.01%
+5,945
New +$209K
FREL icon
3319
Fidelity MSCI Real Estate Index ETF
FREL
$1.49B
$219K ﹤0.01%
8,142
+51
+0.6% +$1.39K
BFEB icon
3320
Innovator US Equity Buffer ETF February
BFEB
$262M
$219K ﹤0.01%
4,497
– –
ERII icon
3321
Energy Recovery
ERII
$403M
$218K ﹤0.01%
16,177
-9,547
-37% -$145K
SEPN
3322
Septerna Inc
SEPN
$1.87B
$218K ﹤0.01%
+7,826
New +$187K
TTEC icon
3323
TTEC Holdings
TTEC
$67.5M
$218K ﹤0.01%
60,604
+19,088
+46% +$64.9K
NEXT icon
3324
NextDecade
NEXT
$1.9B
$217K ﹤0.01%
41,241
+21,566
+110% +$129K
ASUR icon
3325
Asure Software
ASUR
$252M
$217K ﹤0.01%
23,034
+189
+0.8% +$1.59K
131 132
133
134 135

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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.