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 | |
|---|---|---|---|---|---|---|
|
AL
326
DELISTED
Air Lease Corp
AL
| $159M | 0.08% |
2,477,264
+193,772
| +8% | +$12.4M |
|
327
MasTec
MTZ
$21.4B
| $159M | 0.08% |
730,979
-169,505
| -19% | -$35.6M |
|
328
Federated Hermes
FHI
$4.76B
| $158M | 0.08% |
3,036,239
+50,067
| +2% | +$2.54M |
|
329
Omega Healthcare
OHI
$14.1B
| $156M | 0.08% |
3,526,759
+539,193
| +18% | +$23.2M |
|
330
Lamar Advertising Co
LAMR
$15.3B
| $156M | 0.08% |
1,237,457
-350,430
| -22% | -$43.9M |
|
331
Republic Services
RSG
$67.6B
| $156M | 0.08% |
736,742
-160,340
| -18% | -$34.5M |
|
332
Aflac
AFL
$58.2B
| $155M | 0.08% |
1,409,114
+145,024
| +11% | +$16M |
|
333
Travel + Leisure Co
TNL
$4.39B
| $154M | 0.08% |
2,182,297
-171,842
| -7% | -$11.3M |
|
334
W.W. Grainger
GWW
$61.8B
| $153M | 0.08% |
151,935
+2,015
| +1% | +$1.95M |
|
335
RenaissanceRe
RNR
$13.4B
| $152M | 0.08% |
541,923
+144,896
| +36% | +$38.1M |
|
|
336
DoorDash
DASH
$96.8B
| $152M | 0.08% |
671,042
-959,305
| -59% | -$225M |
|
337
Aon
AON
$75.3B
| $152M | 0.08% |
430,173
+315,785
| +276% | +$110M |
|
338
Norwegian Cruise Line
NCLH
$7.92B
| $152M | 0.08% |
6,793,256
+6,370,241
| +1,506% | +$135M |
|
339
Allison Transmission
ALSN
$11B
| $151M | 0.08% |
1,542,810
-345,525
| -18% | -$30.3M |
|
340
Flowserve
FLS
$10.1B
| $151M | 0.08% |
2,173,719
-1,056,399
| -33% | -$67.9M |
|
341
Cheniere Energy
LNG
$57.3B
| $151M | 0.08% |
778,491
+80,150
| +11% | +$16.8M |
|
342
Liberty Global Class A
LBTYA
$3.63B
| $150M | 0.08% |
13,423,957
+5,751,520
| +75% | +$63.7M |
|
343
McDonald's
MCD
$192B
| $149M | 0.08% |
488,324
+143,352
| +42% | +$43.9M |
|
344
Jazz Pharmaceuticals
JAZZ
$16.5B
| $149M | 0.08% |
877,267
+178,326
| +26% | +$27.3M |
|
345
State Street
STT
$51.4B
| $148M | 0.08% |
1,150,848
-132,587
| -10% | -$15.9M |
|
346
KeyCorp
KEY
$23.3B
| $148M | 0.08% |
7,163,851
+5,776,417
| +416% | +$108M |
|
347
Crane Co
CR
$12B
| $148M | 0.08% |
799,864
+368,816
| +86% | +$68.4M |
|
348
H&R Block
HRB
$6.62B
| $147M | 0.08% |
3,402,728
+809,438
| +31% | +$37.8M |
|
349
Ford
F
$57.5B
| $147M | 0.08% |
11,177,304
+9,603,267
| +610% | +$124M |
|
350
NNN REIT
NNN
$8.8B
| $146M | 0.08% |
3,692,783
+411,769
| +13% | +$16.9M |
|
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.