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 |
Microsoft
MSFT
|
+$854M |
| 2 |
Walmart Inc
WMT
|
+$758M |
| 3 |
NVIDIA
NVDA
|
+$464M |
| 4 |
PepsiCo
PEP
|
+$462M |
| 5 |
FedEx
FDX
|
+$396M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Fortinet
FTNT
|
+$332M |
| 2 |
Arista Networks
ANET
|
+$319M |
| 3 |
DoorDash
DASH
|
+$252M |
| 4 |
Monster Beverage
MNST
|
+$227M |
| 5 |
Costco
COST
|
+$216M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 24.74% |
| 2 | Financials | 14.8% |
| 3 | Industrials | 12.12% |
| 4 | Healthcare | 11.96% |
| 5 | Consumer Discretionary | 11.91% |
Similar funds
Cliff Asness's Q3 2025 Portfolio in Review
As of Q3 2025, Cliff Asness held 3,631 positions worth $156B, up 29% from $121B the previous quarter. Its ten largest holdings account for 12% of the portfolio.
Cliff Asness deployed $26.6B of net new capital in Q3 2025, opening 339 new positions and adding to 2,078 existing holdings. Its largest new stake was Rubrik: 1,189,403 shares worth $97.8M.
By sector, the portfolio is most concentrated in Technology at 25% of assets, down from 25% a quarter earlier, followed by Financials and Industrials.
On the sell side, the largest reduction was Fortinet, an estimated $332M trimmed.
- Cliff Asness's largest Q3 2025 buy was Rubrik: 1,189,403 shares worth $97.8M.
- Cliff Asness added most to Microsoft in Q3 2025, an estimated $854M increase.
- Cliff Asness's biggest Q3 2025 reduction was Fortinet, cutting an estimated $332M.
- Cliff Asness fully exited Qfin Holdings in Q3 2025, selling an estimated $114M.
- Cliff Asness's ten largest holdings make up 12% of its $156B portfolio in Q3 2025.
- Cliff Asness opened 339 new positions and closed 175 in Q3 2025.
- Cliff Asness's portfolio value rose 29% quarter-over-quarter to $156B.
Based on AQR Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.