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 |
Arista Networks
ANET
|
+$474M |
| 2 |
Snowflake
SNOW
|
+$418M |
| 3 |
General Motors
GM
|
+$395M |
| 4 |
Roblox
RBLX
|
+$378M |
| 5 |
Adobe
ADBE
|
+$377M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SMAR
Smartsheet Inc.
SMAR
|
+$173M |
| 2 |
Progressive
PGR
|
+$158M |
| 3 |
Robinhood
HOOD
|
+$155M |
| 4 |
AbbVie
ABBV
|
+$131M |
| 5 |
Lennar Class A
LEN
|
+$115M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 22.11% |
| 2 | Financials | 16.12% |
| 3 | Healthcare | 13.87% |
| 4 | Consumer Discretionary | 11.39% |
| 5 | Industrials | 11.37% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
351
MGM Resorts International
MGM
$11B
| $76M | 0.08% |
2,611,278
+1,332,313
| +104% | +$44.8M |
|
352
Chipotle Mexican Grill
CMG
$46.7B
| $75.4M | 0.08% |
1,533,656
+24,269
| +2% | +$1.32M |
|
353
Vulcan Materials
VMC
$35.8B
| $75.3M | 0.08% |
330,851
+175,214
| +113% | +$44.5M |
|
354
Kraft Heinz
KHC
$30.3B
| $74.7M | 0.08% |
2,456,342
-184,586
| -7% | -$5.52M |
|
355
Lamar Advertising Co
LAMR
$15.3B
| $74.3M | 0.08% |
659,308
+533,959
| +426% | +$65M |
|
356
Truist Financial
TFC
$61.6B
| $74.2M | 0.08% |
1,841,167
+202,046
| +12% | +$9M |
|
357
Pentair
PNR
$10.3B
| $74.1M | 0.08% |
861,806
-150,058
| -15% | -$14.3M |
|
358
Gen Digital
GEN
$17.3B
| $73.5M | 0.08% |
2,819,922
+449,347
| +19% | +$12.3M |
|
359
Idexx Laboratories
IDXX
$43.9B
| $72.8M | 0.08% |
175,785
+53,106
| +43% | +$23.1M |
|
360
Dropbox
DBX
$7.5B
| $72.7M | 0.07% |
2,789,853
-542,663
| -16% | -$15.8M |
|
361
CF Industries
CF
$19.6B
| $72.1M | 0.07% |
928,701
+492,846
| +113% | +$41.3M |
|
362
Lincoln National
LNC
$8.07B
| $72M | 0.07% |
2,041,928
+935,225
| +85% | +$33.2M |
|
363
S&P Global
SPGI
$127B
| $71.1M | 0.07% |
141,919
+105,515
| +290% | +$53.9M |
|
364
National Fuel Gas
NFG
$7.84B
| $70.8M | 0.07% |
893,866
+59,667
| +7% | +$4.29M |
|
365
Knight Transportation
KNX
$11.7B
| $70.7M | 0.07% |
1,647,150
+1,628,760
| +8,857% | +$84M |
|
366
Ubiquiti
UI
$33.8B
| $70.5M | 0.07% |
232,015
+132,816
| +134% | +$47M |
|
367
Monster Beverage
MNST
$93.6B
| $70.4M | 0.07% |
2,415,752
+434,100
| +22% | +$11.3M |
|
368
Hasbro
HAS
$13.2B
| $69.8M | 0.07% |
1,154,808
+101,845
| +10% | +$6.16M |
|
369
NVR
NVR
$16.9B
| $69.8M | 0.07% |
9,730
-9,834
| -50% | -$74.8M |
|
370
Vertex Pharmaceuticals
VRTX
$139B
| $69.6M | 0.07% |
145,871
-99,914
| -41% | -$46.6M |
|
371
Williams-Sonoma
WSM
$28B
| $69.5M | 0.07% |
446,704
+68,211
| +18% | +$13.2M |
|
372
Hancock Whitney
HWC
$6.05B
| $69M | 0.07% |
1,335,997
+14,717
| +1% | +$828K |
|
373
lululemon athletica
LULU
$13.7B
| $69M | 0.07% |
243,921
+101,338
| +71% | +$37.2M |
|
374
Oracle
ORCL
$422B
| $68.6M | 0.07% |
500,496
-526,790
| -51% | -$85.8M |
|
|
JHG
375
DELISTED
Janus Henderson
JHG
| $68.4M | 0.07% |
1,926,206
+155,059
| +9% | +$6.39M |
|
Similar funds
Cliff Asness's Q1 2025 Portfolio in Review
As of Q1 2025, Cliff Asness held 3,234 positions worth $97.1B, up 25% from $77.6B the previous quarter. Its ten largest holdings account for 12% of the portfolio.
Cliff Asness deployed $24.4B of net new capital in Q1 2025, opening 374 new positions and adding to 1,828 existing holdings. Its largest new stake was Millrose Properties Inc: 1,839,302 shares worth $48.4M.
By sector, the portfolio is most concentrated in Technology at 22% of assets, down from 25% a quarter earlier, followed by Financials and Healthcare.
On the sell side, the largest reduction was Progressive, an estimated $158M trimmed.
- Cliff Asness's largest Q1 2025 buy was Millrose Properties Inc: 1,839,302 shares worth $48.4M.
- Cliff Asness added most to Arista Networks in Q1 2025, an estimated $474M increase.
- Cliff Asness's biggest Q1 2025 reduction was Progressive, cutting an estimated $158M.
- Cliff Asness fully exited Smartsheet Inc. in Q1 2025, selling an estimated $173M.
- Cliff Asness's ten largest holdings make up 12% of its $97.1B portfolio in Q1 2025.
- Cliff Asness opened 374 new positions and closed 84 in Q1 2025.
- Cliff Asness's portfolio value rose 25% quarter-over-quarter to $97.1B.
Based on AQR Capital Management's 13F filing for Q1 2025, filed 15 May 2025.