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 | |
|---|---|---|---|---|---|---|
501
Motorola Solutions
MSI
$79.4B
| $89.7M | 0.05% |
233,950
-49,152
| -17% | -$19.8M |
|
502
CSX Corp
CSX
$95.3B
| $89M | 0.05% |
2,454,288
-366,702
| -13% | -$13.1M |
|
503
Brunswick
BC
$5.25B
| $88.7M | 0.05% |
1,194,295
+318,465
| +36% | +$21.6M |
|
504
Magna International
MGA
$18.4B
| $88.6M | 0.05% |
1,662,407
+1,645,151
| +9,534% | +$80.4M |
|
505
FirstCash
FCFS
$9.83B
| $88.6M | 0.05% |
555,886
-67,173
| -11% | -$10.6M |
|
506
Gaming and Leisure Properties
GLPI
$12.8B
| $88.5M | 0.05% |
1,981,347
+1,379,425
| +229% | +$61.2M |
|
|
EXE
507
Expand Energy Corp
EXE
$22.3B
| $88.5M | 0.05% |
802,282
-168,389
| -17% | -$18.7M |
|
508
Welltower
WELL
$173B
| $88.5M | 0.05% |
476,749
-376,721
| -44% | -$70.4M |
|
509
Zebra Technologies
ZBRA
$17B
| $88M | 0.05% |
362,587
-206,580
| -36% | -$55.2M |
|
510
Sysco
SYY
$40.1B
| $88M | 0.05% |
1,193,651
+772,099
| +183% | +$58.7M |
|
511
Zions Bancorporation
ZION
$9.91B
| $87.7M | 0.05% |
1,498,610
-1,464,935
| -49% | -$79.8M |
|
512
Macy's
M
$6.11B
| $87.7M | 0.05% |
4,000,339
+1,197,785
| +43% | +$24.5M |
|
513
EQT Corp
EQT
$33.6B
| $87.6M | 0.05% |
1,634,061
+632,590
| +63% | +$35.5M |
|
514
NewMarket
NEU
$8.58B
| $87.2M | 0.05% |
126,931
-11,012
| -8% | -$8.41M |
|
515
Domino's
DPZ
$11.4B
| $86.9M | 0.05% |
208,533
+122,422
| +142% | +$51M |
|
516
Watts Water Technologies
WTS
$12.4B
| $86.8M | 0.05% |
314,323
-11,816
| -4% | -$3.26M |
|
517
Prudential Financial
PRU
$41.9B
| $86.6M | 0.05% |
767,326
+261,549
| +52% | +$28M |
|
518
SiteOne Landscape Supply
SITE
$4.17B
| $86.1M | 0.05% |
691,558
+436,376
| +171% | +$55.3M |
|
519
Boeing
BA
$166B
| $85.9M | 0.05% |
395,749
+59,621
| +18% | +$12.3M |
|
520
Boston Beer
SAM
$1.93B
| $85.9M | 0.05% |
440,224
-206,836
| -32% | -$42.7M |
|
521
A.O. Smith
AOS
$8.45B
| $85.6M | 0.04% |
1,279,356
+617,179
| +93% | +$41.7M |
|
522
Goodyear
GT
$1.7B
| $85.5M | 0.04% |
9,764,853
+5,886,935
| +152% | +$46.4M |
|
523
DuPont de Nemours
DD
$18.4B
| $85.5M | 0.04% |
708,877
-1,015,496
| -59% | -$114M |
|
524
Silicon Laboratories
SLAB
$7.27B
| $85.4M | 0.04% |
653,052
-48,867
| -7% | -$6.42M |
|
525
Ball Corp
BALL
$17B
| $85.2M | 0.04% |
1,608,275
+1,086,060
| +208% | +$53.5M |
|
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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.