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 |
Monster Beverage
MNST
|
+$345M |
| 2 |
PNC Financial Services
PNC
|
+$325M |
| 3 |
Edison International
EIX
|
+$249M |
| 4 |
Veeva Systems
VEEV
|
+$241M |
| 5 |
Expedia Group
EXPE
|
+$239M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ConocoPhillips
COP
|
+$300M |
| 2 |
Comcast
CMCSA
|
+$255M |
| 3 |
Airbnb
ABNB
|
+$201M |
| 4 |
Alnylam Pharmaceuticals
ALNY
|
+$177M |
| 5 |
Eli Lilly
LLY
|
+$171M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25% |
| 2 | Financials | 15.05% |
| 3 | Consumer Discretionary | 12.44% |
| 4 | Healthcare | 12.08% |
| 5 | Industrials | 11.95% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
926
Adient
ADNT
$1.46B
| $11.3M | 0.01% |
581,242
+342,329
| +143% | +$5.06M |
|
927
Franklin Templeton
BEN
$17.6B
| $11.2M | 0.01% |
469,349
-502,100
| -52% | -$10.3M |
|
|
SEE
928
DELISTED
Sealed Air
SEE
| $11.2M | 0.01% |
360,371
+133,305
| +59% | +$3.96M |
|
929
International Seaways
INSW
$4.95B
| $11.2M | 0.01% |
306,160
+97,081
| +46% | +$3.48M |
|
930
Clear Secure
YOU
$4.6B
| $11.1M | 0.01% |
401,514
-124,305
| -24% | -$3.17M |
|
931
Signet Jewelers
SIG
$3.24B
| $11.1M | 0.01% |
140,009
-35,547
| -20% | -$2.36M |
|
932
Kulicke & Soffa
KLIC
$4.37B
| $11.1M | 0.01% |
321,313
+271,868
| +550% | +$8.84M |
|
933
Life Time Group Holdings
LTH
$10.2B
| $11.1M | 0.01% |
364,593
+23,899
| +7% | +$709K |
|
934
United Microelectronic
UMC
$47.8B
| $11.1M | 0.01% |
1,445,478
+9,850
| +0.7% | +$73.1K |
|
935
Nektar Therapeutics
NKTR
$2.52B
| $11.1M | 0.01% |
427,867
+185,144
| +76% | +$2.08M |
|
936
Marriott Vacations Worldwide
VAC
$3.93B
| $11M | 0.01% |
152,639
+5,820
| +4% | +$367K |
|
937
Kiniksa Pharmaceuticals
KNSA
$6.19B
| $11M | 0.01% |
398,232
-93,529
| -19% | -$2.38M |
|
938
Patterson-UTI
PTEN
$4.52B
| $11M | 0.01% |
1,857,686
+433,097
| +30% | +$2.61M |
|
939
Seadrill
SDRL
$2.92B
| $11M | 0.01% |
418,322
+198,644
| +90% | +$4.69M |
|
940
Itron
ITRI
$4.32B
| $10.9M | 0.01% |
82,737
-15,579
| -16% | -$1.76M |
|
941
AES
AES
$10.5B
| $10.8M | 0.01% |
1,073,690
-507,758
| -32% | -$5.44M |
|
942
Iron Mountain
IRM
$36.1B
| $10.8M | 0.01% |
106,009
+40,844
| +63% | +$3.85M |
|
943
Grupo Aeroportuario Centro Norte
OMAB
$4.97B
| $10.8M | 0.01% |
102,050
+39,581
| +63% | +$3.71M |
|
944
Tenable Holdings
TENB
$3.74B
| $10.8M | 0.01% |
318,664
+73,553
| +30% | +$2.39M |
|
945
Eastman Chemical
EMN
$8.31B
| $10.7M | 0.01% |
143,763
-20,175
| -12% | -$1.59M |
|
946
ACM Research
ACMR
$5.39B
| $10.7M | 0.01% |
413,371
+169,552
| +70% | +$3.81M |
|
947
Rockwell Automation
ROK
$47.7B
| $10.6M | 0.01% |
32,113
+23,974
| +295% | +$6.83M |
|
948
Blue Bird Corp
BLBD
$1.87B
| $10.6M | 0.01% |
245,717
-25,072
| -9% | -$955K |
|
949
California Resources
CRC
$4.65B
| $10.6M | 0.01% |
232,108
+185,576
| +399% | +$7.58M |
|
950
Rush Street Interactive
RSI
$3.05B
| $10.6M | 0.01% |
710,545
+111,672
| +19% | +$1.39M |
|
Similar funds
Cliff Asness's Q2 2025 Portfolio in Review
As of Q2 2025, Cliff Asness held 3,434 positions worth $121B, up 25% from $97.1B the previous quarter. Its ten largest holdings account for 12% of the portfolio.
Cliff Asness deployed $14B of net new capital in Q2 2025, opening 284 new positions and adding to 1,844 existing holdings. Its largest new stake was Reddit: 531,663 shares worth $80.1M.
By sector, the portfolio is most concentrated in Technology at 25% of assets, up from 22% a quarter earlier, followed by Financials and Consumer Discretionary.
On the sell side, the largest reduction was ConocoPhillips, an estimated $300M trimmed.
- Cliff Asness's largest Q2 2025 buy was Reddit: 531,663 shares worth $80.1M.
- Cliff Asness added most to Monster Beverage in Q2 2025, an estimated $345M increase.
- Cliff Asness's biggest Q2 2025 reduction was ConocoPhillips, cutting an estimated $300M.
- Cliff Asness fully exited Discover Financial Services in Q2 2025, selling an estimated $36.3M.
- Cliff Asness's ten largest holdings make up 12% of its $121B portfolio in Q2 2025.
- Cliff Asness opened 284 new positions and closed 142 in Q2 2025.
- Cliff Asness's portfolio value rose 25% quarter-over-quarter to $121B.
Based on AQR Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.