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 | |
|---|---|---|---|---|---|---|
1026
Sony
SONY
$142B
| $15.8M | 0.01% |
615,912
+164,403
| +36% | +$4.62M |
|
1027
Hamilton Insurance Group
HG
$3.47B
| $15.6M | 0.01% |
559,707
+25,520
| +5% | +$662K |
|
1028
Dick's Sporting Goods
DKS
$16.1B
| $15.6M | 0.01% |
78,871
-269,557
| -77% | -$58.8M |
|
1029
Perimeter Solutions
PRM
$5.02B
| $15.6M | 0.01% |
566,319
+14,542
| +3% | +$367K |
|
1030
Genworth Financial
GNW
$3.74B
| $15.6M | 0.01% |
1,724,343
+312,027
| +22% | +$2.72M |
|
1031
State Street SPDR US Large Cap Low Volatility Index ETF
LGLV
$1.24B
| $15.6M | 0.01% |
88,683
+19,208
| +28% | +$3.37M |
|
1032
Madison Square Garden
MSGS
$9.69B
| $15.5M | 0.01% |
60,048
+6,362
| +12% | +$1.45M |
|
1033
Nutrien
NTR
$35.5B
| $15.3M | 0.01% |
248,093
+229,549
| +1,238% | +$13.5M |
|
|
AXON
1034
Axon Enterprise
AXON
$48.5B
| $15.3M | 0.01% |
26,945
-16,479
| -38% | -$10.2M |
|
1035
Unity
U
$20.3B
| $15.2M | 0.01% |
344,413
+167,874
| +95% | +$6.84M |
|
1036
AGCO
AGCO
$7.71B
| $15.2M | 0.01% |
145,722
+99,687
| +217% | +$10.6M |
|
1037
iShares Core MSCI Emerging Markets ETF
IEMG
$158B
| $15.1M | 0.01% |
225,307
+15,979
| +8% | +$1.07M |
|
|
PPL
1038
PPL Corp
PPL
$26.4B
| $15.1M | 0.01% |
432,205
-226,284
| -34% | -$8.16M |
|
1039
Banco Santander
SAN
$214B
| $15.1M | 0.01% |
1,289,067
+250,317
| +24% | +$2.66M |
|
1040
State Street Technology Select Sector SPDR ETF
XLK
$117B
| $15.1M | 0.01% |
104,909
+26,073
| +33% | +$3.77M |
|
1041
State Street SPDR Portfolio Aggregate Bond ETF
SPAB
$10.3B
| $15.1M | 0.01% |
585,770
-1,625
| -0.3% | -$42.1K |
|
1042
Vanguard Russell 1000 ETF
VONE
$8.58B
| $15.1M | 0.01% |
48,805
+6,980
| +17% | +$2.14M |
|
1043
Lithia Motors
LAD
$8.1B
| $15.1M | 0.01% |
45,326
+7,301
| +19% | +$2.32M |
|
1044
LiveRamp
RAMP
$2.29B
| $15M | 0.01% |
511,677
+52,878
| +12% | +$1.52M |
|
1045
Kearny Financial
KRNY
$618M
| $15M | 0.01% |
2,023,294
+539,811
| +36% | +$3.73M |
|
1046
Nuvation Bio
NUVB
$2.37B
| $15M | 0.01% |
1,669,166
-365,045
| -18% | -$2.26M |
|
1047
Cytokinetics
CYTK
$10.7B
| $14.8M | 0.01% |
236,925
-276,365
| -54% | -$17.2M |
|
1048
Byline Bancorp
BY
$1.73B
| $14.7M | 0.01% |
504,943
+23,990
| +5% | +$674K |
|
1049
Radian Group
RDN
$4.86B
| $14.6M | 0.01% |
405,561
-128,594
| -24% | -$4.49M |
|
1050
EA Bridgeway Omni Small-Cap Value ETF
BSVO
$2.45B
| $14.6M | 0.01% |
625,507
+81,445
| +15% | +$1.87M |
|
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.