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 | |
|---|---|---|---|---|---|---|
|
FOLD
1076
DELISTED
Amicus Therapeutics
FOLD
| $13.8M | 0.01% |
966,795
+562,215
| +139% | +$5.52M |
|
1077
International Seaways
INSW
$4.95B
| $13.8M | 0.01% |
283,366
-66,128
| -19% | -$3.27M |
|
1078
Vanguard Morningstar Mid-Cap ETF
VO
$109B
| $13.7M | 0.01% |
189,356
+42,960
| +29% | +$3.13M |
|
1079
Indivior Pharmaceuticals
INDV
$4.27B
| $13.7M | 0.01% |
382,162
+367,715
| +2,545% | +$11.2M |
|
1080
Kforce
KFRC
$1.03B
| $13.7M | 0.01% |
442,523
+198,447
| +81% | +$5.84M |
|
1081
ACM Research
ACMR
$5.39B
| $13.6M | 0.01% |
343,603
-13,138
| -4% | -$490K |
|
1082
Garrett Motion
GTX
$4.82B
| $13.5M | 0.01% |
775,676
+414,592
| +115% | +$6.6M |
|
1083
Travere Therapeutics
TVTX
$6.15B
| $13.5M | 0.01% |
352,717
+39,340
| +13% | +$1.28M |
|
1084
Vanguard Morningstar Small-Cap Value ETF
VBR
$37.8B
| $13.4M | 0.01% |
63,473
+20,390
| +47% | +$4.27M |
|
1085
Warner Bros
WBD
$72B
| $13.4M | 0.01% |
465,842
-48,273
| -9% | -$1.13M |
|
1086
UDR
UDR
$12.3B
| $13.4M | 0.01% |
365,325
+58,603
| +19% | +$2.08M |
|
1087
Synopsys
SNPS
$75.5B
| $13.4M | 0.01% |
28,425
-17,360
| -38% | -$7.71M |
|
1088
WisdomTree US Efficient Core Fund
NTSX
$1.39B
| $13.3M | 0.01% |
243,247
-3,061
| -1% | -$167K |
|
1089
Carter's
CRI
$1.26B
| $13.3M | 0.01% |
413,472
-153,964
| -27% | -$4.81M |
|
1090
Tenable Holdings
TENB
$3.74B
| $13.3M | 0.01% |
565,736
+126,115
| +29% | +$3.45M |
|
1091
Amneal Pharmaceuticals
AMRX
$6.19B
| $13.2M | 0.01% |
1,046,112
+32,096
| +3% | +$367K |
|
|
GLIBK
1092
Liberty Capital Corp Series C GCI Group Common Stock
GLIBK
$1.03B
| $13.2M | 0.01% |
355,284
+348,715
| +5,308% | +$12.2M |
|
1093
Plexus
PLXS
$6.33B
| $13.2M | 0.01% |
89,505
+14,468
| +19% | +$2.12M |
|
1094
Peoples Bancorp
PEBO
$1.43B
| $13.1M | 0.01% |
437,232
+74,418
| +21% | +$2.21M |
|
1095
Avantis US Small Cap Value ETF
AVUV
$31.3B
| $13.1M | 0.01% |
128,736
+11,653
| +10% | +$1.17M |
|
1096
Schwab US Dividend Equity ETF
SCHD
$112B
| $13.1M | 0.01% |
478,235
+137,904
| +41% | +$3.75M |
|
1097
Seadrill
SDRL
$2.92B
| $13.1M | 0.01% |
378,982
-21,646
| -5% | -$674K |
|
1098
SharkNinja
SN
$25.8B
| $13M | 0.01% |
116,303
+58,958
| +103% | +$5.81M |
|
1099
Liberty Energy
LBRT
$3.02B
| $13M | 0.01% |
702,231
-362,743
| -34% | -$6.06M |
|
1100
Olin
OLN
$2B
| $12.8M | 0.01% |
616,364
-1,195,169
| -66% | -$25.8M |
|
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.