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 | |
|---|---|---|---|---|---|---|
1301
Pacer US Cash Cows 100 ETF
COWZ
$20.1B
| $4.87M | ﹤0.01% |
88,400
-37,245
| -30% | -$1.97M |
|
|
SAFE
1302
Safehold
SAFE
$1.1B
| $4.85M | ﹤0.01% |
312,014
+116,484
| +60% | +$1.81M |
|
1303
Enel Chile
ENIC
$6.32B
| $4.85M | ﹤0.01% |
1,335,170
-1,127,247
| -46% | -$3.98M |
|
1304
SunCoke Energy
SXC
$828M
| $4.84M | ﹤0.01% |
563,450
+196,913
| +54% | +$1.71M |
|
1305
Cable One
CABO
$149M
| $4.83M | ﹤0.01% |
36,671
+19,724
| +116% | +$3.7M |
|
1306
Janus Henderson AAA CLO ETF
JAAA
$30B
| $4.82M | ﹤0.01% |
95,044
-22,708
| -19% | -$1.15M |
|
1307
Pitney Bowes
PBI
$2.34B
| $4.81M | ﹤0.01% |
440,685
-287,798
| -40% | -$2.71M |
|
1308
Magnolia Oil & Gas
MGY
$6.27B
| $4.81M | ﹤0.01% |
213,858
+157,512
| +280% | +$3.49M |
|
1309
Harmony Biosciences
HRMY
$2.27B
| $4.8M | ﹤0.01% |
152,029
-14,311
| -9% | -$460K |
|
1310
Imperial Oil
IMO
$63.6B
| $4.8M | ﹤0.01% |
60,434
+26,216
| +77% | +$1.87M |
|
1311
Thomson Reuters
TRI
$45.2B
| $4.8M | ﹤0.01% |
23,493
+6,606
| +39% | +$1.26M |
|
1312
State Street SPDR Portfolio S&P 500 Value ETF
SPYV
$36.8B
| $4.79M | ﹤0.01% |
91,561
+25,745
| +39% | +$1.29M |
|
1313
Silgan Holdings
SLGN
$4.51B
| $4.78M | ﹤0.01% |
88,247
-870
| -1% | -$46K |
|
1314
Knife River
KNF
$3.74B
| $4.78M | ﹤0.01% |
58,537
-60,539
| -51% | -$5.51M |
|
1315
Monarch Casino & Resort
MCRI
$2.22B
| $4.77M | ﹤0.01% |
55,240
-2,491
| -4% | -$201K |
|
1316
Agnico Eagle Mines
AEM
$113B
| $4.77M | ﹤0.01% |
40,086
+20,257
| +102% | +$2.35M |
|
1317
DaVita
DVA
$11.3B
| $4.75M | ﹤0.01% |
33,389
+2,185
| +7% | +$310K |
|
1318
ESAB
ESAB
$5B
| $4.75M | ﹤0.01% |
39,651
-25,588
| -39% | -$3.09M |
|
1319
State Street DoubleLine Total Return Tactical ETF
TOTL
$4.01B
| $4.74M | ﹤0.01% |
118,292
+63,527
| +116% | +$2.53M |
|
1320
Manitowoc
MTW
$702M
| $4.74M | ﹤0.01% |
394,281
+103,829
| +36% | +$1.02M |
|
1321
Cushman & Wakefield Ltd
CWK
$3.49B
| $4.72M | ﹤0.01% |
426,578
+66,133
| +18% | +$648K |
|
1322
UBS Group
UBS
$166B
| $4.7M | ﹤0.01% |
139,033
+76,121
| +121% | +$2.36M |
|
1323
New Fortress Energy
NFE
$81.9M
| $4.69M | ﹤0.01% |
1,496,579
+1,449,639
| +3,088% | +$6.3M |
|
1324
Asana
ASAN
$2.18B
| $4.68M | ﹤0.01% |
346,724
-165,556
| -32% | -$2.59M |
|
1325
Alarm.com
ALRM
$2.79B
| $4.66M | ﹤0.01% |
82,319
+23,314
| +40% | +$1.29M |
|
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.