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 | |
|---|---|---|---|---|---|---|
1501
Revvity
RVTY
$13.9B
| $5.68M | ﹤0.01% |
58,658
+40,802
| +229% | +$3.92M |
|
1502
HEICO Corp Class A
HEI.A
$36.2B
| $5.65M | ﹤0.01% |
22,393
+5,216
| +30% | +$1.29M |
|
1503
Alliant Energy
LNT
$17.7B
| $5.65M | ﹤0.01% |
86,874
+2,564
| +3% | +$172K |
|
1504
State Street SPDR Portfolio Emerging Markets ETF
SPEM
$17.7B
| $5.64M | ﹤0.01% |
120,537
+26,526
| +28% | +$1.25M |
|
1505
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
$23.3B
| $5.63M | ﹤0.01% |
47,136
+2,148
| +5% | +$255K |
|
1506
Fulton Financial
FULT
$4.51B
| $5.63M | ﹤0.01% |
291,100
+54,112
| +23% | +$996K |
|
1507
Alamo Group
ALG
$1.97B
| $5.62M | ﹤0.01% |
33,507
-696
| -2% | -$121K |
|
1508
Taboola.com
TBLA
$991M
| $5.62M | ﹤0.01% |
1,219,679
+277,061
| +29% | +$1.04M |
|
1509
Gray Television
GTN
$515M
| $5.62M | ﹤0.01% |
1,161,583
+19,288
| +2% | +$94.4K |
|
1510
JFrog
FROG
$11.2B
| $5.62M | ﹤0.01% |
89,991
+8,379
| +10% | +$476K |
|
1511
Compass
COMP
$9.07B
| $5.6M | ﹤0.01% |
529,768
-243,041
| -31% | -$2.22M |
|
1512
Alight
ALIT
$393M
| $5.6M | ﹤0.01% |
143,572
+94,233
| +191% | +$4.69M |
|
1513
1st Source
SRCE
$2.07B
| $5.6M | ﹤0.01% |
89,536
+20,597
| +30% | +$1.27M |
|
1514
Itron
ITRI
$4.27B
| $5.59M | ﹤0.01% |
60,241
-22,052
| -27% | -$2.4M |
|
1515
ADMA Biologics
ADMA
$2.17B
| $5.59M | ﹤0.01% |
306,207
+31,048
| +11% | +$523K |
|
1516
Materion
MTRN
$4.82B
| $5.58M | ﹤0.01% |
44,885
-786
| -2% | -$96.9K |
|
|
VRE
1517
DELISTED
Veris Residential
VRE
| $5.55M | ﹤0.01% |
373,064
+190,092
| +104% | +$2.81M |
|
1518
Pebblebrook Hotel Trust
PEB
$2.08B
| $5.55M | ﹤0.01% |
489,955
+34,533
| +8% | +$380K |
|
|
UCTT
1519
Ultra Clean Holdings
UCTT
$3.3B
| $5.54M | ﹤0.01% |
218,663
-18,401
| -8% | -$490K |
|
1520
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
$10.8B
| $5.54M | ﹤0.01% |
192,008
+7,011
| +4% | +$203K |
|
1521
Vanda Pharmaceuticals
VNDA
$328M
| $5.53M | ﹤0.01% |
627,006
-41,460
| -6% | -$228K |
|
1522
Mesa Laboratories
MLAB
$705M
| $5.51M | ﹤0.01% |
70,138
+37,499
| +115% | +$2.85M |
|
1523
Hamilton Lane
HLNE
$4.58B
| $5.5M | ﹤0.01% |
40,947
+36,450
| +811% | +$4.58M |
|
1524
Costamare
CMRE
$1.9B
| $5.5M | ﹤0.01% |
348,140
+10,807
| +3% | +$149K |
|
1525
BioCryst Pharmaceuticals
BCRX
$2.49B
| $5.49M | ﹤0.01% |
704,291
-295,494
| -30% | -$2.14M |
|
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.