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 | |
|---|---|---|---|---|---|---|
1826
B&G Foods
BGS
$287M
| $1.84M | ﹤0.01% |
435,185
+271,404
| +166% | +$1.42M |
|
1827
Dime Commercial Bancshares
DCOM
$1.78B
| $1.84M | ﹤0.01% |
68,138
-101,365
| -60% | -$2.65M |
|
1828
Ichor Holdings
ICHR
$2.16B
| $1.84M | ﹤0.01% |
93,443
+57,466
| +160% | +$1.05M |
|
1829
Kforce
KFRC
$1.02B
| $1.83M | ﹤0.01% |
44,597
+21,812
| +96% | +$915K |
|
1830
State Street SPDR Portfolio Developed World ex-US ETF
SPDW
$42.2B
| $1.83M | ﹤0.01% |
45,166
+5,249
| +13% | +$201K |
|
1831
Western Alliance Bancorporation
WAL
$8.68B
| $1.83M | ﹤0.01% |
23,437
-34,384
| -59% | -$2.47M |
|
|
TBCH
1832
Turtle Beach Corp
TBCH
$229M
| $1.83M | ﹤0.01% |
132,070
+84,338
| +177% | +$1.01M |
|
1833
Turkcell
TKC
$4.72B
| $1.82M | ﹤0.01% |
304,118
-38,604
| -11% | -$234K |
|
1834
Live Oak Bancshares
LOB
$1.85B
| $1.82M | ﹤0.01% |
61,080
+51,590
| +544% | +$1.39M |
|
1835
CAVA Group
CAVA
$7.92B
| $1.82M | ﹤0.01% |
21,803
-18,749
| -46% | -$1.6M |
|
|
DAWN
1836
DELISTED
Day One Biopharmaceuticals
DAWN
| $1.82M | ﹤0.01% |
279,850
-338,777
| -55% | -$2.33M |
|
1837
Aurinia Pharmaceuticals
AUPH
$2.2B
| $1.82M | ﹤0.01% |
214,650
-288,893
| -57% | -$2.32M |
|
1838
Avantis International Large Cap Value ETF
AVIV
$2.12B
| $1.81M | ﹤0.01% |
29,127
| – | – |
|
1839
Winmark
WINA
$1.24B
| $1.81M | ﹤0.01% |
4,798
+523
| +12% | +$202K |
|
|
XYZ
1840
Block Inc
XYZ
$49.9B
| $1.81M | ﹤0.01% |
26,599
-2,936
| -10% | -$171K |
|
1841
CVB Financial
CVBF
$3.94B
| $1.81M | ﹤0.01% |
91,280
+42,784
| +88% | +$797K |
|
1842
Invesco S&P MidCap Momentum ETF
XMMO
$7.39B
| $1.81M | ﹤0.01% |
14,036
+1,201
| +9% | +$143K |
|
1843
Verra Mobility
VRRM
$672M
| $1.8M | ﹤0.01% |
70,951
+36,450
| +106% | +$849K |
|
1844
ORIX
IX
$43.2B
| $1.8M | ﹤0.01% |
79,972
+35,425
| +80% | +$727K |
|
|
AKRO
1845
DELISTED
Akero Therapeutics
AKRO
| $1.8M | ﹤0.01% |
33,747
+27,984
| +486% | +$1.27M |
|
1846
Zumiez
ZUMZ
$311M
| $1.8M | ﹤0.01% |
135,780
+87,221
| +180% | +$1.1M |
|
1847
iShares Global 100 ETF
IOO
$9.26B
| $1.8M | ﹤0.01% |
16,694
+3,240
| +24% | +$322K |
|
1848
Urban Edge Properties
UE
$2.71B
| $1.8M | ﹤0.01% |
96,330
-15,118
| -14% | -$276K |
|
1849
CorVel
CRVL
$3.55B
| $1.79M | ﹤0.01% |
17,408
-9,060
| -34% | -$999K |
|
1850
Cerence
CRNC
$363M
| $1.79M | ﹤0.01% |
183,748
+23,186
| +14% | +$204K |
|
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.