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 | |
|---|---|---|---|---|---|---|
2151
Canadian National Railway
CNI
$76.9B
| $1.1M | ﹤0.01% |
10,550
+7,356
| +230% | +$748K |
|
2152
J. Jill
JILL
$295M
| $1.1M | ﹤0.01% |
74,956
+2,285
| +3% | +$36.1K |
|
2153
Home Bancorp
HBCP
$543M
| $1.1M | ﹤0.01% |
21,180
+8,922
| +73% | +$434K |
|
|
DRD
2154
DRDGold
DRD
$2.71B
| $1.1M | ﹤0.01% |
82,193
-31,487
| -28% | -$466K |
|
2155
Orrstown Financial Services
ORRF
$822M
| $1.1M | ﹤0.01% |
34,406
-4,871
| -12% | -$144K |
|
2156
Herc Holdings
HRI
$5.22B
| $1.09M | ﹤0.01% |
8,312
-17,470
| -68% | -$2.12M |
|
2157
MGP Ingredients
MGPI
$384M
| $1.09M | ﹤0.01% |
36,494
+11,469
| +46% | +$341K |
|
2158
CNB Financial Corp
CCNE
$1B
| $1.09M | ﹤0.01% |
47,609
+3,719
| +8% | +$81.7K |
|
2159
Consolidated Water Co
CWCO
$482M
| $1.08M | ﹤0.01% |
36,129
-10,351
| -22% | -$268K |
|
2160
Nicolet Bankshares
NIC
$3.59B
| $1.08M | ﹤0.01% |
8,779
-3,040
| -26% | -$355K |
|
2161
State Street SPDR S&P 600 Small Cap Value ETF
SLYV
$5.04B
| $1.08M | ﹤0.01% |
13,571
+1,856
| +16% | +$141K |
|
2162
Teladoc Health
TDOC
$1.12B
| $1.08M | ﹤0.01% |
125,417
-114,430
| -48% | -$829K |
|
2163
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund
MINT
$17.4B
| $1.08M | ﹤0.01% |
10,751
-2,496
| -19% | -$250K |
|
2164
iRhythm Holdings
IRTC
$4.06B
| $1.08M | ﹤0.01% |
6,985
-1,318
| -16% | -$170K |
|
2165
SES AI
SES
$202M
| $1.07M | ﹤0.01% |
1,209,030
+71,027
| +6% | +$59.6K |
|
2166
OraSure Technologies
OSUR
$261M
| $1.07M | ﹤0.01% |
357,738
-684,137
| -66% | -$1.97M |
|
2167
Neogen
NEOG
$2.54B
| $1.07M | ﹤0.01% |
229,801
+177,391
| +338% | +$1.02M |
|
2168
Tompkins Financial
TMP
$1.41B
| $1.07M | ﹤0.01% |
17,088
-18,853
| -52% | -$1.15M |
|
2169
LGI Homes
LGIH
$1.37B
| $1.07M | ﹤0.01% |
+20,758
| New | +$1.14M |
|
2170
Dimensional US High Profitability ETF
DUHP
$12.7B
| $1.07M | ﹤0.01% |
30,073
+4,493
| +18% | +$150K |
|
2171
FT Vest Fund of Buffer ETFs
BUFR
$10.4B
| $1.07M | ﹤0.01% |
33,559
-969
| -3% | -$29.2K |
|
2172
Douglas Emmett
DEI
$2.04B
| $1.07M | ﹤0.01% |
70,912
+43,214
| +156% | +$624K |
|
2173
Pan American Silver
PAAS
$22.5B
| $1.06M | ﹤0.01% |
37,500
+17,971
| +92% | +$465K |
|
2174
Tenaya Therapeutics
TNYA
$157M
| $1.06M | ﹤0.01% |
1,742,226
+966,569
| +125% | +$492K |
|
2175
HealthStream
HSTM
$844M
| $1.06M | ﹤0.01% |
38,440
-54,323
| -59% | -$1.61M |
|
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.