AQR Capital Management
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Cliff Asness's AQR Capital Management reported 3,149 stock positions worth $97.1 billion. Its top holding was Apple (AAPL) at 2.3% of the portfolio, followed by Nvidia (NVDA, 2.1%) and Microsoft (MSFT, 1.7%). Compared with Q4 2024, it opened 373 new positions, sold out of 86, added to 1,829 and reduced 905. The biggest buy was Snowflake (SNOW, shares +346%) and the biggest sale Apple (AAPL, shares −1%).
- Most Recent 13F
- Q2 2026
- Notable People
- Cliff Asness
- Location
- Greenwich, CT
- CIK
- 0001167557
- Portfolio Value
- $97.1B (Q1 2025)
- SEC Filing
- 0001085146-25-003311 ↗ filed May 15, 2025
Holdings Value
Holdings 3,149 stocks · $97.1B
| AAPL Apple Inc. | 2.29% | 10,248,500 | $2.2B | Reduce -0.8% |
| NVDA Nvidia Corp. | 2.07% | 19,204,763 | $2.0B | Add +17.7% |
| MSFT Microsoft Corp. | 1.73% | 4,535,142 | $1.7B | Add +7.7% |
| AMZN Amazon.com Inc. | 1.14% | 5,975,977 | $1.1B | Add +11.0% |
| META Meta Platforms Inc. Class A | 0.96% | 1,653,887 | $927.1M | Add +0.3% |
| JNJ Johnson & Johnson | 0.90% | 5,265,710 | $873.3M | Add +51.6% |
| CME Cme Group Inc. | 0.76% | 2,783,759 | $735.5M | Add +10.3% |
| GE General Electric filed as GE AEROSPACE | 0.75% | 3,681,095 | $724.8M | Reduce -0.1% |
| BKNG Booking Holdings Inc. | 0.72% | 154,206 | $695.3M | Add +79.4% |
| MRK Merck & Co. Inc. | 0.71% | 7,757,818 | $691.1M | Add +44.3% |
| CNC Centene Corp. | 0.69% | 11,049,494 | $669.8M | Add +42.7% |
| MCK McKesson Corp. | 0.66% | 954,710 | $642.5M | Add +3.5% |
| GM General Motors Co. | 0.65% | 13,470,258 | $629.2M | Add +146.8% |
| ADBE Adobe Inc. | 0.64% | 1,632,789 | $616.3M | Add +116.9% |
| VRSN Verisign Inc. | 0.60% | 2,329,640 | $586.4M | Add +75.5% |
| ANET Arista Networks Inc. | 0.60% | 7,719,809 | $584.1M | Add +153.8% |
| FTNT Fortinet Inc. | 0.58% | 5,971,648 | $561.2M | Add +40.9% |
| AVGO Broadcom Inc. | 0.57% | 3,421,858 | $556.4M | Add +20.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.57% | 1,029,920 | $548.5M | Add +28.2% |
| CMCSA Comcast Corp. Class A | 0.55% | 14,716,987 | $538.2M | Add +19.0% |
| ZM Zoom Communications Inc. | 0.55% | 7,406,223 | $536.5M | Reduce -1.8% |
| T AT&T Inc. | 0.54% | 18,694,708 | $528.7M | Add +4.5% |
| GOOG Alphabet Inc. Class C | 0.53% | 3,303,750 | $516.1M | Add +13.2% |
| RBLX Roblox Corp. Class A | 0.52% | 8,770,427 | $504.4M | Add +217.4% |
| ABNB Airbnb Inc. Class A | 0.52% | 4,282,523 | $500.8M | Add +81.0% |
| COP Conocophillips | 0.50% | 4,664,408 | $484.5M | Add +190.4% |
| GOOGL Alphabet Inc. Class A | 0.49% | 3,160,455 | $479.2M | Add +16.4% |
| PM Philip Morris International | 0.49% | 3,002,216 | $473.7M | Add +111.2% |
| NOC Northrop Grumman Corp. | 0.47% | 899,114 | $460.4M | Add +98.8% |
| C Citigroup Inc. | 0.47% | 6,621,300 | $456.7M | Add +52.8% |
| SNOW Snowflake Inc. | 0.47% | 3,171,635 | $456.4M | Add +346.2% |
| LLY Eli Lilly & Co. | 0.47% | 567,503 | $456.2M | Reduce -11.9% |
| CB Chubb Ltd. | 0.44% | 1,410,449 | $423.8M | Add +19.6% |
| ALL Allstate Corp. | 0.43% | 2,018,403 | $417.2M | Add +20.3% |
| V Visa Inc. Class A | 0.43% | 1,219,947 | $412.9M | Add +18.4% |
| UNH Unitedhealth Group Inc. | 0.42% | 784,689 | $411.0M | Add +251.5% |
| COST Costco Wholesale Corp. | 0.42% | 439,093 | $408.4M | Add +45.3% |
| INCY Incyte Corp. | 0.42% | 6,736,169 | $405.8M | Add +92.3% |
| COR Cencora Inc. | 0.41% | 1,425,990 | $396.6M | Reduce -2.6% |
| CI The Cigna Group | 0.39% | 1,149,693 | $378.2M | Add +15.4% |
| TRV The Travelers Cos Inc. | 0.39% | 1,431,736 | $377.9M | Add +24.0% |
| WMT Walmart Inc. | 0.38% | 4,311,382 | $371.7M | Reduce -19.2% |
| GEV GE Vernova Inc. | 0.38% | 1,245,420 | $366.0M | Add +252.9% |
| MSCI MSCI Inc. | 0.38% | 660,690 | $366.0M | Add +355.7% |
| BMY Bristol-Myers Squibb Co. | 0.38% | 5,969,030 | $364.1M | Add +49.0% |
| NOW ServiceNow Inc. | 0.37% | 473,609 | $362.6M | Add +111.0% |
| LMT Lockheed Martin Corp. | 0.37% | 808,232 | $361.0M | Add +76.7% |
| TEAM Atlassian Corp. Class A | 0.37% | 1,715,287 | $354.9M | Add +145.6% |
| MMM 3M Co. | 0.36% | 2,433,149 | $349.1M | Reduce -2.7% |
| JPM JPMorgan Chase & Co. | 0.35% | 1,429,783 | $342.3M | Add +56.9% |
| PGR Progressive Corp. | 0.35% | 1,213,724 | $341.3M | Reduce -33.2% |
| GRMN Garmin Ltd. | 0.35% | 1,585,170 | $340.6M | Add +79.3% |
| CSCO Cisco Systems Inc. | 0.34% | 5,418,603 | $330.9M | Add +31.5% |
| MO Altria Group Inc. | 0.34% | 5,530,177 | $328.9M | Reduce -5.7% |
| AXS Axis Capital Holdings Ltd. | 0.34% | 3,290,411 | $328.6M | Add +22.3% |
| DASH DoorDash Inc. Class A | 0.33% | 1,836,122 | $321.8M | Add +442.4% |
| EIX Edison International | 0.33% | 5,428,038 | $319.2M | Add +190.5% |
| CMI Cummins Inc. | 0.32% | 1,022,373 | $314.9M | Add +70.9% |
| HUM Humana Inc. | 0.32% | 1,162,600 | $307.6M | Add +3257.5% |
| MDT Medtronic PLC | 0.31% | 3,369,317 | $298.7M | Add +29.3% |
| CFG Citizens Financial Group | 0.30% | 7,366,754 | $294.0M | Add +19.1% |
| TT Trane Technologies PLC | 0.30% | 885,039 | $291.7M | Add +95.1% |
| PEP Pepsico Inc. | 0.30% | 1,934,642 | $290.1M | Add +38.7% |
| MOH Molina Healthcare Inc. | 0.30% | 884,958 | $288.1M | Add +42.7% |
| AIG American International Group | 0.30% | 3,335,040 | $287.2M | Add +184.4% |
| TSLA Tesla Inc. | 0.29% | 1,145,865 | $285.0M | Add +3.9% |
| PCG P G & E Corp. | 0.29% | 16,464,333 | $280.3M | Add +317.2% |
| PANW Palo Alto Networks Inc. | 0.29% | 1,673,392 | $280.1M | Add +66.5% |
| ELV Elevance Health Inc. | 0.29% | 643,172 | $279.8M | Add +53.6% |
| RGLD Royal Gold Inc. | 0.28% | 1,682,911 | $274.9M | Add +68.8% |
| UTHR United Therapeutics Corp. | 0.28% | 908,448 | $273.3M | Reduce -6.9% |
| FTI Technipfmc PLC | 0.28% | 8,735,697 | $273.1M | Add +111.4% |
| KR Kroger Co. | 0.28% | 3,987,931 | $269.9M | Reduce -14.0% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.27% | 3,244,204 | $266.3M | Add +37.6% |
| MA Mastercard Inc. Class A | 0.27% | 497,167 | $265.3M | Add +6.4% |
| TMUS T-Mobile US Inc. | 0.27% | 971,862 | $259.2M | Add +41.9% |
| CRBG Corebridge Financial Inc. | 0.27% | 8,337,525 | $258.9M | Add +50.0% |
| NFLX Netflix Inc. | 0.27% | 283,596 | $258.3M | Add +8.1% |
| EG Everest Group Ltd. | 0.27% | 712,959 | $257.8M | Reduce -5.0% |
| XOM Exxon Mobil Corp. | 0.26% | 2,157,750 | $256.6M | Add +13.4% |
| EME Emcor Group Inc. | 0.26% | 703,456 | $253.1M | Add +43.6% |
| EXEL Exelixis Inc. | 0.26% | 6,893,889 | $250.9M | Add +73.8% |
| CVS CVS Health Corp. | 0.26% | 3,687,268 | $249.1M | Add +38.3% |
| NTNX Nutanix Inc. Class A | 0.25% | 3,604,005 | $246.9M | Add +65.5% |
| DAL Delta Air Lines Inc. | 0.25% | 5,963,882 | $246.5M | Add +149.9% |
| RL Ralph Lauren Corp. | 0.25% | 1,157,867 | $245.5M | Add +55.7% |
| PNC PNC Financial Services Group | 0.25% | 1,421,434 | $245.1M | Add +187.3% |
| PG The Procter & Gamble Co. | 0.25% | 1,439,430 | $244.6M | Add +6.2% |
| CAH Cardinal Health Inc. | 0.25% | 1,738,090 | $239.0M | Reduce -34.0% |
| OVV Ovintiv Inc. | 0.25% | 5,572,732 | $238.5M | Add +69.7% |
| SSNC Ss&c Technologies Holdings | 0.25% | 2,921,882 | $238.3M | Add +28.7% |
| VZ Verizon Communications Inc. | 0.24% | 5,236,997 | $237.6M | Add +41.9% |
| EXPE Expedia Group Inc. | 0.24% | 1,444,283 | $235.6M | Add +174.0% |
| BKR Baker Hughes Co. | 0.24% | 5,457,164 | $235.0M | Add +27.8% |
| ZS Zscaler Inc. | 0.24% | 1,191,930 | $234.7M | Add +23.6% |
| QCOM Qualcomm Inc. | 0.24% | 1,544,011 | $230.4M | Add +84.6% |
| ABT Abbott Laboratories | 0.23% | 1,716,693 | $227.1M | Add +14.9% |
| PYPL PayPal Holdings Inc. | 0.23% | 3,501,936 | $224.0M | Add +15.8% |
| ETSY Etsy Inc. | 0.23% | 4,658,225 | $218.9M | Add +423.7% |
| HIG Hartford Insurance Group Inc. | 0.22% | 1,768,620 | $218.2M | Reduce -4.0% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $939K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 | 100,130 | $939K | No change |
Total filed on the 13F, all lines: $97.1B.
Portfolio Sells Q4 2024 → Q1 2025
| AAPL Apple Inc. | Reduce -0.8% | 2.29% | −1.04 |
| ZM Zoom Communications Inc. | Reduce -1.8% | 0.55% | −0.24 |
| WMT Walmart Inc. | Reduce -19.2% | 0.38% | −0.24 |
| SMAR Smartsheet Inc. Class A | Sold out | 0.00% | −0.22 |
| NBIX Neurocrine Biosciences Inc. | Reduce -43.4% | 0.12% | −0.21 |
| LEN Lennar Corp. Class A | Reduce -46.6% | 0.12% | −0.21 |
| PGR Progressive Corp. | Reduce -33.2% | 0.35% | −0.21 |
| LLY Eli Lilly & Co. | Reduce -11.9% | 0.47% | −0.17 |
| HOOD Robinhood Markets Inc. Class A | Reduce -61.9% | 0.08% | −0.17 |
| APPF Appfolio Inc. Class A | Reduce -71.9% | 0.04% | −0.17 |
| ABBV Abbvie Inc. | Reduce -46.5% | 0.16% | −0.17 |
| UTHR United Therapeutics Corp. | Reduce -6.9% | 0.28% | −0.16 |
| CL Colgate-Palmolive Co. | Reduce -30.3% | 0.21% | −0.16 |
| CAH Cardinal Health Inc. | Reduce -34.0% | 0.25% | −0.15 |
| PHM Pultegroup Inc. | Reduce -66.9% | 0.05% | −0.15 |
| ORCL Oracle Corp. | Reduce -51.3% | 0.07% | −0.15 |
| NVR NVR Inc. | Reduce -50.3% | 0.07% | −0.13 |
| SAM Boston Beer Company Inc. Class A | Reduce -72.2% | 0.03% | −0.13 |
| BAC Bank of America Corp. | Reduce -28.3% | 0.15% | −0.13 |
| TAP Molson Coors Beverage Co. Class B | Reduce -19.1% | 0.22% | −0.10 |
| ROST Ross Stores Inc. | Reduce -26.2% | 0.09% | −0.09 |
| RMD Resmed Inc. | Reduce -35.6% | 0.09% | −0.09 |
| ETN Eaton Corp. PLC | Reduce -21.4% | 0.10% | −0.09 |
| AMAT Applied Materials Inc. | Reduce -25.0% | 0.10% | −0.09 |
| TRU Transunion | Reduce -81.1% | 0.01% | −0.09 |
| FIS Fidelity National Info Serv | Reduce -23.7% | 0.11% | −0.09 |
| KR Kroger Co. | Reduce -14.0% | 0.28% | −0.09 |
| EG Everest Group Ltd. | Reduce -5.0% | 0.27% | −0.08 |
| WDAY Workday Inc. Class A | Reduce -62.1% | 0.03% | −0.08 |
| AIZ Assurant Inc. | Reduce -10.8% | 0.19% | −0.08 |
| FLS Flowserve Corp. | Reduce -6.3% | 0.13% | −0.08 |
| TDC Teradata Corp. | Reduce -50.0% | 0.03% | −0.08 |
| BRBR Bellring Brands Inc. | Reduce -18.9% | 0.14% | −0.08 |
| HII Huntington Ingalls Industrie | Reduce -57.9% | 0.04% | −0.08 |
| VAC Marriott Vacations World | Reduce -80.8% | 0.01% | −0.08 |
| XEL Xcel Energy Inc. | Reduce -27.3% | 0.12% | −0.08 |
| JBL Jabil Inc. | Reduce -22.8% | 0.10% | −0.08 |
| GDDY GoDaddy Inc. Class A | Reduce -2.7% | 0.18% | −0.07 |
| PFE Pfizer Inc. | Reduce -9.3% | 0.16% | −0.07 |
| CRI Carter's Inc. | Reduce -31.0% | 0.05% | −0.07 |
| OC Owens Corning | Reduce -17.6% | 0.08% | −0.07 |
| INSP Inspire Medical Systems Inc. | Reduce -44.8% | 0.04% | −0.07 |
| PPG PPG Industries Inc. | Reduce -77.3% | 0.01% | −0.07 |
| NTAP Netapp Inc. | Reduce -19.1% | 0.06% | −0.07 |
| APP AppLovin Corp. Class A | Reduce -29.9% | 0.05% | −0.07 |
| CCL Carnival Corp. | Reduce -6.0% | 0.09% | −0.06 |
| IT Gartner Inc. | Reduce -23.5% | 0.07% | −0.06 |
| GTLB Gitlab Inc. Class A | Reduce -19.4% | 0.07% | −0.06 |
| BEN Franklin Templeton Inc. | Reduce -68.0% | 0.02% | −0.06 |
| DOCU Docusign Inc. | Reduce -18.5% | 0.08% | −0.06 |
Portfolio Buys Q4 2024 → Q1 2025
| SNOW Snowflake Inc. | Add +346.2% | 0.47% | +0.33 |
| RBLX Roblox Corp. Class A | Add +217.4% | 0.52% | +0.31 |
| HUM Humana Inc. | Add +3257.5% | 0.32% | +0.31 |
| COP Conocophillips | Add +190.4% | 0.50% | +0.30 |
| UNH Unitedhealth Group Inc. | Add +251.5% | 0.42% | +0.28 |
| GM General Motors Co. | Add +146.8% | 0.65% | +0.27 |
| PM Philip Morris International | Add +111.2% | 0.49% | +0.27 |
| MSCI MSCI Inc. | Add +355.7% | 0.38% | +0.27 |
| DASH DoorDash Inc. Class A | Add +442.4% | 0.33% | +0.26 |
| JNJ Johnson & Johnson | Add +51.6% | 0.90% | +0.26 |
| VRSN Verisign Inc. | Add +75.5% | 0.60% | +0.25 |
| GEV GE Vernova Inc. | Add +252.9% | 0.38% | +0.23 |
| ADBE Adobe Inc. | Add +116.9% | 0.64% | +0.20 |
| NOC Northrop Grumman Corp. | Add +98.8% | 0.47% | +0.20 |
| PCG P G & E Corp. | Add +317.2% | 0.29% | +0.19 |
| AIG American International Group | Add +184.4% | 0.30% | +0.19 |
| CNXC Concentrix Corp. | Add +850.1% | 0.20% | +0.18 |
| ANET Arista Networks Inc. | Add +153.8% | 0.60% | +0.17 |
| BKNG Booking Holdings Inc. | Add +79.4% | 0.72% | +0.17 |
| ETSY Etsy Inc. | Add +423.7% | 0.23% | +0.16 |
| TSN Tyson Foods Inc. Class A | Add +776.8% | 0.19% | +0.16 |
| SCHW Schwab (charles) Corp. | Add +694.1% | 0.19% | +0.16 |
| APH Amphenol Corp. Class A | Add +338.8% | 0.22% | +0.15 |
| DKNG Draftkings Inc. Class A | Add +2138.9% | 0.16% | +0.15 |
| TEAM Atlassian Corp. Class A | Add +145.6% | 0.37% | +0.15 |
| JCI Johnson Controls Internation | Add +747.6% | 0.16% | +0.14 |
| EXR Extra Space Storage Inc. | Add +570.3% | 0.17% | +0.14 |
| FMC FMC Corp. | Add +1199.8% | 0.16% | +0.14 |
| EIX Edison International | Add +190.5% | 0.33% | +0.14 |
| MRVL Marvell Technology Inc. | Add +662.9% | 0.19% | +0.14 |
| TTC Toro Co. | Add +1184.7% | 0.15% | +0.13 |
| PNC PNC Financial Services Group | Add +187.3% | 0.25% | +0.13 |
| FTI Technipfmc PLC | Add +111.4% | 0.28% | +0.13 |
| ESTC Elastic NV | Add +6651.3% | 0.13% | +0.12 |
| EXC Exelon Corp. | Add +506.9% | 0.15% | +0.12 |
| EXPE Expedia Group Inc. | Add +174.0% | 0.24% | +0.12 |
| GRMN Garmin Ltd. | Add +79.3% | 0.35% | +0.12 |
| ABNB Airbnb Inc. Class A | Add +81.0% | 0.52% | +0.12 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +238.4% | 0.19% | +0.12 |
| RGLD Royal Gold Inc. | Add +68.8% | 0.28% | +0.11 |
| ARE Alexandria Real Estate Equit | Add +511.9% | 0.14% | +0.11 |
| MAT Mattel Inc. | Add +386.2% | 0.14% | +0.11 |
| ALLE Allegion PLC | Add +380.0% | 0.15% | +0.11 |
| INCY Incyte Corp. | Add +92.3% | 0.42% | +0.11 |
| HUN Huntsman Corp. | Add +345.8% | 0.16% | +0.11 |
| UPS United Parcel Service Class B | Add +582.0% | 0.13% | +0.10 |
| BAH Booz Allen Hamilton Holdings | Add +288.4% | 0.17% | +0.10 |
| CVS CVS Health Corp. | Add +38.3% | 0.26% | +0.10 |
| TER Teradyne Inc. | Add +1612.4% | 0.12% | +0.10 |
| ADSK Autodesk Inc. | Add +336.7% | 0.15% | +0.10 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 3,895 | $286.8B | NVDA, AAPL, MU, MSFT, AMZN |
| Q1 2026 | 3,733 | $218.4B | NVDA, MSFT, AAPL, AMZN, AVGO |
| Q4 2025 | 3,558 | $190.6B | NVDA, AAPL, MSFT, AMZN, AVGO |
| Q3 2025 | 3,455 | $156.0B | NVDA, MSFT, AAPL, AMZN, AVGO |
| Q2 2025 | 3,291 | $120.9B | NVDA, MSFT, AAPL, AMZN, AVGO |
| Q1 2025 | 3,149 | $97.1B | AAPL, NVDA, MSFT, AMZN, META |
| Q4 2024 | 2,860 | $77.6B | AAPL, NVDA, MSFT, AMZN, META |
| Q3 2024 | 2,750 | $72.4B | NVDA, AAPL, MSFT, AMZN, META |
| Q2 2024 | 2,592 | $65.2B | NVDA, AAPL, MSFT, AMZN, GOOGL |
| Q1 2024 | 2,402 | $58.7B | MSFT, NVDA, AAPL, AMZN, META |