AQR Capital Management
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Cliff Asness's AQR Capital Management reported 3,291 stock positions worth $120.9 billion. Its top holding was Nvidia (NVDA) at 2.5% of the portfolio, followed by Microsoft (MSFT, 1.9%) and Apple (AAPL, 1.7%). Compared with Q1 2025, it opened 284 new positions, sold out of 143, added to 1,844 and reduced 1,127. The biggest buy was Nvidia (NVDA, shares +2%) and the biggest sale Apple (AAPL, shares −0%).
- Most Recent 13F
- Q2 2026
- Notable People
- Cliff Asness
- Location
- Greenwich, CT
- CIK
- 0001167557
- Portfolio Value
- $120.9B (Q2 2025)
- SEC Filing
- 0001085146-25-005295 ↗ filed Aug 14, 2025
Holdings Value
Holdings 3,291 stocks · $120.9B
| NVDA Nvidia Corp. | 2.54% | 19,624,757 | $3.1B | Add +2.2% |
| MSFT Microsoft Corp. | 1.88% | 4,563,843 | $2.3B | Add +0.6% |
| AAPL Apple Inc. | 1.69% | 10,199,877 | $2.0B | Reduce -0.5% |
| AMZN Amazon.com Inc. | 1.01% | 5,566,656 | $1.2B | Reduce -6.8% |
| AVGO Broadcom Inc. | 0.88% | 3,877,709 | $1.1B | Add +13.3% |
| META Meta Platforms Inc. Class A | 0.86% | 1,406,937 | $1.0B | Reduce -14.9% |
| RBLX Roblox Corp. Class A | 0.78% | 9,032,411 | $948.2M | Add +3.0% |
| VRSN Verisign Inc. | 0.74% | 3,097,003 | $894.4M | Add +32.9% |
| ANET Arista Networks Inc. | 0.74% | 8,742,112 | $892.9M | Add +13.2% |
| SNOW Snowflake Inc. | 0.66% | 3,584,128 | $802.0M | Add +13.0% |
| GE General Electric filed as GE AEROSPACE | 0.65% | 3,087,318 | $791.1M | Reduce -16.1% |
| BKNG Booking Holdings Inc. | 0.64% | 136,418 | $779.2M | Reduce -11.5% |
| JNJ Johnson & Johnson | 0.60% | 4,795,489 | $728.7M | Reduce -8.9% |
| MRK Merck & Co. Inc. | 0.57% | 8,787,272 | $690.2M | Add +13.3% |
| GM General Motors Co. | 0.55% | 13,503,858 | $664.5M | Add +0.3% |
| CME Cme Group Inc. | 0.54% | 2,392,180 | $655.3M | Reduce -14.1% |
| ADBE Adobe Inc. | 0.53% | 1,667,046 | $644.9M | Add +2.1% |
| DASH DoorDash Inc. Class A | 0.53% | 2,633,971 | $643.1M | Add +43.5% |
| FTNT Fortinet Inc. | 0.52% | 6,053,669 | $634.3M | Add +1.4% |
| PNC PNC Financial Services Group | 0.51% | 3,338,964 | $622.4M | Add +134.9% |
| MCK McKesson Corp. | 0.51% | 855,699 | $620.8M | Reduce -10.4% |
| PM Philip Morris International | 0.51% | 3,379,196 | $612.7M | Add +12.6% |
| COST Costco Wholesale Corp. | 0.49% | 602,948 | $596.5M | Add +37.3% |
| INCY Incyte Corp. | 0.46% | 8,201,455 | $558.5M | Add +21.8% |
| GOOG Alphabet Inc. Class C | 0.46% | 3,108,391 | $551.4M | Reduce -5.9% |
| GOOGL Alphabet Inc. Class A | 0.45% | 3,076,499 | $542.2M | Reduce -2.7% |
| GEV GE Vernova Inc. | 0.45% | 1,028,514 | $541.2M | Reduce -17.4% |
| ZM Zoom Communications Inc. | 0.44% | 6,869,804 | $535.2M | Reduce -7.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.44% | 1,091,409 | $530.2M | Add +6.0% |
| VEEV Veeva Systems Inc. Class A | 0.44% | 1,838,046 | $526.5M | Add +111.7% |
| TSLA Tesla Inc. | 0.43% | 1,643,085 | $521.9M | Add +43.4% |
| EIX Edison International | 0.42% | 9,962,902 | $510.6M | Add +83.5% |
| NOW ServiceNow Inc. | 0.42% | 489,345 | $502.0M | Add +3.3% |
| EXPE Expedia Group Inc. | 0.41% | 2,917,669 | $492.2M | Add +102.0% |
| C Citigroup Inc. | 0.39% | 5,534,254 | $471.1M | Reduce -16.4% |
| CB Chubb Ltd. | 0.38% | 1,598,583 | $456.5M | Add +13.3% |
| CNC Centene Corp. | 0.37% | 8,298,682 | $442.6M | Reduce -24.9% |
| TXRH Texas Roadhouse Inc. | 0.36% | 2,343,000 | $439.1M | Add +85.7% |
| T AT&T Inc. | 0.36% | 15,328,747 | $438.6M | Reduce -18.0% |
| V Visa Inc. Class A | 0.36% | 1,241,348 | $438.2M | Add +1.8% |
| MNST Monster Beverage Corp. | 0.35% | 6,849,036 | $423.0M | Add +467.0% |
| FIX Comfort Systems USA Inc. | 0.35% | 782,435 | $419.0M | Add +47.5% |
| LMT Lockheed Martin Corp. | 0.33% | 863,839 | $400.1M | Add +6.9% |
| EG Everest Group Ltd. | 0.33% | 1,180,615 | $399.6M | Add +65.6% |
| PANW Palo Alto Networks Inc. | 0.33% | 1,952,649 | $395.6M | Add +16.7% |
| WMT Walmart Inc. | 0.33% | 4,049,000 | $394.3M | Reduce -6.1% |
| TEAM Atlassian Corp. Class A | 0.32% | 1,933,851 | $392.3M | Add +12.7% |
| JPM JPMorgan Chase & Co. | 0.32% | 1,329,821 | $385.5M | Reduce -7.0% |
| TRV The Travelers Cos Inc. | 0.32% | 1,454,118 | $384.8M | Add +1.6% |
| AXS Axis Capital Holdings Ltd. | 0.32% | 3,716,201 | $383.7M | Add +12.9% |
| MANH Manhattan Associates Inc. | 0.32% | 1,928,053 | $380.7M | Add +181.6% |
| MSCI MSCI Inc. | 0.31% | 659,120 | $380.1M | Reduce -0.2% |
| LYFT LYFT Inc. Class A | 0.31% | 24,009,925 | $378.4M | Add +144.9% |
| TT Trane Technologies PLC | 0.31% | 866,645 | $376.2M | Reduce -2.1% |
| CI The Cigna Group | 0.31% | 1,136,394 | $372.6M | Reduce -1.2% |
| ZS Zscaler Inc. | 0.31% | 1,199,815 | $371.8M | Add +0.7% |
| NFLX Netflix Inc. | 0.30% | 275,312 | $367.1M | Reduce -2.9% |
| PLTR Palantir Technologies Inc. Class A | 0.30% | 2,678,278 | $365.1M | Add +19.6% |
| MA Mastercard Inc. Class A | 0.30% | 653,263 | $363.1M | Add +31.4% |
| UTHR United Therapeutics Corp. | 0.30% | 1,273,161 | $362.9M | Add +40.1% |
| NTNX Nutanix Inc. Class A | 0.30% | 4,712,266 | $360.2M | Add +30.8% |
| ABNB Airbnb Inc. Class A | 0.29% | 2,692,599 | $356.3M | Reduce -37.1% |
| PEP Pepsico Inc. | 0.29% | 2,680,691 | $351.2M | Add +38.6% |
| CSCO Cisco Systems Inc. | 0.29% | 5,010,468 | $347.3M | Reduce -7.5% |
| INTC Intel Corp. | 0.29% | 15,498,219 | $346.2M | Add +210.9% |
| PCG P G & E Corp. | 0.28% | 24,677,094 | $344.0M | Add +49.9% |
| FTI Technipfmc PLC | 0.28% | 9,938,410 | $342.3M | Add +13.8% |
| EXEL Exelixis Inc. | 0.28% | 7,606,079 | $335.2M | Add +10.3% |
| EME Emcor Group Inc. | 0.27% | 622,019 | $327.7M | Reduce -11.6% |
| ALL Allstate Corp. | 0.27% | 1,644,644 | $325.4M | Reduce -18.5% |
| COF Capital One Financial Corp. | 0.27% | 1,512,814 | $321.9M | Add +40.6% |
| RGLD Royal Gold Inc. | 0.26% | 1,820,435 | $319.1M | Add +8.2% |
| CRM Salesforce Inc. | 0.26% | 1,165,101 | $317.7M | Add +120.3% |
| EA Electronic Arts Inc. | 0.26% | 2,004,017 | $316.6M | Add +41.2% |
| ILMN Illumina Inc. | 0.26% | 3,295,880 | $313.3M | Add +55.4% |
| UNH Unitedhealth Group Inc. | 0.26% | 1,017,650 | $312.8M | Add +29.7% |
| TPR Tapestry Inc. | 0.26% | 3,546,969 | $311.4M | Add +36.0% |
| DKNG Draftkings Inc. Class A | 0.25% | 7,147,665 | $306.6M | Add +52.2% |
| BMRN Biomarin Pharmaceutical Inc. | 0.25% | 5,580,573 | $306.4M | Add +90.7% |
| APH Amphenol Corp. Class A | 0.25% | 3,093,952 | $302.4M | Reduce -5.5% |
| KMX Carmax Inc. | 0.25% | 4,457,340 | $298.1M | Add +195.3% |
| TOL Toll Brothers Inc. | 0.25% | 2,607,993 | $297.7M | Add +83.1% |
| ADSK Autodesk Inc. | 0.25% | 967,469 | $297.5M | Add +68.9% |
| DAL Delta Air Lines Inc. | 0.24% | 6,012,856 | $295.7M | Add +0.8% |
| NOC Northrop Grumman Corp. | 0.24% | 598,474 | $295.6M | Reduce -33.4% |
| ARW Arrow Electronics Inc. | 0.24% | 2,313,997 | $294.9M | Add +130.9% |
| JCI Johnson Controls Internation | 0.24% | 2,806,827 | $294.5M | Add +38.0% |
| NTRA Natera Inc. | 0.24% | 1,726,750 | $291.7M | Add +44.6% |
| HLT Hilton Worldwide Holdings Inc. | 0.24% | 1,081,602 | $287.1M | Add +33.1% |
| SYF Synchrony Financial | 0.24% | 4,266,366 | $284.7M | Add +6.1% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.23% | 3,117,445 | $284.0M | Reduce -3.9% |
| BMY Bristol-Myers Squibb Co. | 0.23% | 6,067,940 | $280.7M | Add +1.7% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.23% | 948,589 | $277.5M | Add +14.5% |
| TSN Tyson Foods Inc. Class A | 0.23% | 5,006,787 | $277.3M | Add +76.1% |
| MOH Molina Healthcare Inc. | 0.23% | 925,672 | $273.1M | Add +4.6% |
| GILD Gilead Sciences Inc. | 0.23% | 2,470,838 | $272.2M | Add +32.5% |
| CFG Citizens Financial Group | 0.23% | 6,079,239 | $272.0M | Reduce -17.5% |
| MO Altria Group Inc. | 0.22% | 4,643,814 | $271.4M | Reduce -16.0% |
| MMM 3M Co. | 0.22% | 1,781,080 | $271.0M | Reduce -26.8% |
| LLY Eli Lilly & Co. | 0.22% | 346,975 | $269.6M | Reduce -38.9% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $887K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 | 100,130 | $887K | No change |
Total filed on the 13F, all lines: $120.9B.
Portfolio Sells Q1 2025 → Q2 2025
| AAPL Apple Inc. | Reduce -0.5% | 1.69% | −0.60 |
| COP Conocophillips | Reduce -71.5% | 0.10% | −0.40 |
| CMCSA Comcast Corp. Class A | Reduce -50.1% | 0.22% | −0.34 |
| CNC Centene Corp. | Reduce -24.9% | 0.37% | −0.32 |
| JNJ Johnson & Johnson | Reduce -8.9% | 0.60% | −0.30 |
| LLY Eli Lilly & Co. | Reduce -38.9% | 0.22% | −0.25 |
| NOC Northrop Grumman Corp. | Reduce -33.4% | 0.24% | −0.23 |
| ABNB Airbnb Inc. Class A | Reduce -37.1% | 0.29% | −0.22 |
| CME Cme Group Inc. | Reduce -14.1% | 0.54% | −0.22 |
| ELV Elevance Health Inc. | Reduce -60.6% | 0.08% | −0.21 |
| OVV Ovintiv Inc. | Reduce -75.6% | 0.04% | −0.20 |
| BKR Baker Hughes Co. | Reduce -75.5% | 0.04% | −0.20 |
| COR Cencora Inc. | Reduce -38.2% | 0.22% | −0.19 |
| T AT&T Inc. | Reduce -18.0% | 0.36% | −0.18 |
| ALNY Alnylam Pharmaceuticals Inc. | Reduce -77.3% | 0.05% | −0.17 |
| PGR Progressive Corp. | Reduce -30.4% | 0.19% | −0.17 |
| MDT Medtronic PLC | Reduce -41.3% | 0.14% | −0.17 |
| ALL Allstate Corp. | Reduce -18.5% | 0.27% | −0.16 |
| CMI Cummins Inc. | Reduce -37.3% | 0.17% | −0.15 |
| GRMN Garmin Ltd. | Reduce -26.4% | 0.20% | −0.15 |
| MCK McKesson Corp. | Reduce -10.4% | 0.51% | −0.15 |
| XOM Exxon Mobil Corp. | Reduce -34.0% | 0.13% | −0.14 |
| MMM 3M Co. | Reduce -26.8% | 0.22% | −0.14 |
| MRVL Marvell Technology Inc. | Reduce -70.6% | 0.06% | −0.13 |
| CRBG Corebridge Financial Inc. | Reduce -45.7% | 0.13% | −0.13 |
| KR Kroger Co. | Reduce -38.6% | 0.14% | −0.13 |
| HUM Humana Inc. | Reduce -20.8% | 0.18% | −0.13 |
| AMZN Amazon.com Inc. | Reduce -6.8% | 1.01% | −0.13 |
| CVS CVS Health Corp. | Reduce -38.2% | 0.13% | −0.13 |
| GPN Global Payments Inc. | Reduce -74.0% | 0.03% | −0.12 |
| TAP Molson Coors Beverage Co. Class B | Reduce -24.9% | 0.10% | −0.12 |
| MO Altria Group Inc. | Reduce -16.0% | 0.22% | −0.11 |
| AIZ Assurant Inc. | Reduce -47.0% | 0.08% | −0.11 |
| ORLY O'reilly Automotive Inc. | Reduce -33.6% | 0.11% | −0.11 |
| ZM Zoom Communications Inc. | Reduce -7.2% | 0.44% | −0.11 |
| PG The Procter & Gamble Co. | Reduce -23.7% | 0.14% | −0.11 |
| REGN Regeneron Pharmaceuticals | Reduce -51.4% | 0.05% | −0.10 |
| AYI Acuity Inc. | Reduce -58.5% | 0.06% | −0.10 |
| META Meta Platforms Inc. Class A | Reduce -14.9% | 0.86% | −0.10 |
| QCOM Qualcomm Inc. | Reduce -29.7% | 0.14% | −0.10 |
| CBRE CBRE Group Inc. Class A | Reduce -51.0% | 0.07% | −0.09 |
| GE General Electric | Reduce -16.1% | 0.65% | −0.09 |
| BRBR Bellring Brands Inc. | Reduce -42.7% | 0.05% | −0.09 |
| HPE Hewlett Packard Enterprise | Reduce -48.5% | 0.11% | −0.09 |
| CL Colgate-Palmolive Co. | Reduce -24.5% | 0.12% | −0.09 |
| SLB SLB Ltd. | Reduce -89.0% | 0.01% | −0.08 |
| TRGP Targa Resources Corp. | Reduce -56.6% | 0.04% | −0.08 |
| CI The Cigna Group | Reduce -1.2% | 0.31% | −0.08 |
| VLO Valero Energy Corp. | Reduce -29.4% | 0.11% | −0.08 |
| C Citigroup Inc. | Reduce -16.4% | 0.39% | −0.08 |
Portfolio Buys Q1 2025 → Q2 2025
| NVDA Nvidia Corp. | Add +2.2% | 2.54% | +0.47 |
| AVGO Broadcom Inc. | Add +13.3% | 0.88% | +0.31 |
| MNST Monster Beverage Corp. | Add +467.0% | 0.35% | +0.28 |
| RBLX Roblox Corp. Class A | Add +3.0% | 0.78% | +0.26 |
| PNC PNC Financial Services Group | Add +134.9% | 0.51% | +0.26 |
| VEEV Veeva Systems Inc. Class A | Add +111.7% | 0.44% | +0.23 |
| DASH DoorDash Inc. Class A | Add +43.5% | 0.53% | +0.20 |
| LYFT LYFT Inc. Class A | Add +144.9% | 0.31% | +0.20 |
| MANH Manhattan Associates Inc. | Add +181.6% | 0.32% | +0.19 |
| SNOW Snowflake Inc. | Add +13.0% | 0.66% | +0.19 |
| MDB Mongodb Inc. | Add +2567.2% | 0.19% | +0.19 |
| FIX Comfort Systems USA Inc. | Add +47.5% | 0.35% | +0.18 |
| INTC Intel Corp. | Add +210.9% | 0.29% | +0.17 |
| EXPE Expedia Group Inc. | Add +102.0% | 0.41% | +0.16 |
| NWSA News Corp. Class A | Add +488.0% | 0.20% | +0.16 |
| FDX FedEx Corp. | Add +750.9% | 0.19% | +0.16 |
| JBHT Hunt (jb) Transprt SVCS Inc. | Add +411.5% | 0.21% | +0.16 |
| A Agilent Technologies Inc. | Add +424.1% | 0.20% | +0.15 |
| IT Gartner Inc. | Add +304.4% | 0.22% | +0.15 |
| TXRH Texas Roadhouse Inc. | Add +85.7% | 0.36% | +0.15 |
| MSFT Microsoft Corp. | Add +0.6% | 1.88% | +0.15 |
| TSLA Tesla Inc. | Add +43.4% | 0.43% | +0.14 |
| ARW Arrow Electronics Inc. | Add +130.9% | 0.24% | +0.14 |
| ANET Arista Networks Inc. | Add +13.2% | 0.74% | +0.14 |
| VRSN Verisign Inc. | Add +32.9% | 0.74% | +0.14 |
| KMX Carmax Inc. | Add +195.3% | 0.25% | +0.13 |
| DELL Dell Technologies -C | Add +628.5% | 0.14% | +0.12 |
| CRM Salesforce Inc. | Add +120.3% | 0.26% | +0.12 |
| CHWY Chewy Inc. Class A | Add +231.2% | 0.16% | +0.12 |
| PLTR Palantir Technologies Inc. Class A | Add +19.6% | 0.30% | +0.12 |
| DDOG Datadog Inc. Class A | Add +99.8% | 0.21% | +0.11 |
| MKTX Marketaxess Holdings Inc. | Add +485.6% | 0.14% | +0.11 |
| INTU Intuit Inc. | Add +117.8% | 0.19% | +0.11 |
| PSA Public Storage | Add +498.7% | 0.14% | +0.11 |
| VRT Vertiv Holdings Co. Class A | Add +41.4% | 0.21% | +0.11 |
| DOV Dover Corp. | Add +912.9% | 0.12% | +0.11 |
| WDAY Workday Inc. Class A | Add +415.6% | 0.13% | +0.10 |
| EVR Evercore Inc. Class A | Add +79.5% | 0.20% | +0.10 |
| FCX Freeport-McMoran Inc. | Add +205.0% | 0.15% | +0.10 |
| PEGA Pegasystems Inc. | Add +236.2% | 0.18% | +0.10 |
| TXT Textron Inc. | Add +144.1% | 0.18% | +0.10 |
| TOL Toll Brothers Inc. | Add +83.1% | 0.25% | +0.10 |
| ADSK Autodesk Inc. | Add +68.9% | 0.25% | +0.09 |
| DLTR Dollar Tree Inc. | Add +906.5% | 0.10% | +0.09 |
| EIX Edison International | Add +83.5% | 0.42% | +0.09 |
| DKNG Draftkings Inc. Class A | Add +52.2% | 0.25% | +0.09 |
| RHI Robert Half Inc. | Add +190.5% | 0.21% | +0.09 |
| AMCR Amcor PLC | Add +398.6% | 0.12% | +0.09 |
| ILMN Illumina Inc. | Add +55.4% | 0.26% | +0.09 |
| ASH Ashland Inc. | Add +284.3% | 0.14% | +0.09 |
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 |