AQR Capital Management
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Cliff Asness's AQR Capital Management reported 3,455 stock positions worth $156.0 billion. Its top holding was Nvidia (NVDA) at 2.6% of the portfolio, followed by Microsoft (MSFT, 2.1%) and Apple (AAPL, 1.8%). Compared with Q2 2025, it opened 336 new positions, sold out of 173, added to 2,080 and reduced 974. The biggest buy was Walmart (WMT, shares +188%) and the biggest sale Fortinet (FTNT, shares −61%).
- Most Recent 13F
- Q2 2026
- Notable People
- Cliff Asness
- Location
- Greenwich, CT
- CIK
- 0001167557
- Portfolio Value
- $156.0B (Q3 2025)
- SEC Filing
- 0001167557-25-000065 ↗ filed Nov 14, 2025
Holdings Value
Holdings 3,455 stocks · $156.0B
| NVDA Nvidia Corp. | 2.62% | 22,286,618 | $4.1B | Add +13.6% |
| MSFT Microsoft Corp. | 2.05% | 6,238,411 | $3.2B | Add +36.7% |
| AAPL Apple Inc. | 1.77% | 10,820,122 | $2.8B | Add +6.1% |
| AMZN Amazon.com Inc. | 0.98% | 7,003,479 | $1.5B | Add +25.8% |
| AVGO Broadcom Inc. | 0.90% | 4,293,106 | $1.4B | Add +10.7% |
| RBLX Roblox Corp. Class A | 0.84% | 9,697,538 | $1.3B | Add +7.4% |
| META Meta Platforms Inc. Class A | 0.81% | 1,732,762 | $1.3B | Add +23.2% |
| WMT Walmart Inc. | 0.77% | 11,663,172 | $1.2B | Add +188.1% |
| GOOGL Alphabet Inc. Class A | 0.64% | 4,120,727 | $991.7M | Add +33.9% |
| VRSN Verisign Inc. | 0.63% | 3,523,495 | $985.1M | Add +13.8% |
| GOOG Alphabet Inc. Class C | 0.61% | 3,919,751 | $944.7M | Add +26.1% |
| ADBE Adobe Inc. | 0.59% | 2,587,399 | $912.7M | Add +55.2% |
| ANET Arista Networks Inc. | 0.58% | 6,261,063 | $904.1M | Reduce -28.4% |
| PLTR Palantir Technologies Inc. Class A | 0.57% | 4,902,606 | $894.3M | Add +83.0% |
| PNC PNC Financial Services Group | 0.57% | 4,425,905 | $889.3M | Add +32.5% |
| GE General Electric filed as GE AEROSPACE | 0.56% | 2,961,084 | $874.5M | Reduce -4.1% |
| GM General Motors Co. | 0.56% | 14,252,689 | $869.0M | Add +5.5% |
| MRK Merck & Co. Inc. | 0.55% | 10,658,099 | $851.4M | Add +21.3% |
| TSLA Tesla Inc. | 0.54% | 1,938,463 | $849.6M | Add +18.0% |
| INTC Intel Corp. | 0.54% | 25,001,621 | $838.8M | Add +61.3% |
| PEP Pepsico Inc. | 0.53% | 5,916,417 | $830.9M | Add +120.7% |
| JNJ Johnson & Johnson | 0.51% | 4,326,452 | $793.0M | Reduce -9.8% |
| CB Chubb Ltd. | 0.50% | 2,798,546 | $785.5M | Add +75.1% |
| BKNG Booking Holdings Inc. | 0.50% | 144,528 | $780.3M | Add +5.9% |
| SNOW Snowflake Inc. | 0.50% | 3,459,772 | $779.8M | Reduce -3.5% |
| EXPE Expedia Group Inc. | 0.50% | 3,645,732 | $779.3M | Add +24.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.47% | 1,465,864 | $736.9M | Add +34.3% |
| VEEV Veeva Systems Inc. Class A | 0.45% | 2,412,210 | $706.1M | Add +31.2% |
| PCG P G & E Corp. | 0.45% | 46,590,013 | $702.6M | Add +88.8% |
| GEV GE Vernova Inc. | 0.45% | 1,158,362 | $700.6M | Add +12.6% |
| ZM Zoom Communications Inc. | 0.45% | 8,477,057 | $699.4M | Add +23.4% |
| EG Everest Group Ltd. | 0.45% | 2,011,033 | $695.3M | Add +70.3% |
| FIX Comfort Systems USA Inc. | 0.43% | 835,560 | $678.5M | Add +6.8% |
| INCY Incyte Corp. | 0.43% | 7,923,511 | $667.6M | Reduce -3.4% |
| CME Cme Group Inc. | 0.42% | 2,431,787 | $657.0M | Add +1.7% |
| FDX FedEx Corp. | 0.41% | 2,733,905 | $638.2M | Add +169.2% |
| MCK McKesson Corp. | 0.40% | 829,038 | $631.0M | Reduce -3.1% |
| MU Micron Technology Inc. | 0.39% | 3,627,022 | $606.9M | Add +411.9% |
| EIX Edison International | 0.38% | 10,763,984 | $595.0M | Add +8.0% |
| ZS Zscaler Inc. | 0.37% | 1,941,571 | $576.1M | Add +61.8% |
| LYFT LYFT Inc. Class A | 0.36% | 25,783,363 | $567.5M | Add +7.4% |
| GD General Dynamics Corp. | 0.36% | 1,663,847 | $567.4M | Add +118.3% |
| MOH Molina Healthcare Inc. | 0.36% | 2,934,130 | $561.5M | Add +217.0% |
| JPM JPMorgan Chase & Co. | 0.35% | 1,723,598 | $543.7M | Add +29.6% |
| C Citigroup Inc. | 0.34% | 5,272,243 | $535.1M | Reduce -4.7% |
| PM Philip Morris International | 0.34% | 3,245,746 | $526.3M | Reduce -4.0% |
| FTI Technipfmc PLC | 0.34% | 13,316,569 | $525.3M | Add +34.0% |
| BBY Best Buy Co. Inc. | 0.34% | 6,997,871 | $525.1M | Add +99.8% |
| CNC Centene Corp. | 0.34% | 14,654,834 | $522.9M | Add +76.6% |
| ABNB Airbnb Inc. Class A | 0.33% | 4,269,937 | $518.5M | Add +58.6% |
| MEDP Medpace Holdings Inc. | 0.33% | 1,025,410 | $518.2M | Add +65.1% |
| TRV The Travelers Cos Inc. | 0.32% | 1,785,288 | $496.9M | Add +22.8% |
| NTNX Nutanix Inc. Class A | 0.32% | 6,626,271 | $492.9M | Add +40.6% |
| MA Mastercard Inc. Class A | 0.31% | 861,293 | $489.9M | Add +31.8% |
| TPR Tapestry Inc. | 0.31% | 4,307,615 | $487.7M | Add +21.4% |
| LRCX Lam Research Corp. | 0.30% | 3,541,230 | $472.3M | Add +138.6% |
| APH Amphenol Corp. Class A | 0.30% | 3,810,841 | $468.5M | Add +23.2% |
| T AT&T Inc. | 0.29% | 16,133,576 | $455.6M | Add +5.3% |
| DASH DoorDash Inc. Class A | 0.28% | 1,630,347 | $442.6M | Reduce -38.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.28% | 3,061,312 | $441.5M | Add +73.7% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.28% | 4,023,663 | $438.4M | Add +29.1% |
| DKNG Draftkings Inc. Class A | 0.28% | 11,685,672 | $437.0M | Add +63.5% |
| COF Capital One Financial Corp. | 0.28% | 2,041,847 | $434.1M | Add +35.0% |
| AZO AutoZone Inc. | 0.28% | 101,185 | $432.1M | Add +80.8% |
| PANW Palo Alto Networks Inc. | 0.27% | 2,096,542 | $426.9M | Add +7.4% |
| BMY Bristol-Myers Squibb Co. | 0.27% | 9,463,981 | $426.4M | Add +56.0% |
| JBHT Hunt (jb) Transprt SVCS Inc. | 0.27% | 3,189,566 | $426.1M | Add +77.2% |
| MANH Manhattan Associates Inc. | 0.27% | 2,077,132 | $425.8M | Add +7.7% |
| UTHR United Therapeutics Corp. | 0.27% | 986,478 | $413.5M | Reduce -22.5% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.26% | 4,497,115 | $412.6M | Add +103.5% |
| CHWY Chewy Inc. Class A | 0.26% | 10,196,146 | $407.9M | Add +120.2% |
| REGN Regeneron Pharmaceuticals | 0.26% | 721,354 | $405.6M | Add +528.7% |
| EME Emcor Group Inc. | 0.26% | 627,507 | $405.3M | Add +0.9% |
| NFLX Netflix Inc. | 0.25% | 335,011 | $397.2M | Add +21.7% |
| UNH Unitedhealth Group Inc. | 0.25% | 1,145,580 | $395.6M | Add +12.6% |
| NBIX Neurocrine Biosciences Inc. | 0.25% | 2,773,648 | $388.4M | Add +83.7% |
| NTRA Natera Inc. | 0.25% | 2,400,065 | $386.3M | Add +39.0% |
| VZ Verizon Communications Inc. | 0.25% | 8,848,766 | $386.0M | Add +50.4% |
| CSCO Cisco Systems Inc. | 0.25% | 5,637,731 | $385.6M | Add +12.5% |
| ARW Arrow Electronics Inc. | 0.25% | 3,185,582 | $384.8M | Add +37.7% |
| INTU Intuit Inc. | 0.25% | 561,583 | $383.5M | Add +88.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.25% | 574,133 | $382.5M | Add +43.9% |
| THC Tenet Healthcare Corp. | 0.24% | 1,876,423 | $381.0M | Add +62.3% |
| PG The Procter & Gamble Co. | 0.24% | 2,483,354 | $380.5M | Add +126.2% |
| EXEL Exelixis Inc. | 0.24% | 9,181,359 | $379.2M | Add +20.7% |
| BAH Booz Allen Hamilton Holdings | 0.24% | 3,812,243 | $377.5M | Add +48.6% |
| ORCL Oracle Corp. | 0.24% | 1,353,408 | $376.9M | Add +160.7% |
| BPOP Popular Inc. | 0.24% | 2,962,871 | $376.3M | Add +56.1% |
| TSN Tyson Foods Inc. Class A | 0.23% | 6,726,796 | $363.9M | Add +34.4% |
| V Visa Inc. Class A | 0.23% | 1,058,721 | $361.4M | Reduce -14.7% |
| TXRH Texas Roadhouse Inc. | 0.22% | 2,098,417 | $348.5M | Reduce -10.4% |
| MO Altria Group Inc. | 0.22% | 5,272,845 | $346.4M | Add +13.6% |
| COST Costco Wholesale Corp. | 0.22% | 377,416 | $345.6M | Reduce -37.4% |
| NOW ServiceNow Inc. | 0.22% | 372,789 | $343.1M | Reduce -23.8% |
| TOL Toll Brothers Inc. | 0.22% | 2,483,339 | $343.0M | Reduce -4.8% |
| CHTR Charter Communications Inc. Class A | 0.22% | 1,244,034 | $342.2M | Add +826.1% |
| NEM Newmont Corp. | 0.22% | 4,056,735 | $342.0M | Add +62.0% |
| ALNY Alnylam Pharmaceuticals Inc. | 0.22% | 744,008 | $336.0M | Add +295.2% |
| AXS Axis Capital Holdings Ltd. | 0.21% | 3,508,691 | $335.3M | Reduce -5.6% |
| CCK Crown Holdings Inc. | 0.21% | 3,467,550 | $333.2M | Add +36.9% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $1.2M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 | 100,130 | $1.2M | No change |
Total filed on the 13F, all lines: $156.0B.
Portfolio Sells Q2 2025 → Q3 2025
| FTNT Fortinet Inc. | Reduce -61.5% | 0.13% | −0.40 |
| COST Costco Wholesale Corp. | Reduce -37.4% | 0.22% | −0.27 |
| DASH DoorDash Inc. Class A | Reduce -38.1% | 0.28% | −0.25 |
| MNST Monster Beverage Corp. | Reduce -53.1% | 0.14% | −0.21 |
| NOW ServiceNow Inc. | Reduce -23.8% | 0.22% | −0.20 |
| PM Philip Morris International | Reduce -4.0% | 0.34% | −0.17 |
| SNOW Snowflake Inc. | Reduce -3.5% | 0.50% | −0.16 |
| ANET Arista Networks Inc. | Reduce -28.4% | 0.58% | −0.16 |
| CI The Cigna Group | Reduce -28.1% | 0.15% | −0.16 |
| KMX Carmax Inc. | Reduce -29.3% | 0.09% | −0.16 |
| RGLD Royal Gold Inc. | Reduce -48.6% | 0.12% | −0.14 |
| TXRH Texas Roadhouse Inc. | Reduce -10.4% | 0.22% | −0.14 |
| HLT Hilton Worldwide Holdings Inc. | Reduce -45.0% | 0.10% | −0.14 |
| LMT Lockheed Martin Corp. | Reduce -27.7% | 0.20% | −0.13 |
| V Visa Inc. Class A | Reduce -14.7% | 0.23% | −0.13 |
| TT Trane Technologies PLC | Reduce -21.2% | 0.18% | −0.13 |
| MSCI MSCI Inc. | Reduce -20.9% | 0.19% | −0.12 |
| ADSK Autodesk Inc. | Reduce -35.9% | 0.13% | −0.12 |
| BRKR Bruker Corp. | Reduce -98.9% | 0.00% | −0.11 |
| EA Electronic Arts Inc. | Reduce -41.3% | 0.15% | −0.11 |
| ABT Abbott Laboratories | Reduce -37.8% | 0.10% | −0.11 |
| MCK McKesson Corp. | Reduce -3.1% | 0.40% | −0.11 |
| PYPL PayPal Holdings Inc. | Reduce -35.1% | 0.09% | −0.11 |
| HUM Humana Inc. | Reduce -49.0% | 0.08% | −0.11 |
| AXS Axis Capital Holdings Ltd. | Reduce -5.6% | 0.21% | −0.10 |
| BJ Bj's Wholesale Club Holdings | Reduce -86.7% | 0.01% | −0.10 |
| JNJ Johnson & Johnson | Reduce -9.8% | 0.51% | −0.09 |
| AMAT Applied Materials Inc. | Reduce -50.2% | 0.07% | −0.09 |
| QFIN Qfin Holdings Inc.-ADR | Sold out | 0.00% | −0.09 |
| GE General Electric | Reduce -4.1% | 0.56% | −0.09 |
| FIS Fidelity National Info Serv | Reduce -28.5% | 0.07% | −0.09 |
| UPS United Parcel Service Class B | Reduce -18.0% | 0.10% | −0.09 |
| BSX Boston Scientific Corp. | Reduce -36.4% | 0.07% | −0.09 |
| DAL Delta Air Lines Inc. | Reduce -29.1% | 0.16% | −0.09 |
| CTAS Cintas Corp. | Reduce -35.9% | 0.07% | −0.09 |
| AMCR Amcor PLC | Reduce -60.3% | 0.03% | −0.09 |
| KMB Kimberly-Clark Corp. | Reduce -68.5% | 0.03% | −0.09 |
| CRM Salesforce Inc. | Reduce -1.0% | 0.18% | −0.09 |
| JCI Johnson Controls Internation | Reduce -20.5% | 0.16% | −0.09 |
| FLUT Flutter Entertainment PLC-Di | Reduce -69.5% | 0.02% | −0.09 |
| DRI Darden Restaurants Inc. | Reduce -49.0% | 0.04% | −0.09 |
| DDOG Datadog Inc. Class A | Reduce -28.5% | 0.12% | −0.08 |
| EEFT Euronet Worldwide Inc. | Reduce -62.8% | 0.03% | −0.08 |
| MMM 3M Co. | Reduce -19.0% | 0.14% | −0.08 |
| WEN The Wendy's Co. | Reduce -38.8% | 0.05% | −0.08 |
| WING Wingstop Inc. | Reduce -43.9% | 0.04% | −0.08 |
| ULTA Ulta Beauty Inc. | Reduce -37.5% | 0.10% | −0.08 |
| USFD US Foods Holding Corp. | Reduce -25.8% | 0.11% | −0.08 |
| MDB Mongodb Inc. | Reduce -47.9% | 0.12% | −0.08 |
| PATH Uipath Inc. Class A | Reduce -54.6% | 0.04% | −0.08 |
Portfolio Buys Q2 2025 → Q3 2025
| WMT Walmart Inc. | Add +188.1% | 0.77% | +0.44 |
| MU Micron Technology Inc. | Add +411.9% | 0.39% | +0.32 |
| PLTR Palantir Technologies Inc. Class A | Add +83.0% | 0.57% | +0.27 |
| INTC Intel Corp. | Add +61.3% | 0.54% | +0.25 |
| PEP Pepsico Inc. | Add +120.7% | 0.53% | +0.24 |
| FDX FedEx Corp. | Add +169.2% | 0.41% | +0.22 |
| REGN Regeneron Pharmaceuticals | Add +528.7% | 0.26% | +0.21 |
| GOOGL Alphabet Inc. Class A | Add +33.9% | 0.64% | +0.19 |
| LRCX Lam Research Corp. | Add +138.6% | 0.30% | +0.18 |
| PNFP Pinnacle Financial Partners | Add +1697.4% | 0.20% | +0.18 |
| GD General Dynamics Corp. | Add +118.3% | 0.36% | +0.18 |
| CHTR Charter Communications Inc. Class A | Add +826.1% | 0.22% | +0.17 |
| MSFT Microsoft Corp. | Add +36.7% | 2.05% | +0.17 |
| MEDP Medpace Holdings Inc. | Add +65.1% | 0.33% | +0.17 |
| PCG P G & E Corp. | Add +88.8% | 0.45% | +0.17 |
| ALNY Alnylam Pharmaceuticals Inc. | Add +295.2% | 0.22% | +0.16 |
| MOS The Mosaic Co. | Add +632.6% | 0.19% | +0.15 |
| GOOG Alphabet Inc. Class C | Add +26.1% | 0.61% | +0.15 |
| ORCL Oracle Corp. | Add +160.7% | 0.24% | +0.15 |
| TFX Teleflex Inc. | Add +478.1% | 0.18% | +0.14 |
| BBY Best Buy Co. Inc. | Add +99.8% | 0.34% | +0.14 |
| MOH Molina Healthcare Inc. | Add +217.0% | 0.36% | +0.13 |
| PSX Phillips 66 | Add +424.7% | 0.17% | +0.13 |
| MTCH Match Group Inc. | Add +1163.7% | 0.14% | +0.13 |
| CB Chubb Ltd. | Add +75.1% | 0.50% | +0.13 |
| DG Dollar General Corp. | Add +416.4% | 0.17% | +0.12 |
| BWA Borgwarner Inc. | Add +119.7% | 0.21% | +0.12 |
| ROKU Roku Inc. | Add +275.5% | 0.17% | +0.12 |
| EG Everest Group Ltd. | Add +70.3% | 0.45% | +0.12 |
| ACN Accenture PLC Class A | Add +268.4% | 0.20% | +0.11 |
| TSLA Tesla Inc. | Add +18.0% | 0.54% | +0.11 |
| AZO AutoZone Inc. | Add +80.8% | 0.28% | +0.11 |
| MGM MGM Resorts International | Add +202.5% | 0.19% | +0.11 |
| MLI Mueller Industries Inc. | Add +181.4% | 0.17% | +0.11 |
| TJX TJX Companies Inc. | Add +73.7% | 0.28% | +0.10 |
| STE Steris PLC | Add +178.6% | 0.19% | +0.10 |
| NEM Newmont Corp. | Add +62.0% | 0.22% | +0.10 |
| PG The Procter & Gamble Co. | Add +126.2% | 0.24% | +0.10 |
| CHWY Chewy Inc. Class A | Add +120.2% | 0.26% | +0.10 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +103.5% | 0.26% | +0.10 |
| EXPE Expedia Group Inc. | Add +24.9% | 0.50% | +0.09 |
| NBIX Neurocrine Biosciences Inc. | Add +83.7% | 0.25% | +0.09 |
| CPRT Copart Inc. | Add +298.2% | 0.14% | +0.09 |
| ADT Adt Inc. | Add +124.6% | 0.20% | +0.09 |
| HII Huntington Ingalls Industrie | Add +509.2% | 0.11% | +0.09 |
| KMI Kinder Morgan Inc. | Add +431.9% | 0.12% | +0.09 |
| FIX Comfort Systems USA Inc. | Add +6.8% | 0.43% | +0.09 |
| ELV Elevance Health Inc. | Add +216.3% | 0.17% | +0.09 |
| OVV Ovintiv Inc. | Add +263.8% | 0.13% | +0.09 |
| XOM Exxon Mobil Corp. | Add +105.4% | 0.21% | +0.08 |
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 |