AQR Capital Management
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Cliff Asness's AQR Capital Management reported 3,558 stock positions worth $190.6 billion. Its top holding was Nvidia (NVDA) at 2.6% of the portfolio, followed by Apple (AAPL, 1.8%) and Microsoft (MSFT, 1.6%). Compared with Q3 2025, it opened 203 new positions, sold out of 104, added to 2,103 and reduced 1,162. The biggest buy was Bristol-Myers Squibb (BMY, shares +173%) and the biggest sale Molina Healthcare (MOH, shares −86%).
- Most Recent 13F
- Q2 2026
- Notable People
- Cliff Asness
- Location
- Greenwich, CT
- CIK
- 0001167557
- Portfolio Value
- $190.6B (Q4 2025)
- SEC Filing
- 0001085146-26-000240 ↗ filed Feb 17, 2026
Holdings Value
Holdings 3,558 stocks · $190.6B
| NVDA Nvidia Corp. | 2.57% | 26,239,002 | $4.9B | Add +17.7% |
| AAPL Apple Inc. | 1.78% | 12,501,523 | $3.4B | Add +15.5% |
| MSFT Microsoft Corp. | 1.59% | 6,265,601 | $3.0B | Add +0.4% |
| AMZN Amazon.com Inc. | 1.08% | 8,922,824 | $2.1B | Add +27.4% |
| AVGO Broadcom Inc. | 0.81% | 4,488,450 | $1.6B | Add +4.5% |
| GOOG Alphabet Inc. Class C | 0.75% | 4,553,106 | $1.4B | Add +16.2% |
| GOOGL Alphabet Inc. Class A | 0.74% | 4,504,443 | $1.4B | Add +9.3% |
| BMY Bristol-Myers Squibb Co. | 0.73% | 25,796,905 | $1.4B | Add +172.6% |
| META Meta Platforms Inc. Class A | 0.72% | 2,090,071 | $1.4B | Add +20.6% |
| WMT Walmart Inc. | 0.72% | 12,373,333 | $1.4B | Add +6.1% |
| CB Chubb Ltd. | 0.69% | 4,241,881 | $1.3B | Add +51.6% |
| CNC Centene Corp. | 0.69% | 31,798,738 | $1.3B | Add +117.0% |
| TEAM Atlassian Corp. Class A | 0.66% | 7,749,694 | $1.3B | Add +291.4% |
| PCG P G & E Corp. | 0.63% | 74,844,566 | $1.2B | Add +60.6% |
| MRK Merck & Co. Inc. | 0.62% | 11,249,363 | $1.2B | Add +5.5% |
| EIX Edison International | 0.58% | 18,285,152 | $1.1B | Add +69.9% |
| ZM Zoom Communications Inc. | 0.55% | 12,195,243 | $1.1B | Add +43.9% |
| MU Micron Technology Inc. | 0.53% | 3,534,140 | $1.0B | Reduce -2.6% |
| VRSN Verisign Inc. | 0.51% | 4,020,169 | $976.7M | Add +14.1% |
| ANET Arista Networks Inc. | 0.51% | 7,346,710 | $962.6M | Add +17.3% |
| TSLA Tesla Inc. | 0.50% | 2,127,714 | $956.9M | Add +9.8% |
| EXPE Expedia Group Inc. | 0.50% | 3,369,266 | $954.5M | Reduce -7.6% |
| BKNG Booking Holdings Inc. | 0.50% | 177,978 | $953.1M | Add +23.1% |
| FIX Comfort Systems USA Inc. | 0.50% | 1,019,922 | $951.9M | Add +22.1% |
| PEP Pepsico Inc. | 0.50% | 6,585,282 | $945.1M | Add +11.3% |
| GE General Electric filed as GE AEROSPACE | 0.49% | 3,007,830 | $926.5M | Add +1.6% |
| ABNB Airbnb Inc. Class A | 0.48% | 6,762,784 | $917.8M | Add +58.4% |
| GM General Motors Co. | 0.46% | 10,883,789 | $885.1M | Reduce -23.6% |
| PNC PNC Financial Services Group | 0.45% | 4,128,991 | $861.8M | Reduce -6.7% |
| FDX FedEx Corp. | 0.44% | 2,923,679 | $844.5M | Add +6.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.44% | 1,674,728 | $841.8M | Add +14.3% |
| RBLX Roblox Corp. Class A | 0.44% | 10,312,837 | $833.0M | Add +6.3% |
| COF Capital One Financial Corp. | 0.43% | 3,366,692 | $816.0M | Add +64.9% |
| ADBE Adobe Inc. | 0.43% | 2,330,096 | $815.5M | Reduce -9.9% |
| JNJ Johnson & Johnson | 0.42% | 3,876,221 | $802.2M | Reduce -10.4% |
| PLTR Palantir Technologies Inc. Class A | 0.41% | 4,424,981 | $786.5M | Reduce -9.7% |
| REGN Regeneron Pharmaceuticals | 0.40% | 995,710 | $768.5M | Add +38.0% |
| MEDP Medpace Holdings Inc. | 0.40% | 1,349,703 | $758.1M | Add +31.6% |
| MCK McKesson Corp. | 0.40% | 918,785 | $753.7M | Add +10.8% |
| FTI Technipfmc PLC | 0.39% | 16,866,408 | $751.6M | Add +26.7% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.39% | 4,814,467 | $739.6M | Add +57.3% |
| NEM Newmont Corp. | 0.39% | 7,402,278 | $739.1M | Add +82.5% |
| JBHT Hunt (jb) Transprt SVCS Inc. | 0.38% | 3,755,171 | $729.8M | Add +17.7% |
| GEV GE Vernova Inc. | 0.38% | 1,104,393 | $721.8M | Reduce -4.7% |
| SNOW Snowflake Inc. | 0.38% | 3,276,719 | $718.8M | Reduce -5.3% |
| C Citigroup Inc. | 0.37% | 6,059,694 | $707.1M | Add +14.9% |
| GD General Dynamics Corp. | 0.36% | 2,062,944 | $694.5M | Add +24.0% |
| INCY Incyte Corp. | 0.35% | 6,720,024 | $663.7M | Reduce -15.2% |
| LRCX Lam Research Corp. | 0.33% | 3,709,684 | $635.0M | Add +4.8% |
| LMT Lockheed Martin Corp. | 0.33% | 1,293,823 | $625.8M | Add +107.3% |
| UTHR United Therapeutics Corp. | 0.33% | 1,281,699 | $624.5M | Add +29.9% |
| BBY Best Buy Co. Inc. | 0.32% | 9,158,839 | $613.0M | Add +30.9% |
| NOW ServiceNow Inc. | 0.32% | 3,926,618 | $601.5M | Add +110.7% |
| INTC Intel Corp. | 0.32% | 16,285,185 | $600.9M | Reduce -34.9% |
| EXEL Exelixis Inc. | 0.31% | 13,658,388 | $598.6M | Add +48.8% |
| NTRA Natera Inc. | 0.31% | 2,599,299 | $595.5M | Add +8.3% |
| LVS Las Vegas Sands Corp. | 0.31% | 9,098,518 | $592.2M | Add +222.7% |
| NTNX Nutanix Inc. Class A | 0.31% | 11,452,714 | $592.0M | Add +72.8% |
| ILMN Illumina Inc. | 0.30% | 4,426,126 | $580.5M | Add +30.3% |
| ESTC Elastic NV | 0.30% | 7,545,081 | $569.2M | Add +153.4% |
| DKNG Draftkings Inc. Class A | 0.30% | 16,474,009 | $567.7M | Add +41.0% |
| PM Philip Morris International | 0.30% | 3,534,785 | $567.0M | Add +8.9% |
| EG Everest Group Ltd. | 0.30% | 1,666,087 | $565.4M | Reduce -17.1% |
| CME Cme Group Inc. | 0.29% | 2,007,043 | $548.1M | Reduce -17.5% |
| LLY Eli Lilly & Co. | 0.29% | 506,839 | $544.7M | Add +12.3% |
| AMP Ameriprise Financial Inc. | 0.28% | 1,085,889 | $532.5M | Add +84.2% |
| UPS United Parcel Service Class B | 0.27% | 5,200,135 | $515.8M | Add +175.7% |
| WDC Western Digital Corp. | 0.27% | 2,972,703 | $512.1M | Add +70.5% |
| PNFP Pinnacle Financial Partners | 0.27% | 5,330,170 | $508.6M | Add +63.1% |
| VEEV Veeva Systems Inc. Class A | 0.27% | 2,265,875 | $505.8M | Reduce -6.1% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.26% | 4,280,883 | $497.0M | Add +6.4% |
| LYFT LYFT Inc. Class A | 0.26% | 25,768,869 | $496.6M | Reduce -0.1% |
| TRV The Travelers Cos Inc. | 0.26% | 1,710,426 | $496.1M | Reduce -4.2% |
| DG Dollar General Corp. | 0.26% | 3,734,500 | $495.8M | Add +47.9% |
| AXS Axis Capital Holdings Ltd. | 0.26% | 4,592,270 | $491.8M | Add +30.9% |
| ACN Accenture PLC Class A | 0.26% | 1,823,851 | $489.3M | Add +45.6% |
| MA Mastercard Inc. Class A | 0.25% | 849,404 | $484.9M | Reduce -1.4% |
| APH Amphenol Corp. Class A | 0.25% | 3,587,990 | $484.9M | Reduce -5.8% |
| IQV Iqvia Holdings Inc. | 0.25% | 2,139,228 | $482.2M | Add +20.3% |
| XOM Exxon Mobil Corp. | 0.25% | 3,984,577 | $479.5M | Add +36.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.25% | 702,909 | $479.3M | Add +22.4% |
| IT Gartner Inc. | 0.25% | 1,892,004 | $477.3M | Add +51.9% |
| HUBS HubSpot Inc. | 0.25% | 1,188,981 | $477.1M | Add +117.6% |
| TSN Tyson Foods Inc. Class A | 0.25% | 8,114,441 | $475.7M | Add +20.6% |
| PANW Palo Alto Networks Inc. | 0.25% | 2,574,751 | $474.3M | Add +22.8% |
| TPR Tapestry Inc. | 0.25% | 3,666,736 | $468.5M | Reduce -14.9% |
| TXT Textron Inc. | 0.24% | 5,357,182 | $467.0M | Add +51.1% |
| MLI Mueller Industries Inc. | 0.24% | 4,054,565 | $465.5M | Add +56.8% |
| MKTX Marketaxess Holdings Inc. | 0.24% | 2,558,097 | $463.7M | Add +169.0% |
| NBIX Neurocrine Biosciences Inc. | 0.24% | 3,271,706 | $462.7M | Add +18.0% |
| T AT&T Inc. | 0.24% | 18,578,846 | $461.5M | Add +15.2% |
| JPM JPMorgan Chase & Co. | 0.24% | 1,410,392 | $454.5M | Reduce -18.2% |
| CFG Citizens Financial Group | 0.24% | 7,722,559 | $451.1M | Add +56.9% |
| THC Tenet Healthcare Corp. | 0.24% | 2,256,539 | $448.4M | Add +20.3% |
| TXRH Texas Roadhouse Inc. | 0.23% | 2,674,102 | $443.9M | Add +27.4% |
| FCX Freeport-McMoran Inc. | 0.23% | 8,679,316 | $440.8M | Add +54.6% |
| CI The Cigna Group | 0.23% | 1,598,091 | $439.8M | Add +95.7% |
| PGR Progressive Corp. | 0.23% | 1,909,426 | $434.8M | Add +55.7% |
| NYT New York Times Co. Class A | 0.23% | 6,241,489 | $433.3M | Add +35.3% |
| DAL Delta Air Lines Inc. | 0.22% | 6,155,776 | $426.4M | Add +44.3% |
Other holdings (4): bonds, preferreds, convertibles and warrants · $149K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| OPENW Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 65,256 | $59K | Add +789.5% |
| OPENL Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 65,256 | $34K | New |
| GME.WS Gamestop Corp. | *W EXP 10/30/202 | 10,141 | $31K | Add +482.9% |
| OPENZ Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | 65,256 | $26K | New |
Total filed on the 13F, all lines: $190.6B.
Portfolio Sells Q3 2025 → Q4 2025
| MOH Molina Healthcare Inc. | Reduce -86.0% | 0.04% | −0.32 |
| INTC Intel Corp. | Reduce -34.9% | 0.32% | −0.22 |
| DASH DoorDash Inc. Class A | Reduce -58.8% | 0.08% | −0.20 |
| VEEV Veeva Systems Inc. Class A | Reduce -6.1% | 0.27% | −0.19 |
| ZS Zscaler Inc. | Reduce -17.6% | 0.19% | −0.18 |
| AZO AutoZone Inc. | Reduce -46.1% | 0.10% | −0.18 |
| PLTR Palantir Technologies Inc. Class A | Reduce -9.7% | 0.41% | −0.16 |
| ADBE Adobe Inc. | Reduce -9.9% | 0.43% | −0.16 |
| BAH Booz Allen Hamilton Holdings | Reduce -49.2% | 0.09% | −0.16 |
| GRMN Garmin Ltd. | Reduce -58.8% | 0.06% | −0.15 |
| INTU Intuit Inc. | Reduce -50.4% | 0.10% | −0.15 |
| EG Everest Group Ltd. | Reduce -17.1% | 0.30% | −0.15 |
| CME Cme Group Inc. | Reduce -17.5% | 0.29% | −0.13 |
| ARW Arrow Electronics Inc. | Reduce -37.3% | 0.12% | −0.13 |
| UNH Unitedhealth Group Inc. | Reduce -37.4% | 0.12% | −0.13 |
| PSA Public Storage | Reduce -61.3% | 0.05% | −0.13 |
| NFLX Netflix Inc. | Reduce -20.9% | 0.13% | −0.12 |
| SNOW Snowflake Inc. | Reduce -5.3% | 0.38% | −0.12 |
| ARE Alexandria Real Estate Equit | Reduce -77.2% | 0.01% | −0.12 |
| PNC PNC Financial Services Group | Reduce -6.7% | 0.45% | −0.12 |
| HOOD Robinhood Markets Inc. Class A | Reduce -34.4% | 0.09% | −0.11 |
| JPM JPMorgan Chase & Co. | Reduce -18.2% | 0.24% | −0.11 |
| NWSA News Corp. Class A | Reduce -43.3% | 0.07% | −0.11 |
| CHTR Charter Communications Inc. Class A | Reduce -15.0% | 0.12% | −0.10 |
| LYFT LYFT Inc. Class A | Reduce -0.1% | 0.26% | −0.10 |
| GM General Motors Co. | Reduce -23.6% | 0.46% | −0.09 |
| FFIV F5 Inc. | Reduce -25.0% | 0.08% | −0.09 |
| ZTS Zoetis Inc. | Reduce -47.8% | 0.05% | −0.09 |
| PG The Procter & Gamble Co. | Reduce -17.1% | 0.15% | −0.09 |
| MOS The Mosaic Co. | Reduce -8.1% | 0.10% | −0.09 |
| JNJ Johnson & Johnson | Reduce -10.4% | 0.42% | −0.09 |
| TT Trane Technologies PLC | Reduce -25.2% | 0.10% | −0.08 |
| INCY Incyte Corp. | Reduce -15.2% | 0.35% | −0.08 |
| RHI Robert Half Inc. | Reduce -18.0% | 0.09% | −0.08 |
| CVLT Commvault Systems Inc. | Reduce -59.7% | 0.02% | −0.08 |
| DVN Devon Energy Corp. | Reduce -32.4% | 0.11% | −0.08 |
| EXR Extra Space Storage Inc. | Reduce -42.6% | 0.06% | −0.08 |
| FISV Fiserv Inc. | Reduce -4.5% | 0.05% | −0.08 |
| LIN Linde PLC | Reduce -41.4% | 0.06% | −0.07 |
| COST Costco Wholesale Corp. | Reduce -12.7% | 0.15% | −0.07 |
| DELL Dell Technologies -C | Reduce -27.7% | 0.09% | −0.07 |
| XRAY Dentsply Sirona Inc. | Reduce -60.8% | 0.03% | −0.07 |
| GEV GE Vernova Inc. | Reduce -4.7% | 0.38% | −0.07 |
| NOC Northrop Grumman Corp. | Reduce -19.6% | 0.11% | −0.07 |
| MO Altria Group Inc. | Reduce -3.6% | 0.15% | −0.07 |
| BPOP Popular Inc. | Reduce -10.6% | 0.17% | −0.07 |
| MSCI MSCI Inc. | Reduce -22.4% | 0.12% | −0.07 |
| TPR Tapestry Inc. | Reduce -14.9% | 0.25% | −0.07 |
| SCHW Schwab (charles) Corp. | Reduce -24.6% | 0.12% | −0.07 |
| BRO Brown & Brown Inc. | Reduce -88.8% | 0.01% | −0.07 |
Portfolio Buys Q3 2025 → Q4 2025
| BMY Bristol-Myers Squibb Co. | Add +172.6% | 0.73% | +0.46 |
| TEAM Atlassian Corp. Class A | Add +291.4% | 0.66% | +0.46 |
| CNC Centene Corp. | Add +117.0% | 0.69% | +0.35 |
| LVS Las Vegas Sands Corp. | Add +222.7% | 0.31% | +0.21 |
| EIX Edison International | Add +69.9% | 0.58% | +0.19 |
| CB Chubb Ltd. | Add +51.6% | 0.69% | +0.19 |
| PCG P G & E Corp. | Add +60.6% | 0.63% | +0.18 |
| UPS United Parcel Service Class B | Add +175.7% | 0.27% | +0.17 |
| NEM Newmont Corp. | Add +82.5% | 0.39% | +0.17 |
| CLS Celestica Inc. | New | 0.17% | +0.17 |
| CMG Chipotle Mexican Grill Inc. | Add +341.7% | 0.22% | +0.16 |
| DB Deutsche Bank AG-Registered | Add +2731.8% | 0.16% | +0.16 |
| COF Capital One Financial Corp. | Add +64.9% | 0.43% | +0.15 |
| ABNB Airbnb Inc. Class A | Add +58.4% | 0.48% | +0.15 |
| GOOG Alphabet Inc. Class C | Add +16.2% | 0.75% | +0.14 |
| REGN Regeneron Pharmaceuticals | Add +38.0% | 0.40% | +0.14 |
| SU Suncor Energy Inc. | Add +7636.9% | 0.14% | +0.14 |
| ESTC Elastic NV | Add +153.4% | 0.30% | +0.14 |
| MKTX Marketaxess Holdings Inc. | Add +169.0% | 0.24% | +0.14 |
| WDC Western Digital Corp. | Add +70.5% | 0.27% | +0.13 |
| BNS Bank of Nova Scotia | Add +3120.1% | 0.14% | +0.13 |
| LMT Lockheed Martin Corp. | Add +107.3% | 0.33% | +0.13 |
| JLL Jones Lang Lasalle Inc. | Add +426.7% | 0.16% | +0.13 |
| VIK Viking Holdings Ltd. | Add +316.8% | 0.17% | +0.12 |
| KDP Keurig Dr Pepper Inc. | Add +285.3% | 0.17% | +0.12 |
| SW Smurfit Westrock PLC | Add +8132.7% | 0.12% | +0.11 |
| TTE Totalenergies SE | Add +3364.4% | 0.12% | +0.11 |
| COP Conocophillips | Add +229.2% | 0.18% | +0.11 |
| JBHT Hunt (jb) Transprt SVCS Inc. | Add +17.7% | 0.38% | +0.11 |
| B Barrick Mining Corp. | Add +3534.2% | 0.11% | +0.11 |
| TJX TJX Companies Inc. | Add +57.3% | 0.39% | +0.10 |
| FDS Factset Research Systems Inc. | Add +4547.4% | 0.11% | +0.10 |
| DECK Deckers Outdoor Corp. | Add +340.5% | 0.14% | +0.10 |
| GOOGL Alphabet Inc. Class A | Add +9.3% | 0.74% | +0.10 |
| ZM Zoom Communications Inc. | Add +43.9% | 0.55% | +0.10 |
| ILMN Illumina Inc. | Add +30.3% | 0.30% | +0.10 |
| AMZN Amazon.com Inc. | Add +27.4% | 1.08% | +0.10 |
| TGT Target Corp. | Add +243.8% | 0.15% | +0.10 |
| KGC Kinross Gold Corp. | Add +4443.4% | 0.10% | +0.10 |
| ROP Roper Technologies Inc. | Add +194.6% | 0.18% | +0.10 |
| FCX Freeport-McMoran Inc. | Add +54.6% | 0.23% | +0.10 |
| NOW ServiceNow Inc. | Add +110.7% | 0.32% | +0.10 |
| RGA Reinsurance Group of America | Add +148.4% | 0.18% | +0.10 |
| AMP Ameriprise Financial Inc. | Add +84.2% | 0.28% | +0.09 |
| DG Dollar General Corp. | Add +47.9% | 0.26% | +0.09 |
| JEF Jefferies Financial Group Inc. | Add +696.8% | 0.11% | +0.09 |
| AU Anglogold Ashanti PLC | Add +5109.9% | 0.09% | +0.09 |
| AMT American Tower Corp. | Add +309.4% | 0.13% | +0.09 |
| GIS General Mills Inc. | Add +366.1% | 0.12% | +0.09 |
| OMC Omnicom Group | Add +186.4% | 0.16% | +0.09 |
Notes & Other Activity Q3 2025 → Q4 2025
| CVE.WS Cenovus Energy Inc. -CW26 | *W EXP 01/01/202 | Sold out | 100,130 | $1.2Mbefore exit |
| OPENW Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | Add +789.5% | 65,256 | $59K |
| OPENL Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | New | 65,256 | $34K |
| GME.WS Gamestop Corp. | *W EXP 10/30/202 | Add +482.9% | 10,141 | $31K |
| OPENZ Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | New | 65,256 | $26K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
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 |