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 |
Meta Platforms (Facebook)
META
|
+$511M |
| 2 |
Oracle
ORCL
|
+$454M |
| 3 |
Western Digital
WDC
|
+$438M |
| 4 |
LyondellBasell Industries
LYB
|
+$278M |
| 5 |
CELG
Celgene Corp
CELG
|
+$268M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AET
Aetna Inc
AET
|
+$265M |
| 2 |
PG&E
PCG
|
+$220M |
| 3 |
General Motors
GM
|
+$192M |
| 4 |
Regions Financial
RF
|
+$174M |
| 5 |
STI
SunTrust Banks, Inc.
STI
|
+$157M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 17.91% |
| 2 | Healthcare | 14.95% |
| 3 | Financials | 14.41% |
| 4 | Industrials | 13.09% |
| 5 | Consumer Discretionary | 13% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
TWX
251
DELISTED
Time Warner Inc
TWX
| $95.6M | 0.1% |
1,045,436
+120,761
| +13% | +$11.4M |
|
252
AGCO
AGCO
$7.48B
| $95.4M | 0.1% |
1,336,235
-18,083
| -1% | -$1.29M |
|
|
BIVV
253
DELISTED
Bioverativ Inc. Common Stock
BIVV
| $94.9M | 0.1% |
1,760,862
+227,874
| +15% | +$12.5M |
|
254
CNO Financial Group
CNO
$4.95B
| $93.8M | 0.1% |
3,800,912
+553,889
| +17% | +$13.5M |
|
255
NetEase
NTES
$82.1B
| $93.5M | 0.1% |
1,355,280
-1,715
| -0.1% | -$107K |
|
256
JD.com
JD
$39.7B
| $93.5M | 0.1% |
2,257,910
+10,040
| +0.4% | +$395K |
|
|
MBT
257
DELISTED
Mobile TeleSystems Public Joint Stock Company American Depositary Shares (Each representing 2 Shares
MBT
| $92.2M | 0.1% |
9,047,610
-7,284,702
| -45% | -$75.2M |
|
258
Popular Inc
BPOP
$10.8B
| $91.9M | 0.1% |
2,590,092
-1,506,828
| -37% | -$52.1M |
|
259
FedEx
FDX
$76.9B
| $91.5M | 0.1% |
366,518
-186,631
| -34% | -$42.7M |
|
260
Crane NXT
CXT
$2.89B
| $91.2M | 0.1% |
2,941,471
-1,115,385
| -27% | -$32.6M |
|
261
Keurig Dr Pepper
KDP
$43.6B
| $90.8M | 0.1% |
935,137
-231,609
| -20% | -$20.8M |
|
|
MXIM
262
DELISTED
Maxim Integrated Products
MXIM
| $90.5M | 0.1% |
1,731,518
+357,611
| +26% | +$18.6M |
|
|
BIG
263
DELISTED
Big Lots, Inc.
BIG
| $90.3M | 0.09% |
1,608,230
-51,635
| -3% | -$2.8M |
|
264
Sysco
SYY
$40.2B
| $90.1M | 0.09% |
1,483,976
+534,305
| +56% | +$30.3M |
|
265
Eastman Chemical
EMN
$8.47B
| $89.9M | 0.09% |
970,918
-657,469
| -40% | -$59.7M |
|
266
Dell
DELL
$286B
| $89.5M | 0.09% |
3,923,072
-499,936
| -11% | -$11.3M |
|
267
Ross Stores
ROST
$76.7B
| $88.6M | 0.09% |
1,104,573
-673,857
| -38% | -$47.1M |
|
268
NextEra Energy
NEE
$174B
| $87M | 0.09% |
2,226,964
+502,532
| +29% | +$19.4M |
|
269
Scotiabank
BNS
$107B
| $86.8M | 0.09% |
1,340,453
-535,925
| -29% | -$34.7M |
|
270
F5
FFIV
$21.8B
| $85.2M | 0.09% |
649,518
+47,468
| +8% | +$5.9M |
|
271
Progressive
PGR
$127B
| $85.1M | 0.09% |
1,510,942
-15,370
| -1% | -$795K |
|
272
Murphy Oil
MUR
$5.36B
| $84.7M | 0.09% |
2,726,843
+593,685
| +28% | +$16.5M |
|
273
Costco
COST
$420B
| $84.5M | 0.09% |
454,252
+52,561
| +13% | +$9.07M |
|
274
Huntsman Corp
HUN
$1.75B
| $84.3M | 0.09% |
2,532,237
+2,229,297
| +736% | +$68.3M |
|
|
SAFM
275
DELISTED
Sanderson Farms Inc
SAFM
| $83.4M | 0.09% |
601,246
+437,400
| +267% | +$67.5M |
|
Similar funds
Cliff Asness's Q4 2017 Portfolio in Review
As of Q4 2017, Cliff Asness held 2,349 positions worth $95.3B, up 14% from $83.8B the previous quarter. Its ten largest holdings account for 11% of the portfolio.
Cliff Asness deployed $6.3B of net new capital in Q4 2017, opening 115 new positions and adding to 1,048 existing holdings. Its largest new stake was Whiting Petroleum Corporation: 19,680 shares worth $39.1M.
By sector, the portfolio is most concentrated in Technology at 18% of assets, up from 16% a quarter earlier, followed by Healthcare and Financials.
On the sell side, the largest reduction was Aetna Inc, an estimated $265M trimmed.
- Cliff Asness's largest Q4 2017 buy was Whiting Petroleum Corporation: 19,680 shares worth $39.1M.
- Cliff Asness added most to Meta Platforms (Facebook) in Q4 2017, an estimated $511M increase.
- Cliff Asness's biggest Q4 2017 reduction was Aetna Inc, cutting an estimated $265M.
- Cliff Asness fully exited Micro Focus International plc. American Depositary Shares, each representing One Ordinary Share in Q4 2017, selling an estimated $69.6M.
- Cliff Asness's ten largest holdings make up 11% of its $95.3B portfolio in Q4 2017.
- Cliff Asness opened 115 new positions and closed 134 in Q4 2017.
- Cliff Asness's portfolio value rose 14% quarter-over-quarter to $95.3B.
Based on AQR Capital Management's 13F filing for Q4 2017, filed 14 Feb 2018.