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 |
Merck
MRK
|
+$354M |
| 2 |
Verizon
VZ
|
+$307M |
| 3 |
HCA Healthcare
HCA
|
+$256M |
| 4 |
Marathon Petroleum
MPC
|
+$239M |
| 5 |
Comcast
CMCSA
|
+$231M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Intel
INTC
|
+$361M |
| 2 |
Texas Instruments
TXN
|
+$333M |
| 3 |
LyondellBasell Industries
LYB
|
+$305M |
| 4 |
WCG
Wellcare Health Plans, Inc.
WCG
|
+$298M |
| 5 |
Northrop Grumman
NOC
|
+$282M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 20.44% |
| 2 | Technology | 18.54% |
| 3 | Consumer Discretionary | 14.07% |
| 4 | Industrials | 10.25% |
| 5 | Financials | 9.85% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
301
NetEase
NTES
$82.1B
| $59.1M | 0.07% |
1,256,140
-73,245
| -6% | -$3.3M |
|
302
Crane NXT
CXT
$2.89B
| $59.1M | 0.07% |
2,358,002
-446,599
| -16% | -$13.3M |
|
303
Ecolab
ECL
$78.9B
| $59.1M | 0.07% |
400,969
+111,701
| +39% | +$17.1M |
|
304
MetLife
MET
$60B
| $59M | 0.07% |
1,438,006
+1,221,202
| +563% | +$52.4M |
|
|
SKX
305
DELISTED
Skechers
SKX
| $58.8M | 0.07% |
2,567,247
-2,713,144
| -51% | -$71.2M |
|
|
Y
306
DELISTED
Alleghany Corp
Y
| $58.7M | 0.07% |
94,165
+13,295
| +16% | +$8.19M |
|
307
Fair Isaac
FICO
$25.3B
| $57.6M | 0.07% |
308,245
-16,002
| -5% | -$3.12M |
|
308
Sabesp
SBS
$16.2B
| $57.3M | 0.07% |
36,606,081
+31,726,897
| +650% | +$45.6M |
|
309
Burlington
BURL
$20.6B
| $57.2M | 0.07% |
351,653
-619,257
| -64% | -$100M |
|
310
Kinross Gold
KGC
$38.9B
| $56.9M | 0.07% |
17,668,927
+590,427
| +3% | +$1.65M |
|
311
Helmerich & Payne
HP
$4.35B
| $56.8M | 0.07% |
1,184,392
+263,735
| +29% | +$16.2M |
|
312
Citigroup
C
$221B
| $56.7M | 0.07% |
1,088,910
+370,270
| +52% | +$23.4M |
|
313
O'Reilly Automotive
ORLY
$72.1B
| $56.6M | 0.07% |
2,463,630
+664,980
| +37% | +$15.1M |
|
314
Xcel Energy
XEL
$47.7B
| $56.5M | 0.07% |
1,146,472
-212,299
| -16% | -$10.6M |
|
|
WCC
315
WESCO International
WCC
$17B
| $56.3M | 0.07% |
1,173,882
+51,456
| +5% | +$2.67M |
|
316
VF Corp
VFC
$5.65B
| $56.2M | 0.07% |
837,170
-204,557
| -20% | -$15.6M |
|
317
S&P Global
SPGI
$127B
| $56.2M | 0.07% |
330,561
-42,494
| -11% | -$7.61M |
|
318
McCormick & Company Non-Voting
MKC
$14.9B
| $56.1M | 0.07% |
806,184
+145,554
| +22% | +$10.4M |
|
319
Morgan Stanley
MS
$336B
| $56M | 0.06% |
1,412,523
+703,647
| +99% | +$30.7M |
|
320
Bank of America
BAC
$431B
| $55.8M | 0.06% |
2,265,989
-1,235,150
| -35% | -$33.5M |
|
321
Rollins
ROL
$17.8B
| $55.4M | 0.06% |
2,303,097
+567,616
| +33% | +$14.7M |
|
|
ANSS
322
DELISTED
Ansys
ANSS
| $54.9M | 0.06% |
384,421
-24,479
| -6% | -$3.8M |
|
323
Murphy USA
MUSA
$10.5B
| $54.9M | 0.06% |
716,553
-14,335
| -2% | -$1.13M |
|
324
Ziff Davis
ZD
$1.92B
| $54.6M | 0.06% |
904,238
+78,804
| +10% | +$4.97M |
|
325
Hartford Financial Services
HIG
$36.9B
| $54.5M | 0.06% |
1,226,790
-162,197
| -12% | -$7.3M |
|
Similar funds
Cliff Asness's Q4 2018 Portfolio in Review
As of Q4 2018, Cliff Asness held 2,392 positions worth $86.3B, down 17% from $105B the previous quarter. Its ten largest holdings account for 13% of the portfolio.
Cliff Asness's Q4 2018 filing shows 138 new, 818 increased, 1,174 reduced and 217 closed positions. Its largest new stake was Linde: 705,153 shares worth $111M. The largest sale was Intel, an estimated $361M.
By sector, the portfolio is most concentrated in Healthcare at 20% of assets, up from 17% a quarter earlier, followed by Technology and Consumer Discretionary.
- Cliff Asness's largest Q4 2018 buy was Linde: 705,153 shares worth $111M.
- Cliff Asness added most to Merck in Q4 2018, an estimated $354M increase.
- Cliff Asness's biggest Q4 2018 reduction was Intel, cutting an estimated $361M.
- Cliff Asness fully exited Aetna Inc in Q4 2018, selling an estimated $104M.
- Cliff Asness's ten largest holdings make up 13% of its $86.3B portfolio in Q4 2018.
- Cliff Asness opened 138 new positions and closed 217 in Q4 2018.
- Cliff Asness's portfolio value fell 17% quarter-over-quarter to $86.3B.
Based on AQR Capital Management's 13F filing for Q4 2018, filed 14 Feb 2019.