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 |
Valero Energy
VLO
|
+$394M |
| 2 |
RTN
Raytheon Company
RTN
|
+$323M |
| 3 |
Booking.com
BKNG
|
+$320M |
| 4 |
FedEx
FDX
|
+$306M |
| 5 |
ConocoPhillips
COP
|
+$278M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Walt Disney
DIS
|
+$291M |
| 2 |
Western Digital
WDC
|
+$285M |
| 3 |
CELG
Celgene Corp
CELG
|
+$262M |
| 4 |
United Airlines
UAL
|
+$247M |
| 5 |
JPMorgan Chase
JPM
|
+$208M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 20.22% |
| 2 | Consumer Discretionary | 13.93% |
| 3 | Healthcare | 13.78% |
| 4 | Industrials | 12.45% |
| 5 | Financials | 12.22% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
326
Kinross Gold
KGC
$38.9B
| $65.2M | 0.07% |
17,317,905
+5,141,736
| +42% | +$19.3M |
|
|
RHT
327
DELISTED
Red Hat Inc
RHT
| $64.8M | 0.07% |
473,064
+253,386
| +115% | +$40.9M |
|
328
Qorvo
QRVO
$8.43B
| $64.7M | 0.07% |
800,216
-1,101,067
| -58% | -$85.1M |
|
329
Franco-Nevada
FNV
$51.3B
| $64.3M | 0.06% |
881,019
+162,256
| +23% | +$11.5M |
|
330
Hilton Grand Vacations
HGV
$3.51B
| $64.2M | 0.06% |
1,851,318
+477,507
| +35% | +$19.3M |
|
331
PVH
PVH
$3.62B
| $64.2M | 0.06% |
421,064
-58,118
| -12% | -$9.15M |
|
332
Booz Allen Hamilton
BAH
$9.27B
| $63.9M | 0.06% |
1,456,650
+18,887
| +1% | +$792K |
|
333
Avery Dennison
AVY
$13.9B
| $63.7M | 0.06% |
624,230
+2,146
| +0.3% | +$227K |
|
334
Prudential Financial
PRU
$41.8B
| $63.5M | 0.06% |
678,817
-671,693
| -50% | -$67.9M |
|
335
Fair Isaac
FICO
$25.3B
| $63.4M | 0.06% |
327,749
-16,209
| -5% | -$2.94M |
|
336
Philip Morris
PM
$293B
| $63.4M | 0.06% |
784,688
-394,096
| -33% | -$33.4M |
|
337
Terex
TEX
$7.6B
| $62.5M | 0.06% |
1,482,540
-20,395
| -1% | -$810K |
|
338
Altria Group
MO
$110B
| $62.3M | 0.06% |
1,096,458
-272,932
| -20% | -$15.7M |
|
|
SNV
339
DELISTED
Synovus
SNV
| $62.2M | 0.06% |
1,178,280
-19,061
| -2% | -$1.01M |
|
|
XLNX
340
DELISTED
Xilinx Inc
XLNX
| $62.1M | 0.06% |
952,308
+509,483
| +115% | +$34.7M |
|
341
Stryker
SYK
$126B
| $62M | 0.06% |
367,031
+39,234
| +12% | +$6.6M |
|
342
Dana Inc
DAN
$3.41B
| $61.8M | 0.06% |
3,061,647
-188,195
| -6% | -$4.47M |
|
|
FISV
343
Fiserv Inc
FISV
$28B
| $61.7M | 0.06% |
832,198
+54,915
| +7% | +$3.99M |
|
344
Evergy
EVRG
$18.7B
| $61.6M | 0.06% |
+1,097,915
| New | +$58.8M |
|
345
NorthWestern Energy
NWE
$4.27B
| $61.2M | 0.06% |
1,069,834
+206,488
| +24% | +$11.2M |
|
346
Chubb
CB
$132B
| $61.2M | 0.06% |
481,659
-93,833
| -16% | -$12.5M |
|
347
Starbucks
SBUX
$122B
| $61M | 0.06% |
1,249,669
-466,864
| -27% | -$26.5M |
|
348
Citizens Financial Group
CFG
$29.4B
| $60.8M | 0.06% |
1,563,074
-378,558
| -19% | -$15.8M |
|
349
Patterson-UTI
PTEN
$4.71B
| $60.8M | 0.06% |
3,375,012
+2,254,213
| +201% | +$45.2M |
|
350
Olin
OLN
$2.1B
| $60.7M | 0.06% |
2,113,919
+183,564
| +10% | +$5.71M |
|
Similar funds
Cliff Asness's Q2 2018 Portfolio in Review
As of Q2 2018, Cliff Asness held 2,453 positions worth $99.3B, up 7.1% from $92.7B the previous quarter. Its ten largest holdings account for 12% of the portfolio.
Cliff Asness deployed $4.81B of net new capital in Q2 2018, opening 237 new positions and adding to 1,040 existing holdings. Its largest new stake was Evergy: 1,097,915 shares worth $61.6M.
By sector, the portfolio is most concentrated in Technology at 20% of assets, up from 19% a quarter earlier, followed by Consumer Discretionary and Healthcare.
On the sell side, the largest reduction was Walt Disney, an estimated $291M trimmed.
- Cliff Asness's largest Q2 2018 buy was Evergy: 1,097,915 shares worth $61.6M.
- Cliff Asness added most to Valero Energy in Q2 2018, an estimated $394M increase.
- Cliff Asness's biggest Q2 2018 reduction was Walt Disney, cutting an estimated $291M.
- Cliff Asness fully exited Time Warner Inc in Q2 2018, selling an estimated $99.5M.
- Cliff Asness's ten largest holdings make up 12% of its $99.3B portfolio in Q2 2018.
- Cliff Asness opened 237 new positions and closed 144 in Q2 2018.
- Cliff Asness's portfolio value rose 7.1% quarter-over-quarter to $99.3B.
Based on AQR Capital Management's 13F filing for Q2 2018, filed 14 Aug 2018.