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 | |
|---|---|---|---|---|---|---|
|
CMA
426
DELISTED
Comerica
CMA
| $42.9M | 0.05% |
493,835
-212,004
| -30% | -$17.1M |
|
427
MGIC Investment
MTG
$6.34B
| $42.7M | 0.04% |
3,026,346
-284,296
| -9% | -$4M |
|
428
American International
AIG
$39.8B
| $42.6M | 0.04% |
714,284
-363,236
| -34% | -$22.3M |
|
|
STAY
429
DELISTED
Extended Stay America, Inc. Paired Share Unit
STAY
| $42.6M | 0.04% |
2,239,662
+95,375
| +4% | +$1.78M |
|
430
Deluxe
DLX
$1.08B
| $42.4M | 0.04% |
551,248
-20,147
| -4% | -$1.45M |
|
431
Yum China
YUMC
$16.9B
| $42.2M | 0.04% |
1,053,913
+1,567
| +0.1% | +$64.5K |
|
432
Saic
SAIC
$5.41B
| $42.1M | 0.04% |
549,350
-258,263
| -32% | -$18.7M |
|
433
American Water Works
AWK
$26.9B
| $41.8M | 0.04% |
457,054
+104,320
| +30% | +$9.22M |
|
434
Church & Dwight Co
CHD
$23.4B
| $41.7M | 0.04% |
831,154
+70,403
| +9% | +$3.3M |
|
435
Monster Beverage
MNST
$93.6B
| $41.6M | 0.04% |
2,626,124
+710,736
| +37% | +$10.6M |
|
436
Graham Holdings Company
GHC
$4.94B
| $41M | 0.04% |
73,431
-17,961
| -20% | -$10.2M |
|
|
ENIA
437
DELISTED
Enel Amricas S.A. American Depositary Shares (Each representing 50 shares of Common Stock)
ENIA
| $40.8M | 0.04% |
3,652,179
-2,108,462
| -37% | -$22M |
|
|
SPN
438
DELISTED
Superior Energy Services, Inc.
SPN
| $40.5M | 0.04% |
420,732
+276,824
| +192% | +$25.7M |
|
439
News Corp Class A
NWSA
$16.4B
| $40.4M | 0.04% |
2,494,456
+600,111
| +32% | +$8.98M |
|
440
Jack Henry & Associates
JKHY
$11.8B
| $40.4M | 0.04% |
345,491
+2,406
| +0.7% | +$269K |
|
441
Digital Realty Trust
DLR
$70.5B
| $40.3M | 0.04% |
353,905
+119,798
| +51% | +$14.1M |
|
442
Expeditors International
EXPD
$24.4B
| $40.2M | 0.04% |
621,375
+11,524
| +2% | +$706K |
|
443
Microchip Technology
MCHP
$41.3B
| $40.1M | 0.04% |
913,530
+112,040
| +14% | +$5.07M |
|
444
Northern Trust
NTRS
$33.6B
| $40M | 0.04% |
400,731
+213,445
| +114% | +$20.3M |
|
445
New Oriental
EDU
$8.88B
| $40M | 0.04% |
425,519
+6,501
| +2% | +$577K |
|
446
Fortinet
FTNT
$113B
| $40M | 0.04% |
4,574,915
+1,387,565
| +44% | +$11.3M |
|
447
Boston Beer
SAM
$1.91B
| $39.8M | 0.04% |
208,005
+69,215
| +50% | +$12.4M |
|
448
Canadian National Railway
CNI
$78.5B
| $39.4M | 0.04% |
475,683
-163,378
| -26% | -$13.2M |
|
|
TCF
449
DELISTED
TCF Financial Corporation
TCF
| $39.2M | 0.04% |
1,913,618
-537,799
| -22% | -$10.1M |
|
|
WLL
450
DELISTED
Whiting Petroleum Corporation
WLL
| $39.1M | 0.04% |
+19,680
| New | +$34.5M |
|
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.