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 |
LyondellBasell Industries
LYB
|
+$320M |
| 2 |
Gilead Sciences
GILD
|
+$266M |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$213M |
| 4 |
TE Connectivity
TEL
|
+$179M |
| 5 |
Merck
MRK
|
+$179M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SHPG
Shire pic
SHPG
|
+$211M |
| 2 |
CNVR
CONVERSANT INC COM STK (DE)
CNVR
|
+$117M |
| 3 |
EOG Resources
EOG
|
+$106M |
| 4 |
CNQR
CONCUR TECHNOLOGIES INC
CNQR
|
+$102M |
| 5 |
CPWR
COMPUWARE CORP
CPWR
|
+$99.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 15.47% |
| 2 | Technology | 14.75% |
| 3 | Financials | 11.98% |
| 4 | Industrials | 9.42% |
| 5 | Consumer Discretionary | 7.87% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
TWX
26
DELISTED
Time Warner Inc
TWX
| $239M | 0.5% |
2,802,339
+592,587
| +27% | +$47.2M |
|
27
America Movil
AMX
$71.3B
| $239M | 0.5% |
10,783,787
+2,957,355
| +38% | +$68.9M |
|
28
Meta Platforms (Facebook)
META
$1.4T
| $237M | 0.5% |
3,040,526
-1,117,876
| -27% | -$85.5M |
|
29
Delta Air Lines
DAL
$54.2B
| $237M | 0.5% |
4,814,358
+1,608,479
| +50% | +$67.7M |
|
|
TWC
30
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $230M | 0.48% |
1,511,011
-81,308
| -5% | -$11.7M |
|
31
Berkshire Hathaway Class B
BRK.B
$1.06T
| $228M | 0.48% |
1,517,370
+532,149
| +54% | +$76.8M |
|
32
Kimberly-Clark
KMB
$36.4B
| $227M | 0.48% |
1,963,236
+314,061
| +19% | +$34.9M |
|
33
JPMorgan Chase
JPM
$935B
| $223M | 0.47% |
3,565,841
+1,044,703
| +41% | +$62.9M |
|
34
Union Pacific
UNP
$183B
| $222M | 0.46% |
1,863,225
+1,119,712
| +151% | +$129M |
|
|
35
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $218M | 0.46% |
+1,059,465
| New | +$213M |
|
36
PepsiCo
PEP
$196B
| $207M | 0.43% |
2,190,655
+767,858
| +54% | +$73.6M |
|
37
Public Service Enterprise Group
PEG
$36.2B
| $204M | 0.43% |
4,920,017
+2,966,631
| +152% | +$119M |
|
38
Procter & Gamble
PG
$336B
| $194M | 0.41% |
2,130,806
+782,796
| +58% | +$68.9M |
|
39
Lowe's Companies
LOW
$121B
| $191M | 0.4% |
2,774,841
+1,472,413
| +113% | +$88.2M |
|
40
Cardinal Health
CAH
$53.4B
| $189M | 0.4% |
2,342,788
+255,025
| +12% | +$20.1M |
|
|
41
TE Connectivity
TEL
$58.9B
| $188M | 0.39% |
+2,972,643
| New | +$179M |
|
|
BRCD
42
DELISTED
Brocade Communications Systems, Inc. NEW
BRCD
| $186M | 0.39% |
15,684,278
+1,027,547
| +7% | +$11.2M |
|
43
Entergy
ETR
$48.8B
| $185M | 0.39% |
4,236,314
+2,794,454
| +194% | +$116M |
|
44
PPG Industries
PPG
$25.3B
| $184M | 0.39% |
1,593,544
+205,856
| +15% | +$21.3M |
|
45
Marathon Petroleum
MPC
$101B
| $183M | 0.38% |
4,050,682
+1,310,360
| +48% | +$57.7M |
|
|
RTN
46
DELISTED
Raytheon Company
RTN
| $182M | 0.38% |
1,686,393
+143,324
| +9% | +$14.8M |
|
47
Infosys
INFY
$48.4B
| $182M | 0.38% |
23,077,320
+12,507,600
| +118% | +$101M |
|
48
Lockheed Martin
LMT
$130B
| $181M | 0.38% |
940,088
+418,331
| +80% | +$77.6M |
|
|
HCBK
49
DELISTED
HUDSON CITY BANCORP INC
HCBK
| $180M | 0.38% |
17,769,040
+1,723,375
| +11% | +$16.6M |
|
50
DTE Energy
DTE
$28.1B
| $180M | 0.38% |
2,442,783
+694,154
| +40% | +$48.2M |
|
Similar funds
Cliff Asness's Q4 2014 Portfolio in Review
As of Q4 2014, Cliff Asness held 2,816 positions worth $47.8B, up 31% from $36.4B the previous quarter. Its ten largest holdings account for 9.3% of the portfolio.
Cliff Asness deployed $7.61B of net new capital in Q4 2014, opening 319 new positions and adding to 937 existing holdings. Its largest new stake was LyondellBasell Industries: 3,695,296 shares worth $293M.
By sector, the portfolio is most concentrated in Healthcare at 15% of assets, up from 15% a quarter earlier, followed by Technology and Financials.
On the sell side, the largest reduction was EOG Resources, an estimated $106M trimmed.
- Cliff Asness's largest Q4 2014 buy was LyondellBasell Industries: 3,695,296 shares worth $293M.
- Cliff Asness added most to Gilead Sciences in Q4 2014, an estimated $266M increase.
- Cliff Asness's biggest Q4 2014 reduction was EOG Resources, cutting an estimated $106M.
- Cliff Asness fully exited Shire pic in Q4 2014, selling an estimated $211M.
- Cliff Asness's ten largest holdings make up 9.3% of its $47.8B portfolio in Q4 2014.
- Cliff Asness opened 319 new positions and closed 310 in Q4 2014.
- Cliff Asness's portfolio value rose 31% quarter-over-quarter to $47.8B.
Based on AQR Capital Management's 13F filing for Q4 2014, filed 17 Feb 2015.