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 |
SHPG
Shire pic
SHPG
|
+$147M |
| 2 |
Gilead Sciences
GILD
|
+$127M |
| 3 |
Intel
INTC
|
+$114M |
| 4 |
LO
LORILLARD INC COM STK
LO
|
+$113M |
| 5 |
TWX
Time Warner Inc
TWX
|
+$112M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
FRX
FOREST LABORATORIES INC
FRX
|
+$243M |
| 2 |
WNR
Western Refining Inc
WNR
|
+$148M |
| 3 |
UNS
UNS ENERGY CORP COM
UNS
|
+$123M |
| 4 |
HSH
HILLSHIRE BRANDS CO
HSH
|
+$118M |
| 5 |
CELG
Celgene Corp
CELG
|
+$106M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 14.66% |
| 2 | Technology | 13.5% |
| 3 | Energy | 10.11% |
| 4 | Financials | 9.6% |
| 5 | Industrials | 9.29% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
501
NextEra Energy
NEE
$174B
| $11.9M | 0.03% |
507,220
-94,624
| -16% | -$2.28M |
|
502
Deluxe
DLX
$1.08B
| $11.8M | 0.03% |
213,008
+19,800
| +10% | +$1.14M |
|
|
BEE
503
DELISTED
STRATEGIC HOTELS & RESORTS, INC
BEE
| $11.7M | 0.03% |
1,005,723
+34,100
| +4% | +$402K |
|
504
Atmos Energy
ATO
$28.2B
| $11.7M | 0.03% |
244,589
+116,150
| +90% | +$5.8M |
|
505
Howard Hughes
HHH
$3.97B
| $11.6M | 0.03% |
81,360
+31,365
| +63% | +$4.59M |
|
506
Gerdau
GGB
$8.5B
| $11.6M | 0.03% |
3,047,940
-759,654
| -20% | -$3.48M |
|
507
Designer Brands
DBI
$292M
| $11.6M | 0.03% |
385,130
-124,000
| -24% | -$3.55M |
|
508
Las Vegas Sands
LVS
$30.5B
| $11.6M | 0.03% |
185,695
-62,487
| -25% | -$4.29M |
|
509
Lincoln Electric
LECO
$15.4B
| $11.5M | 0.03% |
166,610
-13,796
| -8% | -$960K |
|
510
Citigroup
C
$221B
| $11.5M | 0.03% |
221,139
-220,101
| -50% | -$11.1M |
|
511
Telkom Indonesia
TLK
$14.8B
| $11.4M | 0.03% |
474,278
-2,400
| -0.5% | -$55.5K |
|
512
Pitney Bowes
PBI
$2.26B
| $11.4M | 0.03% |
456,339
+86,800
| +23% | +$2.32M |
|
|
CLGX
513
DELISTED
Corelogic, Inc.
CLGX
| $11.4M | 0.03% |
420,806
-123,394
| -23% | -$3.48M |
|
514
Packaging Corp of America
PKG
$22.5B
| $11.3M | 0.03% |
177,559
-125,954
| -41% | -$8.46M |
|
|
DNY
515
DELISTED
DONNELLEY R R & SONS CO
DNY
| $11.2M | 0.03% |
682,470
-538,900
| -44% | -$8.87M |
|
516
Sanmina
SANM
$10.1B
| $11.2M | 0.03% |
535,909
+134,200
| +33% | +$3.12M |
|
517
Teva Pharmaceuticals
TEVA
$43.5B
| $11.1M | 0.03% |
206,919
+103,108
| +99% | +$5.46M |
|
518
ResMed
RMD
$33.4B
| $11.1M | 0.03% |
224,888
-172,700
| -43% | -$8.8M |
|
519
Viavi Solutions
VIAV
$9.6B
| $11.1M | 0.03% |
1,519,527
-211,878
| -12% | -$1.46M |
|
520
Automatic Data Processing
ADP
$112B
| $11M | 0.03% |
150,510
+11,614
| +8% | +$839K |
|
|
MRSH
521
Marsh
MRSH
$91.6B
| $10.9M | 0.03% |
208,836
-143
| -0.1% | -$7.46K |
|
|
TESO
522
DELISTED
Tesco Corp
TESO
| $10.9M | 0.03% |
548,402
-44,700
| -8% | -$918K |
|
523
UGI
UGI
$8.06B
| $10.9M | 0.03% |
319,264
+45,479
| +17% | +$1.55M |
|
524
Arthur J. Gallagher & Co
AJG
$67.6B
| $10.9M | 0.03% |
239,700
+166,100
| +226% | +$7.64M |
|
525
Methode Electronics
MEI
$507M
| $10.8M | 0.03% |
293,546
-95,600
| -25% | -$3.39M |
|
Similar funds
Cliff Asness's Q3 2014 Portfolio in Review
As of Q3 2014, Cliff Asness held 2,708 positions worth $36.4B, down 1.9% from $37.1B the previous quarter. Its ten largest holdings account for 9.4% of the portfolio.
Cliff Asness withdrew a net $2.61B in Q3 2014, closing 203 positions and reducing 1,062 holdings. Its most notable exit was FOREST LABORATORIES INC, an estimated $243M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 15% of assets, down from 15% a quarter earlier, followed by Technology and Energy.
Against the trend, Cliff Asness opened a new position in BALLY TECHNOLOGIES, INC. worth $80.5M.
- Cliff Asness's largest Q3 2014 buy was BALLY TECHNOLOGIES, INC.: 997,907 shares worth $80.5M.
- Cliff Asness added most to Shire pic in Q3 2014, an estimated $147M increase.
- Cliff Asness's biggest Q3 2014 reduction was Western Refining Inc, cutting an estimated $148M.
- Cliff Asness fully exited FOREST LABORATORIES INC in Q3 2014, selling an estimated $243M.
- Cliff Asness's ten largest holdings make up 9.4% of its $36.4B portfolio in Q3 2014.
- Cliff Asness opened 200 new positions and closed 203 in Q3 2014.
- Cliff Asness's portfolio value fell 1.9% quarter-over-quarter to $36.4B.
Based on AQR Capital Management's 13F filing for Q3 2014, filed 14 Nov 2014.