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 |
Hewlett Packard
HPE
|
+$483M |
| 2 |
Wells Fargo
WFC
|
+$147M |
| 3 |
Delta Air Lines
DAL
|
+$139M |
| 4 |
STI
SunTrust Banks, Inc.
STI
|
+$129M |
| 5 |
Aflac
AFL
|
+$128M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Mondelez International
MDLZ
|
+$115M |
| 2 |
Cognizant
CTSH
|
+$107M |
| 3 |
BRCD
Brocade Communications Systems, Inc. NEW
BRCD
|
+$107M |
| 4 |
DuPont de Nemours
DD
|
+$90.3M |
| 5 |
PepsiCo
PEP
|
+$69.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 16.58% |
| 2 | Technology | 16.26% |
| 3 | Industrials | 14.81% |
| 4 | Consumer Discretionary | 11.81% |
| 5 | Healthcare | 9.46% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
526
MGIC Investment
MTG
$6.43B
| $27.3M | 0.04% |
2,677,072
-281,910
| -10% | -$2.55M |
|
527
Mettler-Toledo International
MTD
$28.1B
| $27.2M | 0.04% |
65,065
+15,825
| +32% | +$6.59M |
|
|
PF
528
DELISTED
Pinnacle Foods, Inc.
PF
| $26.9M | 0.04% |
503,976
-200
| -0% | -$10.1K |
|
529
Expeditors International
EXPD
$24.4B
| $26.9M | 0.04% |
507,179
+22,361
| +5% | +$1.17M |
|
|
TSE
530
DELISTED
Trinseo
TSE
| $26.5M | 0.04% |
447,675
+114,888
| +35% | +$6.44M |
|
531
Dollar General
DG
$27.4B
| $26.4M | 0.04% |
356,923
-74,211
| -17% | -$5.42M |
|
|
TXNM
532
TXNM Energy Inc
TXNM
$5.9B
| $26.3M | 0.04% |
767,498
-88,968
| -10% | -$2.89M |
|
533
Imperial Oil
IMO
$66.2B
| $26.1M | 0.04% |
750,088
-25,678
| -3% | -$862K |
|
534
Werner Enterprises
WERN
$2.29B
| $25.9M | 0.04% |
960,948
-263,237
| -22% | -$6.78M |
|
535
ResMed
RMD
$33.3B
| $25.8M | 0.04% |
416,049
-86,087
| -17% | -$5.27M |
|
536
Fortinet
FTNT
$111B
| $25.7M | 0.04% |
4,267,660
+565,595
| +15% | +$3.53M |
|
537
Emerson Electric
EMR
$87.4B
| $25.7M | 0.04% |
461,082
-193,335
| -30% | -$10.4M |
|
538
Expedia Group
EXPE
$39.8B
| $25.5M | 0.04% |
225,471
-34,088
| -13% | -$4.16M |
|
539
Lamb Weston
LW
$7.54B
| $25.5M | 0.04% |
+674,746
| New | +$23M |
|
540
Dolby
DLB
$6.14B
| $25.5M | 0.04% |
564,644
+339,254
| +151% | +$16.4M |
|
541
Wheaton Precious Metals
WPM
$72.6B
| $25.5M | 0.04% |
1,317,331
+72,172
| +6% | +$1.5M |
|
542
Franklin Templeton
BEN
$17.5B
| $25.4M | 0.04% |
642,338
+34,155
| +6% | +$1.28M |
|
543
Fidelity National Information Services
FIS
$21.6B
| $25.4M | 0.04% |
336,102
+94,981
| +39% | +$7.24M |
|
544
Marriott International
MAR
$94.2B
| $25.4M | 0.04% |
307,329
-326,139
| -51% | -$24.5M |
|
545
United Rentals
URI
$67.6B
| $25.4M | 0.04% |
240,189
-56,590
| -19% | -$5.15M |
|
546
Ambev
ABEV
$45B
| $25.2M | 0.03% |
5,131,924
-7,281,136
| -59% | -$39.3M |
|
|
DMC
547
Del Monte Corp
DMC
$1.51B
| $25.2M | 0.03% |
415,537
-8,648
| -2% | -$532K |
|
|
S
548
DELISTED
Sprint Corporation
S
| $25.1M | 0.03% |
2,984,614
+1,203,739
| +68% | +$8.91M |
|
|
AAN.A
549
DELISTED
The Aaron's Company Inc Class A
AAN.A
| $24.9M | 0.03% |
777,705
+10,387
| +1% | +$332K |
|
|
AFSI
550
DELISTED
AmTrust Financial Services, Inc.
AFSI
| $24.8M | 0.03% |
907,294
-120,143
| -12% | -$3.2M |
|
Similar funds
Cliff Asness's Q4 2016 Portfolio in Review
As of Q4 2016, Cliff Asness held 2,368 positions worth $72.5B, up 11% from $65.3B the previous quarter. Its ten largest holdings account for 8.9% of the portfolio.
Cliff Asness deployed $4.26B of net new capital in Q4 2016, opening 125 new positions and adding to 1,024 existing holdings. Its largest new stake was Yum China: 1,080,283 shares worth $28.2M.
By sector, the portfolio is most concentrated in Financials at 17% of assets, up from 13% a quarter earlier, followed by Technology and Industrials.
On the sell side, the largest reduction was Mondelez International, an estimated $115M trimmed.
- Cliff Asness's largest Q4 2016 buy was Yum China: 1,080,283 shares worth $28.2M.
- Cliff Asness added most to Hewlett Packard in Q4 2016, an estimated $483M increase.
- Cliff Asness's biggest Q4 2016 reduction was Mondelez International, cutting an estimated $115M.
- Cliff Asness fully exited Lexmark Intl Inc in Q4 2016, selling an estimated $32.5M.
- Cliff Asness's ten largest holdings make up 8.9% of its $72.5B portfolio in Q4 2016.
- Cliff Asness opened 125 new positions and closed 145 in Q4 2016.
- Cliff Asness's portfolio value rose 11% quarter-over-quarter to $72.5B.
Based on AQR Capital Management's 13F filing for Q4 2016, filed 14 Feb 2017.