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 |
Tesla
TSLA
|
+$154M |
| 2 |
ConocoPhillips
COP
|
+$127M |
| 3 |
Chevron
CVX
|
+$111M |
| 4 |
Regeneron Pharmaceuticals
REGN
|
+$107M |
| 5 |
NRG Energy
NRG
|
+$83.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$376M |
| 2 |
Meta Platforms (Facebook)
META
|
+$195M |
| 3 |
Target
TGT
|
+$191M |
| 4 |
Elevance Health
ELV
|
+$139M |
| 5 |
Amazon
AMZN
|
+$109M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 24.25% |
| 2 | Healthcare | 15.8% |
| 3 | Industrials | 12.37% |
| 4 | Financials | 11.64% |
| 5 | Consumer Discretionary | 11.52% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
651
Extra Space Storage
EXR
$30.9B
| $11.4M | 0.02% |
50,526
+13,895
| +38% | +$2.75M |
|
|
CDK
652
DELISTED
CDK Global, Inc.
CDK
| $11.4M | 0.02% |
272,200
-8,406
| -3% | -$353K |
|
653
Roper Technologies
ROP
$41.1B
| $11.4M | 0.02% |
23,267
+323
| +1% | +$154K |
|
654
Realty Income
O
$59.8B
| $11.3M | 0.02% |
158,534
-8,017
| -5% | -$551K |
|
655
Cloudflare
NET
$99.8B
| $11.3M | 0.02% |
85,623
-20,416
| -19% | -$3.42M |
|
|
NSA
656
DELISTED
National Storage Affiliates Trust
NSA
| $11.3M | 0.02% |
162,821
+74,845
| +85% | +$4.62M |
|
657
Ciena
CIEN
$52.7B
| $11M | 0.02% |
143,532
-43,936
| -23% | -$2.71M |
|
658
First Horizon
FHN
$11.6B
| $11M | 0.02% |
673,931
-236,133
| -26% | -$3.94M |
|
|
PARA
659
DELISTED
Paramount Global Class B
PARA
| $11M | 0.02% |
363,943
-311,053
| -46% | -$10.7M |
|
660
Xylem
XYL
$26.7B
| $11M | 0.02% |
92,205
-19,988
| -18% | -$2.48M |
|
661
Southern Copper
SCCO
$181B
| $11M | 0.02% |
193,935
+2,038
| +1% | +$112K |
|
|
TMHC
662
DELISTED
Taylor Morrison
TMHC
| $11M | 0.02% |
317,211
-489,833
| -61% | -$15.3M |
|
|
EFOR
663
Everforth Inc
EFOR
$1.33B
| $10.7M | 0.02% |
86,870
-20,294
| -19% | -$2.48M |
|
664
Papa John's
PZZA
$793M
| $10.7M | 0.02% |
79,814
-8,277
| -9% | -$1.06M |
|
665
HEICO Corp
HEI
$49.3B
| $10.6M | 0.02% |
73,818
+20,793
| +39% | +$2.93M |
|
666
MasTec
MTZ
$20.5B
| $10.6M | 0.02% |
114,673
-37,150
| -24% | -$3.4M |
|
|
DISH
667
DELISTED
DISH Network Corp.
DISH
| $10.6M | 0.02% |
325,489
+179,039
| +122% | +$6.67M |
|
668
Vail Resorts
MTN
$5.35B
| $10.5M | 0.02% |
32,154
-16,771
| -34% | -$5.72M |
|
669
NorthWestern Energy
NWE
$4.29B
| $10.5M | 0.02% |
183,420
+51,068
| +39% | +$2.9M |
|
670
Mid-America Apartment Communities
MAA
$15.4B
| $10.4M | 0.02% |
45,604
+37,332
| +451% | +$7.72M |
|
671
Hilton Worldwide
HLT
$74.3B
| $10.4M | 0.02% |
66,856
+58,022
| +657% | +$8.36M |
|
672
CSX Corp
CSX
$95.3B
| $10.4M | 0.02% |
279,241
-164,976
| -37% | -$5.82M |
|
673
PENN Entertainment
PENN
$2.45B
| $10.4M | 0.02% |
201,367
+97,134
| +93% | +$5.89M |
|
674
NiSource
NI
$19.6B
| $10.3M | 0.02% |
373,664
+285,655
| +325% | +$7.27M |
|
675
H&R Block
HRB
$6.62B
| $10.2M | 0.02% |
433,558
-632,724
| -59% | -$15.3M |
|
Similar funds
Cliff Asness's Q4 2021 Portfolio in Review
As of Q4 2021, Cliff Asness held 2,357 positions worth $55.2B, up 2.3% from $53.9B the previous quarter. Its ten largest holdings account for 17% of the portfolio.
Cliff Asness withdrew a net $3.83B in Q4 2021, closing 169 positions and reducing 1,099 holdings. Its most notable exit was Kansas City Southern, an estimated $7.54M position sold in full.
By sector, the portfolio is most concentrated in Technology at 24% of assets, up from 23% a quarter earlier, followed by Healthcare and Industrials.
Against the trend, Cliff Asness opened a new position in Live Nation Entertainment worth $8.76M.
- Cliff Asness's largest Q4 2021 buy was Live Nation Entertainment: 73,147 shares worth $8.76M.
- Cliff Asness added most to Tesla in Q4 2021, an estimated $154M increase.
- Cliff Asness's biggest Q4 2021 reduction was Apple, cutting an estimated $376M.
- Cliff Asness fully exited Kansas City Southern in Q4 2021, selling an estimated $7.54M.
- Cliff Asness's ten largest holdings make up 17% of its $55.2B portfolio in Q4 2021.
- Cliff Asness opened 126 new positions and closed 169 in Q4 2021.
- Cliff Asness's portfolio value rose 2.3% quarter-over-quarter to $55.2B.
Based on AQR Capital Management's 13F filing for Q4 2021, filed 14 Feb 2022.