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 |
Humana
HUM
|
+$267M |
| 2 |
Home Depot
HD
|
+$252M |
| 3 |
Northrop Grumman
NOC
|
+$221M |
| 4 |
Gilead Sciences
GILD
|
+$175M |
| 5 |
Dollar General
DG
|
+$137M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HP
HPQ
|
+$287M |
| 2 |
TWTR
Twitter, Inc.
TWTR
|
+$278M |
| 3 |
Biogen
BIIB
|
+$244M |
| 4 |
iShares Russell 3000 ETF
IWV
|
+$198M |
| 5 |
Exelon
EXC
|
+$185M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 20.43% |
| 2 | Financials | 14.36% |
| 3 | Healthcare | 13.9% |
| 4 | Consumer Discretionary | 13.25% |
| 5 | Industrials | 11.62% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
801
Ducommun
DCO
$2.74B
| $8.45M | 0.01% |
167,224
-11,373
| -6% | -$524K |
|
802
Qiagen
QGEN
$9.01B
| $8.45M | 0.01% |
235,687
-1,513,787
| -87% | -$56.3M |
|
|
SYKE
803
DELISTED
SYKES Enterprises Inc
SYKE
| $8.45M | 0.01% |
228,301
-9,912
| -4% | -$335K |
|
804
Franklin Electric
FELE
$4.5B
| $8.44M | 0.01% |
147,232
-17,551
| -11% | -$927K |
|
|
SP
805
DELISTED
SP Plus Corporation
SP
| $8.38M | 0.01% |
197,620
-39,849
| -17% | -$1.68M |
|
|
LM
806
DELISTED
Legg Mason, Inc.
LM
| $8.35M | 0.01% |
232,383
+61,838
| +36% | +$2.3M |
|
807
Hilton Grand Vacations
HGV
$3.49B
| $8.31M | 0.01% |
241,631
+192,500
| +392% | +$6.62M |
|
808
Olin
OLN
$1.98B
| $8.28M | 0.01% |
480,100
+426,518
| +796% | +$7.63M |
|
809
FirstEnergy
FE
$27B
| $8.26M | 0.01% |
170,627
+45,557
| +36% | +$2.18M |
|
|
DNKN
810
DELISTED
Dunkin' Brands Group, Inc.
DNKN
| $8.24M | 0.01% |
109,123
+29,934
| +38% | +$2.26M |
|
811
EQT Corp
EQT
$33.8B
| $8.17M | 0.01% |
756,753
-499,095
| -40% | -$4.88M |
|
812
Wynn Resorts
WYNN
$10.2B
| $8.15M | 0.01% |
58,688
+23,185
| +65% | +$2.82M |
|
813
Dollar Tree
DLTR
$25.8B
| $8.09M | 0.01% |
86,064
-83,100
| -49% | -$8.72M |
|
814
Wendy's
WEN
$1.74B
| $8.04M | 0.01% |
362,185
+150,964
| +71% | +$3.2M |
|
815
MGM Resorts International
MGM
$10.9B
| $8.04M | 0.01% |
241,552
-58,506
| -19% | -$1.78M |
|
816
Arrowhead Research
ARWR
$12.6B
| $8.01M | 0.01% |
126,196
-39,881
| -24% | -$1.98M |
|
817
Lamar Advertising Co
LAMR
$15.4B
| $7.99M | 0.01% |
89,543
+26,455
| +42% | +$2.21M |
|
818
Lattice Semiconductor
LSCC
$16.5B
| $7.97M | 0.01% |
416,684
-100,030
| -19% | -$1.92M |
|
819
Lantheus
LNTH
$6.58B
| $7.92M | 0.01% |
386,071
-82,053
| -18% | -$1.66M |
|
820
Corteva
CTVA
$55.4B
| $7.9M | 0.01% |
270,587
+249,958
| +1,212% | +$6.62M |
|
821
Astronics
ATRO
$3.2B
| $7.87M | 0.01% |
337,770
-108,128
| -24% | -$2.65M |
|
822
Yelp
YELP
$1.29B
| $7.78M | 0.01% |
223,341
-51,520
| -19% | -$1.75M |
|
823
Petrobras Class A
PBR.A
$103B
| $7.77M | 0.01% |
520,639
-37,947
| -7% | -$538K |
|
|
WIRE
824
DELISTED
Encore Wire Corp
WIRE
| $7.73M | 0.01% |
134,592
-7,355
| -5% | -$422K |
|
825
Unifirst Corp
UNF
$5.21B
| $7.72M | 0.01% |
38,246
-1,344
| -3% | -$273K |
|
Similar funds
Cliff Asness's Q4 2019 Portfolio in Review
As of Q4 2019, Cliff Asness held 2,253 positions worth $88B, up 3.6% from $84.9B the previous quarter. Its ten largest holdings account for 13% of the portfolio.
Cliff Asness withdrew a net $3.28B in Q4 2019, closing 142 positions and reducing 1,092 holdings. Its most notable exit was iShares Russell 3000 ETF, an estimated $198M position sold in full.
By sector, the portfolio is most concentrated in Technology at 20% of assets, up from 20% a quarter earlier, followed by Financials and Healthcare.
Against the trend, Cliff Asness opened a new position in DaVita worth $31.1M.
- Cliff Asness's largest Q4 2019 buy was DaVita: 417,883 shares worth $31.1M.
- Cliff Asness added most to Humana in Q4 2019, an estimated $267M increase.
- Cliff Asness's biggest Q4 2019 reduction was HP, cutting an estimated $287M.
- Cliff Asness fully exited iShares Russell 3000 ETF in Q4 2019, selling an estimated $198M.
- Cliff Asness's ten largest holdings make up 13% of its $88B portfolio in Q4 2019.
- Cliff Asness opened 146 new positions and closed 142 in Q4 2019.
- Cliff Asness's portfolio value rose 3.6% quarter-over-quarter to $88B.
Based on AQR Capital Management's 13F filing for Q4 2019, filed 14 Feb 2020.