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 | |
|---|---|---|---|---|---|---|
76
Infosys
INFY
$48.4B
| $208M | 0.29% |
27,993,760
-2,677,328
| -9% | -$20.1M |
|
77
Republic Services
RSG
$67.6B
| $206M | 0.28% |
3,609,790
+7,198
| +0.2% | +$386K |
|
78
D.R. Horton
DHI
$41.5B
| $203M | 0.28% |
7,411,690
+568,013
| +8% | +$16.2M |
|
|
SPR
79
DELISTED
Spirit AeroSystems
SPR
| $201M | 0.28% |
3,446,801
+139,527
| +4% | +$7.57M |
|
80
Citigroup
C
$221B
| $201M | 0.28% |
3,382,844
+1,013,555
| +43% | +$54.7M |
|
81
Parker-Hannifin
PH
$126B
| $200M | 0.28% |
1,429,288
+647,693
| +83% | +$86.1M |
|
82
Xcel Energy
XEL
$47.7B
| $197M | 0.27% |
4,840,705
+1,420,193
| +42% | +$56.8M |
|
83
NVIDIA
NVDA
$5.2T
| $197M | 0.27% |
73,715,400
+1,193,480
| +2% | +$2.49M |
|
84
United Therapeutics
UTHR
$22B
| $195M | 0.27% |
1,358,962
-224,895
| -14% | -$28.7M |
|
85
IBM
IBM
$222B
| $193M | 0.27% |
1,213,928
+72,005
| +6% | +$11M |
|
86
UGI
UGI
$8.06B
| $192M | 0.26% |
4,156,354
+1,513,908
| +57% | +$67.8M |
|
87
International Paper
IP
$22B
| $191M | 0.26% |
3,793,147
+1,158,678
| +44% | +$53.6M |
|
88
Biogen
BIIB
$32B
| $191M | 0.26% |
672,032
-50,572
| -7% | -$15M |
|
89
General Dynamics
GD
$104B
| $190M | 0.26% |
1,102,646
-289,936
| -21% | -$47.4M |
|
90
Kimberly-Clark
KMB
$36.4B
| $190M | 0.26% |
1,667,913
-375,801
| -18% | -$43.6M |
|
91
Unum
UNM
$13.9B
| $189M | 0.26% |
4,304,415
+1,163,389
| +37% | +$46.5M |
|
92
iShares Russell 3000 ETF
IWV
$20.2B
| $189M | 0.26% |
1,420,000
-260,558
| -16% | -$33.8M |
|
93
Altria Group
MO
$110B
| $187M | 0.26% |
2,759,260
-647,909
| -19% | -$41.7M |
|
|
CTXS
94
DELISTED
Citrix Systems Inc
CTXS
| $186M | 0.26% |
2,615,401
-543,149
| -17% | -$37.6M |
|
95
Conagra Brands
CAG
$7.89B
| $186M | 0.26% |
4,691,353
-1,765,200
| -27% | -$66M |
|
96
3M
MMM
$92.3B
| $185M | 0.26% |
1,238,544
+43,246
| +4% | +$6.24M |
|
97
Stellantis
STLA
$20.4B
| $184M | 0.25% |
20,193,317
+411,240
| +2% | +$3.08M |
|
98
Owens Corning
OC
$11.7B
| $183M | 0.25% |
3,556,671
+405,172
| +13% | +$21M |
|
99
Comcast
CMCSA
$95.3B
| $181M | 0.25% |
5,247,350
-102,874
| -2% | -$3.44M |
|
100
Keurig Dr Pepper
KDP
$43.6B
| $180M | 0.25% |
1,985,914
-521,207
| -21% | -$45.7M |
|
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.