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 |
Capital One
COF
|
+$129M |
| 2 |
EOG Resources
EOG
|
+$112M |
| 3 |
Trane Technologies
TT
|
+$81.4M |
| 4 |
Deere & Co
DE
|
+$74.4M |
| 5 |
Automatic Data Processing
ADP
|
+$66.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$763M |
| 2 |
Amazon
AMZN
|
+$183M |
| 3 |
Apple
AAPL
|
+$171M |
| 4 |
Oracle
ORCL
|
+$162M |
| 5 |
Kroger
KR
|
+$156M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 23.33% |
| 2 | Healthcare | 15.26% |
| 3 | Industrials | 12.9% |
| 4 | Financials | 12.31% |
| 5 | Consumer Discretionary | 11.77% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Monster Beverage
MNST
$93.6B
| $160M | 0.3% |
7,221,624
-680,484
| -9% | -$16.1M |
|
|
GRMN
77
Garmin
GRMN
$56.9B
| $158M | 0.29% |
1,018,448
-251,884
| -20% | -$41M |
|
78
Waste Management
WM
$89.6B
| $157M | 0.29% |
1,053,727
-3,408
| -0.3% | -$510K |
|
79
Emerson Electric
EMR
$87.7B
| $157M | 0.29% |
1,668,885
+81,451
| +5% | +$8.13M |
|
80
McDonald's
MCD
$192B
| $152M | 0.28% |
630,353
+121,149
| +24% | +$28.9M |
|
81
KLA
KLAC
$240B
| $152M | 0.28% |
4,542,240
-450,840
| -9% | -$15.1M |
|
82
Hershey
HSY
$37.5B
| $150M | 0.28% |
886,996
+72,783
| +9% | +$12.9M |
|
83
IBM
IBM
$222B
| $149M | 0.28% |
1,122,524
-208,572
| -16% | -$27.9M |
|
|
84
EOG Resources
EOG
$80.3B
| $149M | 0.28% |
1,856,647
+1,535,793
| +479% | +$112M |
|
85
Coca-Cola
KO
$392B
| $148M | 0.27% |
2,825,532
+76,112
| +3% | +$4.24M |
|
86
T. Rowe Price
TROW
$23.8B
| $144M | 0.27% |
734,553
-13,532
| -2% | -$2.85M |
|
87
Pultegroup
PHM
$24.6B
| $143M | 0.27% |
3,122,489
-153,879
| -5% | -$8M |
|
88
Skyworks Solutions
SWKS
$10.1B
| $142M | 0.26% |
861,963
-370,390
| -30% | -$67.7M |
|
89
Progressive
PGR
$127B
| $137M | 0.25% |
1,518,848
-249,446
| -14% | -$23.8M |
|
90
Intuitive Surgical
ISRG
$134B
| $137M | 0.25% |
413,760
-22,887
| -5% | -$7.69M |
|
91
Snap-on
SNA
$20.3B
| $137M | 0.25% |
654,781
+72,231
| +12% | +$16M |
|
92
O'Reilly Automotive
ORLY
$72.1B
| $137M | 0.25% |
3,357,660
+1,012,035
| +43% | +$40.5M |
|
93
Zoetis
ZTS
$32.1B
| $136M | 0.25% |
702,486
+210,723
| +43% | +$42.5M |
|
94
Bio-Rad Laboratories Class A
BIO
$10.2B
| $133M | 0.25% |
178,478
+11,753
| +7% | +$8.8M |
|
95
Newmont
NEM
$139B
| $129M | 0.24% |
2,383,701
-492,752
| -17% | -$29.1M |
|
96
T-Mobile US
TMUS
$196B
| $129M | 0.24% |
1,011,101
-41,497
| -4% | -$5.78M |
|
97
Packaging Corp of America
PKG
$22.5B
| $129M | 0.24% |
936,741
+192,695
| +26% | +$27.5M |
|
98
NextEra Energy
NEE
$174B
| $129M | 0.24% |
1,637,403
-334,876
| -17% | -$27M |
|
|
99
Kroger
KR
$35.5B
| $126M | 0.23% |
3,121,930
-3,713,024
| -54% | -$156M |
|
100
PayPal
PYPL
$52.7B
| $126M | 0.23% |
484,772
-154,629
| -24% | -$43.9M |
|
Similar funds
Cliff Asness's Q3 2021 Portfolio in Review
As of Q3 2021, Cliff Asness held 2,400 positions worth $53.9B, down 6.7% from $57.8B the previous quarter. Its ten largest holdings account for 17% of the portfolio.
Cliff Asness withdrew a net $3.34B in Q3 2021, closing 165 positions and reducing 1,029 holdings. Its most notable exit was Alibaba, an estimated $763M position sold in full.
By sector, the portfolio is most concentrated in Technology at 23% of assets, up from 23% a quarter earlier, followed by Healthcare and Industrials.
Against the trend, Cliff Asness opened a new position in Albertsons Companies worth $15M.
- Cliff Asness's largest Q3 2021 buy was Albertsons Companies: 481,384 shares worth $15M.
- Cliff Asness added most to Capital One in Q3 2021, an estimated $129M increase.
- Cliff Asness's biggest Q3 2021 reduction was Amazon, cutting an estimated $183M.
- Cliff Asness fully exited Alibaba in Q3 2021, selling an estimated $763M.
- Cliff Asness's ten largest holdings make up 17% of its $53.9B portfolio in Q3 2021.
- Cliff Asness opened 176 new positions and closed 165 in Q3 2021.
- Cliff Asness's portfolio value fell 6.7% quarter-over-quarter to $53.9B.
Based on AQR Capital Management's 13F filing for Q3 2021, filed 15 Nov 2021.