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 |
Merck
MRK
|
+$354M |
| 2 |
Verizon
VZ
|
+$307M |
| 3 |
HCA Healthcare
HCA
|
+$256M |
| 4 |
Marathon Petroleum
MPC
|
+$239M |
| 5 |
Comcast
CMCSA
|
+$231M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Intel
INTC
|
+$361M |
| 2 |
Texas Instruments
TXN
|
+$333M |
| 3 |
LyondellBasell Industries
LYB
|
+$305M |
| 4 |
WCG
Wellcare Health Plans, Inc.
WCG
|
+$298M |
| 5 |
Northrop Grumman
NOC
|
+$282M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 20.44% |
| 2 | Technology | 18.54% |
| 3 | Consumer Discretionary | 14.07% |
| 4 | Industrials | 10.25% |
| 5 | Financials | 9.85% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
976
Helen of Troy
HELE
$666M
| $4.54M | 0.01% |
34,619
+26,244
| +313% | +$3.44M |
|
977
CubeSmart
CUBE
$9.21B
| $4.49M | 0.01% |
156,566
-12,241
| -7% | -$360K |
|
978
Portland General Electric
POR
$5.85B
| $4.48M | 0.01% |
97,733
-20,547
| -17% | -$962K |
|
979
Nelnet
NNI
$4.57B
| $4.46M | 0.01% |
85,144
-14,246
| -14% | -$767K |
|
980
Dollar Tree
DLTR
$26.3B
| $4.43M | 0.01% |
49,014
+10,213
| +26% | +$863K |
|
981
TriMas Corp
TRS
$1.42B
| $4.42M | 0.01% |
161,864
-13,373
| -8% | -$381K |
|
982
Fluor
FLR
$6.86B
| $4.41M | 0.01% |
+136,985
| New | +$5.91M |
|
|
LOXO
983
DELISTED
Loxo Oncology, Inc
LOXO
| $4.41M | 0.01% |
31,470
+5,802
| +23% | +$881K |
|
984
Great Southern Bancorp
GSBC
$857M
| $4.39M | 0.01% |
95,480
-30,971
| -24% | -$1.62M |
|
985
Marriott International
MAR
$93.9B
| $4.39M | 0.01% |
40,466
-100,609
| -71% | -$11.6M |
|
986
FIVE9
FIVN
$2.45B
| $4.38M | 0.01% |
100,220
-6,144
| -6% | -$247K |
|
987
Santander
BSBR
$43.3B
| $4.38M | 0.01% |
410,772
-204,333
| -33% | -$2.15M |
|
|
SAFM
988
DELISTED
Sanderson Farms Inc
SAFM
| $4.37M | 0.01% |
44,002
-265,083
| -86% | -$27.1M |
|
989
Avista
AVA
$3.18B
| $4.36M | 0.01% |
102,609
-13,357
| -12% | -$662K |
|
|
TLRD
990
DELISTED
Tailored Brands, Inc.
TLRD
| $4.34M | 0.01% |
318,268
+48,193
| +18% | +$993K |
|
991
Equitable Holdings
EQH
$13.4B
| $4.32M | 0.01% |
+259,689
| New | +$5.06M |
|
992
Skywest
SKYW
$3.95B
| $4.31M | 0.01% |
96,969
-1,212
| -1% | -$62.6K |
|
|
ZIXI
993
DELISTED
Zix Corporation
ZIXI
| $4.29M | 0.01% |
748,431
-84,506
| -10% | -$504K |
|
994
LPL Financial
LPLA
$28.7B
| $4.25M | ﹤0.01% |
69,643
+18,659
| +37% | +$1.14M |
|
|
ODP
995
DELISTED
ODP
ODP
| $4.25M | ﹤0.01% |
164,681
-286,832
| -64% | -$8.21M |
|
996
Kemper
KMPR
$1.63B
| $4.24M | ﹤0.01% |
63,871
-9,288
| -13% | -$677K |
|
997
J.M. Smucker
SJM
$13.5B
| $4.24M | ﹤0.01% |
45,348
+10,227
| +29% | +$1.07M |
|
998
Materion
MTRN
$4.79B
| $4.24M | ﹤0.01% |
94,145
-112,625
| -54% | -$5.99M |
|
999
HubSpot
HUBS
$12.2B
| $4.2M | ﹤0.01% |
33,405
+13,998
| +72% | +$1.83M |
|
|
OSG
1000
Octave Specialty Group
OSG
$204M
| $4.2M | ﹤0.01% |
243,452
+45,147
| +23% | +$829K |
|
Similar funds
Cliff Asness's Q4 2018 Portfolio in Review
As of Q4 2018, Cliff Asness held 2,392 positions worth $86.3B, down 17% from $105B the previous quarter. Its ten largest holdings account for 13% of the portfolio.
Cliff Asness's Q4 2018 filing shows 138 new, 818 increased, 1,174 reduced and 217 closed positions. Its largest new stake was Linde: 705,153 shares worth $111M. The largest sale was Intel, an estimated $361M.
By sector, the portfolio is most concentrated in Healthcare at 20% of assets, up from 17% a quarter earlier, followed by Technology and Consumer Discretionary.
- Cliff Asness's largest Q4 2018 buy was Linde: 705,153 shares worth $111M.
- Cliff Asness added most to Merck in Q4 2018, an estimated $354M increase.
- Cliff Asness's biggest Q4 2018 reduction was Intel, cutting an estimated $361M.
- Cliff Asness fully exited Aetna Inc in Q4 2018, selling an estimated $104M.
- Cliff Asness's ten largest holdings make up 13% of its $86.3B portfolio in Q4 2018.
- Cliff Asness opened 138 new positions and closed 217 in Q4 2018.
- Cliff Asness's portfolio value fell 17% quarter-over-quarter to $86.3B.
Based on AQR Capital Management's 13F filing for Q4 2018, filed 14 Feb 2019.