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 |
SHPG
Shire pic
SHPG
|
+$147M |
| 2 |
Gilead Sciences
GILD
|
+$127M |
| 3 |
Intel
INTC
|
+$114M |
| 4 |
LO
LORILLARD INC COM STK
LO
|
+$113M |
| 5 |
TWX
Time Warner Inc
TWX
|
+$112M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
FRX
FOREST LABORATORIES INC
FRX
|
+$243M |
| 2 |
WNR
Western Refining Inc
WNR
|
+$148M |
| 3 |
UNS
UNS ENERGY CORP COM
UNS
|
+$123M |
| 4 |
HSH
HILLSHIRE BRANDS CO
HSH
|
+$118M |
| 5 |
CELG
Celgene Corp
CELG
|
+$106M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 14.66% |
| 2 | Technology | 13.5% |
| 3 | Energy | 10.11% |
| 4 | Financials | 9.6% |
| 5 | Industrials | 9.29% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
FINL
1076
DELISTED
Finish Line
FINL
| $2.45M | 0.01% |
98,001
+17,500
| +22% | +$501K |
|
|
RPAI
1077
DELISTED
RETAIL PROPERTIES OF AMERICA, INC.
RPAI
| $2.45M | 0.01% |
167,400
+15,300
| +10% | +$236K |
|
|
NBL
1078
DELISTED
Noble Energy, Inc.
NBL
| $2.44M | 0.01% |
35,638
-154,400
| -81% | -$11M |
|
1079
W.W. Grainger
GWW
$62.3B
| $2.43M | 0.01% |
9,668
-10,004
| -51% | -$2.45M |
|
1080
Principal Financial Group
PFG
$24B
| $2.43M | 0.01% |
46,294
-17,100
| -27% | -$895K |
|
1081
Gentherm
THRM
$1.21B
| $2.43M | 0.01% |
57,457
-11,200
| -16% | -$526K |
|
1082
United Parks & Resorts
PRKS
$2.03B
| $2.42M | 0.01% |
125,800
+118,200
| +1,555% | +$2.82M |
|
|
VGR
1083
DELISTED
Vector Group Ltd.
VGR
| $2.42M | 0.01% |
196,150
+48,509
| +33% | +$569K |
|
1084
Baxter International
BAX
$13.7B
| $2.41M | 0.01% |
61,878
-49,523
| -44% | -$2.01M |
|
|
VER
1085
DELISTED
VEREIT, Inc.
VER
| $2.41M | 0.01% |
39,907
-25,098
| -39% | -$1.61M |
|
|
MNTA
1086
DELISTED
Momenta Pharmaceuticals, Inc.
MNTA
| $2.41M | 0.01% |
212,200
-184,900
| -47% | -$2.11M |
|
|
CXP
1087
DELISTED
COLUMBIA PROPERTY TRUST, INC.
CXP
| $2.4M | 0.01% |
+100,500
| New | +$2.55M |
|
1088
HCI Group
HCI
$2.31B
| $2.39M | 0.01% |
66,523
-11,700
| -15% | -$473K |
|
1089
Royal Bank of Canada
RY
$284B
| $2.39M | 0.01% |
+33,400
| New | +$2.46M |
|
1090
MSCI
MSCI
$41.5B
| $2.38M | 0.01% |
50,700
+27,900
| +122% | +$1.29M |
|
1091
Grand Canyon Education
LOPE
$3.85B
| $2.38M | 0.01% |
58,362
-11,100
| -16% | -$483K |
|
|
SIR
1092
DELISTED
SELECT INCOME REIT
SIR
| $2.38M | 0.01% |
224,770
+12,740
| +6% | +$154K |
|
|
GTLS
1093
DELISTED
Chart Industries
GTLS
| $2.37M | 0.01% |
38,775
-200
| -0.5% | -$14.2K |
|
|
PCL
1094
DELISTED
PLUM CREEK TIMBER CO (REIT)
PCL
| $2.37M | 0.01% |
60,700
+20,300
| +50% | +$846K |
|
1095
Alnylam Pharmaceuticals
ALNY
$31.6B
| $2.36M | 0.01% |
30,269
+2,264
| +8% | +$146K |
|
1096
Teradata
TDC
$2.56B
| $2.36M | 0.01% |
56,376
+2,700
| +5% | +$116K |
|
|
PPS
1097
DELISTED
Post Properties
PPS
| $2.36M | 0.01% |
45,912
+600
| +1% | +$32.5K |
|
1098
Terex
TEX
$7.53B
| $2.35M | 0.01% |
74,090
+6,052
| +9% | +$221K |
|
|
CIT
1099
DELISTED
CIT Group Inc.
CIT
| $2.35M | 0.01% |
51,200
-56,100
| -52% | -$2.66M |
|
|
PVA
1100
DELISTED
PENN VIRGINIA CORP
PVA
| $2.35M | 0.01% |
184,813
-190,400
| -51% | -$2.67M |
|
Similar funds
Cliff Asness's Q3 2014 Portfolio in Review
As of Q3 2014, Cliff Asness held 2,708 positions worth $36.4B, down 1.9% from $37.1B the previous quarter. Its ten largest holdings account for 9.4% of the portfolio.
Cliff Asness withdrew a net $2.61B in Q3 2014, closing 203 positions and reducing 1,062 holdings. Its most notable exit was FOREST LABORATORIES INC, an estimated $243M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 15% of assets, down from 15% a quarter earlier, followed by Technology and Energy.
Against the trend, Cliff Asness opened a new position in BALLY TECHNOLOGIES, INC. worth $80.5M.
- Cliff Asness's largest Q3 2014 buy was BALLY TECHNOLOGIES, INC.: 997,907 shares worth $80.5M.
- Cliff Asness added most to Shire pic in Q3 2014, an estimated $147M increase.
- Cliff Asness's biggest Q3 2014 reduction was Western Refining Inc, cutting an estimated $148M.
- Cliff Asness fully exited FOREST LABORATORIES INC in Q3 2014, selling an estimated $243M.
- Cliff Asness's ten largest holdings make up 9.4% of its $36.4B portfolio in Q3 2014.
- Cliff Asness opened 200 new positions and closed 203 in Q3 2014.
- Cliff Asness's portfolio value fell 1.9% quarter-over-quarter to $36.4B.
Based on AQR Capital Management's 13F filing for Q3 2014, filed 14 Nov 2014.