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 |
Applied Materials
AMAT
|
+$325M |
| 2 |
Intel
INTC
|
+$193M |
| 3 |
Johnson & Johnson
JNJ
|
+$175M |
| 4 |
HP
HPQ
|
+$161M |
| 5 |
ExxonMobil
XOM
|
+$134M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Yum! Brands
YUM
|
+$126M |
| 2 |
HCA Healthcare
HCA
|
+$106M |
| 3 |
HF Sinclair
DINO
|
+$90.5M |
| 4 |
Carnival Corporation Ltd
CCL
|
+$88.9M |
| 5 |
VIAB
Viacom Inc. Class B
VIAB
|
+$77.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 16.52% |
| 2 | Industrials | 13.48% |
| 3 | Financials | 13.29% |
| 4 | Consumer Discretionary | 12.48% |
| 5 | Healthcare | 10.6% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1101
Progress Software
PRGS
$1.78B
| $3.9M | 0.01% |
143,187
-3,722
| -3% | -$106K |
|
1102
Albemarle
ALB
$16.7B
| $3.89M | 0.01% |
+45,478
| New | +$3.75M |
|
1103
Comscore
SCOR
$73.6M
| $3.88M | 0.01% |
6,319
+620
| +11% | +$352K |
|
1104
Ryman Hospitality Properties
RHP
$9.05B
| $3.86M | 0.01% |
80,247
+37,883
| +89% | +$2.01M |
|
1105
Coeur Mining
CDE
$21.5B
| $3.86M | 0.01% |
326,424
+225,645
| +224% | +$3.09M |
|
|
CONE
1106
DELISTED
CyrusOne Inc Common Stock
CONE
| $3.86M | 0.01% |
81,110
-36,864
| -31% | -$1.91M |
|
1107
Microchip Technology
MCHP
$40.3B
| $3.85M | 0.01% |
124,028
+21,286
| +21% | +$619K |
|
|
ROIC
1108
DELISTED
Retail Opportunity Investments Corp.
ROIC
| $3.85M | 0.01% |
175,479
+27,110
| +18% | +$603K |
|
1109
Prosperity Bancshares
PB
$8.74B
| $3.84M | 0.01% |
70,011
+9,077
| +15% | +$481K |
|
|
FNBC
1110
DELISTED
First NBC Bank Holding Company
FNBC
| $3.84M | 0.01% |
407,141
+248,561
| +157% | +$3.61M |
|
1111
Citi Trends
CTRN
$619M
| $3.84M | 0.01% |
192,800
-34,500
| -15% | -$631K |
|
|
FLIR
1112
DELISTED
FLIR Systems, Inc. (DE) Common Stock
FLIR
| $3.82M | 0.01% |
121,720
+34,753
| +40% | +$1.09M |
|
1113
American Airlines Group
AAL
$9.02B
| $3.81M | 0.01% |
104,175
-188,982
| -64% | -$6.68M |
|
|
EQC
1114
DELISTED
Equity Commonwealth
EQC
| $3.79M | 0.01% |
125,518
-40,659
| -24% | -$1.23M |
|
1115
Tetra Tech
TTEK
$9.44B
| $3.79M | 0.01% |
534,160
-16,310
| -3% | -$111K |
|
1116
Maximus
MMS
$3.05B
| $3.78M | 0.01% |
66,854
-67
| -0.1% | -$3.9K |
|
|
WBS
1117
DELISTED
Webster Financial
WBS
| $3.77M | 0.01% |
99,296
-11,146
| -10% | -$410K |
|
1118
Mistras Group
MG
$608M
| $3.77M | 0.01% |
160,531
+22,175
| +16% | +$543K |
|
|
PEI
1119
DELISTED
Pennsylvania Real Estate Investment Trust
PEI
| $3.76M | 0.01% |
10,890
+2,995
| +38% | +$1.07M |
|
|
FCH
1120
DELISTED
Felcor Lodging Trust
FCH
| $3.72M | 0.01% |
578,982
+293,037
| +102% | +$1.91M |
|
1121
Nelnet
NNI
$4.57B
| $3.7M | 0.01% |
91,725
-917
| -1% | -$34.2K |
|
1122
Cimpress
CMPR
$2.13B
| $3.7M | 0.01% |
36,586
+17,864
| +95% | +$1.74M |
|
|
MPT
1123
Medical Properties Trust
MPT
$2.46B
| $3.7M | 0.01% |
250,520
+50,050
| +25% | +$757K |
|
|
I
1124
DELISTED
INTELSAT S. A.
I
| $3.69M | 0.01% |
1,362,637
+421,496
| +45% | +$1.14M |
|
1125
Texas Capital Bancshares
TCBI
$4.26B
| $3.69M | 0.01% |
67,108
+46,361
| +223% | +$2.34M |
|
Similar funds
Cliff Asness's Q3 2016 Portfolio in Review
As of Q3 2016, Cliff Asness held 2,383 positions worth $65.3B, up 15% from $56.7B the previous quarter. Its ten largest holdings account for 9% of the portfolio.
Cliff Asness deployed $6.43B of net new capital in Q3 2016, opening 194 new positions and adding to 1,282 existing holdings. Its largest new stake was Hertz Global Holdings, Inc.: 398,723 shares worth $13.9M.
By sector, the portfolio is most concentrated in Technology at 17% of assets, up from 14% a quarter earlier, followed by Industrials and Financials.
On the sell side, the largest reduction was Yum! Brands, an estimated $126M trimmed.
- Cliff Asness's largest Q3 2016 buy was Hertz Global Holdings, Inc.: 398,723 shares worth $13.9M.
- Cliff Asness added most to Applied Materials in Q3 2016, an estimated $325M increase.
- Cliff Asness's biggest Q3 2016 reduction was Yum! Brands, cutting an estimated $126M.
- Cliff Asness fully exited EMC CORPORATION in Q3 2016, selling an estimated $55.4M.
- Cliff Asness's ten largest holdings make up 9% of its $65.3B portfolio in Q3 2016.
- Cliff Asness opened 194 new positions and closed 140 in Q3 2016.
- Cliff Asness's portfolio value rose 15% quarter-over-quarter to $65.3B.
Based on AQR Capital Management's 13F filing for Q3 2016, filed 14 Nov 2016.