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 |
Humana
HUM
|
+$111M |
| 2 |
Verizon
VZ
|
+$103M |
| 3 |
AT&T
T
|
+$103M |
| 4 |
Kroger
KR
|
+$97.1M |
| 5 |
3M
MMM
|
+$92.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Gilead Sciences
GILD
|
+$138M |
| 2 |
Tesla
TSLA
|
+$110M |
| 3 |
JPMorgan Chase
JPM
|
+$103M |
| 4 |
Regeneron Pharmaceuticals
REGN
|
+$89.4M |
| 5 |
Apple
AAPL
|
+$85.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 19.58% |
| 2 | Healthcare | 16.26% |
| 3 | Financials | 11.97% |
| 4 | Industrials | 11.47% |
| 5 | Consumer Discretionary | 10.43% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
BFS
1226
Saul Centers
BFS
$844M
| $2.12M | ﹤0.01% |
52,047
+4,835
| +10% | +$196K |
|
1227
Twilio
TWLO
$34.2B
| $2.12M | ﹤0.01% |
+44,160
| New | +$2.51M |
|
|
NFBK
1228
DELISTED
Northfield Bancorp
NFBK
| $2.12M | ﹤0.01% |
134,498
-130,231
| -49% | -$2.01M |
|
|
SHYF
1229
DELISTED
The Shyft Group
SHYF
| $2.11M | ﹤0.01% |
84,715
-23,182
| -21% | -$540K |
|
1230
Clearwater Paper
CLW
$343M
| $2.1M | ﹤0.01% |
55,639
+23,230
| +72% | +$906K |
|
1231
Certara
CERT
$1.21B
| $2.1M | ﹤0.01% |
130,516
+25,335
| +24% | +$367K |
|
1232
Signet Jewelers
SIG
$3.24B
| $2.09M | ﹤0.01% |
30,775
-11,402
| -27% | -$726K |
|
|
TDAY
1233
USA Today Co
TDAY
$941M
| $2.09M | ﹤0.01% |
1,028,594
+565,424
| +122% | +$1.09M |
|
1234
Ross Stores
ROST
$77.5B
| $2.08M | ﹤0.01% |
18,053
+15,039
| +499% | +$1.53M |
|
|
LGTY
1235
DELISTED
Logility Supply Chain Solutions, Inc. Common Stock
LGTY
| $2.07M | ﹤0.01% |
140,964
-35,390
| -20% | -$543K |
|
1236
Outfront Media
OUT
$5.36B
| $2.07M | ﹤0.01% |
126,759
+31,047
| +32% | +$524K |
|
|
SEI
1237
Solaris Energy Infrastructure
SEI
$3.52B
| $2.07M | ﹤0.01% |
208,073
+44,699
| +27% | +$490K |
|
1238
Malibu Boats
MBUU
$579M
| $2.06M | ﹤0.01% |
38,740
+2,816
| +8% | +$151K |
|
1239
Ligand Pharmaceuticals
LGND
$5.59B
| $2.05M | ﹤0.01% |
31,108
-14,800
| -32% | -$962K |
|
1240
Sensient Technologies
SXT
$5.85B
| $2.05M | ﹤0.01% |
28,160
-27,496
| -49% | -$1.97M |
|
1241
PennyMac Financial
PFSI
$3.91B
| $2.05M | ﹤0.01% |
36,181
-5,473
| -13% | -$290K |
|
1242
SouthState Bank Corp
SSB
$10.4B
| $2.05M | ﹤0.01% |
26,823
+18,614
| +227% | +$1.56M |
|
1243
PC Connection
CNXN
$1.94B
| $2.05M | ﹤0.01% |
43,664
+18,589
| +74% | +$933K |
|
1244
Heritage Financial
HFWA
$1.19B
| $2.04M | ﹤0.01% |
66,565
-34,844
| -34% | -$1.09M |
|
1245
Noble Corp
NE
$7.34B
| $2.03M | ﹤0.01% |
+53,935
| New | +$1.92M |
|
1246
Peoples Bancorp
PEBO
$1.43B
| $2.03M | ﹤0.01% |
71,985
+44,890
| +166% | +$1.32M |
|
|
SP
1247
DELISTED
SP Plus Corporation
SP
| $2.03M | ﹤0.01% |
58,567
-1,723
| -3% | -$59.4K |
|
1248
StoneCo
STNE
$2.2B
| $2.03M | ﹤0.01% |
217,823
+191,330
| +722% | +$2M |
|
1249
Mueller Water Products
MWA
$3.93B
| $2.03M | ﹤0.01% |
188,625
+16,562
| +10% | +$185K |
|
1250
Angi Inc
ANGI
$200M
| $2.01M | ﹤0.01% |
85,740
+80,220
| +1,453% | +$1.79M |
|
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Cliff Asness's Q4 2022 Portfolio in Review
As of Q4 2022, Cliff Asness held 2,343 positions worth $43.9B, up 7% from $41B the previous quarter. Its ten largest holdings account for 13% of the portfolio.
Cliff Asness's Q4 2022 filing shows 170 new, 997 increased, 1,015 reduced and 150 closed positions. Its largest new stake was Generac Holdings: 310,080 shares worth $30.5M. The largest sale was Gilead Sciences, an estimated $138M.
By sector, the portfolio is most concentrated in Technology at 20% of assets, down from 20% a quarter earlier, followed by Healthcare and Financials.
- Cliff Asness's largest Q4 2022 buy was Generac Holdings: 310,080 shares worth $30.5M.
- Cliff Asness added most to Humana in Q4 2022, an estimated $111M increase.
- Cliff Asness's biggest Q4 2022 reduction was Gilead Sciences, cutting an estimated $138M.
- Cliff Asness fully exited Abiomed Inc in Q4 2022, selling an estimated $22.4M.
- Cliff Asness's ten largest holdings make up 13% of its $43.9B portfolio in Q4 2022.
- Cliff Asness opened 170 new positions and closed 150 in Q4 2022.
- Cliff Asness's portfolio value rose 7% quarter-over-quarter to $43.9B.
Based on AQR Capital Management's 13F filing for Q4 2022, filed 14 Feb 2023.