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 | |
|---|---|---|---|---|---|---|
1251
Kforce
KFRC
$1.03B
| $1.73M | ﹤0.01% |
88,403
-6,600
| -7% | -$133K |
|
|
IVC
1252
DELISTED
Invacare Corporation
IVC
| $1.73M | ﹤0.01% |
146,442
-77,987
| -35% | -$1.19M |
|
1253
La-Z-Boy
LZB
$1.29B
| $1.73M | ﹤0.01% |
87,285
-14,400
| -14% | -$312K |
|
|
EVV
1254
Eaton Vance Limited Duration Income Fund
EVV
$1.06B
| $1.73M | ﹤0.01% |
118,364
+51,236
| +76% | +$773K |
|
1255
Lithia Motors
LAD
$8.1B
| $1.73M | ﹤0.01% |
22,795
-2,000
| -8% | -$177K |
|
|
NIO
1256
DELISTED
NUVEEN MUNICIPAL OPPORTUNITY FUND INC
NIO
| $1.72M | ﹤0.01% |
120,902
+4,884
| +4% | +$68.7K |
|
1257
Ionis Pharmaceuticals
IONS
$10.3B
| $1.72M | ﹤0.01% |
44,247
-101,600
| -70% | -$3.6M |
|
1258
BWX Technologies
BWXT
$13.7B
| $1.71M | ﹤0.01% |
86,536
-143,016
| -62% | -$3.09M |
|
|
AMWD
1259
DELISTED
American Woodmark
AMWD
| $1.71M | ﹤0.01% |
46,470
-3,700
| -7% | -$128K |
|
|
ACH
1260
Accendra Health
ACH
$89.2M
| $1.71M | ﹤0.01% |
52,307
-47,066
| -47% | -$1.6M |
|
1261
Raymond James Financial
RJF
$34B
| $1.71M | ﹤0.01% |
47,850
+13,500
| +39% | +$472K |
|
|
WEB
1262
DELISTED
Web.com Group, Inc.
WEB
| $1.7M | ﹤0.01% |
85,365
-31,376
| -27% | -$704K |
|
|
PDLI
1263
DELISTED
PDL BioPharma, Inc.
PDLI
| $1.7M | ﹤0.01% |
227,709
-1,216,751
| -84% | -$11.3M |
|
|
PMO
1264
Franklin Municipal Opportunities Trust
PMO
$281M
| $1.7M | ﹤0.01% |
145,162
+27,092
| +23% | +$315K |
|
1265
Service Corp International
SCI
$11.5B
| $1.7M | ﹤0.01% |
80,235
-312,156
| -80% | -$6.65M |
|
|
AAT
1266
American Assets Trust
AAT
$1.41B
| $1.7M | ﹤0.01% |
51,400
+5,700
| +12% | +$198K |
|
1267
Charter Communications
CHTR
$17.9B
| $1.7M | ﹤0.01% |
11,200
-200
| -2% | -$31.7K |
|
1268
Heartland Express
HTLD
$967M
| $1.69M | ﹤0.01% |
70,700
+1,000
| +1% | +$23.1K |
|
|
JNS
1269
DELISTED
Janus Capital Group Inc
JNS
| $1.69M | ﹤0.01% |
116,200
+70,200
| +153% | +$852K |
|
1270
COPT Defense Properties
CDP
$4.25B
| $1.68M | ﹤0.01% |
65,490
+42,300
| +182% | +$1.18M |
|
1271
California Water Service
CWT
$3.14B
| $1.68M | ﹤0.01% |
75,000
-35,900
| -32% | -$845K |
|
1272
Advanced Energy
AEIS
$11B
| $1.68M | ﹤0.01% |
89,498
-58,300
| -39% | -$1.07M |
|
1273
Chunghwa Telecom
CHT
$33.5B
| $1.67M | ﹤0.01% |
55,763
-13,250
| -19% | -$409K |
|
|
MDSO
1274
DELISTED
Medidata Solutions, Inc.
MDSO
| $1.67M | ﹤0.01% |
37,610
-17,500
| -32% | -$775K |
|
|
ASEI
1275
DELISTED
AMER SCIENCE & ENGR INC.
ASEI
| $1.66M | ﹤0.01% |
29,900
-10,600
| -26% | -$650K |
|
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.