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 | |
|---|---|---|---|---|---|---|
1276
Patrick Industries
PATK
$2.73B
| $1.65M | ﹤0.01% |
131,720
+33,075
| +34% | +$421K |
|
|
BFX
1277
DELISTED
BowFlex Inc.
BFX
| $1.65M | ﹤0.01% |
138,068
+82,500
| +148% | +$955K |
|
|
SRC
1278
DELISTED
SPIRIT REALTY CAPITAL, INC.
SRC
| $1.65M | ﹤0.01% |
33,553
+16,560
| +97% | +$856K |
|
|
ACOR
1279
DELISTED
Acorda Therapeutics
ACOR
| $1.65M | ﹤0.01% |
406
-88
| -18% | -$330K |
|
|
GTAT
1280
DELISTED
GT ADVANCED TECHNOLOGIES INC COM STK (DE)
GTAT
| $1.65M | ﹤0.01% |
152,476
+8,900
| +6% | +$136K |
|
1281
Comstock Resources
CRK
$4.19B
| $1.63M | ﹤0.01% |
17,534
+10,240
| +140% | +$1.22M |
|
1282
Marriott International
MAR
$93.9B
| $1.63M | ﹤0.01% |
+23,328
| New | +$1.58M |
|
|
NMO
1283
DELISTED
NUVEEN MUNI MARKET OPPORT FUND
NMO
| $1.63M | ﹤0.01% |
122,793
+3,878
| +3% | +$51.1K |
|
1284
Roper Technologies
ROP
$41.1B
| $1.62M | ﹤0.01% |
11,100
-100
| -0.9% | -$14.7K |
|
|
DOC
1285
DELISTED
PHYSICIANS REALTY TRUST
DOC
| $1.62M | ﹤0.01% |
+118,380
| New | +$1.69M |
|
|
IGR
1286
CBRE Global Real Estate Income Fund
IGR
$704M
| $1.61M | ﹤0.01% |
192,591
-323
| -0.2% | -$2.88K |
|
|
CST
1287
DELISTED
CST Brands, Inc.
CST
| $1.61M | ﹤0.01% |
44,800
+500
| +1% | +$17.3K |
|
1288
Graphic Packaging
GPK
$3.39B
| $1.61M | ﹤0.01% |
129,351
+48,100
| +59% | +$590K |
|
|
TIF
1289
DELISTED
Tiffany & Co.
TIF
| $1.61M | ﹤0.01% |
+16,700
| New | +$1.67M |
|
|
CYBX
1290
DELISTED
CYBERONICS INC
CYBX
| $1.61M | ﹤0.01% |
31,411
-9,000
| -22% | -$519K |
|
|
ELX
1291
DELISTED
EMULEX CORP
ELX
| $1.6M | ﹤0.01% |
324,117
-44,843
| -12% | -$243K |
|
1292
Huron Consulting
HURN
$2.59B
| $1.6M | ﹤0.01% |
26,235
-4,600
| -15% | -$294K |
|
|
N
1293
DELISTED
Netsuite Inc
N
| $1.6M | ﹤0.01% |
17,856
-800
| -4% | -$67.8K |
|
1294
Invesco Municipal Trust
VKQ
$537M
| $1.6M | ﹤0.01% |
127,294
+22,745
| +22% | +$281K |
|
1295
Nordson
NDSN
$18.6B
| $1.6M | ﹤0.01% |
21,000
+11,000
| +110% | +$862K |
|
|
MWIV
1296
DELISTED
MWI VETERINARY SUPPLY, INC.
MWIV
| $1.6M | ﹤0.01% |
10,755
-5,000
| -32% | -$719K |
|
1297
Labcorp
LH
$27.5B
| $1.59M | ﹤0.01% |
18,178
-25,608
| -58% | -$2.31M |
|
|
QLGC
1298
DELISTED
QLOGIC CORP
QLGC
| $1.59M | ﹤0.01% |
173,121
-105,248
| -38% | -$1M |
|
1299
General Motors
GM
$76.3B
| $1.58M | ﹤0.01% |
49,511
-126,979
| -72% | -$4.43M |
|
|
KW
1300
DELISTED
Kennedy-Wilson Holdings
KW
| $1.58M | ﹤0.01% |
66,000
+9,800
| +17% | +$247K |
|
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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.