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 | |
|---|---|---|---|---|---|---|
|
ALOG
1451
DELISTED
Analogic Corp
ALOG
| $1.83M | ﹤0.01% |
20,630
+13,266
| +180% | +$1.15M |
|
1452
Cato Corp
CATO
$55.7M
| $1.82M | ﹤0.01% |
55,346
+6,155
| +13% | +$213K |
|
1453
Teledyne Technologies
TDY
$29B
| $1.82M | ﹤0.01% |
16,857
+1,801
| +12% | +$190K |
|
1454
TETRA Technologies
TTI
$1B
| $1.81M | ﹤0.01% |
296,529
+52,735
| +22% | +$321K |
|
|
CORE
1455
DELISTED
Core Mark Holding Co., Inc.
CORE
| $1.81M | ﹤0.01% |
50,534
-1,072
| -2% | -$46.2K |
|
1456
California Water Service
CWT
$3.14B
| $1.8M | ﹤0.01% |
56,179
+23,812
| +74% | +$769K |
|
1457
Bloomin' Brands
BLMN
$980M
| $1.8M | ﹤0.01% |
104,380
+31,708
| +44% | +$588K |
|
1458
Terreno Realty
TRNO
$7.51B
| $1.8M | ﹤0.01% |
65,349
+23,400
| +56% | +$627K |
|
1459
Littelfuse
LFUS
$10.2B
| $1.79M | ﹤0.01% |
13,913
+611
| +5% | +$74.9K |
|
1460
Wintrust Financial
WTFC
$10.3B
| $1.79M | ﹤0.01% |
32,189
-725
| -2% | -$39K |
|
|
ALXN
1461
DELISTED
Alexion Pharmaceuticals
ALXN
| $1.79M | ﹤0.01% |
14,592
+9,187
| +170% | +$1.18M |
|
|
AMAG
1462
DELISTED
AMAG Pharmaceuticals
AMAG
| $1.79M | ﹤0.01% |
72,937
+16,216
| +29% | +$405K |
|
|
PRAH
1463
DELISTED
PRA Health Sciences, Inc.
PRAH
| $1.79M | ﹤0.01% |
31,631
-25,289
| -44% | -$1.24M |
|
|
GCP
1464
DELISTED
GCP Applied Technologies Inc.
GCP
| $1.78M | ﹤0.01% |
62,998
-88,934
| -59% | -$2.47M |
|
|
ELNK
1465
DELISTED
EarthLink Holdings Corp.
ELNK
| $1.78M | ﹤0.01% |
287,254
+15,914
| +6% | +$103K |
|
1466
Haverty Furniture Companies
HVT
$430M
| $1.77M | ﹤0.01% |
88,102
-26,962
| -23% | -$527K |
|
1467
Great Southern Bancorp
GSBC
$857M
| $1.76M | ﹤0.01% |
43,370
+8,437
| +24% | +$339K |
|
1468
Essent Group
ESNT
$6.15B
| $1.76M | ﹤0.01% |
66,314
+43,191
| +187% | +$1.09M |
|
1469
TFS Financial
TFSL
$4.95B
| $1.76M | ﹤0.01% |
99,048
-18,114
| -15% | -$326K |
|
|
BSFT
1470
DELISTED
BroadSoft, Inc.
BSFT
| $1.76M | ﹤0.01% |
37,809
+11,436
| +43% | +$510K |
|
1471
Netflix
NFLX
$333B
| $1.76M | ﹤0.01% |
178,500
-175,060
| -50% | -$1.67M |
|
1472
RLI Corp
RLI
$6.11B
| $1.75M | ﹤0.01% |
51,278
+3,170
| +7% | +$109K |
|
|
LHO
1473
DELISTED
LaSalle Hotel Properties
LHO
| $1.75M | ﹤0.01% |
73,428
-10,531
| -13% | -$277K |
|
1474
CoStar Group
CSGP
$13.3B
| $1.75M | ﹤0.01% |
80,880
+39,040
| +93% | +$831K |
|
1475
Allegiant Air
ALGT
$2.23B
| $1.75M | ﹤0.01% |
13,233
+3,920
| +42% | +$533K |
|
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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.