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 |
Western Digital
WDC
|
+$358M |
| 2 |
Walt Disney
DIS
|
+$340M |
| 3 |
General Motors
GM
|
+$324M |
| 4 |
Meta Platforms (Facebook)
META
|
+$272M |
| 5 |
Gilead Sciences
GILD
|
+$259M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HP
HPQ
|
+$216M |
| 2 |
UnitedHealth
UNH
|
+$181M |
| 3 |
Tyson Foods
TSN
|
+$179M |
| 4 |
LLL
L3 Technologies, Inc.
LLL
|
+$154M |
| 5 |
Applied Materials
AMAT
|
+$151M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 16.49% |
| 2 | Technology | 16.15% |
| 3 | Healthcare | 15.12% |
| 4 | Industrials | 13.44% |
| 5 | Consumer Discretionary | 12.88% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1526
FIVE9
FIVN
$2.45B
| $1.43M | ﹤0.01% |
59,648
-49,615
| -45% | -$1.08M |
|
|
TSC
1527
DELISTED
TriState Capital Holdings, Inc.
TSC
| $1.43M | ﹤0.01% |
62,266
+18,539
| +42% | +$417K |
|
1528
RCI Hospitality Holdings
RICK
$235M
| $1.42M | ﹤0.01% |
+57,549
| New | +$1.37M |
|
1529
Moelis & Co
MC
$5.07B
| $1.42M | ﹤0.01% |
33,041
+13,912
| +73% | +$557K |
|
|
DOC
1530
DELISTED
PHYSICIANS REALTY TRUST
DOC
| $1.42M | ﹤0.01% |
79,951
+9,428
| +13% | +$174K |
|
|
LL
1531
DELISTED
LL Flooring Holdings, Inc.
LL
| $1.41M | ﹤0.01% |
+36,136
| New | +$1.2M |
|
1532
Forestar Group
FOR
$1.47B
| $1.41M | ﹤0.01% |
81,670
-320
| -0.4% | -$5.5K |
|
|
STOR
1533
DELISTED
STORE Capital Corporation
STOR
| $1.4M | ﹤0.01% |
56,379
-109,916
| -66% | -$2.67M |
|
|
IBTX
1534
DELISTED
Independent Bank Group, Inc.
IBTX
| $1.4M | ﹤0.01% |
23,225
-4,849
| -17% | -$282K |
|
1535
Adtran
ADTN
$628M
| $1.4M | ﹤0.01% |
58,307
+35,005
| +150% | +$774K |
|
|
CTRA
1536
DELISTED
Coterra Energy
CTRA
| $1.39M | ﹤0.01% |
+51,863
| New | +$1.32M |
|
|
INN
1537
Summit Hotel Properties
INN
$662M
| $1.38M | ﹤0.01% |
86,513
-183,041
| -68% | -$2.97M |
|
1538
Cars.com
CARS
$662M
| $1.38M | ﹤0.01% |
51,898
-629,990
| -92% | -$16M |
|
1539
Cencora
COR
$61.8B
| $1.38M | ﹤0.01% |
16,691
-146,011
| -90% | -$12.4M |
|
1540
Primoris Services
PRIM
$4.04B
| $1.38M | ﹤0.01% |
+46,844
| New | +$1.25M |
|
|
DCT
1541
DELISTED
DCT Industrial Trust Inc.
DCT
| $1.38M | ﹤0.01% |
23,768
+2,603
| +12% | +$148K |
|
|
FSB
1542
DELISTED
Franklin Financial Network, Inc.
FSB
| $1.38M | ﹤0.01% |
38,572
-1,945
| -5% | -$68.7K |
|
1543
Mercury Systems
MRCY
$5.38B
| $1.37M | ﹤0.01% |
26,453
+2,677
| +11% | +$123K |
|
|
CALY
1544
Callaway Golf Company
CALY
$2.82B
| $1.37M | ﹤0.01% |
94,960
+5,781
| +6% | +$76.5K |
|
1545
RE/MAX Holdings
RMAX
$263M
| $1.37M | ﹤0.01% |
21,553
+9,969
| +86% | +$597K |
|
1546
JB Hunt Transport Services
JBHT
$24.4B
| $1.37M | ﹤0.01% |
12,308
-51,377
| -81% | -$4.97M |
|
1547
Winnebago Industries
WGO
$909M
| $1.37M | ﹤0.01% |
30,519
-930
| -3% | -$34.2K |
|
1548
Weis Markets
WMK
$1.76B
| $1.37M | ﹤0.01% |
31,398
-12,725
| -29% | -$578K |
|
1549
Tetra Tech
TTEK
$9.44B
| $1.35M | ﹤0.01% |
145,595
-102,555
| -41% | -$901K |
|
1550
Inogen
INGN
$146M
| $1.35M | ﹤0.01% |
14,218
+96
| +0.7% | +$9.26K |
|
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Cliff Asness's Q3 2017 Portfolio in Review
As of Q3 2017, Cliff Asness held 2,363 positions worth $83.8B, up 11% from $75.6B the previous quarter. Its ten largest holdings account for 9.7% of the portfolio.
Cliff Asness deployed $4.02B of net new capital in Q3 2017, opening 175 new positions and adding to 947 existing holdings. Its largest new stake was Micro Focus International plc. American Depositary Shares, each representing One Ordinary Share: 1,803,127 shares worth $69.6M.
By sector, the portfolio is most concentrated in Financials at 16% of assets, down from 17% a quarter earlier, followed by Technology and Healthcare.
On the sell side, the largest reduction was HP, an estimated $216M trimmed.
- Cliff Asness's largest Q3 2017 buy was Micro Focus International plc. American Depositary Shares, each representing One Ordinary Share: 1,803,127 shares worth $69.6M.
- Cliff Asness added most to Western Digital in Q3 2017, an estimated $358M increase.
- Cliff Asness's biggest Q3 2017 reduction was HP, cutting an estimated $216M.
- Cliff Asness fully exited Invesco QQQ Trust in Q3 2017, selling an estimated $98.7M.
- Cliff Asness's ten largest holdings make up 9.7% of its $83.8B portfolio in Q3 2017.
- Cliff Asness opened 175 new positions and closed 129 in Q3 2017.
- Cliff Asness's portfolio value rose 11% quarter-over-quarter to $83.8B.
Based on AQR Capital Management's 13F filing for Q3 2017, filed 14 Nov 2017.