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
|
+$267M |
| 2 |
Home Depot
HD
|
+$252M |
| 3 |
Northrop Grumman
NOC
|
+$221M |
| 4 |
Gilead Sciences
GILD
|
+$175M |
| 5 |
Dollar General
DG
|
+$137M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HP
HPQ
|
+$287M |
| 2 |
TWTR
Twitter, Inc.
TWTR
|
+$278M |
| 3 |
Biogen
BIIB
|
+$244M |
| 4 |
iShares Russell 3000 ETF
IWV
|
+$198M |
| 5 |
Exelon
EXC
|
+$185M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 20.43% |
| 2 | Financials | 14.36% |
| 3 | Healthcare | 13.9% |
| 4 | Consumer Discretionary | 13.25% |
| 5 | Industrials | 11.62% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1601
A10 Networks
ATEN
$1.83B
| $769K | ﹤0.01% |
111,868
-57,108
| -34% | -$384K |
|
1602
Enpro
NPO
$6.45B
| $764K | ﹤0.01% |
11,424
-1,772
| -13% | -$118K |
|
1603
Otter Tail
OTTR
$3.86B
| $762K | ﹤0.01% |
14,850
-1,601
| -10% | -$83.1K |
|
1604
Camden National
CAC
$961M
| $759K | ﹤0.01% |
16,482
+7,828
| +90% | +$346K |
|
1605
Sarepta Therapeutics
SRPT
$1.92B
| $759K | ﹤0.01% |
5,882
-1,754
| -23% | -$177K |
|
1606
Waterstone Financial
WSBF
$381M
| $759K | ﹤0.01% |
39,901
+16,516
| +71% | +$304K |
|
1607
Genie Energy
GNE
$402M
| $754K | ﹤0.01% |
97,504
-162,322
| -62% | -$1.27M |
|
1608
Advanced Drainage Systems
WMS
$10.6B
| $751K | ﹤0.01% |
19,344
-112
| -0.6% | -$4.14K |
|
1609
American Airlines Group
AAL
$9.02B
| $746K | ﹤0.01% |
26,165
-2,489,095
| -99% | -$71M |
|
1610
Cogent Communications
CCOI
$486M
| $746K | ﹤0.01% |
11,339
-3,237
| -22% | -$195K |
|
1611
Amphastar Pharmaceuticals
AMPH
$915M
| $744K | ﹤0.01% |
38,568
-1,567
| -4% | -$30.1K |
|
1612
RBC Bearings
RBC
$15.7B
| $742K | ﹤0.01% |
4,687
-1,399
| -23% | -$226K |
|
|
BMTC
1613
DELISTED
Bryn Mawr Bank Corp
BMTC
| $742K | ﹤0.01% |
17,985
+8,694
| +94% | +$335K |
|
1614
Pennant Group
PNTG
$1.36B
| $740K | ﹤0.01% |
+22,363
| New | +$512K |
|
1615
Iridium Communications
IRDM
$5.01B
| $738K | ﹤0.01% |
29,962
-100,952
| -77% | -$2.42M |
|
1616
Highwoods Properties
HIW
$3.5B
| $737K | ﹤0.01% |
15,063
-1,029
| -6% | -$47.6K |
|
1617
Plexus
PLXS
$6.33B
| $736K | ﹤0.01% |
+9,572
| New | +$694K |
|
1618
The Joint Corp
JYNT
$119M
| $732K | ﹤0.01% |
45,346
+17,137
| +61% | +$312K |
|
1619
Pathward Financial
CASH
$1.72B
| $731K | ﹤0.01% |
+20,023
| New | +$681K |
|
|
MANT
1620
DELISTED
Mantech International Corp
MANT
| $730K | ﹤0.01% |
9,134
-39
| -0.4% | -$2.92K |
|
|
MTSC
1621
DELISTED
MTS Systems Corp
MTSC
| $727K | ﹤0.01% |
15,146
+7,156
| +90% | +$380K |
|
1622
Braskem
BAK
$733M
| $726K | ﹤0.01% |
+49,056
| New | +$686K |
|
|
AXON
1623
Axon Enterprise
AXON
$48.5B
| $724K | ﹤0.01% |
9,885
-3,493
| -26% | -$221K |
|
1624
Casella Waste Systems
CWST
$6.03B
| $723K | ﹤0.01% |
15,703
-2,452
| -14% | -$108K |
|
|
SVC
1625
Service Properties Trust
SVC
$1.04B
| $722K | ﹤0.01% |
5,935
+380
| +7% | +$46.3K |
|
Similar funds
Cliff Asness's Q4 2019 Portfolio in Review
As of Q4 2019, Cliff Asness held 2,253 positions worth $88B, up 3.6% from $84.9B the previous quarter. Its ten largest holdings account for 13% of the portfolio.
Cliff Asness withdrew a net $3.28B in Q4 2019, closing 142 positions and reducing 1,092 holdings. Its most notable exit was iShares Russell 3000 ETF, an estimated $198M position sold in full.
By sector, the portfolio is most concentrated in Technology at 20% of assets, up from 20% a quarter earlier, followed by Financials and Healthcare.
Against the trend, Cliff Asness opened a new position in DaVita worth $31.1M.
- Cliff Asness's largest Q4 2019 buy was DaVita: 417,883 shares worth $31.1M.
- Cliff Asness added most to Humana in Q4 2019, an estimated $267M increase.
- Cliff Asness's biggest Q4 2019 reduction was HP, cutting an estimated $287M.
- Cliff Asness fully exited iShares Russell 3000 ETF in Q4 2019, selling an estimated $198M.
- Cliff Asness's ten largest holdings make up 13% of its $88B portfolio in Q4 2019.
- Cliff Asness opened 146 new positions and closed 142 in Q4 2019.
- Cliff Asness's portfolio value rose 3.6% quarter-over-quarter to $88B.
Based on AQR Capital Management's 13F filing for Q4 2019, filed 14 Feb 2020.