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 |
Amazon
AMZN
|
+$324M |
| 2 |
HP
HPQ
|
+$217M |
| 3 |
AbbVie
ABBV
|
+$202M |
| 4 |
Lowe's Companies
LOW
|
+$163M |
| 5 |
CVS Health
CVS
|
+$161M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Starbucks
SBUX
|
+$205M |
| 2 |
PepsiCo
PEP
|
+$202M |
| 3 |
Tyson Foods
TSN
|
+$194M |
| 4 |
Everest Group
EG
|
+$186M |
| 5 |
Synchrony
SYF
|
+$185M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 24.04% |
| 2 | Healthcare | 16.91% |
| 3 | Consumer Discretionary | 13.45% |
| 4 | Financials | 10.25% |
| 5 | Consumer Staples | 10.22% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
151
JD.com
JD
$39.7B
| $92M | 0.15% |
1,527,935
-24,794
| -2% | -$1.26M |
|
152
Intercontinental Exchange
ICE
$90.5B
| $91.7M | 0.15% |
1,012,986
-230,310
| -19% | -$21.1M |
|
153
Abbott
ABT
$202B
| $91.2M | 0.15% |
1,027,151
+430,235
| +72% | +$38.9M |
|
154
Cintas
CTAS
$81.6B
| $91M | 0.15% |
1,381,052
+25,200
| +2% | +$1.46M |
|
155
TE Connectivity
TEL
$58.9B
| $90.9M | 0.15% |
1,130,683
-842,133
| -43% | -$63.4M |
|
156
Howmet Aerospace
HWM
$108B
| $89.7M | 0.15% |
5,659,246
+3,797,111
| +204% | +$49.9M |
|
157
CDW
CDW
$17.2B
| $88.9M | 0.14% |
782,022
-403,695
| -34% | -$43.7M |
|
158
HF Sinclair
DINO
$17.3B
| $88.6M | 0.14% |
3,255,963
+625,566
| +24% | +$18.6M |
|
159
Henry Schein
HSIC
$9.86B
| $88M | 0.14% |
1,522,588
-137,131
| -8% | -$7.66M |
|
160
PayPal
PYPL
$52.7B
| $87.8M | 0.14% |
510,930
+33,935
| +7% | +$4.69M |
|
161
Steel Dynamics
STLD
$32.8B
| $86.9M | 0.14% |
3,396,406
-645,184
| -16% | -$16.1M |
|
162
Masco
MAS
$14.5B
| $86.4M | 0.14% |
1,757,270
-428,540
| -20% | -$18.6M |
|
163
Carnival Corporation Ltd
CCL
$35.2B
| $85.9M | 0.14% |
5,321,335
+3,887,555
| +271% | +$58.2M |
|
164
Old Dominion Freight Line
ODFL
$42.8B
| $85.1M | 0.14% |
1,026,732
+594,724
| +138% | +$45.1M |
|
|
HOLX
165
DELISTED
Hologic
HOLX
| $85M | 0.14% |
1,538,849
-150,191
| -9% | -$7.37M |
|
|
GRMN
166
Garmin
GRMN
$56.9B
| $84.9M | 0.14% |
881,290
-81,400
| -8% | -$6.96M |
|
167
Popular Inc
BPOP
$10.8B
| $84.6M | 0.14% |
2,298,478
-924,325
| -29% | -$34.4M |
|
168
Assurant
AIZ
$14B
| $83.9M | 0.14% |
830,966
-33,580
| -4% | -$3.48M |
|
169
Prologis
PLD
$135B
| $83.5M | 0.14% |
906,923
+59,727
| +7% | +$5.33M |
|
170
Exelixis
EXEL
$13.4B
| $82.7M | 0.13% |
3,582,299
-1,975,705
| -36% | -$45.8M |
|
171
US Bancorp
USB
$96.7B
| $82.2M | 0.13% |
2,262,390
+373,701
| +20% | +$13.3M |
|
172
Ameren
AEE
$29.4B
| $81.2M | 0.13% |
1,164,900
-374,597
| -24% | -$27.2M |
|
173
Dominion Energy
D
$58.6B
| $80.6M | 0.13% |
1,000,072
-91,364
| -8% | -$7.33M |
|
174
Crown Castle
CCI
$32.1B
| $80.3M | 0.13% |
489,742
-56,175
| -10% | -$9.05M |
|
175
Expeditors International
EXPD
$24.4B
| $79.8M | 0.13% |
1,065,246
+465,043
| +77% | +$34M |
|
Similar funds
Cliff Asness's Q2 2020 Portfolio in Review
As of Q2 2020, Cliff Asness held 2,214 positions worth $61.8B, up 4% from $59.5B the previous quarter. Its ten largest holdings account for 19% of the portfolio.
Cliff Asness withdrew a net $8.64B in Q2 2020, closing 116 positions and reducing 1,166 holdings. Its most notable exit was United Airlines, an estimated $116M position sold in full.
By sector, the portfolio is most concentrated in Technology at 24% of assets, up from 22% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Cliff Asness opened a new position in Hexcel worth $31.6M.
- Cliff Asness's largest Q2 2020 buy was Hexcel: 698,621 shares worth $31.6M.
- Cliff Asness added most to Amazon in Q2 2020, an estimated $324M increase.
- Cliff Asness's biggest Q2 2020 reduction was Starbucks, cutting an estimated $205M.
- Cliff Asness fully exited United Airlines in Q2 2020, selling an estimated $116M.
- Cliff Asness's ten largest holdings make up 19% of its $61.8B portfolio in Q2 2020.
- Cliff Asness opened 182 new positions and closed 116 in Q2 2020.
- Cliff Asness's portfolio value rose 4% quarter-over-quarter to $61.8B.
Based on AQR Capital Management's 13F filing for Q2 2020, filed 17 Aug 2020.