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
|
+$111M |
| 2 |
Verizon
VZ
|
+$103M |
| 3 |
AT&T
T
|
+$103M |
| 4 |
Kroger
KR
|
+$97.1M |
| 5 |
3M
MMM
|
+$92.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Gilead Sciences
GILD
|
+$138M |
| 2 |
Tesla
TSLA
|
+$110M |
| 3 |
JPMorgan Chase
JPM
|
+$103M |
| 4 |
Regeneron Pharmaceuticals
REGN
|
+$89.4M |
| 5 |
Apple
AAPL
|
+$85.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 19.58% |
| 2 | Healthcare | 16.26% |
| 3 | Financials | 11.97% |
| 4 | Industrials | 11.47% |
| 5 | Consumer Discretionary | 10.43% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
X
151
DELISTED
US Steel
X
| $72.6M | 0.17% |
2,896,658
+539,880
| +23% | +$12.4M |
|
152
DXC Technology
DXC
$1.73B
| $71.3M | 0.16% |
2,690,928
+600,507
| +29% | +$16.7M |
|
153
United Therapeutics
UTHR
$22B
| $71.3M | 0.16% |
260,009
-34,079
| -12% | -$8.6M |
|
154
Schneider National
SNDR
$6.28B
| $70.4M | 0.16% |
3,008,023
+227,164
| +8% | +$5.31M |
|
155
Monster Beverage
MNST
$93.6B
| $70.3M | 0.16% |
2,774,264
-508,984
| -16% | -$12.3M |
|
156
C.H. Robinson
CHRW
$16.5B
| $70.1M | 0.16% |
766,926
+93,878
| +14% | +$8.94M |
|
157
Hasbro
HAS
$13.2B
| $70.1M | 0.16% |
1,149,040
-120,868
| -10% | -$7.55M |
|
158
Microchip Technology
MCHP
$41.3B
| $69.4M | 0.16% |
1,000,404
+358,862
| +56% | +$24.7M |
|
159
Republic Services
RSG
$67.6B
| $69.4M | 0.16% |
537,888
-149,989
| -22% | -$20M |
|
160
Duke Energy
DUK
$93.4B
| $68.8M | 0.16% |
667,776
-88,146
| -12% | -$8.46M |
|
161
O'Reilly Automotive
ORLY
$72.1B
| $68.6M | 0.16% |
1,223,610
-794,370
| -39% | -$42.7M |
|
162
Popular Inc
BPOP
$10.8B
| $68.3M | 0.16% |
1,046,174
+220,980
| +27% | +$15.4M |
|
163
Jabil
JBL
$32.8B
| $67.5M | 0.15% |
998,213
-155,367
| -13% | -$10.3M |
|
164
Applied Materials
AMAT
$391B
| $67.3M | 0.15% |
701,847
-253,404
| -27% | -$24.3M |
|
165
Reliance Steel & Aluminium
RS
$19.8B
| $67.2M | 0.15% |
333,014
+35,980
| +12% | +$7.16M |
|
166
Hartford Financial Services
HIG
$36.9B
| $66.9M | 0.15% |
881,934
-102,099
| -10% | -$7.35M |
|
167
UGI
UGI
$8.06B
| $66.3M | 0.15% |
1,787,174
-132,710
| -7% | -$4.8M |
|
168
Caterpillar
CAT
$381B
| $66.1M | 0.15% |
276,813
+20,662
| +8% | +$4.5M |
|
169
Nucor
NUE
$55.3B
| $66M | 0.15% |
500,906
+72,976
| +17% | +$9.92M |
|
170
NXP Semiconductors
NXPI
$56.9B
| $65.6M | 0.15% |
422,364
+52,423
| +14% | +$8.31M |
|
171
J.M. Smucker
SJM
$13.3B
| $65.5M | 0.15% |
413,440
+104,990
| +34% | +$15.6M |
|
172
Henry Schein
HSIC
$9.86B
| $64M | 0.15% |
801,724
+81,063
| +11% | +$6.14M |
|
173
Emcor
EME
$34.3B
| $63.4M | 0.14% |
428,286
-61,845
| -13% | -$8.78M |
|
174
Teradata
TDC
$2.58B
| $63.3M | 0.14% |
1,893,337
+488,522
| +35% | +$15.7M |
|
|
TMHC
175
DELISTED
Taylor Morrison
TMHC
| $62.7M | 0.14% |
2,067,080
+9,392
| +0.5% | +$262K |
|
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Cliff Asness's Q4 2022 Portfolio in Review
As of Q4 2022, Cliff Asness held 2,343 positions worth $43.9B, up 7% from $41B the previous quarter. Its ten largest holdings account for 13% of the portfolio.
Cliff Asness's Q4 2022 filing shows 170 new, 997 increased, 1,015 reduced and 150 closed positions. Its largest new stake was Generac Holdings: 310,080 shares worth $30.5M. The largest sale was Gilead Sciences, an estimated $138M.
By sector, the portfolio is most concentrated in Technology at 20% of assets, down from 20% a quarter earlier, followed by Healthcare and Financials.
- Cliff Asness's largest Q4 2022 buy was Generac Holdings: 310,080 shares worth $30.5M.
- Cliff Asness added most to Humana in Q4 2022, an estimated $111M increase.
- Cliff Asness's biggest Q4 2022 reduction was Gilead Sciences, cutting an estimated $138M.
- Cliff Asness fully exited Abiomed Inc in Q4 2022, selling an estimated $22.4M.
- Cliff Asness's ten largest holdings make up 13% of its $43.9B portfolio in Q4 2022.
- Cliff Asness opened 170 new positions and closed 150 in Q4 2022.
- Cliff Asness's portfolio value rose 7% quarter-over-quarter to $43.9B.
Based on AQR Capital Management's 13F filing for Q4 2022, filed 14 Feb 2023.