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 |
LyondellBasell Industries
LYB
|
+$320M |
| 2 |
Gilead Sciences
GILD
|
+$266M |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$213M |
| 4 |
TE Connectivity
TEL
|
+$179M |
| 5 |
Merck
MRK
|
+$179M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SHPG
Shire pic
SHPG
|
+$211M |
| 2 |
CNVR
CONVERSANT INC COM STK (DE)
CNVR
|
+$117M |
| 3 |
EOG Resources
EOG
|
+$106M |
| 4 |
CNQR
CONCUR TECHNOLOGIES INC
CNQR
|
+$102M |
| 5 |
CPWR
COMPUWARE CORP
CPWR
|
+$99.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 15.47% |
| 2 | Technology | 14.75% |
| 3 | Financials | 11.98% |
| 4 | Industrials | 9.42% |
| 5 | Consumer Discretionary | 7.87% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
176
Vertex Pharmaceuticals
VRTX
$139B
| $74.5M | 0.16% |
627,402
-42,374
| -6% | -$4.77M |
|
|
DCUA
177
DELISTED
DOMINION RESOURCES INC. CORP UNIT 2013 SER A (VA)
DCUA
| $74M | 0.15% |
1,227,325
| – | – |
|
178
Colgate-Palmolive
CL
$72.6B
| $72M | 0.15% |
1,040,325
+330,851
| +47% | +$22.3M |
|
179
Danaher
DHR
$154B
| $71.7M | 0.15% |
1,244,531
+545,531
| +78% | +$29.6M |
|
|
XEC
180
DELISTED
CIMAREX ENERGY CO
XEC
| $71.6M | 0.15% |
675,239
-177,031
| -21% | -$19.6M |
|
|
PETM
181
DELISTED
PETSMART INC
PETM
| $71.5M | 0.15% |
879,640
+608,766
| +225% | +$45.1M |
|
182
Royal Caribbean
RCL
$78.1B
| $71.3M | 0.15% |
+864,800
| New | +$60.7M |
|
183
Dr. Reddy's Laboratories
RDY
$10.1B
| $70.8M | 0.15% |
7,018,400
+3,970,175
| +130% | +$41.8M |
|
184
Lear
LEA
$8.56B
| $70.6M | 0.15% |
720,005
+151,351
| +27% | +$13.9M |
|
185
Abbott
ABT
$202B
| $70.6M | 0.15% |
1,567,369
-126,057
| -7% | -$5.49M |
|
|
GAP
186
The Gap Inc
GAP
$7.13B
| $69.9M | 0.15% |
1,659,489
-708,791
| -30% | -$27.8M |
|
187
Zimmer Biomet
ZBH
$19.3B
| $69.3M | 0.15% |
629,647
-99,979
| -14% | -$10.5M |
|
|
ENIA
188
DELISTED
Enel Amricas S.A. American Depositary Shares (Each representing 50 shares of Common Stock)
ENIA
| $69.2M | 0.14% |
8,004,743
+2,539,739
| +46% | +$21.8M |
|
189
Dollar Tree
DLTR
$25.3B
| $69.1M | 0.14% |
982,271
+114,577
| +13% | +$7.22M |
|
190
Cummins
CMI
$80.9B
| $68.5M | 0.14% |
475,295
+73,741
| +18% | +$10.4M |
|
191
KeyCorp
KEY
$23.3B
| $68.5M | 0.14% |
4,929,450
-2,772,051
| -36% | -$36.9M |
|
|
RAD
192
DELISTED
Rite Aid Corporation
RAD
| $67.2M | 0.14% |
446,625
+123,461
| +38% | +$13.7M |
|
193
Pilgrim's Pride
PPC
$7.68B
| $67M | 0.14% |
2,042,439
+1,067,722
| +110% | +$33.8M |
|
194
RTX Corp
RTX
$283B
| $66.9M | 0.14% |
924,285
+215,683
| +30% | +$14.7M |
|
|
APOL
195
DELISTED
Apollo Education Group Inc Class A
APOL
| $66.9M | 0.14% |
1,960,528
+266,765
| +16% | +$7.86M |
|
196
Norfolk Southern
NSC
$78.8B
| $66.7M | 0.14% |
608,694
+193,571
| +47% | +$21.2M |
|
|
AVNR
197
DELISTED
AVANIR PHARMACEUTICALS, INC CL A
AVNR
| $66.1M | 0.14% |
3,898,656
+3,820,856
| +4,911% | +$53.8M |
|
|
FISV
198
Fiserv Inc
FISV
$28B
| $64.8M | 0.14% |
1,826,132
+521,036
| +40% | +$17.8M |
|
199
Avery Dennison
AVY
$13.9B
| $64.5M | 0.14% |
1,243,229
-260,293
| -17% | -$12.4M |
|
|
CNL
200
DELISTED
CLECO CRP (HOLDING CO)
CNL
| $63.6M | 0.13% |
1,166,069
+978,459
| +522% | +$51.7M |
|
Similar funds
Cliff Asness's Q4 2014 Portfolio in Review
As of Q4 2014, Cliff Asness held 2,816 positions worth $47.8B, up 31% from $36.4B the previous quarter. Its ten largest holdings account for 9.3% of the portfolio.
Cliff Asness deployed $7.61B of net new capital in Q4 2014, opening 319 new positions and adding to 937 existing holdings. Its largest new stake was LyondellBasell Industries: 3,695,296 shares worth $293M.
By sector, the portfolio is most concentrated in Healthcare at 15% of assets, up from 15% a quarter earlier, followed by Technology and Financials.
On the sell side, the largest reduction was EOG Resources, an estimated $106M trimmed.
- Cliff Asness's largest Q4 2014 buy was LyondellBasell Industries: 3,695,296 shares worth $293M.
- Cliff Asness added most to Gilead Sciences in Q4 2014, an estimated $266M increase.
- Cliff Asness's biggest Q4 2014 reduction was EOG Resources, cutting an estimated $106M.
- Cliff Asness fully exited Shire pic in Q4 2014, selling an estimated $211M.
- Cliff Asness's ten largest holdings make up 9.3% of its $47.8B portfolio in Q4 2014.
- Cliff Asness opened 319 new positions and closed 310 in Q4 2014.
- Cliff Asness's portfolio value rose 31% quarter-over-quarter to $47.8B.
Based on AQR Capital Management's 13F filing for Q4 2014, filed 17 Feb 2015.