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 |
Alphabet (Google) Class A
GOOGL
|
+$403M |
| 2 |
Citizens Financial Group
CFG
|
+$190M |
| 3 |
Yum! Brands
YUM
|
+$157M |
| 4 |
LyondellBasell Industries
LYB
|
+$129M |
| 5 |
General Motors
GM
|
+$120M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$233M |
| 2 |
CVS Health
CVS
|
+$139M |
| 3 |
Southwest Airlines
LUV
|
+$131M |
| 4 |
Archer Daniels Midland
ADM
|
+$125M |
| 5 |
Merck
MRK
|
+$122M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 15.4% |
| 2 | Technology | 15.1% |
| 3 | Healthcare | 14.95% |
| 4 | Consumer Discretionary | 13.97% |
| 5 | Industrials | 12.19% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1976
Mesa Laboratories
MLAB
$698M
| $373K | ﹤0.01% |
+3,751
| New | +$401K |
|
1977
American Public Education
APEI
$835M
| $372K | ﹤0.01% |
19,974
+7,425
| +59% | +$163K |
|
|
SPPI
1978
DELISTED
Spectrum Pharmaceuticals Inc
SPPI
| $372K | ﹤0.01% |
61,585
+39,194
| +175% | +$224K |
|
|
DBD
1979
DELISTED
Diebold Nixdorf Incorporated
DBD
| $369K | ﹤0.01% |
+12,248
| New | +$416K |
|
|
PFSW
1980
DELISTED
PFSweb, Inc.
PFSW
| $367K | ﹤0.01% |
28,500
+9,684
| +51% | +$134K |
|
|
ARR
1981
Armour Residential REIT
ARR
$2.31B
| $366K | ﹤0.01% |
3,366
-16
| -0.5% | -$1.68K |
|
|
EXAR
1982
DELISTED
Exar Corporation
EXAR
| $366K | ﹤0.01% |
+59,813
| New | +$366K |
|
1983
National Bank Holdings
NBHC
$1.86B
| $364K | ﹤0.01% |
17,020
+5,008
| +42% | +$108K |
|
|
PETX
1984
DELISTED
Aratana Therapeutics, Inc.
PETX
| $364K | ﹤0.01% |
65,277
+28,723
| +79% | +$190K |
|
1985
Simmons First National
SFNC
$3.33B
| $360K | ﹤0.01% |
+14,008
| New | +$369K |
|
1986
CTS Corp
CTS
$1.65B
| $359K | ﹤0.01% |
20,333
+7,411
| +57% | +$138K |
|
1987
V2X
VVX
$2.46B
| $359K | ﹤0.01% |
+17,172
| New | +$400K |
|
|
AC
1988
DELISTED
Associated Capital Group
AC
| $358K | ﹤0.01% |
+11,798
| New | +$369K |
|
1989
The Bancorp
TBBK
$2.74B
| $355K | ﹤0.01% |
55,689
+4,894
| +10% | +$35.6K |
|
1990
Tenaris
TS
$26.6B
| $355K | ﹤0.01% |
14,906
+876
| +6% | +$22.2K |
|
|
LTRPA
1991
DELISTED
Liberty TripAdvisor Holdings, Inc. Series A
LTRPA
| $354K | ﹤0.01% |
+11,651
| New | +$343K |
|
|
BNFT
1992
DELISTED
Benefitfocus, Inc.
BNFT
| $353K | ﹤0.01% |
+9,724
| New | +$345K |
|
1993
Azenta
AZTA
$1.64B
| $351K | ﹤0.01% |
32,880
-27,194
| -45% | -$308K |
|
1994
Motorcar Parts of America
MPAA
$226M
| $351K | ﹤0.01% |
10,388
-4,482
| -30% | -$160K |
|
1995
Monarch Casino & Resort
MCRI
$2.26B
| $349K | ﹤0.01% |
+15,361
| New | +$326K |
|
|
HOUS
1996
DELISTED
Anywhere Real Estate
HOUS
| $348K | ﹤0.01% |
9,499
-16,946
| -64% | -$669K |
|
1997
Tenet Healthcare
THC
$22.6B
| $347K | ﹤0.01% |
11,457
+1,752
| +18% | +$57.5K |
|
|
VNET
1998
VNET Group
VNET
$1.91B
| $347K | ﹤0.01% |
+16,414
| New | +$329K |
|
1999
Ethan Allen Interiors
ETD
$595M
| $346K | ﹤0.01% |
+12,424
| New | +$347K |
|
2000
PC Connection
CNXN
$1.97B
| $345K | ﹤0.01% |
15,250
+779
| +5% | +$17K |
|
Similar funds
Cliff Asness's Q4 2015 Portfolio in Review
As of Q4 2015, Cliff Asness held 2,416 positions worth $57.1B, up 14% from $50B the previous quarter. Its ten largest holdings account for 8.8% of the portfolio.
Cliff Asness deployed $5.14B of net new capital in Q4 2015, opening 255 new positions and adding to 1,207 existing holdings. Its largest new stake was Alphabet (Google) Class A: 10,884,520 shares worth $423M.
By sector, the portfolio is most concentrated in Financials at 15% of assets, down from 15% a quarter earlier, followed by Technology and Healthcare.
On the sell side, the largest reduction was Alphabet (Google) Class C, an estimated $233M trimmed.
- Cliff Asness's largest Q4 2015 buy was Alphabet (Google) Class A: 10,884,520 shares worth $423M.
- Cliff Asness added most to Citizens Financial Group in Q4 2015, an estimated $190M increase.
- Cliff Asness's biggest Q4 2015 reduction was Alphabet (Google) Class C, cutting an estimated $233M.
- Cliff Asness fully exited HUBBELL INC CL-B in Q4 2015, selling an estimated $11.5M.
- Cliff Asness's ten largest holdings make up 8.8% of its $57.1B portfolio in Q4 2015.
- Cliff Asness opened 255 new positions and closed 179 in Q4 2015.
- Cliff Asness's portfolio value rose 14% quarter-over-quarter to $57.1B.
Based on AQR Capital Management's 13F filing for Q4 2015, filed 16 Feb 2016.