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 |
Capital One
COF
|
+$129M |
| 2 |
EOG Resources
EOG
|
+$112M |
| 3 |
Trane Technologies
TT
|
+$81.4M |
| 4 |
Deere & Co
DE
|
+$74.4M |
| 5 |
Automatic Data Processing
ADP
|
+$66.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$763M |
| 2 |
Amazon
AMZN
|
+$183M |
| 3 |
Apple
AAPL
|
+$171M |
| 4 |
Oracle
ORCL
|
+$162M |
| 5 |
Kroger
KR
|
+$156M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 23.33% |
| 2 | Healthcare | 15.26% |
| 3 | Industrials | 12.9% |
| 4 | Financials | 12.31% |
| 5 | Consumer Discretionary | 11.77% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
NVTA
2026
DELISTED
Invitae Corporation
NVTA
| $314K | ﹤0.01% |
11,062
-10,042
| -48% | -$294K |
|
|
ANAT
2027
DELISTED
American National Group, Inc. Common Stock
ANAT
| $314K | ﹤0.01% |
1,662
-12,892
| -89% | -$2.29M |
|
2028
Century Casinos
CNTY
$35.7M
| $310K | ﹤0.01% |
23,007
-5,207
| -18% | -$66.2K |
|
|
TWO
2029
Two Harbors Investment
TWO
$1.27B
| $310K | ﹤0.01% |
12,238
| – | – |
|
2030
Hovnanian Enterprises
HOV
$770M
| $306K | ﹤0.01% |
+3,172
| New | +$317K |
|
2031
Xencor
XNCR
$2.07B
| $304K | ﹤0.01% |
9,322
-268
| -3% | -$8.8K |
|
2032
PAR Technology
PAR
$808M
| $302K | ﹤0.01% |
4,913
| – | – |
|
2033
Rapid7
RPD
$799M
| $302K | ﹤0.01% |
+2,674
| New | +$303K |
|
2034
Fossil Group
FOSL
$332M
| $301K | ﹤0.01% |
25,372
-57,856
| -70% | -$748K |
|
2035
PAVmed
PAVM
$41.4M
| $301K | ﹤0.01% |
78
| – | – |
|
|
BIG
2036
DELISTED
Big Lots, Inc.
BIG
| $301K | ﹤0.01% |
6,953
-31,203
| -82% | -$1.7M |
|
2037
Forward Air
FWRD
$612M
| $300K | ﹤0.01% |
3,614
| – | – |
|
2038
Leggett & Platt
LEG
$1.29B
| $299K | ﹤0.01% |
6,664
| – | – |
|
|
FPI
2039
Farmland Partners
FPI
$443M
| $298K | ﹤0.01% |
24,892
+10,375
| +71% | +$128K |
|
2040
Peoples Bancorp
PEBO
$1.44B
| $297K | ﹤0.01% |
9,402
+2,328
| +33% | +$70.4K |
|
2041
Tootsie Roll Industries
TR
$3.08B
| $297K | ﹤0.01% |
+11,318
| New | +$319K |
|
|
YELL
2042
DELISTED
Yellow Corporation Common Stock
YELL
| $296K | ﹤0.01% |
52,352
+39,720
| +314% | +$231K |
|
2043
Interface
TILE
$2.25B
| $295K | ﹤0.01% |
19,464
-10,387
| -35% | -$149K |
|
2044
Array Technologies
ARRY
$722M
| $290K | ﹤0.01% |
+15,634
| New | +$259K |
|
2045
American Well
AMWL
$202M
| $289K | ﹤0.01% |
+1,584
| New | +$344K |
|
|
ADAM
2046
Adamas Trust
ADAM
$893M
| $288K | ﹤0.01% |
16,884
| – | – |
|
2047
Solid Biosciences
SLDB
$997M
| $285K | ﹤0.01% |
7,940
-6,768
| -46% | -$287K |
|
2048
Helmerich & Payne
HP
$4.35B
| $284K | ﹤0.01% |
10,357
-10,772
| -51% | -$301K |
|
|
LDL
2049
DELISTED
Lydall, Inc.
LDL
| $284K | ﹤0.01% |
4,577
-13,262
| -74% | -$816K |
|
|
EBIX
2050
DELISTED
Ebix Inc
EBIX
| $283K | ﹤0.01% |
10,514
+2,143
| +26% | +$62.8K |
|
Similar funds
Cliff Asness's Q3 2021 Portfolio in Review
As of Q3 2021, Cliff Asness held 2,400 positions worth $53.9B, down 6.7% from $57.8B the previous quarter. Its ten largest holdings account for 17% of the portfolio.
Cliff Asness withdrew a net $3.34B in Q3 2021, closing 165 positions and reducing 1,029 holdings. Its most notable exit was Alibaba, an estimated $763M position sold in full.
By sector, the portfolio is most concentrated in Technology at 23% of assets, up from 23% a quarter earlier, followed by Healthcare and Industrials.
Against the trend, Cliff Asness opened a new position in Albertsons Companies worth $15M.
- Cliff Asness's largest Q3 2021 buy was Albertsons Companies: 481,384 shares worth $15M.
- Cliff Asness added most to Capital One in Q3 2021, an estimated $129M increase.
- Cliff Asness's biggest Q3 2021 reduction was Amazon, cutting an estimated $183M.
- Cliff Asness fully exited Alibaba in Q3 2021, selling an estimated $763M.
- Cliff Asness's ten largest holdings make up 17% of its $53.9B portfolio in Q3 2021.
- Cliff Asness opened 176 new positions and closed 165 in Q3 2021.
- Cliff Asness's portfolio value fell 6.7% quarter-over-quarter to $53.9B.
Based on AQR Capital Management's 13F filing for Q3 2021, filed 15 Nov 2021.