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Cliff Asness AQR Capital Management

AUM $287B
1-Year Est. Return 42.33%
 

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.

This Fund
S&P 500
This Quarter Est. Return
+1.59%
1 Year Est. Return
+42.33%
3 Year Est. Return
+119.89%
5 Year Est. Return
+147.33%
10 Year Est. Return
+543.74%
AUM
$36.4B
AUM Growth
-$720M
Cap. Flow
-$2.61B
Cap. Flow %
-7.18%
Top 10 Hldgs %
9.35%
Holding
2,708
New
200
Increased
858
Reduced
1,062
Closed
203

Top Buys

Rank Stock Value
1
SHPG
Shire pic
SHPG
+$147M
2
GILD icon
Gilead Sciences
GILD
+$127M
3
INTC icon
Intel
INTC
+$114M
4
LO
LORILLARD INC COM STK
LO
+$113M
5
TWX
Time Warner Inc
TWX
+$112M

Top Sells

Rank Stock Value
1
FRX
FOREST LABORATORIES INC
FRX
+$243M
2
WNR
Western Refining Inc
WNR
+$148M
3
UNS
UNS ENERGY CORP COM
UNS
+$123M
4
HSH
HILLSHIRE BRANDS CO
HSH
+$118M
5
CELG
Celgene Corp
CELG
+$106M

Sector Composition

Rank Sector Weight
1 Healthcare 14.66%
2 Technology 13.5%
3 Energy 10.11%
4 Financials 9.6%
5 Industrials 9.29%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CNXN icon
2051
PC Connection
CNXN
$1.97B
$312K ﹤0.01%
14,533
+1,300
+10% +$27.9K
HSP
2052
DELISTED
HOSPIRA INC
HSP
$312K ﹤0.01%
+6,000
New +$319K
MMLP icon
2053
Martin Midstream Partners
MMLP
$88.8M
$311K ﹤0.01%
8,334
– –
RH icon
2054
RH
RH
$2.9B
$310K ﹤0.01%
3,900
-21,200
-84% -$1.77M
CRAY
2055
DELISTED
Cray, Inc.
CRAY
$310K ﹤0.01%
11,806
-20,800
-64% -$575K
GM.WS.C
2056
DELISTED
GENERAL MTRS CO WTS EXP 12/31/15 (DE)
GM.WS.C
$310K ﹤0.01%
356,485
– –
EXPR
2057
DELISTED
Express, Inc.
EXPR
$309K ﹤0.01%
990
-3,445
-78% -$1.1M
TLP
2058
DELISTED
Transmontaigne
TLP
$309K ﹤0.01%
7,482
– –
PODD icon
2059
Insulet
PODD
$10.3B
$308K ﹤0.01%
8,348
-39,700
-83% -$1.45M
STRA icon
2060
Strategic Education
STRA
$1.85B
$308K ﹤0.01%
+5,146
New +$290K
TGTX icon
2061
TG Therapeutics
TGTX
$8.31B
$308K ﹤0.01%
28,900
+11,400
+65% +$106K
MDXG icon
2062
MiMedx Group
MDXG
$631M
$307K ﹤0.01%
42,991
-12,300
-22% -$85.7K
RLI icon
2063
RLI Corp
RLI
$6B
$307K ﹤0.01%
14,200
+3,000
+27% +$66.9K
FRC
2064
DELISTED
First Republic Bank
FRC
$306K ﹤0.01%
6,200
-19,700
-76% -$965K
ROIQW
2065
DELISTED
ROI ACQUISITION CORP WT EXP 2/28/2017 (DE)
ROIQW
$305K ﹤0.01%
1,050,000
– –
BCPC
2066
Balchem Corp
BCPC
$5.78B
$304K ﹤0.01%
5,382
– –
DFRG
2067
DELISTED
Del Frisco's Restaurant Group, Inc. Common Stock
DFRG
$304K ﹤0.01%
15,900
-700
-4% -$15.9K
CBK
2068
DELISTED
Christopher & Banks Corporation
CBK
$304K ﹤0.01%
30,707
– –
APU
2069
DELISTED
AmeriGas Partners, L.P.
APU
$303K ﹤0.01%
6,652
– –
CVGW
2070
DELISTED
Calavo Growers
CVGW
$302K ﹤0.01%
+6,700
New +$254K
IPAR icon
2071
Interparfums
IPAR
$3.7B
$302K ﹤0.01%
10,970
-6,000
-35% -$170K
CDE icon
2072
Coeur Mining
CDE
$21.6B
$301K ﹤0.01%
60,593
– –
ENBL
2073
DELISTED
ENABLE MIDSTREAM PARTNERS, LP
ENBL
$301K ﹤0.01%
12,220
– –
ENOC
2074
DELISTED
EnerNOC, Inc.
ENOC
$301K ﹤0.01%
17,738
-45,200
-72% -$845K
TBHC
2075
DELISTED
The Brand House Collective
TBHC
$300K ﹤0.01%
18,627
-34,100
-65% -$619K
81 82
83
84 85

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Cliff Asness's Q3 2014 Portfolio in Review

As of Q3 2014, Cliff Asness held 2,708 positions worth $36.4B, down 1.9% from $37.1B the previous quarter. Its ten largest holdings account for 9.4% of the portfolio.

Cliff Asness withdrew a net $2.61B in Q3 2014, closing 203 positions and reducing 1,062 holdings. Its most notable exit was FOREST LABORATORIES INC, an estimated $243M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 15% of assets, down from 15% a quarter earlier, followed by Technology and Energy.

Against the trend, Cliff Asness opened a new position in BALLY TECHNOLOGIES, INC. worth $80.5M.

  • Cliff Asness's largest Q3 2014 buy was BALLY TECHNOLOGIES, INC.: 997,907 shares worth $80.5M.
  • Cliff Asness added most to Shire pic in Q3 2014, an estimated $147M increase.
  • Cliff Asness's biggest Q3 2014 reduction was Western Refining Inc, cutting an estimated $148M.
  • Cliff Asness fully exited FOREST LABORATORIES INC in Q3 2014, selling an estimated $243M.
  • Cliff Asness's ten largest holdings make up 9.4% of its $36.4B portfolio in Q3 2014.
  • Cliff Asness opened 200 new positions and closed 203 in Q3 2014.
  • Cliff Asness's portfolio value fell 1.9% quarter-over-quarter to $36.4B.

Based on AQR Capital Management's 13F filing for Q3 2014, filed 14 Nov 2014.