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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
+3.38%
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
$43.8B
AUM Growth
-$4B
Cap. Flow
-$2.6B
Cap. Flow %
-5.95%
Top 10 Hldgs %
10.61%
Holding
2,617
New
198
Increased
927
Reduced
931
Closed
480

Top Buys

Rank Stock Value
1
MSFT icon
Microsoft
MSFT
+$168M
2
ABBV icon
AbbVie
ABBV
+$164M
3
TSM icon
TSMC
TSM
+$147M
4
AMGN icon
Amgen
AMGN
+$139M
5
WMT icon
Walmart Inc
WMT
+$121M

Top Sells

Rank Stock Value
1
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
+$186M
2
AGN
Allergan Inc
AGN
+$175M
3
COV
COVIDIEN PLC COM SHS NEW (IRELAND)
COV
+$175M
4
HCBK
HUDSON CITY BANCORP INC
HCBK
+$172M
5
TQNT
TRIQUINT SEMICONDUCTOR INC
TQNT
+$164M

Sector Composition

Rank Sector Weight
1 Healthcare 17.2%
2 Technology 17.16%
3 Financials 12.6%
4 Consumer Discretionary 10.65%
5 Industrials 10.5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AWP
2151
abrdn Global Premier Properties Fund
AWP
$361M
– –
-93,742
Closed -$2.03M
BBN icon
2152
BlackRock Taxable Municipal Bond Trust
BBN
$973M
– –
-16,017
Closed -$355K
BBSI icon
2153
Barrett Business Services
BBSI
$810M
– –
-73,200
Closed -$501K
BCX icon
2154
BlackRock Resources & Commodities Strategy Trust
BCX
$1B
– –
-685,094
Closed -$6.65M
BDJ icon
2155
BlackRock Enhanced Equity Dividend Trust
BDJ
$1.72B
– –
-170,285
Closed -$1.38M
BGB
2156
Blackstone Strategic Credit 2027 Term Fund
BGB
$500M
– –
-197,666
Closed -$3.26M
BGT icon
2157
BlackRock Floating Rate Income Trust
BGT
$323M
– –
-15,317
Closed -$197K
BGX
2158
Blackstone Long-Short Credit Income Fund
BGX
$136M
– –
-54,352
Closed -$844K
BHK icon
2159
BlackRock Core Bond Trust
BHK
$647M
– –
-443,191
Closed -$5.85M
BIDU icon
2160
Baidu
BIDU
$31.3B
– –
-1,300
Closed -$296K
BKU icon
2161
Bankunited
BKU
$3.3B
– –
-27,493
Closed -$796K
BLBD icon
2162
Blue Bird Corp
BLBD
$1.87B
– –
-900,000
Closed -$8.87M
BLDP
2163
Ballard Power Systems
BLDP
$690M
– –
-24,400
Closed -$50K
BLW icon
2164
BlackRock Limited Duration Income Trust
BLW
$497M
– –
-77,554
Closed -$1.22M
BOE icon
2165
BlackRock Enhanced Global Dividend Trust
BOE
$690M
– –
-165,445
Closed -$2.17M
BRKR icon
2166
Bruker
BRKR
$8.68B
– –
-77,300
Closed -$1.52M
BTA
2167
DELISTED
BlackRock Long-Term Municipal Advantage Trust
BTA
– –
-17,384
Closed -$196K
BTE icon
2168
Baytex Energy
BTE
$3.3B
– –
-37,000
Closed -$617K
BTT icon
2169
BlackRock Municipal 2030 Target Term Trust
BTT
$1.43B
– –
-232,930
Closed -$4.68M
BTZ icon
2170
BlackRock Credit Allocation Income Trust
BTZ
$942M
– –
-629,143
Closed -$8.13M
BYM
2171
DELISTED
BlackRock Municipal Income Quality Trust
BYM
– –
-44,080
Closed -$634K
CBU icon
2172
Community Bank
CBU
$3.32B
– –
-13,282
Closed -$506K
CET
2173
Central Securities Corp
CET
$1.62B
– –
-88,480
Closed -$1.94M
CGNX icon
2174
Cognex
CGNX
$9.85B
– –
-15,836
Closed -$327K
CIVI
2175
DELISTED
Civitas Resources
CIVI
– –
-230
Closed -$617K
85 86
87
88 89

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Cliff Asness's Q1 2015 Portfolio in Review

As of Q1 2015, Cliff Asness held 2,617 positions worth $43.8B, down 8.4% from $47.8B the previous quarter. Its ten largest holdings account for 11% of the portfolio.

Cliff Asness withdrew a net $2.6B in Q1 2015, closing 480 positions and reducing 931 holdings. Its most notable exit was Allergan Inc, an estimated $175M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 17% of assets, up from 15% a quarter earlier, followed by Technology and Financials.

Against the trend, Cliff Asness opened a new position in Qorvo worth $68.6M.

  • Cliff Asness's largest Q1 2015 buy was Qorvo: 860,877 shares worth $68.6M.
  • Cliff Asness added most to Microsoft in Q1 2015, an estimated $168M increase.
  • Cliff Asness's biggest Q1 2015 reduction was TIME WARNER CABLE INC NEW COM STK, cutting an estimated $186M.
  • Cliff Asness fully exited Allergan Inc in Q1 2015, selling an estimated $175M.
  • Cliff Asness's ten largest holdings make up 11% of its $43.8B portfolio in Q1 2015.
  • Cliff Asness opened 198 new positions and closed 480 in Q1 2015.
  • Cliff Asness's portfolio value fell 8.4% quarter-over-quarter to $43.8B.

Based on AQR Capital Management's 13F filing for Q1 2015, filed 15 May 2015.