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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
+23.28%
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
$61.8B
AUM Growth
+$2.37B
Cap. Flow
-$8.64B
Cap. Flow %
-13.98%
Top 10 Hldgs %
18.88%
Holding
2,214
New
182
Increased
713
Reduced
1,166
Closed
116

Top Buys

Rank Stock Value
1
AMZN icon
Amazon
AMZN
+$324M
2
HPQ icon
HP
HPQ
+$217M
3
ABBV icon
AbbVie
ABBV
+$202M
4
LOW icon
Lowe's Companies
LOW
+$163M
5
CVS icon
CVS Health
CVS
+$161M

Top Sells

Rank Stock Value
1
SBUX icon
Starbucks
SBUX
+$205M
2
PEP icon
PepsiCo
PEP
+$202M
3
TSN icon
Tyson Foods
TSN
+$194M
4
EG icon
Everest Group
EG
+$186M
5
SYF icon
Synchrony
SYF
+$185M

Sector Composition

Rank Sector Weight
1 Technology 24.04%
2 Healthcare 16.91%
3 Consumer Discretionary 13.45%
4 Financials 10.25%
5 Consumer Staples 10.22%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PTN
2151
Palatin Technologies
PTN
$17.2M
– –
-165
Closed -$87K
QQQ icon
2152
Invesco QQQ Trust
QQQ
$486B
– –
-39,947
Closed -$8.95M
RLGT icon
2153
Radiant Logistics
RLGT
$395M
– –
-29,160
Closed -$113K
RLJ icon
2154
RLJ Lodging Trust
RLJ
$1.75B
– –
-56,332
Closed -$435K
RPD icon
2155
Rapid7
RPD
$799M
– –
-13,294
Closed -$576K
RWT
2156
Redwood Trust
RWT
$603M
– –
-75,879
Closed -$384K
SKYW icon
2157
Skywest
SKYW
$3.93B
– –
-8,468
Closed -$222K
SMPL icon
2158
Simply Good Foods
SMPL
$962M
– –
-30,467
Closed -$587K
SRI icon
2159
Stoneridge
SRI
$205M
– –
-65,231
Closed -$1.09M
TCRT icon
2160
Alaunos Therapeutics
TCRT
$4.47M
– –
-419
Closed -$154K
TITN icon
2161
Titan Machinery
TITN
$470M
– –
-18,711
Closed -$163K
TNET icon
2162
TriNet
TNET
$3.24B
– –
-12,159
Closed -$458K
TSE
2163
DELISTED
Trinseo
TSE
– –
-34,345
Closed -$622K
UAL icon
2164
United Airlines
UAL
$36.7B
– –
-3,744,093
Closed -$116M
UFCS icon
2165
United Fire Group
UFCS
$1.36B
– –
-8,329
Closed -$272K
UPLD icon
2166
Upland Software
UPLD
$14.4M
– –
-984
Closed -$264K
UUUU icon
2167
Energy Fuels
UUUU
$3.78B
– –
-13,254
Closed -$16K
VLRS
2168
Controladora Vuela Compania de Aviacion
VLRS
$794M
– –
-222,134
Closed -$762K
PRKS icon
2169
United Parks & Resorts
PRKS
$2.06B
– –
-12,076
Closed -$133K
JBTM
2170
JBT Marel
JBTM
$6.06B
– –
-6,127
Closed -$455K
CMRX
2171
DELISTED
Chimerix, Inc.
CMRX
– –
-626,676
Closed -$902K
PFC
2172
DELISTED
Premier Financial Corp. Common Stock
PFC
– –
-39,862
Closed -$588K
BCOV
2173
DELISTED
Brightcove, Inc.
BCOV
– –
-14,222
Closed -$99K
HA
2174
DELISTED
Hawaiian Holdings, Inc.
HA
– –
-18,508
Closed -$193K
TUP
2175
DELISTED
Tupperware Brands Corporation
TUP
– –
-1,418,445
Closed -$2.3M
85 86
87
88 89

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Cliff Asness's Q2 2020 Portfolio in Review

As of Q2 2020, Cliff Asness held 2,214 positions worth $61.8B, up 4% from $59.5B the previous quarter. Its ten largest holdings account for 19% of the portfolio.

Cliff Asness withdrew a net $8.64B in Q2 2020, closing 116 positions and reducing 1,166 holdings. Its most notable exit was United Airlines, an estimated $116M position sold in full.

By sector, the portfolio is most concentrated in Technology at 24% of assets, up from 22% a quarter earlier, followed by Healthcare and Consumer Discretionary.

Against the trend, Cliff Asness opened a new position in Hexcel worth $31.6M.

  • Cliff Asness's largest Q2 2020 buy was Hexcel: 698,621 shares worth $31.6M.
  • Cliff Asness added most to Amazon in Q2 2020, an estimated $324M increase.
  • Cliff Asness's biggest Q2 2020 reduction was Starbucks, cutting an estimated $205M.
  • Cliff Asness fully exited United Airlines in Q2 2020, selling an estimated $116M.
  • Cliff Asness's ten largest holdings make up 19% of its $61.8B portfolio in Q2 2020.
  • Cliff Asness opened 182 new positions and closed 116 in Q2 2020.
  • Cliff Asness's portfolio value rose 4% quarter-over-quarter to $61.8B.

Based on AQR Capital Management's 13F filing for Q2 2020, filed 17 Aug 2020.