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 |
Verizon
VZ
|
+$145M |
| 2 |
American Electric Power
AEP
|
+$145M |
| 3 |
AT&T
T
|
+$126M |
| 4 |
ANDV
Andeavor
ANDV
|
+$120M |
| 5 |
Tyson Foods
TSN
|
+$117M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Pfizer
PFE
|
+$282M |
| 2 |
AET
Aetna Inc
AET
|
+$185M |
| 3 |
KeyCorp
KEY
|
+$162M |
| 4 |
EA
Electronic Arts
EA
|
+$159M |
| 5 |
Biogen
BIIB
|
+$139M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 15.29% |
| 2 | Financials | 14.6% |
| 3 | Consumer Discretionary | 13.62% |
| 4 | Industrials | 12.44% |
| 5 | Healthcare | 11.5% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
2226
CNX Resources
CNX
$5.38B
| – | – |
-273,346
| Closed | -$1.8M |
|
2227
Copa Holdings
CPA
$5.88B
| – | – |
-110,348
| Closed | -$5.33M |
|
2228
Copart
CPRT
$31.3B
| – | – |
-2,219,064
| Closed | -$10.5M |
|
|
CPRX
2229
DELISTED
Catalyst Pharmaceutical
CPRX
| – | – |
-63,742
| Closed | -$156K |
|
2230
America's Car Mart
CRMT
$20.6M
| – | – |
-11,332
| Closed | -$302K |
|
2231
Commault Systems
CVLT
$5.55B
| – | – |
-71,700
| Closed | -$2.82M |
|
2232
Deutsche Bank
DB
$71.1B
| – | – |
-704,119
| Closed | -$15.4M |
|
2233
3D Systems Corp
DDD
$530M
| – | – |
-132,341
| Closed | -$1.15M |
|
2234
Dine Brands
DIN
$454M
| – | – |
-2,887
| Closed | -$244K |
|
2235
Digimarc Corp
DMRC
$138M
| – | – |
-5,672
| Closed | -$207K |
|
2236
iShares MSCI Emerging Markets ETF
EEM
$30.7B
| – | – |
-218,782
| Closed | -$7.04M |
|
2237
Enovis
ENOV
$1.5B
| – | – |
-67,682
| Closed | -$2.72M |
|
2238
Element Solutions
ESI
$8.6B
| – | – |
-19,105
| Closed | -$245K |
|
2239
Eagle Materials
EXP
$6.35B
| – | – |
-20,184
| Closed | -$1.22M |
|
2240
Graco
GGG
$13.1B
| – | – |
-39,495
| Closed | -$949K |
|
2241
Group 1 Automotive
GPI
$3.12B
| – | – |
-10,671
| Closed | -$808K |
|
2242
Hain Celestial
HAIN
$71.6M
| – | – |
-95,963
| Closed | -$3.88M |
|
2243
Howard Hughes
HHH
$3.97B
| – | – |
-15,792
| Closed | -$1.7M |
|
2244
Harmonic Inc
HLIT
$1.36B
| – | – |
-14,988
| Closed | -$61K |
|
2245
Inseego
INSG
$72.1M
| – | – |
-4,880
| Closed | -$81K |
|
2246
Itron
ITRI
$4.38B
| – | – |
-10,535
| Closed | -$381K |
|
2247
Jefferies Financial Group
JEF
$12.1B
| – | – |
-40,866
| Closed | -$636K |
|
2248
Kirby Corp
KEX
$7.39B
| – | – |
-19,673
| Closed | -$1.03M |
|
2249
Knowles
KN
$2.85B
| – | – |
-72,627
| Closed | -$968K |
|
2250
Kosmos Energy
KOS
$1.76B
| – | – |
-956,086
| Closed | -$4.97M |
|
Similar funds
Cliff Asness's Q1 2016 Portfolio in Review
As of Q1 2016, Cliff Asness held 2,396 positions worth $55.6B, down 2.7% from $57.1B the previous quarter. Its ten largest holdings account for 8.6% of the portfolio.
Cliff Asness withdrew a net $1.96B in Q1 2016, closing 192 positions and reducing 924 holdings. Its most notable exit was Broadcom, an estimated $82.9M position sold in full.
By sector, the portfolio is most concentrated in Technology at 15% of assets, up from 15% a quarter earlier, followed by Financials and Consumer Discretionary.
Against the trend, Cliff Asness opened a new position in CONCHO RESOURCES INC. worth $18.5M.
- Cliff Asness's largest Q1 2016 buy was CONCHO RESOURCES INC.: 182,889 shares worth $18.5M.
- Cliff Asness added most to Verizon in Q1 2016, an estimated $145M increase.
- Cliff Asness's biggest Q1 2016 reduction was Pfizer, cutting an estimated $282M.
- Cliff Asness fully exited Broadcom in Q1 2016, selling an estimated $82.9M.
- Cliff Asness's ten largest holdings make up 8.6% of its $55.6B portfolio in Q1 2016.
- Cliff Asness opened 159 new positions and closed 192 in Q1 2016.
- Cliff Asness's portfolio value fell 2.7% quarter-over-quarter to $55.6B.
Based on AQR Capital Management's 13F filing for Q1 2016, filed 16 May 2016.