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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
+7.05%
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
$105B
AUM Growth
+$5.25B
Cap. Flow
+$274M
Cap. Flow %
0.26%
Top 10 Hldgs %
13.27%
Holding
2,400
New
91
Increased
1,022
Reduced
1,069
Closed
146

Top Buys

Rank Stock Value
1
MU icon
Micron Technology
MU
+$619M
2
TGT icon
Target
TGT
+$465M
3
MSFT icon
Microsoft
MSFT
+$390M
4
PFE icon
Pfizer
PFE
+$353M
5
ADBE icon
Adobe
ADBE
+$348M

Top Sells

Rank Stock Value
1
META icon
Meta Platforms (Facebook)
META
+$401M
2
ORCL icon
Oracle
ORCL
+$322M
3
EBAY icon
eBay
EBAY
+$235M
4
EXC icon
Exelon
EXC
+$232M
5
BKNG icon
Booking.com
BKNG
+$197M

Sector Composition

Rank Sector Weight
1 Technology 21.82%
2 Healthcare 17.12%
3 Consumer Discretionary 14.04%
4 Industrials 11.74%
5 Financials 9.85%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KMI icon
2301
Kinder Morgan
KMI
$69B
– –
-37,094
Closed -$655K
KNX icon
2302
Knight Transportation
KNX
$11.7B
– –
-129,306
Closed -$4.94M
KODK icon
2303
Kodak
KODK
$963M
– –
-16,253
Closed -$62K
KTOS icon
2304
Kratos Defense & Security Solutions
KTOS
$10.7B
– –
-33,163
Closed -$382K
LBRDK
2305
DELISTED
Liberty Broadband Class C
LBRDK
– –
-4,935
Closed -$374K
LBTYK icon
2306
Liberty Global Class C
LBTYK
$3.55B
– –
-14,250
Closed -$379K
LEN icon
2307
Lennar Class A
LEN
$21B
– –
-6,782
Closed -$345K
MAT icon
2308
Mattel
MAT
$4.15B
– –
-30,313
Closed -$498K
MGNI icon
2309
Magnite
MGNI
$3.37B
– –
-21,426
Closed -$61K
MNKD icon
2310
MannKind Corp
MNKD
$1.33B
– –
-57,069
Closed -$108K
MRCY icon
2311
Mercury Systems
MRCY
$5.49B
– –
-6,209
Closed -$236K
MTW icon
2312
Manitowoc
MTW
$710M
– –
-34,381
Closed -$889K
MTZ icon
2313
MasTec
MTZ
$21.4B
– –
-9,406
Closed -$477K
NBR icon
2314
Nabors Industries
NBR
$1.37B
– –
-13,289
Closed -$4.26M
NC icon
2315
NACCO Industries
NC
$309M
– –
-14,100
Closed -$476K
NTCT icon
2316
NETSCOUT
NTCT
$2.8B
– –
-9,968
Closed -$296K
NXPI icon
2317
NXP Semiconductors
NXPI
$56.9B
– –
-34,143
Closed -$3.73M
OPK icon
2318
Opko Health
OPK
$1.1B
– –
-13,899
Closed -$65K
PRTA icon
2319
Prothena Corp
PRTA
$485M
– –
-16,630
Closed -$242K
QMCO icon
2320
Quantum Corp
QMCO
$877M
– –
-13,632
Closed -$600K
RBA icon
2321
RB Global
RBA
$16.1B
– –
-10,535
Closed -$359K
RFL icon
2322
Rafael Holdings
RFL
$112M
– –
-28,689
Closed -$260K
RMBS icon
2323
Rambus
RMBS
$9.9B
– –
-10,935
Closed -$137K
SBCF icon
2324
Seacoast Banking Corp of Florida
SBCF
$3.35B
– –
-9,197
Closed -$290K
SBSI icon
2325
Southside Bancshares
SBSI
$956M
– –
-7,124
Closed -$240K
91 92
93
94 95

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Cliff Asness's Q3 2018 Portfolio in Review

As of Q3 2018, Cliff Asness held 2,400 positions worth $105B, up 5.3% from $99.3B the previous quarter. Its ten largest holdings account for 13% of the portfolio.

Cliff Asness's Q3 2018 filing shows 91 new, 1,022 increased, 1,069 reduced and 146 closed positions. Its largest new stake was Bombardier Recreational Products: 908,172 shares worth $42.6M. The largest sale was Meta Platforms (Facebook), an estimated $401M.

By sector, the portfolio is most concentrated in Technology at 22% of assets, up from 20% a quarter earlier, followed by Healthcare and Consumer Discretionary.

  • Cliff Asness's largest Q3 2018 buy was Bombardier Recreational Products: 908,172 shares worth $42.6M.
  • Cliff Asness added most to Micron Technology in Q3 2018, an estimated $619M increase.
  • Cliff Asness's biggest Q3 2018 reduction was Meta Platforms (Facebook), cutting an estimated $401M.
  • Cliff Asness fully exited Verifone Systems Inc in Q3 2018, selling an estimated $25.9M.
  • Cliff Asness's ten largest holdings make up 13% of its $105B portfolio in Q3 2018.
  • Cliff Asness opened 91 new positions and closed 146 in Q3 2018.
  • Cliff Asness's portfolio value rose 5.3% quarter-over-quarter to $105B.

Based on AQR Capital Management's 13F filing for Q3 2018, filed 14 Nov 2018.