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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
-1.89%
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
$48.4B
AUM Growth
+$1.38B
Cap. Flow
+$2.75B
Cap. Flow %
5.68%
Top 10 Hldgs %
14.42%
Holding
2,432
New
254
Increased
1,140
Reduced
904
Closed
123

Top Buys

Rank Stock Value
1
HE icon
Hawaiian Electric Industries
HE
+$139M
2
GE icon
GE Aerospace
GE
+$128M
3
NVDA icon
NVIDIA
NVDA
+$100M
4
CFG icon
Citizens Financial Group
CFG
+$99M
5
TAP icon
Molson Coors Class B
TAP
+$97.6M

Top Sells

Rank Stock Value
1
CF icon
CF Industries
CF
+$89.6M
2
BKNG icon
Booking.com
BKNG
+$82.6M
3
DPZ icon
Domino's
DPZ
+$81.9M
4
AAPL icon
Apple
AAPL
+$81.9M
5
AIG icon
American International
AIG
+$75.5M

Sector Composition

Rank Sector Weight
1 Technology 23.32%
2 Healthcare 13.45%
3 Consumer Discretionary 13.43%
4 Industrials 12.23%
5 Financials 11.73%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CONN
2401
DELISTED
Conn's Inc.
CONN
– –
-80,838
Closed -$299K
FREE
2402
DELISTED
Whole Earth Brands, Inc. Class A Common Stock
FREE
– –
-83,502
Closed -$336K
CERE
2403
DELISTED
Cerevel Therapeutics Holdings, Inc. Common Stock
CERE
– –
-7,021
Closed -$223K
MODN
2404
DELISTED
MODEL N, INC.
MODN
– –
-8,670
Closed -$307K
SOVO
2405
DELISTED
Sovos Brands, Inc. Common Stock
SOVO
– –
-13,410
Closed -$262K
RCAC
2406
DELISTED
Revelstone Capital Acquisition Corp. Class A Common Stock
RCAC
– –
-299,310
Closed -$3.09M
NVTA
2407
DELISTED
Invitae Corporation
NVTA
– –
-59,274
Closed -$67K
NXGN
2408
DELISTED
NextGen Healthcare, Inc. Common Stock
NXGN
– –
-54,108
Closed -$878K
WE
2409
DELISTED
WeWork Inc.
WE
– –
-1,166
Closed -$11.9K
AVID
2410
DELISTED
Avid Technology Inc
AVID
– –
-45,082
Closed -$1.15M
VCSA
2411
DELISTED
Vacasa, Inc. Class A Common Stock
VCSA
– –
-1,176
Closed -$16K
CELL
2412
DELISTED
PhenomeX Inc. Common Stock
CELL
– –
-492,751
Closed -$241K
TRTN
2413
DELISTED
Triton International Limited
TRTN
– –
-15,734
Closed -$1.31M
SYNH
2414
DELISTED
Syneos Health, Inc. Class A Common Stock
SYNH
– –
-1,093,582
Closed -$46.1M
RETA
2415
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
– –
-5,957
Closed -$607K
RTL
2416
DELISTED
The Necessity Retail REIT, Inc. Class A Common Stock
RTL
– –
-781,888
Closed -$5.29M
BKI
2417
DELISTED
Black Knight, Inc. Common Stock
BKI
– –
-4,777
Closed -$285K
NEX
2418
DELISTED
NexTier Oilfield Solutions Inc.
NEX
– –
-133,250
Closed -$1.19M
NUVA
2419
DELISTED
NuVasive, Inc.
NUVA
– –
-9,334
Closed -$388K
FOCS
2420
DELISTED
Focus Financial Partners Inc. Class A
FOCS
– –
-4,351
Closed -$228K
FRG
2421
DELISTED
Franchise Group, Inc.
FRG
– –
-7,605
Closed -$218K
ARNC
2422
DELISTED
Arconic Corporation
ARNC
– –
-59,813
Closed -$1.77M
PTRA
2423
DELISTED
Proterra Inc. Common Stock
PTRA
– –
-91,721
Closed -$110K
PDCE
2424
DELISTED
PDC Energy, Inc.
PDCE
– –
-41,929
Closed -$2.98M
UNVR
2425
DELISTED
Univar Solutions Inc.
UNVR
– –
-1,688,289
Closed -$60.5M
94 95 96
97
98

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Cliff Asness's Q3 2023 Portfolio in Review

As of Q3 2023, Cliff Asness held 2,432 positions worth $48.4B, up 2.9% from $47B the previous quarter. Its ten largest holdings account for 14% of the portfolio.

Cliff Asness deployed $2.75B of net new capital in Q3 2023, opening 254 new positions and adding to 1,140 existing holdings. Its largest new stake was Vanguard FTSE Developed Markets ETF: 624,491 shares worth $27.3M.

By sector, the portfolio is most concentrated in Technology at 23% of assets, down from 24% a quarter earlier, followed by Healthcare and Consumer Discretionary.

On the sell side, the largest reduction was CF Industries, an estimated $89.6M trimmed.

  • Cliff Asness's largest Q3 2023 buy was Vanguard FTSE Developed Markets ETF: 624,491 shares worth $27.3M.
  • Cliff Asness added most to Hawaiian Electric Industries in Q3 2023, an estimated $139M increase.
  • Cliff Asness's biggest Q3 2023 reduction was CF Industries, cutting an estimated $89.6M.
  • Cliff Asness fully exited Univar Solutions Inc. in Q3 2023, selling an estimated $60.5M.
  • Cliff Asness's ten largest holdings make up 14% of its $48.4B portfolio in Q3 2023.
  • Cliff Asness opened 254 new positions and closed 123 in Q3 2023.
  • Cliff Asness's portfolio value rose 2.9% quarter-over-quarter to $48.4B.

Based on AQR Capital Management's 13F filing for Q3 2023, filed 14 Nov 2023.