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 |
Gilead Sciences
GILD
|
+$234M |
| 2 |
eBay
EBAY
|
+$223M |
| 3 |
Walt Disney
DIS
|
+$189M |
| 4 |
Humana
HUM
|
+$184M |
| 5 |
DXC Technology
DXC
|
+$172M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Wells Fargo
WFC
|
+$236M |
| 2 |
Citizens Financial Group
CFG
|
+$157M |
| 3 |
Applied Materials
AMAT
|
+$156M |
| 4 |
Huntsman Corp
HUN
|
+$154M |
| 5 |
STI
SunTrust Banks, Inc.
STI
|
+$151M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 16.97% |
| 2 | Technology | 16.56% |
| 3 | Industrials | 15.08% |
| 4 | Healthcare | 12.53% |
| 5 | Consumer Discretionary | 12.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Apple
AAPL
$4.51T
| $999M | 1.32% |
27,753,564
+1,414,900
| +5% | +$52.3M |
|
2
Microsoft
MSFT
$3.59T
| $923M | 1.22% |
13,384,388
+1,211,484
| +10% | +$83.2M |
|
3
Walmart Inc
WMT
$825B
| $709M | 0.94% |
28,097,373
+3,400,842
| +14% | +$86.3M |
|
|
4
eBay
EBAY
$46.3B
| $661M | 0.87% |
18,922,240
+6,524,395
| +53% | +$223M |
|
5
Johnson & Johnson
JNJ
$651B
| $650M | 0.86% |
4,914,214
-825,096
| -14% | -$105M |
|
6
JPMorgan Chase
JPM
$935B
| $629M | 0.83% |
6,879,743
+1,366,355
| +25% | +$118M |
|
7
UnitedHealth
UNH
$350B
| $619M | 0.82% |
3,337,008
-298,940
| -8% | -$52.4M |
|
|
8
Gilead Sciences
GILD
$181B
| $618M | 0.82% |
8,731,680
+3,518,634
| +67% | +$234M |
|
9
Elevance Health
ELV
$86.9B
| $577M | 0.76% |
3,068,530
+146
| +0% | +$26.2K |
|
10
Allstate
ALL
$64.2B
| $566M | 0.75% |
6,400,734
+132,145
| +2% | +$11.2M |
|
11
Alibaba
BABA
$286B
| $547M | 0.72% |
3,884,259
+86,866
| +2% | +$10.7M |
|
12
Procter & Gamble
PG
$336B
| $535M | 0.71% |
6,138,798
+591,938
| +11% | +$52.2M |
|
13
Merck
MRK
$376B
| $533M | 0.71% |
8,716,986
+179,355
| +2% | +$10.9M |
|
14
PNC Financial Services
PNC
$97B
| $523M | 0.69% |
4,190,040
-545,932
| -12% | -$65.8M |
|
15
Alphabet (Google) Class A
GOOGL
$4.22T
| $522M | 0.69% |
11,231,280
+326,660
| +3% | +$15.3M |
|
16
Boeing
BA
$169B
| $501M | 0.66% |
2,532,571
-95,113
| -4% | -$17.7M |
|
17
Amazon
AMZN
$2.79T
| $501M | 0.66% |
10,345,040
+188,380
| +2% | +$8.99M |
|
18
United Airlines
UAL
$36.7B
| $498M | 0.66% |
6,611,803
-277,214
| -4% | -$20.9M |
|
19
Pfizer
PFE
$160B
| $491M | 0.65% |
15,422,314
+3,963,008
| +35% | +$125M |
|
20
Travelers Companies
TRV
$75.8B
| $477M | 0.63% |
3,773,565
+747,358
| +25% | +$92M |
|
21
TSMC
TSM
$2.17T
| $468M | 0.62% |
13,398,911
-2,061,620
| -13% | -$71.3M |
|
22
Northrop Grumman
NOC
$78.3B
| $467M | 0.62% |
1,820,203
-169,006
| -8% | -$42.3M |
|
23
Intel
INTC
$476B
| $464M | 0.61% |
13,746,088
+2,422,485
| +21% | +$86.7M |
|
|
RTN
24
DELISTED
Raytheon Company
RTN
| $461M | 0.61% |
2,852,747
+63,179
| +2% | +$10M |
|
|
AET
25
DELISTED
Aetna Inc
AET
| $457M | 0.6% |
3,009,090
-629,987
| -17% | -$89M |
|
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Cliff Asness's Q2 2017 Portfolio in Review
As of Q2 2017, Cliff Asness held 2,306 positions worth $75.6B, up 0.44% from $75.2B the previous quarter. Its ten largest holdings account for 9.2% of the portfolio.
Cliff Asness's Q2 2017 filing shows 139 new, 928 increased, 1,013 reduced and 118 closed positions. Its largest new stake was DXC Technology: 2,594,054 shares worth $172M. The largest sale was Wells Fargo, an estimated $236M.
By sector, the portfolio is most concentrated in Financials at 17% of assets, down from 18% a quarter earlier, followed by Technology and Industrials.
- Cliff Asness's largest Q2 2017 buy was DXC Technology: 2,594,054 shares worth $172M.
- Cliff Asness added most to Gilead Sciences in Q2 2017, an estimated $234M increase.
- Cliff Asness's biggest Q2 2017 reduction was Wells Fargo, cutting an estimated $236M.
- Cliff Asness fully exited Computer Sciences in Q2 2017, selling an estimated $77.8M.
- Cliff Asness's ten largest holdings make up 9.2% of its $75.6B portfolio in Q2 2017.
- Cliff Asness opened 139 new positions and closed 118 in Q2 2017.
- Cliff Asness's portfolio value rose 0.44% quarter-over-quarter to $75.6B.
Based on AQR Capital Management's 13F filing for Q2 2017, filed 14 Aug 2017.