Cliff Asness, the billionaire money manager, bought a lot of Meta Platforms Inc., Pfizer Inc., and Moderna Inc. equities in Q1. The quant fund is situated in Greenwich, Connecticut, and it oversees more than $145 billion in assets. According to Forbes, Asness’s net worth is $1.4 billion, down from $3.1 billion in 2019. In 2018, AQR’s AUM reached a high of over $226 billion. Growth stocks underperformed value stocks in the first quarter. Through the end of April, the multi-strategy fund Absolute Return of AQR had gained 29.7% net of costs.
Insider Monkey looks at ten stocks that the billionaire Cliff Asness was relentlessly buying. Consolidated Edison, Inc. is one of the 5 Best Retirement Stocks To Buy Right Now, and Cliff Asness’ hedge fund owns 1.34 million shares of the company. The percentage of dividends paid out by the corporation is between 60 and 70 percent. In Q1, one of Wells Fargo & Company’s most ardent hedge fund advocates left the company. The last of Warren Buffett’s Wells Fargo holdings were sold off by his holding company. At the height of the pandemic, the bank was forced to drastically reduce dividend payments. Over the last eight years, the chemical company’s hedge fund ownership has decreased by 63 percent. The capacity of the United States has collapsed as a result of Russian sanctions and a cap on Chinese exports. By the end of the first quarter, AQR Capital had a 38 percent higher stake in Steel Dynamics, Inc. than it had at the beginning of the period. During Q1, a number of other well-known funds sold off large amounts of their STLD positions. With the steel industry strong, Cliff Asness’ AQR Capital has increased its holdings in Nucor Corporation. More than double the amount the company made in the same period last year, net income for the first quarter increased to $2.1 billion. For more details, click Billionaire Cliff Asness Was Relentlessly Buying Meta Platforms and These 9 Stocks in Q1.
