Investors are staying away from speculative wagers due to rising prices and high-interest rates. Meme stocks, once the center of intense debate, are now only discussed in Reddit communities. Wall Street tycoons are taking advantage of this negative trend by shorting stocks of well-known memes. One of the two most well-liked stocks for memes is AMC Entertainment Holdings, Inc. On the stock, hedge fund AQR Capital Management holds a tiny short position. “Meme stock maniacs” were challenged by the CEO John Asness to harm him with their short-selling tactics. John Asness of AQR Capital Management is a short seller of AMC Entertainment Holdings, Inc. At the beginning of 2022, the hedge fund manager was in charge of a $52.6 billion equities portfolio. His portfolio includes some of the best stocks, such as Apple, Microsoft, and Alphabet.
Insider Monkey highlighted Cliff Asness’ top stock picks. AQR Capital Management held over 710,000 shares of Thermo Fisher Scientific Inc. valued at $419 million. Since the third quarter of 2017, the company has been a part of AQR’s portfolio. AQR Capital Management owned about 3 million shares of The Proctor & Gamble Company worth $461 million, or 0.87 percent of the stock’s market value. Since late 2020, AQR has steadily decreased its ownership of the company. At the end of the first quarter of 2022, AQR Capital Management had roughly 2.9 million shares of Johnson & Johnson worth $528 million, or 1% of the portfolio. Since the third quarter of 2017, the company has been a part of AQR’s portfolio. AQR Capital Management had roughly 10.7 million shares of Pfizer Inc. worth $554 million, or 1.05 percent of the portfolio. AQR raised their ownership of the company in the first quarter of 2022 by 57 percent. At the end of March 2022, 2.9 million Meta Platforms, Inc. shares valued at $658 million were owned by AQR Capital Management. In the first three months of 2022, the hedge fund run by Asness boosted its interest in the internet company by 48%. For more details, click Cliff Asness’ Short Position On AMC And His Top 10 Stock Picks.
