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Billionaire Cliff Asness Portfolio: 10 Stocks Under $20

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·6 min read
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  • MRO
  • CX
  • FNB
  • KMI

In this article, we reviewed billionaire Cliff Asness' investment philosophy and portfolio management strategies. We also examined his hedge fund's top 10 stocks under $20. You can skip our comprehensive list and detailed analysis and jump directly to the Billionaire Cliff Asness Portfolio: 5 Stocks Under $20.

American billionaire Cliff Asness is one of the most prominent Wall Street figures. He founded AQR Capital Management in 1998, a hedge fund focused on factor-based strategies for bolstering a quantitative approach to investing. Asness, now 55 and worth around $1.4 billion, earned dual degrees from the University of Pennsylvania in Computer Science and Economics, as well as a Ph.D. in Finance from the University of Chicago. Before founding AQR Capital, he worked on Goldman Sachs Asset Management's quantitative research desk, where he developed and used computer-driven models to beat the market.

As of September, AQR Capital Management managed more than $164 billion in assets, and its 13F securities portfolio was worth $53.9 billion. The firm's securities portfolio includes thousands of small and large cap stocks, and we will review the top 10 stocks under $20 out of them.

The most notable stocks in Cliff Asness' portfolio under $20 include Marathon Oil Corporation (NYSE:MRO), F.N.B. Corporation (NYSE:FNB), CEMEX, S.A.B. de C.V. (NYSE:CX), Xerox Holdings Corporation (NASDAQ:XRX), and Kinder Morgan, Inc. (NYSE:KMI).

In addition to investing in stocks under $20, which give investors the chance to buy shares in bulk, the quant fund's strategy of investing in high-quality companies and holding them for a long time has also led to massive gains. For instance, Cliff Asness has owned stakes in Apple Inc. (NASDAQ:AAPL) and Microsoft Corporation (NASDAQ:MSFT) since 2004, which means that AQR capital management benefited from the tech giants' spectacular share price gains and dividend returns.

As of September, the firm owned stakes worth almost $1.90 billion in Apple Inc. (NASDAQ:AAPL) and $1.7 billion in Microsoft Corporation (NASDAQ:MSFT).

Let's start digging into billionaire Cliff Asness' portfolio to review 10 stocks under $20. For this article, we made use of AQR Capital Management’s 13F portfolio as of September to pick 10 stocks under $20.

Billionaire Cliff Asness Portfolio: 10 Stocks Under $20
Billionaire Cliff Asness Portfolio: 10 Stocks Under $20

Cliff Asness of AQR Capital Management

Billionaire Cliff Asness Portfolio: 10 Stocks Under $20

10. CEMEX, S.A.B. de C.V. (NYSE:CX)

AQR Capital Management's Stake Value: $22.70 million

Percentage of AQR Capital Management's 13F Portfolio: 0.04%

Number of Hedge Fund Holders: 23

Shares of the construction material supplier CEMEX, S.A.B. de C.V. (NYSE:CX) gained upside momentum this year amid economic recovery and improvement in infrastructure activities. The stock price of CEMEX, S.A.B. de C.V. (NYSE:CX) is currently trading around $6, with a market cap of over $9 billion. Its top line grew 8% year over year in the September quarter, driven by robust demand across all products. Moving ahead, CEMEX, S.A.B. de C.V. (NYSE:CX) anticipates booming residential sector will fuel cement and other construction products demand.

CEMEX, S.A.B. de C.V. (NYSE:CX) was in 23 hedge funds’ portfolios as of June. Howard Marks' Oaktree Capital Management was the leading stakeholder in Cemex SAB de CV (NYSE:CX) with a stake worth $175 million.

9. Marathon Oil Corporation (NYSE:MRO)

AQR Capital Management's Stake Value: $23.4 million

Percentage of AQR Capital Management's 13F Portfolio: 0.04%

Number of Hedge Fund Holders: 34

AQR Capital lifted its position by 103% in Marathon Oil Corporation (NYSE:MRO) during the September quarter. The firm’s strategy appears to be working because energy companies like Marathon Oil Corporation (NYSE:MRO) have been benefiting from strengthening oil demand and increasing prices since the beginning of this year. The share price of Marathon Oil Corporation (NYSE:MRO) is up 35% in the last six months, enlarging year-to-date gains to over 140%. Marathon Oil Corporation (NYSE:MRO) also offers a dividend yield of over 1.12%. Since the end of the last year, Marathon Oil Corporation (NYSE:MRO) has made a cumulative 100% dividend increase.

Of the 873 hedge funds tracked by Insider Monkey, 34 were bullish about Marathon Oil Corporation (NYSE:MRO) at the end of June compared to 29 positions in the prior quarter. DE Shaw and Israel Englander’s Millennium Management were among the leading stakeholders in Marathon Oil Corporation (NYSE:MRO).

8. F.N.B. Corporation (NYSE:FNB)

AQR Capital Management's Stake Value: $24.75 million

Percentage of AQR Capital Management's 13F Portfolio: 0.04%

Number of Hedge Fund Holders: 16

Billionaire Cliff Asness also raised his stake in F.N.B. Corporation (NYSE:FNB) by 38% in the September quarter. F.N.B. Corporation (NYSE:FNB), which is ranked eighth on the list of 10 stocks under $20, is a good stock to hold for the long term due to its healthy dividend yield of 3.86%. Moreover, the share price of F.N.B. Corporation (NYSE:FNB) is up 30% since the beginning of this year. F.N.B. Corporation (NYSE:FNB) also looks financially strong with record revenue of $321 million in the third quarter.

Like AQR Capital, Matthew Lindenbaum’s Basswood Capital and Jim Simons' Renaissance Technologies are among the leading stakeholders in F.N.B. Corporation (NYSE:FNB). The number of long hedge funds’ positions in F.N.B. Corporation (NYSE:FNB) stood at 16 as of June, according to data tracked by Insider Monkey.

7. Xerox Holdings Corporation (NASDAQ:XRX)

AQR Capital Management's Stake Value: $30.2 million

Percentage of AQR Capital Management's 13F Portfolio: 0.05%

Number of Hedge Fund Holders: 25

The stock price of Xerox Holdings Corporation (NASDAQ:XRX) dropped 19% in the last six months due to short-term supply chain issues. However, following the recent dip, Xerox Holdings Corporation (NASDAQ:XRX) appears like one of the best stocks to own under $20 as AQR has a $30 million stake in the company as of the third quarter. Xerox Holdings Corporation (NASDAQ:XRX) posted revenue of $1.76 billion in the third quarter and expects full-year revenue in the range of $7.1 billion.

Xerox Holdings Corporation (NASDAQ:XRX) was in 25 hedge funds’ portfolios at the end of June. Carl Icahn’s Icahn Capital LP is the leading stakeholder in Xerox Holdings Corporation (NASDAQ:XRX), according to the data tracked by Insider Monkey.

6. Kinder Morgan, Inc. (NYSE:KMI)

AQR Capital Management's Stake Value: $35.8 million

Percentage of AQR Capital Management's 13F Portfolio: 0.06%

Number of Hedge Fund Holders: 38

Kinder Morgan, Inc. (NYSE:KMI) is also among the best stocks under $20 amid its growth potential and a massive dividend yield of 6.63%. Kinder Morgan, Inc. (NYSE:KMI) is engaged in providing an energy infrastructure in North America. The rebound in energy demand boosted its revenue by 30% year over year in the third quarter. Kinder Morgan, Inc. (NYSE:KMI) is likely to perform well in the quarters ahead amid expectations for stronger fuel demand.

Of the 873 hedge funds tracked by Insider Monkey, Kinder Morgan, Inc. (NYSE:KMI) was in 38 hedge funds’ portfolios as of June. David Abrams' Abrams Capital Management was one of the leading stakeholders in Kinder Morgan, Inc. (NYSE:KMI) with a stake worth $208 million.

Like Marathon Oil Corporation (NYSE:MRO), F.N.B. Corporation (NYSE:FNB), CEMEX, S.A.B. de C.V. (NYSE:CX), and Xerox Holdings Corporation (NASDAQ:XRX), Kinder Morgan, Inc. (NYSE:KMI) has strong growth prospects ahead. Investors can also consider high growth stocks such as Apple Inc. (NASDAQ:AAPL) and Microsoft Corporation (NASDAQ:MSFT) when it comes to taking advantage of technological innovations.

Click to continue reading and see Billionaire Cliff Asness Portfolio: 5 Stocks Under $20.

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Disclosure: None. Billionaire Cliff Asness Portfolio: 10 Stocks Under $20 is originally published on Insider Monkey.