Top Five Equity Holdings of Quant Billionaire Cliff Asness of AQR Capital

#4. Public Service Enterprise Group Inc. (NYSE:PEG)

– Shares owned by AQR Capital Management as of March 31: 4.63 Million

– Value of AQR Capital Management’s holding as of March 31: $474.45 Million

The Connecticut-based asset manager upped its position in Public Service Enterprise Group Inc. (NYSE:PEG) by 12% during the first three months of 2016 to 4.63 million shares. The quarter-end stake was worth $474.45 million and made up nearly 0.9% of the fund’s portfolio. The Newark-based power company has seen its shares gain 20% since the start of 2016. PSEG’s operating revenue for the first quarter of 2016 were $1.71 billion, down $290 million relative to the same period of the previous year. The decrease was mainly attributable to lower gas and electric revenues. PSEG currently offers shareholders a quarterly dividend of $0.41 per share, which yields 3.66% annually. In mid-March, analysts at Barclays raised the price target on PSEG to $47 from $45 and reiterated their ‘Equal Weight’ rating on the stock, saying that the company was growing while maintaining a healthy balance sheet. Israel Englander’s Millennium Management had 1.72 million shares of Public Service Enterprise Group Inc. (NYSE:PEG) in its portfolio at the end of March.

#3. PepsiCo Inc. (NYSE:PEP)

– Shares owned by AQR Capital Management as of March 31: 10.11 Million

– Value of AQR Capital Management’s holding as of March 31: $476.38 Million

The $154 billion-investment firm reduced its exposure to PepsiCo Inc. (NYSE:PEP) by 110,051 shares during the first quarter of 2016, ending the three-month period with 10.11 million shares valued at $476.38 million. PepsiCo has successfully diversified away from its soda-only original business, which has enabled the company to grow over the years despite experiencing a sustained decline in demand for sugary drinks. According to Susquehanna Financial Group analysts, carbonated soft-drink sale fell by 2.8% during the 12-week period that ended June 5. However, the company’s well-known Lay’s, Cheetos, Doritos, Ruffles, and Quaker foods and snacks have offset the negative impact of falling soda sales in recent years. PepsiCo has increased its annual dividend payment for 44 consecutive years, currently offering shareholders an annualized dividend yield of 2.91% or $3.01 per share. PepsiCo shares are up by 6% so far in 2016. Donald Yacktman’s Yacktman Asset Management reported ownership of 13.40 million shares of PepsiCo Inc. (NYSE:PEP) through the latest round of 13Fs.