A Look at Billionaire Cliff Asness’ Top Stock Picks

#1 Apple Inc. (NASDAQ:AAPL)

Shares held (as of September 30): 7.58 million
Total Value (as of September 30): $835.67 million
Percent of Portfolio (as of September 30): 1.67%

Seeing as it’s the largest company by market capitalization, it’s not surprising that Apple Inc. (NASDAQ:AAPL) would also be AQR’s largest holding, which amasses 1.67% of the fund’s portfolio. Apple recently added to its $200 billion cash pile when Samsung paid the company $548 million on December 14 for infringing on some of Apple’s patents. Although $548 million is pocket change for Apple, Samsung’s payment is significant in that it means ultra-low cost producer Xiaomi will likely have to pay Apple and other smartphone patent owners expensive royalties if it were to come to the United States or Europe. It’s not that Apple can’t handle the competition from Xiaomi, however. Apple’s sales have almost doubled year-over-year in China despite Xiaomi’s strong presence in the country.

Disclosure:None