Billionaire Cliff Asness 2023 Portfolio: Top 5 Blue Chip Value Stocks

2. Exxon Mobil Corporation (NYSE:XOM)

Trailing P/E Ratio: 7.31x

Cliff Asness’ AQR Capital Management’s Holdings: $372,554,060

Percentage of Cliff Asness’ AQR Capital Management’s Portfolio: 0.81%

Number of Hedge Fund Holders: 73

Exxon Mobil Corporation (NYSE:XOM) is betting on the lithium revolution as it is an integral component of electric vehicle batteries. The Irving, Texas-based oil major acquired significant drilling rights in Arkansas, where it intends to produce lithium. The sizeable chunk consists of 120,000 acres, and the company acquired this from Galvanic Energy for $100 million. According to estimates shared by Galvanic Energy, the region has the potential to produce four million tons of lithium carbonate, which could be used to power 50 million electric vehicles.