Cliff Asness’ AQR Capital Management’s Return, AUM, and Holdings

AQR Capital Management’s top new holdings included Bausch Health Companies Inc (NYSE:BHC), in which the fund made a stake worth $84.49 million, buying 3.29 million shares and Tandem Diabetes Care Inc (NASDAQ:TNDM) whose 378,510 shares the fund acquired, and they were valued $16.22 million on September 30. Tandem Diabetes Care Inc (NASDAQ:TNDM) is a San Diego-based company that manufactures medical devices for helping people with diabetes. In its recent third quarter financial report the company disclosed an increase by 118% in pump shipments to 8,434 pumps, and an increase in sales by 71% to $46.3 million from $27 million in the same period in 2017. Its operating margin also got better, from -49% to -34%. Since the beginning of the year, the company’s stock price increased by a huge 1218%.  The number of smart money investors bullish on the stock from Insider Monkey’s database grew to 22 from 13 in the previous quarter.

Its stake in Fossil Group Inc (NASDAQ: FOSL) AQR Capital Management boosted during the third quarter by a big 6215% to 799,847 shares worth $18.62 million. It also raised its position in AmerisourceBergen Corp. (NYSE:ABC) by 3890% to 220,406 shares, valued $20.33 million. The fund seemed to have lost enthusiasm for some of the stocks during the third quarter, as it has decided to significantly lower its stakes in them. Those included QUALCOMM, Inc. (NASDAQ:QCOM) and Graphic Packaging Holding Company (NYSE:GPK), in which the fund slashed its stakes by -99% to 7,462 shares and 13,711 shares, respectively.

The biggest positions AQR Capital Management decided to completely sell during the third quarter were in Cooper Tire & Rubber Co (NYSE:CTB), whose 260,928 shares the fund previously held and Century Aluminum Co (NASDAQ:CENX), to whose 352,528 shares the fund said goodbye to. It is interesting to note that smart money investors from Insider Monkey’s system are also losing interest in these two stocks as the number of hedge funds with long positions in Cooper Tire & Rubber Co (NYSE:CTB) dropped to 10 from 12, and in Century Aluminum Co (NASDAQ:CENX) decreased to 11 from 16.

Disclosure: None. This article was originally published at Insider Monkey.