Cliff Asness's PENN Position Overview
Cliff Asness (via Aqr Capital Management LLC) currently holds 3.5 M shares of PENN Entertainment, Inc. (PENN) worth $51.34 M, representing 0.03% of the portfolio. First purchased in 2012-Q4, this long-term strategic position has been held for 49 quarters.
Based on 13F filings since 2013, Cliff Asness has maintained a long-term strategic position in PENN, representing a significant commitment to this investment thesis. Largest addition occurred in Q4 2025, adding 3.12 M shares. Largest reduction occurred in Q4 2023, reducing 1.17 M shares.
Analysis based on 13F filings available since 2013 Q2
Cliff Asness's PENN Entertainment (PENN) Holding Value Over Time
Track share changes against reported price movement
Quarterly PENN Entertainment (PENN) Trades by Cliff Asness
| Report Date | Bought/Sold (Sh.) | % Change | Qtr. End Shares | Reported Price |
|---|---|---|---|---|
| Q4 2025 | +3.12 M | Add 824.26% | 3.5 M | $14.67 |
| Q3 2025 | +328,989 | Add 662.48% | 378,649 | $19.26 |
| Q2 2025 | +30,147 | Add 154.50% | 49,660 | $17.87 |
| Q1 2025 | -1,937 | Reduce 9.03% | 19,513 | $16.31 |
| Q4 2024 | -2,702 | Reduce 11.19% | 21,450 | $18.73 |
| Q3 2024 | +24,152 | New Buy | 24,152 | $18.86 |
| Q2 2024 | -35,706 | Sold Out | 0 | $0.00 |
| Q1 2024 | -390,680 | Reduce 91.63% | 35,706 | $18.21 |
| Q4 2023 | -1.17 M | Reduce 73.30% | 426,386 | $26.02 |
| Q3 2023 | -528,172 | Reduce 24.85% | 1.6 M | $22.95 |
| Q2 2023 | +1.5 M | Add 239.50% | 2.13 M | $24.03 |
| Q1 2023 | +308,913 | Add 97.44% | 625,944 | $29.33 |
| Q4 2022 | +95,541 | Add 43.14% | 317,031 | $29.25 |
| Q3 2022 | -285,558 | Reduce 56.32% | 221,490 | $27.35 |
| Q2 2022 | +112,034 | Add 28.36% | 507,048 | $29.92 |
| Q1 2022 | +193,647 | Add 96.17% | 395,014 | $42.42 |
| Q4 2021 | +97,134 | Add 93.19% | 201,367 | $51.63 |
| Q3 2021 | -81,073 | Reduce 43.75% | 104,233 | $72.08 |
| Q2 2021 | +85,443 | Add 85.56% | 185,306 | $75.98 |
| Q1 2021 | +3,551 | Add 3.69% | 99,863 | $103.69 |
| Q4 2020 | +10,149 | Add 11.78% | 96,312 | $85.65 |
| Q3 2020 | -29,779 | Reduce 25.68% | 86,163 | $72.70 |
| Q2 2020 | -258,427 | Reduce 69.03% | 115,942 | $30.54 |
| Q1 2020 | +374,369 | New Buy | 374,369 | $12.65 |
| Q2 2019 | -11,229 | Sold Out | 0 | $0.00 |
| Q1 2019 | +11,229 | New Buy | 11,229 | $19.95 |
| Q4 2018 | -140,557 | Sold Out | 0 | $0.00 |
| Q3 2018 | -132,178 | Reduce 48.46% | 140,557 | $32.92 |
| Q2 2018 | -1,633 | Reduce 0.60% | 272,735 | $33.59 |
| Q1 2018 | +200,541 | Add 271.64% | 274,368 | $26.26 |
| Q4 2017 | +18,900 | Add 34.41% | 73,827 | $31.33 |
| Q3 2017 | +30,914 | Add 128.74% | 54,927 | $23.39 |
| Q2 2017 | +24,013 | New Buy | 24,013 | $21.41 |
| Q3 2016 | -30,970 | Sold Out | 0 | $0.00 |
| Q2 2016 | -23,334 | Reduce 42.97% | 30,970 | $13.95 |
| Q1 2016 | -25,317 | Reduce 31.80% | 54,304 | $16.68 |
| Q4 2015 | +14,568 | Add 22.39% | 79,621 | $16.03 |
| Q3 2015 | +7,997 | Add 14.02% | 65,053 | $16.79 |
| Q2 2015 | +37,456 | Add 191.10% | 57,056 | $18.35 |
| Q1 2015 | +19,600 | New Buy | 19,600 | $15.66 |
| Q4 2014 | -726,021 | Sold Out | 0 | $0.00 |
| Q3 2014 | -806,930 | Reduce 52.64% | 726,021 | $11.21 |
| Q2 2014 | +84,904 | Add 5.86% | 1.53 M | $12.14 |
| Q1 2014 | -46,804 | Reduce 3.13% | 1.45 M | $12.32 |
| Q4 2013 | +1.34 M | Add 850.40% | 1.49 M | $14.33 |
| Q3 2013 | +157,287 | New Buy | 157,287 | $55.36 |
| Q4 2012 | +60,000 | Add 0.00% | 60,000 | $49.12 |
Cliff Asness's PENN Entertainment Investment FAQs
Cliff Asness first purchased PENN Entertainment, Inc. (PENN) in Q4 2012, acquiring 60,000 shares, as reported in their 13F filing for that period. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Cliff Asness has held PENN Entertainment, Inc. (PENN) for 49 quarters since Q4 2012.
Cliff Asness's largest addition to PENN Entertainment, Inc. (PENN) was in Q4 2025, adding 3,499,700 shares worth $51.34 M.
According to the latest 13F filing for Q4 2025, Cliff Asness's firm, Aqr Capital Management LLC, owns 3,499,700 shares of PENN Entertainment, Inc. (PENN), valued at approximately $51.34 M.
As of the Q4 2025 filing, PENN Entertainment, Inc. (PENN) represents approximately 0.03% of Cliff Asness's publicly disclosed stock portfolio, making it one of their key holdings.
Cliff Asness's peak holding in PENN Entertainment, Inc. (PENN) was 3,499,700 shares, as reported at the end of Q4 2025.