Billionaire Cliff Asness’ 5 New Stock Picks

3. Royal Caribbean Cruises Ltd. (NYSE:RCL)

AQR Capital Management’s Stake Value as of 9/30: $4,361,000

Percentage of AQR Capital Management’s 13F Portfolio as of 9/30: 0.01%

Royal Caribbean Cruises Ltd. (NYSE:RCL) is a leading cruise line that has been negatively affected by the pandemic in 2020 and 2021. With macroeconomic headwinds in 2022, shares are down around 25% year to date. If demand recovers like analysts expect, Royal Caribbean Cruises Ltd. (NYSE:RCL) could be profitable in 2023 and increase its profitability further in 2024. If demand doesn’t recover as expected, however, the stock could have more downside. AQR Capital Management established a new position of $4,361,000 in Royal Caribbean Cruises Ltd. (NYSE:RCL) in the third quarter.