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FQ
First Quadrant Portfolio holdings
AUM
$18M
1-Year Est. Return
24.2%
This Fund
S&P 500
This Quarter
Est. Return
-12.43%
1 Year Est. Return
+24.2%
3 Year Est. Return
+90.61%
5 Year Est. Return
+144.35%
10 Year Est. Return
–
AUM
$1.24B
AUM Growth
-$3.26B
(-72%)
Cap. Flow
-$2.84B
Cap. Flow
% of AUM
-229.02%
Top 10 Holdings %
Top 10 Hldgs %
25.78%
Holding
912
New
82
Increased
112
Reduced
260
Closed
114
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cigna
CI
|
+$3.47M |
| 2 |
CVS Health
CVS
|
+$2.91M |
| 3 |
LXP Industrial Trust
LXP
|
+$1.42M |
| 4 |
Rexford Industrial Realty
REXR
|
+$1.26M |
| 5 |
CLDT
Chatham Lodging
CLDT
|
+$995K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$79.7M |
| 2 |
Microsoft
MSFT
|
+$67.1M |
| 3 |
Vanguard Real Estate ETF
VNQ
|
+$55.2M |
| 4 |
Amazon
AMZN
|
+$55.1M |
| 5 |
UnitedHealth
UNH
|
+$40.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 16.46% |
| 2 | Technology | 14.16% |
| 3 | Healthcare | 13.85% |
| 4 | Industrials | 11.28% |
| 5 | Consumer Discretionary | 9.22% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
251
Plexus
PLXS
$6.43B
| $919K | 0.07% |
18,000
| – | – |
|
252
SBA Communications
SBAC
$19.8B
| $908K | 0.07% |
5,607
| – | – |
|
|
CLDT
253
Chatham Lodging
CLDT
$632M
| $904K | 0.07% |
+51,149
| New | +$995K |
|
254
NVIDIA
NVDA
$4.6T
| $899K | 0.07% |
269,400
-1,105,960
| -80% | -$5.29M |
|
255
CubeSmart
CUBE
$9.61B
| $886K | 0.07% |
30,887
-192,657
| -86% | -$5.66M |
|
256
Air Products & Chemicals
APD
$65.5B
| $880K | 0.07% |
+5,500
| New | +$872K |
|
257
Booking.com
BKNG
$156B
| $872K | 0.07% |
12,650
+1,700
| +16% | +$125K |
|
258
NorthWestern Energy
NWE
$4.34B
| $855K | 0.07% |
14,389
-9,399
| -40% | -$577K |
|
259
AdvanSix
ASIX
$542M
| $847K | 0.07% |
34,809
-1,128
| -3% | -$31.3K |
|
260
Accenture
ACN
$106B
| $829K | 0.07% |
5,879
-159,892
| -96% | -$25.3M |
|
|
AZPN
261
DELISTED
ASPEN TECHNOLOGY INC
AZPN
| $824K | 0.07% |
10,032
-185,543
| -95% | -$15.2M |
|
262
MillerKnoll
MLKN
$1.56B
| $823K | 0.07% |
27,221
+14,139
| +108% | +$470K |
|
263
Edison International
EIX
$30.3B
| $817K | 0.07% |
14,400
| – | – |
|
|
ANSS
264
DELISTED
Ansys
ANSS
| $815K | 0.07% |
5,700
-42,619
| -88% | -$6.62M |
|
265
Regions Financial
RF
$26.4B
| $815K | 0.07% |
60,900
| – | – |
|
|
EQC
266
DELISTED
Equity Commonwealth
EQC
| $815K | 0.07% |
27,167
+25,170
| +1,260% | +$767K |
|
267
Evolution Petroleum
EPM
$133M
| $800K | 0.06% |
117,251
+84,535
| +258% | +$792K |
|
268
BWX Technologies
BWXT
$14.4B
| $798K | 0.06% |
20,881
-3,116
| -13% | -$155K |
|
269
Deckers Outdoor
DECK
$14.1B
| $796K | 0.06% |
37,320
+4,374
| +13% | +$88.7K |
|
270
Intercontinental Exchange
ICE
$87.2B
| $791K | 0.06% |
10,494
| – | – |
|
|
MDRX
271
DELISTED
Veradigm Inc. Common Stock
MDRX
| $787K | 0.06% |
81,599
-8,291
| -9% | -$92.5K |
|
272
Vanda Pharmaceuticals
VNDA
$304M
| $779K | 0.06% |
29,800
-7,229
| -20% | -$170K |
|
273
Healthcare Realty
HR
$7.56B
| $773K | 0.06% |
30,528
| – | – |
|
274
Brady Corp
BRC
$4.46B
| $772K | 0.06% |
17,758
-14,218
| -44% | -$592K |
|
275
Crown Holdings
CCK
$13B
| $761K | 0.06% |
18,310
| – | – |
|
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First Quadrant's Q4 2018 Portfolio in Review
As of Q4 2018, First Quadrant held 912 positions worth $1.24B, down 72% from $4.5B the previous quarter. Its ten largest holdings account for 26% of the portfolio.
First Quadrant withdrew a net $2.84B in Q4 2018, closing 114 positions and reducing 260 holdings. Its most notable exit was S&P Global, an estimated $21.8M position sold in full.
By sector, the portfolio is most concentrated in Financials at 16% of assets, up from 14% a quarter earlier, followed by Technology and Healthcare.
Against the trend, First Quadrant opened a new position in LXP Industrial Trust worth $1.41M.
- First Quadrant's largest Q4 2018 buy was LXP Industrial Trust: 34,392 shares worth $1.41M.
- First Quadrant added most to Cigna in Q4 2018, an estimated $3.47M increase.
- First Quadrant's biggest Q4 2018 reduction was Apple, cutting an estimated $79.7M.
- First Quadrant fully exited S&P Global in Q4 2018, selling an estimated $21.8M.
- First Quadrant's ten largest holdings make up 26% of its $1.24B portfolio in Q4 2018.
- First Quadrant opened 82 new positions and closed 114 in Q4 2018.
- First Quadrant's portfolio value fell 72% quarter-over-quarter to $1.24B.
Based on First Quadrant's 13F filing for Q4 2018, filed 24 Jan 2019.