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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
+3.45%
1 Year Est. Return
+24.2%
3 Year Est. Return
+90.61%
5 Year Est. Return
+144.35%
10 Year Est. Return
–
AUM
$1.06B
AUM Growth
-$377M
(-26%)
Cap. Flow
-$409M
Cap. Flow
% of AUM
-38.51%
Top 10 Holdings %
Top 10 Hldgs %
27.28%
Holding
733
New
39
Increased
98
Reduced
269
Closed
154
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Sunstone Hotel Investors
SHO
|
+$7.98M |
| 2 |
Idacorp
IDA
|
+$7.48M |
| 3 |
First Industrial Realty Trust
FR
|
+$6.91M |
| 4 |
Essent Group
ESNT
|
+$6.26M |
| 5 |
eBay
EBAY
|
+$6.05M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard Real Estate ETF
VNQ
|
+$32.9M |
| 2 |
Mastercard
MA
|
+$16.9M |
| 3 |
Thermo Fisher Scientific
TMO
|
+$11.9M |
| 4 |
Microsoft
MSFT
|
+$11.2M |
| 5 |
JPMorgan Chase
JPM
|
+$10.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 14.95% |
| 2 | Technology | 14.15% |
| 3 | Consumer Discretionary | 10.75% |
| 4 | Healthcare | 10.26% |
| 5 | Industrials | 8.26% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
AD
301
Array Digital Infrastructure
AD
$3.04B
| $522K | 0.05% |
13,900
| – | – |
|
302
US Bancorp
USB
$97.9B
| $520K | 0.05% |
9,400
-28,596
| -75% | -$1.55M |
|
|
WCG
303
DELISTED
Wellcare Health Plans, Inc.
WCG
| $519K | 0.05% |
2,003
| – | – |
|
304
Truist Financial
TFC
$63.9B
| $515K | 0.05% |
9,656
| – | – |
|
305
Align Technology
ALGN
$12.9B
| $507K | 0.05% |
2,800
-7,471
| -73% | -$1.55M |
|
306
Mid-America Apartment Communities
MAA
$16B
| $506K | 0.05% |
3,894
| – | – |
|
307
Toll Brothers
TOL
$14B
| $506K | 0.05% |
12,327
-15,205
| -55% | -$561K |
|
308
Anika Therapeutics
ANIK
$215M
| $504K | 0.05% |
9,180
-847
| -8% | -$43.5K |
|
309
United Therapeutics
UTHR
$26.1B
| $502K | 0.05% |
6,300
| – | – |
|
310
American Tower
AMT
$83.5B
| $496K | 0.05% |
2,242
-8,284
| -79% | -$1.81M |
|
311
Madison Square Garden
MSGS
$9.59B
| $492K | 0.05% |
2,616
| – | – |
|
312
Perdoceo Education
PRDO
$2.17B
| $492K | 0.05% |
30,953
+27,507
| +798% | +$540K |
|
313
TechTarget
TTGT
$327M
| $491K | 0.05% |
21,794
+15,815
| +265% | +$363K |
|
|
SIVB
314
DELISTED
SVB Financial Group
SIVB
| $487K | 0.05% |
2,332
| – | – |
|
315
Central Garden & Pet Co
CENT
$2.76B
| $486K | 0.05% |
20,786
-1,440
| -6% | -$31.2K |
|
316
Cummins
CMI
$83.6B
| $478K | 0.05% |
2,941
-12,295
| -81% | -$1.97M |
|
317
Seaboard Corp
SEB
$4.39B
| $468K | 0.04% |
107
-93
| -47% | -$380K |
|
318
Markel Group
MKL
$25.2B
| $463K | 0.04% |
392
| – | – |
|
319
Welltower
WELL
$174B
| $461K | 0.04% |
5,083
| – | – |
|
|
KBAL
320
DELISTED
Kimball International
KBAL
| $459K | 0.04% |
23,789
-20,178
| -46% | -$360K |
|
|
ATRI
321
DELISTED
Atrion Corp
ATRI
| $458K | 0.04% |
588
-149
| -20% | -$116K |
|
322
T-Mobile US
TMUS
$195B
| $457K | 0.04% |
5,800
| – | – |
|
|
QADA
323
DELISTED
QAD Inc.
QADA
| $455K | 0.04% |
9,851
| – | – |
|
|
NEX
324
DELISTED
NexTier Oilfield Solutions Inc.
NEX
| $453K | 0.04% |
74,763
-64,018
| -46% | -$375K |
|
325
Oshkosh
OSK
$8.82B
| $452K | 0.04% |
5,964
-15,336
| -72% | -$1.17M |
|
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First Quadrant's Q3 2019 Portfolio in Review
As of Q3 2019, First Quadrant held 733 positions worth $1.06B, down 26% from $1.44B the previous quarter. Its ten largest holdings account for 27% of the portfolio.
First Quadrant withdrew a net $409M in Q3 2019, closing 154 positions and reducing 269 holdings. Its most notable exit was Thermo Fisher Scientific, an estimated $11.9M position sold in full.
By sector, the portfolio is most concentrated in Financials at 15% of assets, down from 16% a quarter earlier, followed by Technology and Consumer Discretionary.
Against the trend, First Quadrant opened a new position in Avient worth $5.75M.
- First Quadrant's largest Q3 2019 buy was Avient: 176,119 shares worth $5.75M.
- First Quadrant added most to Sunstone Hotel Investors in Q3 2019, an estimated $7.98M increase.
- First Quadrant's biggest Q3 2019 reduction was Vanguard Real Estate ETF, cutting an estimated $32.9M.
- First Quadrant fully exited Thermo Fisher Scientific in Q3 2019, selling an estimated $11.9M.
- First Quadrant's ten largest holdings make up 27% of its $1.06B portfolio in Q3 2019.
- First Quadrant opened 39 new positions and closed 154 in Q3 2019.
- First Quadrant's portfolio value fell 26% quarter-over-quarter to $1.06B.
Based on First Quadrant's 13F filing for Q3 2019, filed 25 Oct 2019.