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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 | |
|---|---|---|---|---|---|---|
326
Consolidated Edison
ED
$41.4B
| $604K | 0.05% |
7,896
| – | – |
|
|
AEL
327
DELISTED
American Equity Investment Life Holding Company
AEL
| $603K | 0.05% |
21,575
+3,351
| +18% | +$108K |
|
328
Caterpillar
CAT
$361B
| $602K | 0.05% |
4,738
| – | – |
|
|
CSGS
329
DELISTED
CSG Systems International
CSGS
| $600K | 0.05% |
18,900
| – | – |
|
330
Stride
LRN
$4.16B
| $600K | 0.05% |
24,189
+8,000
| +49% | +$171K |
|
331
Sea Limited
SE
$66.4B
| $589K | 0.05% |
52,000
| – | – |
|
|
VRS
332
DELISTED
Verso Corporation
VRS
| $588K | 0.05% |
26,270
+13,209
| +101% | +$357K |
|
|
FLIR
333
DELISTED
FLIR Systems, Inc. (DE) Common Stock
FLIR
| $588K | 0.05% |
13,503
-47,398
| -78% | -$2.33M |
|
334
First Merchants
FRME
$2.69B
| $582K | 0.05% |
16,993
+10,193
| +150% | +$414K |
|
335
McKesson
MCK
$104B
| $580K | 0.05% |
5,250
-89
| -2% | -$11.1K |
|
336
Insight Enterprises
NSIT
$3.85B
| $574K | 0.05% |
14,089
+2,915
| +26% | +$134K |
|
337
Medtronic
MDT
$112B
| $573K | 0.05% |
6,299
| – | – |
|
|
BNY
338
Bank of New York Mellon
BNY
$103B
| $570K | 0.05% |
12,100
| – | – |
|
339
Equinix
EQIX
$99.4B
| $566K | 0.05% |
1,605
| – | – |
|
|
LTRPA
340
DELISTED
Liberty TripAdvisor Holdings, Inc. Series A
LTRPA
| $564K | 0.05% |
+35,482
| New | +$569K |
|
341
eBay
EBAY
$51.2B
| $556K | 0.04% |
19,800
| – | – |
|
342
First American
FAF
$7.98B
| $556K | 0.04% |
12,463
-363,644
| -97% | -$16.9M |
|
343
1-800-Flowers.com
FLWS
$252M
| $554K | 0.04% |
45,290
-1,970
| -4% | -$23.6K |
|
|
TYPE
344
DELISTED
Monotype Imaging Holdings Inc.
TYPE
| $552K | 0.04% |
+35,569
| New | +$633K |
|
345
AES
AES
$10.6B
| $546K | 0.04% |
37,729
-139,547
| -79% | -$2.1M |
|
346
Unum
UNM
$13.2B
| $546K | 0.04% |
18,600
| – | – |
|
|
ATRI
347
DELISTED
Atrion Corp
ATRI
| $546K | 0.04% |
737
| – | – |
|
348
Newmont
NEM
$96.2B
| $535K | 0.04% |
15,453
| – | – |
|
349
WSFS Financial
WSFS
$4.14B
| $533K | 0.04% |
14,058
-2,440
| -15% | -$103K |
|
350
Healthpeak Properties
DOC
$15.5B
| $529K | 0.04% |
18,935
| – | – |
|
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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.