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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 | |
|---|---|---|---|---|---|---|
26
Marathon Petroleum
MPC
$90.1B
| $8.99M | 0.72% |
152,305
-206,309
| -58% | -$14.1M |
|
|
27
Cigna
CI
$78.4B
| $8.89M | 0.72% |
46,796
+16,650
| +55% | +$3.47M |
|
28
Ross Stores
ROST
$80.8B
| $8.87M | 0.71% |
106,614
-255,301
| -71% | -$23.1M |
|
|
CTXS
29
DELISTED
Citrix Systems Inc
CTXS
| $7.86M | 0.63% |
76,752
| – | – |
|
30
WEC Energy
WEC
$36.3B
| $7.78M | 0.63% |
112,318
| – | – |
|
|
DFS
31
DELISTED
Discover Financial Services
DFS
| $7.29M | 0.59% |
123,558
+322
| +0.3% | +$22.2K |
|
32
Home Depot
HD
$337B
| $6.79M | 0.55% |
39,548
-27,812
| -41% | -$4.99M |
|
33
Bank of America
BAC
$429B
| $6.7M | 0.54% |
271,873
-340,353
| -56% | -$9.23M |
|
34
Alaska Air
ALK
$5.11B
| $6.66M | 0.54% |
109,519
-33
| -0% | -$2.13K |
|
35
Toro Company
TTC
$8.79B
| $6.58M | 0.53% |
117,763
-298,572
| -72% | -$17.3M |
|
36
U-Haul Holding Co
UHAL
$14B
| $6.5M | 0.52% |
197,950
| – | – |
|
37
Edwards Lifesciences
EW
$49.4B
| $6.17M | 0.5% |
120,936
| – | – |
|
38
RenaissanceRe
RNR
$13.8B
| $6.16M | 0.5% |
46,070
| – | – |
|
39
W.R. Berkley
WRB
$28.1B
| $6.11M | 0.49% |
278,755
| – | – |
|
40
American Express
AXP
$224B
| $5.75M | 0.46% |
60,367
| – | – |
|
41
Northrop Grumman
NOC
$76B
| $5.65M | 0.46% |
23,075
| – | – |
|
42
Elevance Health
ELV
$81.5B
| $5.63M | 0.45% |
21,432
| – | – |
|
|
43
CVS Health
CVS
$135B
| $5.59M | 0.45% |
85,392
+38,999
| +84% | +$2.91M |
|
44
Southwest Airlines
LUV
$21.7B
| $5.55M | 0.45% |
119,405
-346,067
| -74% | -$18.4M |
|
45
Walt Disney
DIS
$171B
| $5.36M | 0.43% |
48,835
-125,775
| -72% | -$14.3M |
|
|
VVC
46
DELISTED
Vectren Corporation
VVC
| $5.35M | 0.43% |
74,315
| – | – |
|
47
Chemed
CHE
$7.16B
| $5.32M | 0.43% |
18,772
| – | – |
|
48
PNC Financial Services
PNC
$99.1B
| $5.29M | 0.43% |
45,226
| – | – |
|
49
Kroger
KR
$36.7B
| $5.17M | 0.42% |
188,142
-358,799
| -66% | -$10.4M |
|
50
Valero Energy
VLO
$89.5B
| $5.16M | 0.42% |
68,795
-147,442
| -68% | -$13M |
|
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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.