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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 | |
|---|---|---|---|---|---|---|
26
Ross Stores
ROST
$80.8B
| $6.52M | 0.61% |
59,329
-56,762
| -49% | -$5.99M |
|
|
DFS
27
DELISTED
Discover Financial Services
DFS
| $6.49M | 0.61% |
80,003
-31,143
| -28% | -$2.57M |
|
|
PSB
28
DELISTED
PS Business Parks, Inc.
PSB
| $6.35M | 0.6% |
34,904
-12,150
| -26% | -$2.14M |
|
29
American Financial Group
AFG
$11.9B
| $6.3M | 0.59% |
58,464
+39,994
| +217% | +$4.14M |
|
30
Berkshire Hathaway Class B
BRK.B
$1.1T
| $6.22M | 0.59% |
29,910
-28,334
| -49% | -$5.84M |
|
31
Gentex
GNTX
$5.1B
| $6.17M | 0.58% |
224,034
+9,617
| +4% | +$254K |
|
32
Reinsurance Group of America
RGA
$15.5B
| $6.06M | 0.57% |
37,930
-515
| -1% | -$79.8K |
|
33
Unifirst Corp
UNF
$5.45B
| $5.91M | 0.56% |
30,293
-40
| -0.1% | -$7.75K |
|
34
Douglas Emmett
DEI
$2.05B
| $5.9M | 0.56% |
137,674
+48,808
| +55% | +$2.02M |
|
35
Simply Good Foods
SMPL
$907M
| $5.88M | 0.55% |
202,647
+202,091
| +36,347% | +$5.64M |
|
|
36
Mastercard
MA
$498B
| $5.87M | 0.55% |
21,607
-61,349
| -74% | -$16.9M |
|
37
Edwards Lifesciences
EW
$49.4B
| $5.76M | 0.54% |
78,519
-68,928
| -47% | -$4.84M |
|
38
Avient
AVNT
$3.29B
| $5.75M | 0.54% |
+176,119
| New | +$5.58M |
|
39
Nike
NKE
$64.1B
| $5.64M | 0.53% |
60,101
+10,393
| +21% | +$891K |
|
40
Globe Life
GL
$14B
| $5.62M | 0.53% |
58,704
-7,221
| -11% | -$655K |
|
41
Phillips 66
PSX
$82.9B
| $5.54M | 0.52% |
54,048
-3,422
| -6% | -$343K |
|
42
Chemed
CHE
$7.16B
| $5.42M | 0.51% |
12,981
-3,250
| -20% | -$1.33M |
|
43
Valero Energy
VLO
$89.5B
| $5.36M | 0.5% |
62,849
-5,946
| -9% | -$481K |
|
44
Southwest Airlines
LUV
$21.7B
| $5.18M | 0.49% |
95,879
-95,672
| -50% | -$5M |
|
45
Amgen
AMGN
$209B
| $5.16M | 0.49% |
26,686
-42,041
| -61% | -$8.07M |
|
46
UnitedHealth
UNH
$382B
| $5.15M | 0.48% |
23,692
-33,346
| -58% | -$8.05M |
|
47
Synchrony
SYF
$24.4B
| $5.11M | 0.48% |
149,811
+51,630
| +53% | +$1.77M |
|
48
Chevron
CVX
$382B
| $5.08M | 0.48% |
42,855
+12,244
| +40% | +$1.49M |
|
|
AZPN
49
DELISTED
ASPEN TECHNOLOGY INC
AZPN
| $5.06M | 0.48% |
41,120
+21,511
| +110% | +$2.65M |
|
|
UMPQ
50
DELISTED
Umpqua Holdings Corp
UMPQ
| $5.06M | 0.48% |
307,302
+107,559
| +54% | +$1.77M |
|
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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.