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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
+144.39%
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 | 16.62% |
| 2 | Technology | 14.51% |
| 3 | Healthcare | 14.35% |
| 4 | Miscellaneous | 11.79% |
| 5 | Industrials | 11.29% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
526
APA Corp
APA
$16.6B
| $213K | 0.02% |
8,106
| – | – |
|
|
CHX
527
DELISTED
ChampionX
CHX
| $213K | 0.02% |
7,850
| – | – |
|
|
SRCL
528
DELISTED
Stericycle Inc
SRCL
| $213K | 0.02% |
5,800
| – | – |
|
529
Illumina
ILMN
$33.6B
| $210K | 0.02% |
721
+67
| +10% | +$20.8K |
|
|
WIRE
530
DELISTED
Encore Wire Corp
WIRE
| $209K | 0.02% |
4,163
| – | – |
|
|
AVNS
531
DELISTED
Avanos Medical
AVNS
| $208K | 0.02% |
4,645
+104
| +2% | +$5.45K |
|
532
Entravision Communication
EVC
$749M
| $203K | 0.02% |
69,899
-47,601
| -41% | -$186K |
|
533
McGrath RentCorp
MGRC
$2.71B
| $203K | 0.02% |
3,948
+2,394
| +154% | +$123K |
|
534
Telephone and Data Systems
TDS
$4.35B
| $202K | 0.02% |
6,200
-266,624
| -98% | -$8.84M |
|
|
HOS
535
Hornbeck Offshore Services, Inc.
HOS
$2.89B
| $201K | 0.02% |
37,242
+17,022
| +84% | +$139K |
|
|
PSDO
536
DELISTED
Presidio, Inc. Common Stock
PSDO
| $200K | 0.02% |
+15,301
| New | +$212K |
|
537
Ingevity
NGVT
$2.33B
| $198K | 0.02% |
2,364
-2,435
| -51% | -$220K |
|
538
Axalta
AXTA
$7.12B
| $197K | 0.02% |
8,400
+4,300
| +105% | +$107K |
|
539
Marcus Corp
MCS
$843M
| $197K | 0.02% |
+4,979
| New | +$206K |
|
|
RYZ
540
Ryerson Holding Corp
RYZ
$1.27B
| $197K | 0.02% |
31,100
| – | – |
|
541
SPS Commerce
SPSC
$2.95B
| $196K | 0.02% |
4,754
+1,708
| +56% | +$74.5K |
|
542
HNI Corp
HNI
$3.32B
| $194K | 0.02% |
+5,484
| New | +$208K |
|
543
Welltower
WELL
$168B
| $194K | 0.02% |
+2,800
| New | +$190K |
|
|
EXTN
544
DELISTED
Exterran Corporation
EXTN
| $192K | 0.02% |
10,863
+3,463
| +47% | +$77.7K |
|
545
DaVita
DVA
$12.2B
| $190K | 0.02% |
3,700
| – | – |
|
546
ServiceNow
NOW
$147B
| $190K | 0.02% |
5,325
-60,465
| -92% | -$2.15M |
|
|
SEM
547
DELISTED
Select Medical
SEM
| $189K | 0.02% |
22,844
| – | – |
|
548
Standard Motor Products
SMP
$839M
| $189K | 0.02% |
3,900
| – | – |
|
549
Gray Television
GTN
$492M
| $188K | 0.02% |
+12,746
| New | +$221K |
|
550
Jabil
JBL
$31B
| $188K | 0.02% |
7,594
| – | – |
|
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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 17% 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.