First Quadrant Portfolio holdings

First Quadrant's Q4 2020 Portfolio in Review

As of Q4 2020, First Quadrant held 708 positions worth $1B, up 28% from $783M the previous quarter. Its ten largest holdings account for 47% of the portfolio.

First Quadrant deployed $113M of net new capital in Q4 2020, opening 93 new positions and adding to 83 existing holdings. Its largest new stake was iShares TIPS Bond ETF: 55,701 shares worth $7.11M.

By sector, the portfolio is most concentrated in Miscellaneous at 35% of assets, up from 23% a quarter earlier, followed by Technology and Consumer Discretionary.

On the sell side, the largest reduction was iShares Core S&P Total US Stock Market ETF, an estimated $3.44M trimmed.

• First Quadrant's largest Q4 2020 buy was iShares TIPS Bond ETF: 55,701 shares worth $7.11M.
• First Quadrant added most to iShares iBoxx $ High Yield Corporate Bond ETF in Q4 2020, an estimated $145M increase.
• First Quadrant's biggest Q4 2020 reduction was iShares Core S&P Total US Stock Market ETF, cutting an estimated $3.44M.
• First Quadrant fully exited Vanguard World Funds Extended Duration ETF in Q4 2020, selling an estimated $2.39M.
• First Quadrant's ten largest holdings make up 47% of its $1B portfolio in Q4 2020.
• First Quadrant opened 93 new positions and closed 133 in Q4 2020.
• First Quadrant's portfolio value rose 28% quarter-over-quarter to $1B.

Based on First Quadrant's 13F filing for Q4 2020, filed 27 Jan 2021.