First Quadrant Portfolio holdings

First Quadrant's Q2 2021 Portfolio in Review

As of Q2 2021, First Quadrant held 614 positions worth $871M, down 7.4% from $940M the previous quarter. Its ten largest holdings account for 40% of the portfolio.

First Quadrant withdrew a net $137M in Q2 2021, closing 105 positions and reducing 166 holdings. Its most notable exit was Brown & Brown, an estimated $1.65M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 25% of assets, down from 28% a quarter earlier, followed by Technology and Consumer Discretionary.

Against the trend, First Quadrant opened a new position in Tvardi Therapeutics worth $1.02M.

• First Quadrant's largest Q2 2021 buy was Tvardi Therapeutics: 1,978 shares worth $1.02M.
• First Quadrant added most to ServiceNow in Q2 2021, an estimated $662K increase.
• First Quadrant's biggest Q2 2021 reduction was iShares iBoxx $ High Yield Corporate Bond ETF, cutting an estimated $49.7M.
• First Quadrant fully exited Brown & Brown in Q2 2021, selling an estimated $1.65M.
• First Quadrant's ten largest holdings make up 40% of its $871M portfolio in Q2 2021.
• First Quadrant opened 49 new positions and closed 105 in Q2 2021.
• First Quadrant's portfolio value fell 7.4% quarter-over-quarter to $871M.

Based on First Quadrant's 13F filing for Q2 2021, filed 23 Jul 2021.