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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 | |
|---|---|---|---|---|---|---|
601
Flex
FLEX
$37.7B
| $135K | 0.01% |
23,459
+21,630
| +1,183% | +$151K |
|
602
Marriott International
MAR
$100B
| $134K | 0.01% |
1,236
| – | – |
|
603
Best Buy
BBY
$19B
| $133K | 0.01% |
2,515
| – | – |
|
604
Weis Markets
WMK
$1.92B
| $133K | 0.01% |
2,780
-10,729
| -79% | -$486K |
|
605
AtriCure
ATRC
$2.08B
| $132K | 0.01% |
+4,326
| New | +$135K |
|
|
ACOR
606
DELISTED
Acorda Therapeutics
ACOR
| $131K | 0.01% |
70
-53
| -43% | -$115K |
|
607
CNO Financial Group
CNO
$4.94B
| $129K | 0.01% |
8,700
| – | – |
|
608
Cognizant
CTSH
$25.2B
| $129K | 0.01% |
2,026
-255,376
| -99% | -$17.8M |
|
609
Myriad Genetics
MYGN
$476M
| $129K | 0.01% |
4,441
+80
| +2% | +$2.88K |
|
610
Old Second Bancorp
OSBC
$1.29B
| $129K | 0.01% |
9,913
-12,414
| -56% | -$176K |
|
|
ACR
611
ACRES Commercial Realty
ACR
$130M
| $128K | 0.01% |
4,258
| – | – |
|
612
American Electric Power
AEP
$70.4B
| $127K | 0.01% |
1,700
| – | – |
|
|
TEN
613
DELISTED
Tenneco Inc. Class A Voting Common Stock
TEN
| $127K | 0.01% |
4,635
-1,628
| -26% | -$54.5K |
|
|
OPTU
614
Optimum Communications Inc
OPTU
$298M
| $126K | 0.01% |
7,628
-6,900
| -47% | -$120K |
|
615
East-West Bancorp
EWBC
$17.8B
| $126K | 0.01% |
2,900
-204,901
| -99% | -$10.6M |
|
|
LMNX
616
DELISTED
Luminex Corp
LMNX
| $125K | 0.01% |
5,402
| – | – |
|
|
NUVA
617
DELISTED
NuVasive, Inc.
NUVA
| $123K | 0.01% |
+2,478
| New | +$149K |
|
618
Comfort Systems
FIX
$53.5B
| $120K | 0.01% |
2,743
-3,973
| -59% | -$203K |
|
619
Oil States International
OIS
$466M
| $120K | 0.01% |
8,400
| – | – |
|
620
Perdoceo Education
PRDO
$2.17B
| $119K | 0.01% |
10,463
-3,546
| -25% | -$47.1K |
|
|
TPIC
621
DELISTED
TPI Composites
TPIC
| $119K | 0.01% |
4,852
| – | – |
|
|
NEWR
622
DELISTED
New Relic, Inc.
NEWR
| $119K | 0.01% |
1,471
| – | – |
|
623
International Paper
IP
$22.6B
| $118K | 0.01% |
3,094
| – | – |
|
|
CIVI
624
DELISTED
Civitas Solutions, Inc.
CIVI
| $118K | 0.01% |
6,740
+907
| +16% | +$13.5K |
|
625
Bright Horizons
BFAM
$4.35B
| $117K | 0.01% |
1,053
-113,899
| -99% | -$13.1M |
|
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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.