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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 | |
|---|---|---|---|---|---|---|
51
Starbucks
SBUX
$119B
| $5.1M | 0.41% |
79,200
| – | – |
|
52
Globe Life
GL
$14B
| $4.91M | 0.4% |
65,925
-216,704
| -77% | -$18M |
|
53
Micron Technology
MU
$835B
| $4.84M | 0.39% |
152,516
-483,193
| -76% | -$18.3M |
|
54
Intel
INTC
$413B
| $4.83M | 0.39% |
102,952
-309,243
| -75% | -$14.5M |
|
55
Brown & Brown
BRO
$25.1B
| $4.83M | 0.39% |
175,282
-610,253
| -78% | -$17.3M |
|
56
Unifirst Corp
UNF
$5.45B
| $4.76M | 0.38% |
33,271
| – | – |
|
|
TFCFA
57
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $4.66M | 0.37% |
96,744
| – | – |
|
58
Landstar System
LSTR
$6.03B
| $4.65M | 0.37% |
48,563
| – | – |
|
59
Equity Lifestyle Properties
ELS
$13.1B
| $4.6M | 0.37% |
94,640
-388,028
| -80% | -$18.8M |
|
60
Clorox
CLX
$12B
| $4.42M | 0.36% |
28,696
| – | – |
|
61
AbbVie
ABBV
$465B
| $4.33M | 0.35% |
46,952
-569
| -1% | -$50K |
|
62
Huntington Ingalls Industries
HII
$11B
| $4.25M | 0.34% |
22,345
-4
| -0% | -$870 |
|
63
Synopsys
SNPS
$71.6B
| $4.22M | 0.34% |
50,100
-64,916
| -56% | -$5.77M |
|
64
Johnson & Johnson
JNJ
$640B
| $4.17M | 0.34% |
32,312
-116,639
| -78% | -$16.3M |
|
65
Phillips 66
PSX
$82.9B
| $3.98M | 0.32% |
46,157
-187,756
| -80% | -$18.3M |
|
66
US Bancorp
USB
$97.9B
| $3.92M | 0.32% |
85,800
| – | – |
|
67
Usana Health Sciences
USNA
$419M
| $3.88M | 0.31% |
32,948
+1,799
| +6% | +$208K |
|
|
PSB
68
DELISTED
PS Business Parks, Inc.
PSB
| $3.86M | 0.31% |
29,449
+6,382
| +28% | +$846K |
|
69
Steris
STE
$22.9B
| $3.7M | 0.3% |
34,604
| – | – |
|
|
ATVI
70
DELISTED
Activision Blizzard
ATVI
| $3.69M | 0.3% |
79,248
| – | – |
|
71
Allison Transmission
ALSN
$9.51B
| $3.67M | 0.3% |
83,468
-411,045
| -83% | -$19.1M |
|
72
Old Dominion Freight Line
ODFL
$46.3B
| $3.65M | 0.29% |
88,650
-138
| -0.2% | -$6.12K |
|
73
Lowe's Companies
LOW
$121B
| $3.65M | 0.29% |
39,491
-81,741
| -67% | -$7.88M |
|
|
WBA
74
DELISTED
Walgreens Boots Alliance
WBA
| $3.64M | 0.29% |
53,242
+4,713
| +10% | +$365K |
|
75
Verizon
VZ
$197B
| $3.62M | 0.29% |
64,312
-342,321
| -84% | -$19.4M |
|
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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.