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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
Cap. Flow
-$2.84B
Cap. Flow %
-229.02%
Top 10 Hldgs %
25.78%
Holding
912
New
82
Increased
112
Reduced
260
Closed
114

Top Buys

Rank Stock Value
1
CI icon
Cigna
CI
+$3.47M
2
CVS icon
CVS Health
CVS
+$2.91M
3
LXP icon
LXP Industrial Trust
LXP
+$1.42M
4
REXR icon
Rexford Industrial Realty
REXR
+$1.26M
5
CLDT
Chatham Lodging
CLDT
+$995K

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$79.7M
2
MSFT icon
Microsoft
MSFT
+$67.1M
3
VNQ icon
Vanguard Real Estate ETF
VNQ
+$55.2M
4
AMZN icon
Amazon
AMZN
+$55.1M
5
UNH icon
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
VTR icon
776
Ventas
VTR
$47.5B
$17K ﹤0.01%
293
– –
MRVL icon
777
Marvell Technology
MRVL
$147B
$16K ﹤0.01%
1,005
– –
XYZ
778
Block Inc
XYZ
$48.9B
$14K ﹤0.01%
245
– –
CBIO
779
Crescent Biopharma
CBIO
$546M
$12K ﹤0.01%
13
– –
SBRA icon
780
Sabra Healthcare REIT
SBRA
$5.56B
$12K ﹤0.01%
723
– –
UMPQ
781
DELISTED
Umpqua Holdings Corp
UMPQ
$12K ﹤0.01%
770
-572,045
-100% -$10.8M
CLUB
782
DELISTED
Town Sports International Holdings, Inc.
CLUB
$12K ﹤0.01%
1,805
– –
ADNT icon
783
Adient
ADNT
$1.69B
$11K ﹤0.01%
729
+328
+82% +$8.48K
AIV
784
Aimco
AIV
$377M
$11K ﹤0.01%
+1,884
New +$11.2K
LXU icon
785
LSB Industries
LXU
$824M
$10K ﹤0.01%
2,453
– –
NKTR icon
786
Nektar Therapeutics
NKTR
$2.39B
$10K ﹤0.01%
+20
New +$12.1K
APLE icon
787
Apple Hospitality REIT
APLE
$3.97B
$8K ﹤0.01%
582
-990,109
-100% -$15.7M
ROKU icon
788
Roku
ROKU
$21.6B
$8K ﹤0.01%
267
– –
EPE
789
DELISTED
EP Energy Corporation
EPE
$8K ﹤0.01%
10,800
– –
EVH icon
790
Evolent Health
EVH
$371M
$7K ﹤0.01%
370
– –
EXC icon
791
Exelon
EXC
$48.1B
$7K ﹤0.01%
+213
New +$6.81K
SPN
792
DELISTED
Superior Energy Services, Inc.
SPN
$7K ﹤0.01%
216
– –
RSG icon
793
Republic Services
RSG
$67.4B
$6K ﹤0.01%
86
-64,380
-100% -$4.71M
URBN icon
794
Urban Outfitters
URBN
$6.46B
$6K ﹤0.01%
190
-152
-44% -$5.68K
ARWR icon
795
Arrowhead Research
ARWR
$12.1B
$4K ﹤0.01%
+360
New +$4.92K
LLEX
796
DELISTED
Lilis Energy, Inc. Common Stock
LLEX
$4K ﹤0.01%
3,126
– –
AFG icon
797
American Financial Group
AFG
$11.9B
$3K ﹤0.01%
35
-149,644
-100% -$15M
HSY icon
798
Hershey
HSY
$37.3B
$2K ﹤0.01%
17
-151,221
-100% -$16.1M
AEO icon
799
American Eagle Outfitters
AEO
$2.94B
– –
-4,459
Closed -$111K
ALNT icon
800
Allient
ALNT
$1.34B
– –
-2,673
Closed -$97K
30 31
32
33 34

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BC
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SCM
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CFG
Claremont Financial Group Claremont, California $23.4M AUM
AG
Aravt Global New York $11.3M AUM 3.78% 1-Year Est. Return
YEPV
Yorktown Energy Partners V New York $5.41M AUM
WIA
Wealthstreet Investment Advisors Dallas, Texas $3.71M AUM 13.1% 1-Year Est. Return
LSM
Light Sky Macro New York $1.34M AUM
FFIM
Founders Fund IV Management San Francisco, California $1.21M AUM

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.