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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 | |
|---|---|---|---|---|---|---|
801
Arista Networks
ANET
$199B
| – | – |
-5,584
| Closed | -$93K |
|
802
Associated Banc-Corp
ASB
$5.8B
| – | – |
-222
| Closed | -$6K |
|
|
EFOR
803
Everforth Inc
EFOR
$960M
| – | – |
-71,215
| Closed | -$5.62M |
|
804
Avient
AVNT
$3.29B
| – | – |
-2,017
| Closed | -$88K |
|
805
Boise Cascade
BCC
$2.73B
| – | – |
-10,010
| Closed | -$368K |
|
806
Bruker
BRKR
$9.4B
| – | – |
-354,854
| Closed | -$11.9M |
|
807
Brixmor Property Group
BRX
$9.72B
| – | – |
-131,120
| Closed | -$2.3M |
|
808
Cal-Maine
CALM
$4.43B
| – | – |
-3,333
| Closed | -$161K |
|
809
Commerce Bancshares
CBSH
$8.68B
| – | – |
-450,089
| Closed | -$20.1M |
|
810
Cerus
CERS
$575M
| – | – |
-15,523
| Closed | -$112K |
|
811
Cullen/Frost Bankers
CFR
$10.5B
| – | – |
-20,383
| Closed | -$2.13M |
|
812
Columbia Sportswear
COLM
$3.25B
| – | – |
-20,020
| Closed | -$1.86M |
|
813
Copa Holdings
CPA
$5.56B
| – | – |
-107,379
| Closed | -$8.57M |
|
814
Cooper-Standard Automotive
CPS
$517M
| – | – |
-2,775
| Closed | -$333K |
|
815
Cavco Industries
CVCO
$4.36B
| – | – |
-387
| Closed | -$98K |
|
816
Curtiss-Wright
CW
$25.1B
| – | – |
-3,728
| Closed | -$512K |
|
817
Douglas Emmett
DEI
$2.05B
| – | – |
-86,379
| Closed | -$3.26M |
|
818
Eastman Chemical
EMN
$7.69B
| – | – |
-163,005
| Closed | -$15.6M |
|
819
Evercore
EVR
$11.8B
| – | – |
-108,610
| Closed | -$10.9M |
|
820
First Citizens BancShares
FCNCA
$24.7B
| – | – |
-363
| Closed | -$164K |
|
821
Fair Isaac
FICO
$31.8B
| – | – |
-32,038
| Closed | -$7.32M |
|
|
FL
822
DELISTED
Foot Locker
FL
| – | – |
-66,668
| Closed | -$3.4M |
|
823
Fidelity National Financial
FNF
$14.4B
| – | – |
-53,304
| Closed | -$2.02M |
|
824
The GEO Group
GEO
$4B
| – | – |
-1,015
| Closed | -$26K |
|
825
Graco
GGG
$13.2B
| – | – |
-388,455
| Closed | -$18M |
|
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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.