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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
+144.39%
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 | 16.62% |
| 2 | Technology | 14.51% |
| 3 | Healthcare | 14.35% |
| 4 | Miscellaneous | 11.79% |
| 5 | Industrials | 11.29% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
826
Groupon
GRPN
$762M
| – | – |
-349
| Closed | -$26K |
|
|
HI
827
DELISTED
Hillenbrand
HI
| – | – |
-16,578
| Closed | -$867K |
|
828
Highwoods Properties
HIW
$3.39B
| – | – |
-351,237
| Closed | -$16.6M |
|
829
Hewlett Packard
HPE
$74.2B
| – | – |
-1,049,571
| Closed | -$17.1M |
|
|
HPP
830
Hudson Pacific Properties
HPP
$621M
| – | – |
-3,102
| Closed | -$711K |
|
831
Huntsman Corp
HUN
$1.62B
| – | – |
-569,253
| Closed | -$15.5M |
|
832
IDEX
IEX
$16.4B
| – | – |
-37,218
| Closed | -$5.61M |
|
833
Immersion
IMMR
$237M
| – | – |
-5,962
| Closed | -$63K |
|
834
Ingersoll Rand
IR
$27.9B
| – | – |
-242,065
| Closed | -$6.86M |
|
835
JB Hunt Transport Services
JBHT
$25.6B
| – | – |
-17,086
| Closed | -$2.03M |
|
836
Jones Lang LaSalle
JLL
$15.7B
| – | – |
-75,724
| Closed | -$10.9M |
|
837
Korn Ferry
KFY
$4.25B
| – | – |
-3,528
| Closed | -$174K |
|
838
KLA
KLAC
$220B
| – | – |
-20,290
| Closed | -$206K |
|
839
Lazard
LAZ
$3.76B
| – | – |
-349,914
| Closed | -$16.8M |
|
840
Grand Canyon Education
LOPE
$4B
| – | – |
-122,090
| Closed | -$13.8M |
|
841
MKS Inc
MKSI
$15.7B
| – | – |
-63,151
| Closed | -$5.06M |
|
842
MSCI
MSCI
$39.6B
| – | – |
-10,476
| Closed | -$1.86M |
|
843
MSC Industrial Direct
MSM
$6.69B
| – | – |
-16,462
| Closed | -$1.45M |
|
844
Vitamin Cottage Natural Grocers
NGVC
$665M
| – | – |
-6,202
| Closed | -$105K |
|
845
NVR
NVR
$16.7B
| – | – |
-98
| Closed | -$242K |
|
846
O-I Glass
OI
$974M
| – | – |
-149,445
| Closed | -$2.81M |
|
847
Par Pacific Holdings
PARR
$4.19B
| – | – |
-6,428
| Closed | -$131K |
|
848
Paychex
PAYX
$42.1B
| – | – |
-56,772
| Closed | -$4.18M |
|
|
PDM
849
Piedmont Realty Trust
PDM
$1.19B
| – | – |
-243,841
| Closed | -$4.62M |
|
850
PENN Entertainment
PENN
$2.38B
| – | – |
-22,666
| Closed | -$746K |
|
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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 17% 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.