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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
NFX
901
DELISTED
Newfield Exploration
NFX
– –
-277,189
Closed -$7.99M
ATHN
902
DELISTED
Athenahealth, Inc.
ATHN
– –
-900
Closed -$120K
XOXO
903
DELISTED
Xo Group Inc
XOXO
– –
-34,233
Closed -$1.18M
ESRX
904
DELISTED
Express Scripts Holding Company
ESRX
– –
-68,405
Closed -$6.5M
ABCD
905
DELISTED
Cambium Learning Group, Inc.
ABCD
– –
-15,810
Closed -$187K
AET
906
DELISTED
Aetna Inc
AET
– –
-46,553
Closed -$9.44M
NWY
907
DELISTED
New York & Co Inc
NWY
– –
-7,792
Closed -$30K
KMG
908
DELISTED
KMG Chemicals Inc
KMG
– –
-718
Closed -$54K
ANDV
909
DELISTED
Andeavor
ANDV
– –
-51,899
Closed -$7.97M
HIBB
910
DELISTED
Hibbett, Inc. Common Stock
HIBB
– –
-274
Closed -$5K
YELL
911
DELISTED
Yellow Corporation Common Stock
YELL
– –
-4,288
Closed -$39K
CKH
912
DELISTED
Seacor Holdings Inc.
CKH
– –
-1,685
Closed -$83K
33 34 35 36
37

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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.