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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 | |
|---|---|---|---|---|---|---|
76
VeriSign
VRSN
$26.3B
| $3.59M | 0.29% |
24,239
| – | – |
|
|
CBPX
77
DELISTED
CONTINENTAL BUILDING PRODUCTS, INC.
CBPX
| $3.47M | 0.28% |
136,421
+19,093
| +16% | +$558K |
|
78
Zebra Technologies
ZBRA
$13.5B
| $3.45M | 0.28% |
21,639
| – | – |
|
79
Humana
HUM
$43.9B
| $3.44M | 0.28% |
12,008
-26,997
| -69% | -$8.56M |
|
80
Procter & Gamble
PG
$340B
| $3.42M | 0.28% |
37,201
-21,859
| -37% | -$1.95M |
|
81
Chevron
CVX
$382B
| $3.42M | 0.28% |
31,402
-36,966
| -54% | -$4.28M |
|
82
W&T Offshore
WTI
$525M
| $3.4M | 0.27% |
825,715
+981
| +0.1% | +$6.27K |
|
83
AGCO
AGCO
$8.41B
| $3.4M | 0.27% |
60,995
| – | – |
|
84
Merck
MRK
$322B
| $3.39M | 0.27% |
46,510
+11,240
| +32% | +$793K |
|
|
VG
85
DELISTED
Vonage Holdings Corporation
VG
| $3.36M | 0.27% |
384,424
+46,284
| +14% | +$530K |
|
|
CLGX
86
DELISTED
Corelogic, Inc.
CLGX
| $3.35M | 0.27% |
100,200
-113,725
| -53% | -$4.61M |
|
|
CELG
87
DELISTED
Celgene Corp
CELG
| $3.33M | 0.27% |
52,027
+1,072
| +2% | +$79.1K |
|
88
TJX Companies
TJX
$179B
| $3.31M | 0.27% |
74,102
-449,184
| -86% | -$22.7M |
|
89
Motorola Solutions
MSI
$72.1B
| $3.29M | 0.26% |
28,580
| – | – |
|
90
American Airlines Group
AAL
$9.82B
| $3.29M | 0.26% |
102,297
| – | – |
|
91
Align Technology
ALGN
$12.9B
| $3.23M | 0.26% |
15,400
| – | – |
|
92
ExxonMobil
XOM
$650B
| $3.22M | 0.26% |
47,217
-192,531
| -80% | -$15.1M |
|
93
Baxter International
BAX
$12.8B
| $3.21M | 0.26% |
48,800
| – | – |
|
94
NRG Energy
NRG
$26.2B
| $3.04M | 0.24% |
76,761
+4,176
| +6% | +$160K |
|
95
Allstate
ALL
$70.6B
| $3.02M | 0.24% |
36,501
+5,500
| +18% | +$494K |
|
96
Central Garden & Pet Co Class A
CENTA
$2.43B
| $2.99M | 0.24% |
119,510
| – | – |
|
97
Gilead Sciences
GILD
$165B
| $2.95M | 0.24% |
47,197
| – | – |
|
98
Portland General Electric
POR
$5.82B
| $2.94M | 0.24% |
64,226
-87,862
| -58% | -$4.12M |
|
99
Performance Food Group
PFGC
$18.3B
| $2.89M | 0.23% |
89,449
+8,481
| +10% | +$269K |
|
100
UGI
UGI
$7.87B
| $2.88M | 0.23% |
54,047
-340,002
| -86% | -$18.9M |
|
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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.