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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 | |
|---|---|---|---|---|---|---|
126
McDonald's
MCD
$193B
| $2.2M | 0.18% |
12,400
| – | – |
|
127
Texas Instruments
TXN
$248B
| $2.16M | 0.17% |
22,864
-243,567
| -91% | -$23.6M |
|
128
Intuitive Surgical
ISRG
$127B
| $2.15M | 0.17% |
13,500
| – | – |
|
129
Sunstone Hotel Investors
SHO
$2.19B
| $2.12M | 0.17% |
163,291
+46,144
| +39% | +$679K |
|
|
RTEC
130
DELISTED
Rudolph Technologies Inc
RTEC
| $2.1M | 0.17% |
102,592
-9,137
| -8% | -$185K |
|
131
F5
FFIV
$22B
| $2.06M | 0.17% |
12,729
-123,658
| -91% | -$21.2M |
|
132
Boston Scientific
BSX
$68.4B
| $2.05M | 0.16% |
57,883
-670,487
| -92% | -$24.3M |
|
133
Travelers Companies
TRV
$81.1B
| $2.03M | 0.16% |
16,967
| – | – |
|
134
Marcus & Millichap
MMI
$1.2B
| $2.02M | 0.16% |
58,961
-14,945
| -20% | -$512K |
|
135
AMC Global Media
AMCX
$450M
| $2.01M | 0.16% |
36,661
| – | – |
|
136
ePlus
PLUS
$2.43B
| $1.98M | 0.16% |
55,720
-11,716
| -17% | -$472K |
|
|
FISV
137
Fiserv Inc
FISV
$29.7B
| $1.94M | 0.16% |
26,454
-263,783
| -91% | -$20.4M |
|
|
QVCGA
138
DELISTED
QVC Group Inc Series A
QVCGA
| $1.92M | 0.15% |
2,024
| – | – |
|
139
Crocs
CROX
$6.63B
| $1.89M | 0.15% |
72,912
-22,603
| -24% | -$529K |
|
|
VAR
140
DELISTED
Varian Medical Systems, Inc.
VAR
| $1.89M | 0.15% |
16,700
| – | – |
|
141
Exponent
EXPO
$3.19B
| $1.88M | 0.15% |
36,986
| – | – |
|
142
Maximus
MMS
$3.32B
| $1.87M | 0.15% |
28,688
-272,019
| -90% | -$17.9M |
|
143
Abbott
ABT
$187B
| $1.85M | 0.15% |
25,603
-2,563
| -9% | -$180K |
|
144
Energizer
ENR
$1.47B
| $1.85M | 0.15% |
41,001
| – | – |
|
145
Nu Skin
NUS
$257M
| $1.85M | 0.15% |
30,162
| – | – |
|
146
Charter Communications
CHTR
$17.3B
| $1.85M | 0.15% |
6,489
| – | – |
|
147
US Foods
USFD
$22.5B
| $1.85M | 0.15% |
58,406
-591,119
| -91% | -$18.2M |
|
|
AXE
148
DELISTED
Anixter International Inc
AXE
| $1.85M | 0.15% |
33,983
| – | – |
|
149
Advance Auto Parts
AAP
$3.53B
| $1.83M | 0.15% |
11,633
| – | – |
|
150
Viatris
VTRS
$20.8B
| $1.83M | 0.15% |
66,796
| – | – |
|
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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.