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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 | |
|---|---|---|---|---|---|---|
|
REGI
151
DELISTED
Renewable Energy Group, Inc.
REGI
| $1.83M | 0.15% |
71,033
+10,598
| +18% | +$286K |
|
152
Labcorp
LH
$25.2B
| $1.82M | 0.15% |
16,759
| – | – |
|
153
Philip Morris
PM
$309B
| $1.81M | 0.15% |
27,174
+855
| +3% | +$71.4K |
|
154
Emcor
EME
$29.9B
| $1.8M | 0.15% |
30,215
-225,116
| -88% | -$15.6M |
|
|
MNK
155
DELISTED
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
| $1.79M | 0.14% |
113,307
+7,771
| +7% | +$194K |
|
156
Ciena
CIEN
$46.8B
| $1.78M | 0.14% |
52,507
+29,102
| +124% | +$922K |
|
157
PayPal
PYPL
$50.3B
| $1.77M | 0.14% |
21,100
| – | – |
|
158
Cisco
CSCO
$443B
| $1.77M | 0.14% |
40,760
-50,684
| -55% | -$2.32M |
|
159
Evertec
EVTC
$1.97B
| $1.75M | 0.14% |
61,028
-444
| -0.7% | -$11.6K |
|
160
CNA Financial
CNA
$14.9B
| $1.73M | 0.14% |
39,132
-44,687
| -53% | -$2.01M |
|
|
CBM
161
DELISTED
Cambrex Corporation
CBM
| $1.68M | 0.13% |
44,387
+269
| +0.6% | +$13.6K |
|
162
Progress Software
PRGS
$1.75B
| $1.67M | 0.13% |
47,030
+3,082
| +7% | +$103K |
|
163
AT&T
T
$164B
| $1.67M | 0.13% |
77,367
-826,553
| -91% | -$19.2M |
|
164
American Tower
AMT
$83.5B
| $1.66M | 0.13% |
10,505
+700
| +7% | +$109K |
|
165
Avnet
AVT
$6.86B
| $1.63M | 0.13% |
45,200
| – | – |
|
166
Houlihan Lokey
HLI
$9.72B
| $1.63M | 0.13% |
44,339
-3,846
| -8% | -$157K |
|
167
JetBlue
JBLU
$2.13B
| $1.62M | 0.13% |
100,988
-944,959
| -90% | -$16.5M |
|
168
IBM
IBM
$213B
| $1.61M | 0.13% |
14,811
| – | – |
|
169
Constellation Brands
STZ
$22.5B
| $1.61M | 0.13% |
10,000
| – | – |
|
170
Vistra
VST
$48.2B
| $1.6M | 0.13% |
69,918
| – | – |
|
171
Chipotle Mexican Grill
CMG
$43.9B
| $1.6M | 0.13% |
185,000
| – | – |
|
172
Essent Group
ESNT
$6.28B
| $1.57M | 0.13% |
45,816
-43,205
| -49% | -$1.65M |
|
|
NATI
173
DELISTED
National Instruments Corp
NATI
| $1.56M | 0.13% |
34,329
-232,520
| -87% | -$10.9M |
|
174
LyondellBasell Industries
LYB
$19.5B
| $1.56M | 0.13% |
18,717
-220,078
| -92% | -$20.1M |
|
175
First Solar
FSLR
$21.4B
| $1.55M | 0.13% |
36,635
| – | – |
|
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FFIM
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.