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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 | |
|---|---|---|---|---|---|---|
176
United Airlines
UAL
$38.8B
| $1.51M | 0.12% |
18,085
+3,510
| +24% | +$308K |
|
177
Packaging Corp of America
PKG
$22.2B
| $1.51M | 0.12% |
18,100
| – | – |
|
178
Employers Holdings
EIG
$907M
| $1.49M | 0.12% |
35,486
+502
| +1% | +$22K |
|
179
Tyson Foods
TSN
$21.5B
| $1.49M | 0.12% |
27,889
-1,707
| -6% | -$100K |
|
|
FITB
180
Fifth Third Bancorp
FITB
$51.3B
| $1.48M | 0.12% |
62,914
| – | – |
|
181
Minerals Technologies
MTX
$2.29B
| $1.48M | 0.12% |
28,791
+2,312
| +9% | +$129K |
|
182
Louisiana-Pacific
LPX
$5.14B
| $1.43M | 0.12% |
64,449
-18,707
| -22% | -$424K |
|
183
Citigroup
C
$213B
| $1.43M | 0.11% |
27,419
-19,585
| -42% | -$1.24M |
|
|
AMED
184
DELISTED
Amedisys
AMED
| $1.42M | 0.11% |
12,116
+4,598
| +61% | +$542K |
|
|
185
LXP Industrial Trust
LXP
$3.52B
| $1.41M | 0.11% |
+34,392
| New | +$1.42M |
|
186
Central Garden & Pet Co
CENT
$2.76B
| $1.39M | 0.11% |
50,273
| – | – |
|
187
Signet Jewelers
SIG
$3.84B
| $1.37M | 0.11% |
43,233
-132,270
| -75% | -$6.63M |
|
|
UCB
188
United Community Banks
UCB
$4.26B
| $1.36M | 0.11% |
63,600
| – | – |
|
|
MGLN
189
DELISTED
Magellan Health Services, Inc.
MGLN
| $1.36M | 0.11% |
23,838
+91
| +0.4% | +$5.61K |
|
190
Delta Air Lines
DAL
$56.7B
| $1.35M | 0.11% |
27,030
| – | – |
|
191
Oneok
OKE
$56.7B
| $1.34M | 0.11% |
24,799
| – | – |
|
|
GHDX
192
DELISTED
Genomic Health, Inc.
GHDX
| $1.34M | 0.11% |
20,771
-312
| -1% | -$21.9K |
|
193
Asbury Automotive
ABG
$4.62B
| $1.33M | 0.11% |
19,948
-7,682
| -28% | -$505K |
|
194
Adobe
ADBE
$105B
| $1.33M | 0.11% |
5,860
-108,259
| -95% | -$26.1M |
|
195
Armstrong World Industries
AWI
$7.37B
| $1.32M | 0.11% |
22,708
-131,789
| -85% | -$8.42M |
|
196
Oshkosh
OSK
$8.82B
| $1.31M | 0.11% |
21,377
+77
| +0.4% | +$4.93K |
|
197
Expedia Group
EXPE
$36.5B
| $1.31M | 0.11% |
11,600
| – | – |
|
|
AD
198
Array Digital Infrastructure
AD
$3.04B
| $1.3M | 0.1% |
25,001
| – | – |
|
|
ABMD
199
DELISTED
Abiomed Inc
ABMD
| $1.3M | 0.1% |
3,990
| – | – |
|
200
HCA Healthcare
HCA
$88.4B
| $1.29M | 0.1% |
10,400
| – | – |
|
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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.