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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
+7.04%
1 Year Est. Return
+24.2%
3 Year Est. Return
+90.61%
5 Year Est. Return
+144.35%
10 Year Est. Return
–
AUM
$4.5B
AUM Growth
-$839M
(-16%)
Cap. Flow
-$1.12B
Cap. Flow
% of AUM
-24.8%
Top 10 Holdings %
Top 10 Hldgs %
18.15%
Holding
911
New
148
Increased
142
Reduced
263
Closed
81
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Adobe
ADBE
|
+$28.3M |
| 2 |
Nike
NKE
|
+$27.5M |
| 3 |
Texas Instruments
TXN
|
+$27.4M |
| 4 |
Intuit
INTU
|
+$23.3M |
| 5 |
ConocoPhillips
COP
|
+$23.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$46M |
| 2 |
Boeing
BA
|
+$40.7M |
| 3 |
AbbVie
ABBV
|
+$33.8M |
| 4 |
Synopsys
SNPS
|
+$29M |
| 5 |
Amazon
AMZN
|
+$28.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 17.99% |
| 2 | Financials | 14.07% |
| 3 | Healthcare | 11.61% |
| 4 | Consumer Discretionary | 10.64% |
| 5 | Industrials | 10.24% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Vanguard Real Estate ETF
VNQ
$39.9B
| $198M | 4.41% |
2,458,486
| – | – |
|
|
2
Apple
AAPL
$4.97T
| $129M | 2.86% |
2,277,916
-884,016
| -28% | -$46M |
|
3
Microsoft
MSFT
$2.9T
| $112M | 2.49% |
977,146
-128,593
| -12% | -$13.9M |
|
|
4
Amazon
AMZN
$2.44T
| $91.9M | 2.04% |
917,780
-302,780
| -25% | -$28.5M |
|
5
UnitedHealth
UNH
$382B
| $58.1M | 1.29% |
218,453
-80,726
| -27% | -$21M |
|
6
Alphabet (Google) Class C
GOOG
$4.11T
| $49.7M | 1.11% |
833,520
-254,740
| -23% | -$15.3M |
|
|
7
Alphabet (Google) Class A
GOOGL
$4.12T
| $49.7M | 1.11% |
823,420
-252,720
| -23% | -$15.3M |
|
8
Meta Platforms (Facebook)
META
$1.49T
| $47.9M | 1.06% |
291,144
-91,384
| -24% | -$16.5M |
|
9
Pfizer
PFE
$143B
| $42.3M | 0.94% |
1,011,339
+11,794
| +1% | +$454K |
|
10
Biogen
BIIB
$30.9B
| $38.1M | 0.85% |
107,970
-41,563
| -28% | -$14.3M |
|
11
JPMorgan Chase
JPM
$916B
| $38.1M | 0.85% |
338,057
-112,547
| -25% | -$12.8M |
|
12
Berkshire Hathaway Class B
BRK.B
$1.1T
| $37.7M | 0.84% |
176,008
-49,694
| -22% | -$10.2M |
|
13
Ross Stores
ROST
$80.8B
| $35.9M | 0.8% |
361,915
-125,027
| -26% | -$11.5M |
|
14
Mastercard
MA
$498B
| $34.8M | 0.77% |
156,360
-49,119
| -24% | -$10.2M |
|
|
15
Adobe
ADBE
$105B
| $30.8M | 0.69% |
114,119
+109,619
| +2,436% | +$28.3M |
|
16
Visa
V
$701B
| $29.8M | 0.66% |
198,332
-18,611
| -9% | -$2.65M |
|
|
17
Nike
NKE
$64.1B
| $29.5M | 0.66% |
347,681
+341,781
| +5,793% | +$27.5M |
|
18
TJX Companies
TJX
$179B
| $29.3M | 0.65% |
523,286
-216,614
| -29% | -$11.1M |
|
19
Southwest Airlines
LUV
$21.7B
| $29.1M | 0.65% |
465,472
+2,623
| +0.6% | +$153K |
|
20
Micron Technology
MU
$835B
| $28.8M | 0.64% |
635,709
-180,192
| -22% | -$9.09M |
|
21
Marathon Petroleum
MPC
$90.1B
| $28.7M | 0.64% |
358,614
-187,212
| -34% | -$14.8M |
|
|
22
Texas Instruments
TXN
$248B
| $28.6M | 0.64% |
266,431
+246,130
| +1,212% | +$27.4M |
|
23
Accenture
ACN
$106B
| $28.2M | 0.63% |
165,771
-73,561
| -31% | -$12.2M |
|
24
Zoetis
ZTS
$32.7B
| $28.2M | 0.63% |
307,800
-155,961
| -34% | -$13.8M |
|
25
Boston Scientific
BSX
$68.4B
| $28M | 0.62% |
728,370
-291,380
| -29% | -$10.2M |
|
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First Quadrant's Q3 2018 Portfolio in Review
As of Q3 2018, First Quadrant held 911 positions worth $4.5B, down 16% from $5.34B the previous quarter. Its ten largest holdings account for 18% of the portfolio.
First Quadrant withdrew a net $1.12B in Q3 2018, closing 81 positions and reducing 263 holdings. Its most notable exit was Hilton Grand Vacations, an estimated $22.4M position sold in full.
By sector, the portfolio is most concentrated in Technology at 18% of assets, up from 18% a quarter earlier, followed by Financials and Healthcare.
Against the trend, First Quadrant opened a new position in UGI worth $21.9M.
- First Quadrant's largest Q3 2018 buy was UGI: 394,049 shares worth $21.9M.
- First Quadrant added most to Adobe in Q3 2018, an estimated $28.3M increase.
- First Quadrant's biggest Q3 2018 reduction was Apple, cutting an estimated $46M.
- First Quadrant fully exited Hilton Grand Vacations in Q3 2018, selling an estimated $22.4M.
- First Quadrant's ten largest holdings make up 18% of its $4.5B portfolio in Q3 2018.
- First Quadrant opened 148 new positions and closed 81 in Q3 2018.
- First Quadrant's portfolio value fell 16% quarter-over-quarter to $4.5B.
Based on First Quadrant's 13F filing for Q3 2018, filed 23 Oct 2018.