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First Quadrant Portfolio holdings
AUM
$18M
Turnover
89.22%
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
+144.39%
10 Year Est. Return
–
AUM
$4.5B
AUM Growth
-$839M
(-16%)
Cap. Flow
-$1.12B
Cap. Flow % of AUM
Cap. Flow %
-24.8%
Top 10 Holdings %
Top 10 Hldgs %
18.15%
Holding
911
New
148
Increased
142
Reduced
263
Closed
81
Avg Time Held
2.5
years
Top 10 Avg Time Held
1.5
years
Top 20 Avg Time Held
1.5
years
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 | 18.84% |
| 2 | Financials | 14.37% |
| 3 | Healthcare | 12.53% |
| 4 | Consumer Discretionary | 10.66% |
| 5 | Industrials | 10.25% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Vanguard Real Estate ETF
VNQ
$37.7B
| $198M | 4.41% |
2,458,486
| – | – |
2017 Q2
5 quarters
|
|
|
2
Apple
AAPL
$5.03T
| $129M | 2.86% |
2,277,916
-884,016
| -28% | -$46M |
2013 Q2
21 quarters
|
|
3
Microsoft
MSFT
$3.88T
| $112M | 2.49% |
977,146
-128,593
| -12% | -$13.9M |
2013 Q2
21 quarters
|
|
|
4
Amazon
AMZN
$2.6T
| $91.9M | 2.04% |
917,780
-302,780
| -25% | -$28.5M |
2013 Q2
21 quarters
|
|
5
UnitedHealth
UNH
$365B
| $58.1M | 1.29% |
218,453
-80,726
| -27% | -$21M |
2013 Q2
21 quarters
|
|
6
Alphabet (Google) Class C
GOOG
$3.42T
| $49.7M | 1.11% |
833,520
-254,740
| -23% | -$15.3M |
2013 Q2
21 quarters
|
|
7
Alphabet (Google) Class A
GOOGL
$3.44T
| $49.7M | 1.11% |
823,420
-252,720
| -23% | -$15.3M |
2015 Q4
11 quarters
|
|
8
Meta Platforms (Facebook)
META
$1.6T
| $47.9M | 1.06% |
291,144
-91,384
| -24% | -$16.5M |
2013 Q3
20 quarters
|
|
9
Pfizer
PFE
$174B
| $42.3M | 0.94% |
1,011,339
+11,794
| +1% | +$454K |
2013 Q2
21 quarters
|
|
10
Biogen
BIIB
$37.5B
| $38.1M | 0.85% |
107,970
-41,563
| -28% | -$14.3M |
2013 Q2
21 quarters
|
|
11
JPMorgan Chase
JPM
$895B
| $38.1M | 0.85% |
338,057
-112,547
| -25% | -$12.8M |
2013 Q2
21 quarters
|
|
12
Berkshire Hathaway Class B
BRK.B
$1.16T
| $37.7M | 0.84% |
176,008
-49,694
| -22% | -$10.2M |
2013 Q2
21 quarters
|
|
13
Ross Stores
ROST
$72.9B
| $35.9M | 0.8% |
361,915
-125,027
| -26% | -$11.5M |
2013 Q2
21 quarters
|
|
14
Mastercard
MA
$556B
| $34.8M | 0.77% |
156,360
-49,119
| -24% | -$10.2M |
2013 Q2
21 quarters
|
|
|
15
Adobe
ADBE
$97.4B
| $30.8M | 0.69% |
114,119
+109,619
| +2,436% | +$28.3M |
2013 Q2
21 quarters
|
|
16
Visa
V
$773B
| $29.8M | 0.66% |
198,332
-18,611
| -9% | -$2.65M |
2013 Q2
21 quarters
|
|
|
17
Nike
NKE
$57.4B
| $29.5M | 0.66% |
347,681
+341,781
| +5,793% | +$27.5M |
2016 Q2
9 quarters
|
|
18
TJX Companies
TJX
$154B
| $29.3M | 0.65% |
523,286
-216,614
| -29% | -$11.1M |
2013 Q2
21 quarters
|
|
19
Southwest Airlines
LUV
$20.8B
| $29.1M | 0.65% |
465,472
+2,623
| +0.6% | +$153K |
2013 Q2
21 quarters
|
|
20
Micron Technology
MU
$1T
| $28.8M | 0.64% |
635,709
-180,192
| -22% | -$9.09M |
2017 Q4
3 quarters
|
|
21
Marathon Petroleum
MPC
$125B
| $28.7M | 0.64% |
358,614
-187,212
| -34% | -$14.8M |
2013 Q2
21 quarters
|
|
|
22
Texas Instruments
TXN
$275B
| $28.6M | 0.64% |
266,431
+246,130
| +1,212% | +$27.4M |
2013 Q2
21 quarters
|
|
23
Accenture
ACN
$158B
| $28.2M | 0.63% |
165,771
-73,561
| -31% | -$12.2M |
2018 Q2
1 quarter
|
|
24
Zoetis
ZTS
$32.9B
| $28.2M | 0.63% |
307,800
-155,961
| -34% | -$13.8M |
2014 Q2
17 quarters
|
|
25
Boston Scientific
BSX
$60.8B
| $28M | 0.62% |
728,370
-291,380
| -29% | -$10.2M |
2016 Q1
10 quarters
|
|
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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 19% of assets, up from 19% 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.