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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
+3.45%
1 Year Est. Return
+24.2%
3 Year Est. Return
+90.61%
5 Year Est. Return
+144.35%
10 Year Est. Return
–
AUM
$1.06B
AUM Growth
-$377M
(-26%)
Cap. Flow
-$409M
Cap. Flow
% of AUM
-38.51%
Top 10 Holdings %
Top 10 Hldgs %
27.28%
Holding
733
New
39
Increased
98
Reduced
269
Closed
154
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Sunstone Hotel Investors
SHO
|
+$7.98M |
| 2 |
Idacorp
IDA
|
+$7.48M |
| 3 |
First Industrial Realty Trust
FR
|
+$6.91M |
| 4 |
Essent Group
ESNT
|
+$6.26M |
| 5 |
eBay
EBAY
|
+$6.05M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard Real Estate ETF
VNQ
|
+$32.9M |
| 2 |
Mastercard
MA
|
+$16.9M |
| 3 |
Thermo Fisher Scientific
TMO
|
+$11.9M |
| 4 |
Microsoft
MSFT
|
+$11.2M |
| 5 |
JPMorgan Chase
JPM
|
+$10.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 14.95% |
| 2 | Technology | 14.15% |
| 3 | Consumer Discretionary | 10.75% |
| 4 | Healthcare | 10.26% |
| 5 | Industrials | 8.26% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Vanguard Real Estate ETF
VNQ
$39.9B
| $125M | 11.73% |
1,336,036
-362,591
| -21% | -$32.9M |
|
|
2
Microsoft
MSFT
$2.9T
| $32M | 3.02% |
230,526
-81,385
| -26% | -$11.2M |
|
3
Apple
AAPL
$4.97T
| $27.8M | 2.62% |
496,724
-105,404
| -18% | -$5.51M |
|
4
Amazon
AMZN
$2.44T
| $20.8M | 1.95% |
239,160
-16,580
| -6% | -$1.54M |
|
5
Visa
V
$701B
| $17.1M | 1.61% |
99,438
-24,714
| -20% | -$4.4M |
|
6
Meta Platforms (Facebook)
META
$1.49T
| $14.9M | 1.41% |
83,855
-3,233
| -4% | -$615K |
|
7
Vanguard Global ex-US Real Estate ETF
VNQI
$3.51B
| $14.5M | 1.36% |
247,349
-38,600
| -13% | -$2.25M |
|
8
Alphabet (Google) Class C
GOOG
$4.11T
| $13.3M | 1.25% |
218,000
-85,740
| -28% | -$5.07M |
|
|
9
Alphabet (Google) Class A
GOOGL
$4.12T
| $13M | 1.23% |
213,580
-71,060
| -25% | -$4.21M |
|
10
US Foods
USFD
$22.5B
| $11.7M | 1.1% |
285,161
+124,449
| +77% | +$4.8M |
|
|
11
Sunstone Hotel Investors
SHO
$2.19B
| $10.8M | 1.01% |
783,764
+594,686
| +315% | +$7.98M |
|
12
Biogen
BIIB
$30.9B
| $10.7M | 1% |
45,840
+3,646
| +9% | +$849K |
|
13
First American
FAF
$7.98B
| $10.6M | 1% |
179,398
+96,069
| +115% | +$5.5M |
|
14
OGE Energy
OGE
$9.86B
| $10.2M | 0.96% |
224,247
-66,533
| -23% | -$2.88M |
|
|
15
Essent Group
ESNT
$6.28B
| $10.1M | 0.95% |
211,878
+130,908
| +162% | +$6.26M |
|
16
Performance Food Group
PFGC
$18.3B
| $9.88M | 0.93% |
214,679
+36,560
| +21% | +$1.62M |
|
|
17
Idacorp
IDA
$8B
| $9.28M | 0.87% |
82,374
+70,241
| +579% | +$7.48M |
|
|
18
eBay
EBAY
$51.2B
| $9.01M | 0.85% |
231,195
+150,769
| +187% | +$6.05M |
|
|
19
JPMorgan Chase
JPM
$916B
| $8.46M | 0.8% |
71,848
-92,113
| -56% | -$10.4M |
|
20
Silgan Holdings
SLGN
$4.51B
| $8.44M | 0.79% |
281,137
+129,930
| +86% | +$3.92M |
|
21
SEI Investments
SEIC
$12.3B
| $8.36M | 0.79% |
141,006
+49,456
| +54% | +$2.86M |
|
|
22
First Industrial Realty Trust
FR
$8.66B
| $8.29M | 0.78% |
209,560
+180,272
| +616% | +$6.91M |
|
|
ATVI
23
DELISTED
Activision Blizzard
ATVI
| $7.68M | 0.72% |
145,081
+5,118
| +4% | +$255K |
|
24
Allison Transmission
ALSN
$9.51B
| $7.15M | 0.67% |
151,965
+20,310
| +15% | +$921K |
|
25
VeriSign
VRSN
$26.3B
| $7.1M | 0.67% |
37,645
+17,080
| +83% | +$3.51M |
|
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First Quadrant's Q3 2019 Portfolio in Review
As of Q3 2019, First Quadrant held 733 positions worth $1.06B, down 26% from $1.44B the previous quarter. Its ten largest holdings account for 27% of the portfolio.
First Quadrant withdrew a net $409M in Q3 2019, closing 154 positions and reducing 269 holdings. Its most notable exit was Thermo Fisher Scientific, an estimated $11.9M position sold in full.
By sector, the portfolio is most concentrated in Financials at 15% of assets, down from 16% a quarter earlier, followed by Technology and Consumer Discretionary.
Against the trend, First Quadrant opened a new position in Avient worth $5.75M.
- First Quadrant's largest Q3 2019 buy was Avient: 176,119 shares worth $5.75M.
- First Quadrant added most to Sunstone Hotel Investors in Q3 2019, an estimated $7.98M increase.
- First Quadrant's biggest Q3 2019 reduction was Vanguard Real Estate ETF, cutting an estimated $32.9M.
- First Quadrant fully exited Thermo Fisher Scientific in Q3 2019, selling an estimated $11.9M.
- First Quadrant's ten largest holdings make up 27% of its $1.06B portfolio in Q3 2019.
- First Quadrant opened 39 new positions and closed 154 in Q3 2019.
- First Quadrant's portfolio value fell 26% quarter-over-quarter to $1.06B.
Based on First Quadrant's 13F filing for Q3 2019, filed 25 Oct 2019.