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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
-18.18%
1 Year Est. Return
+24.2%
3 Year Est. Return
+90.61%
5 Year Est. Return
+144.35%
10 Year Est. Return
–
AUM
$687M
AUM Growth
-$508M
(-43%)
Cap. Flow
-$296M
Cap. Flow
% of AUM
-43.04%
Top 10 Holdings %
Top 10 Hldgs %
24.56%
Holding
709
New
141
Increased
123
Reduced
198
Closed
74
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Robert Half
RHI
|
+$5.73M |
| 2 |
ProPetro Holding
PUMP
|
+$5.7M |
| 3 |
UnitedHealth
UNH
|
+$5.11M |
| 4 |
Eli Lilly
LLY
|
+$4.53M |
| 5 |
Mastercard
MA
|
+$4.48M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard Real Estate ETF
VNQ
|
+$203M |
| 2 |
Vanguard Global ex-US Real Estate ETF
VNQI
|
+$21.4M |
| 3 |
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
|
+$12.1M |
| 4 |
iShares TIPS Bond ETF
TIP
|
+$6.75M |
| 5 |
Silgan Holdings
SLGN
|
+$5.44M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 22.06% |
| 2 | Healthcare | 14.62% |
| 3 | Financials | 13.23% |
| 4 | Consumer Discretionary | 11.01% |
| 5 | Communication Services | 8.93% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Microsoft
MSFT
$3.35T
| $34.2M | 4.98% |
217,031
-12,009
| -5% | -$1.97M |
|
2
Apple
AAPL
$4.9T
| $30.9M | 4.5% |
486,236
-7,720
| -2% | -$568K |
|
3
Amazon
AMZN
$2.53T
| $23.8M | 3.46% |
244,100
+25,760
| +12% | +$2.49M |
|
4
Meta Platforms (Facebook)
META
$1.37T
| $14.9M | 2.17% |
89,452
+5,425
| +6% | +$1.06M |
|
5
Visa
V
$684B
| $14.1M | 2.06% |
87,737
-10,121
| -10% | -$1.91M |
|
6
Alphabet (Google) Class A
GOOGL
$4.08T
| $12.1M | 1.77% |
209,100
-1,860
| -0.9% | -$126K |
|
|
7
Alphabet (Google) Class C
GOOG
$4.08T
| $12.1M | 1.76% |
208,320
-9,320
| -4% | -$632K |
|
|
8
UnitedHealth
UNH
$383B
| $10.5M | 1.53% |
42,092
+18,581
| +79% | +$5.11M |
|
|
9
Mastercard
MA
$510B
| $8.66M | 1.26% |
35,844
+15,068
| +73% | +$4.48M |
|
10
Electronic Arts
EA
$52.9B
| $7.33M | 1.07% |
73,195
-18,180
| -20% | -$1.91M |
|
11
Biogen
BIIB
$30.7B
| $7.21M | 1.05% |
22,778
-9,800
| -30% | -$2.97M |
|
12
Intel
INTC
$460B
| $6.96M | 1.01% |
128,581
+15,143
| +13% | +$896K |
|
13
Gentex
GNTX
$5.03B
| $6.2M | 0.9% |
279,708
-5,630
| -2% | -$156K |
|
14
VeriSign
VRSN
$25.9B
| $6.09M | 0.89% |
33,807
-4,073
| -11% | -$801K |
|
15
Merck
MRK
$321B
| $5.71M | 0.83% |
77,813
+40,703
| +110% | +$3.2M |
|
16
OGE Energy
OGE
$9.76B
| $5.7M | 0.83% |
185,479
-49,308
| -21% | -$1.99M |
|
17
First American
FAF
$7.71B
| $5.65M | 0.82% |
133,288
-48,348
| -27% | -$2.76M |
|
18
Equity Lifestyle Properties
ELS
$12.7B
| $5.61M | 0.82% |
97,653
+10,806
| +12% | +$737K |
|
19
Chemed
CHE
$7.1B
| $5.54M | 0.81% |
12,780
-3,883
| -23% | -$1.73M |
|
20
Vertex Pharmaceuticals
VRTX
$122B
| $5.47M | 0.8% |
22,989
+11,368
| +98% | +$2.61M |
|
21
Amgen
AMGN
$209B
| $5.41M | 0.79% |
26,686
| – | – |
|
22
Adobe
ADBE
$98.5B
| $5.21M | 0.76% |
16,383
+12,383
| +310% | +$4.24M |
|
23
Berkshire Hathaway Class B
BRK.B
$1.1T
| $5.14M | 0.75% |
28,110
-1,500
| -5% | -$319K |
|
24
Oracle
ORCL
$367B
| $5.07M | 0.74% |
104,887
+19,045
| +22% | +$983K |
|
25
Sunstone Hotel Investors
SHO
$2.18B
| $4.83M | 0.7% |
554,607
-247,956
| -31% | -$2.88M |
|
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First Quadrant's Q1 2020 Portfolio in Review
As of Q1 2020, First Quadrant held 709 positions worth $687M, down 43% from $1.2B the previous quarter. Its ten largest holdings account for 25% of the portfolio.
First Quadrant withdrew a net $296M in Q1 2020, closing 74 positions and reducing 198 holdings. Its most notable exit was Vanguard Real Estate ETF, an estimated $203M position sold in full.
By sector, the portfolio is most concentrated in Technology at 22% of assets, up from 14% a quarter earlier, followed by Healthcare and Financials.
Against the trend, First Quadrant opened a new position in Robert Half worth $3.99M.
- First Quadrant's largest Q1 2020 buy was Robert Half: 105,786 shares worth $3.99M.
- First Quadrant added most to ProPetro Holding in Q1 2020, an estimated $5.7M increase.
- First Quadrant's biggest Q1 2020 reduction was iShares iBoxx $ High Yield Corporate Bond ETF, cutting an estimated $12.1M.
- First Quadrant fully exited Vanguard Real Estate ETF in Q1 2020, selling an estimated $203M.
- First Quadrant's ten largest holdings make up 25% of its $687M portfolio in Q1 2020.
- First Quadrant opened 141 new positions and closed 74 in Q1 2020.
- First Quadrant's portfolio value fell 43% quarter-over-quarter to $687M.
Based on First Quadrant's 13F filing for Q1 2020, filed 5 May 2020.