First City Capital Management 13F annual report

First City Capital Management is an investment fund managing more than $181 billion ran by A.m.j. Sarabia. There are currently 150 companies in Sarabia’s portfolio. The largest investments include Microsoft and Home Depot, together worth $17.9 billion.

Limited to 30 biggest holdings

$181 billion Assets Under Management (AUM)

As of 15th May 2024, First City Capital Management’s top holding is 25,526 shares of Microsoft currently worth over $10.7 billion and making up 5.9% of the portfolio value. Relative to the number of outstanding shares of Microsoft, First City Capital Management owns more than approximately 0.1% of the company. In addition, the fund holds 18,597 shares of Home Depot worth $7.13 billion, whose value grew 8.7% in the past six months. The third-largest holding is Eli Lilly & Co worth $6.92 billion and the next is Spdr S&p 500 Etf Tr worth $6.29 billion, with 12,027 shares owned.

Currently, First City Capital Management's portfolio is worth at least $181 billion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at First City Capital Management

The First City Capital Management office and employees reside in Savannah, Georgia. According to the last 13-F report filed with the SEC, A.m.j. Sarabia serves as the CCO at First City Capital Management.

Recent trades

In the most recent 13F filing, First City Capital Management revealed that it had opened a new position in Invesco Exch Trd Slf Idx Fd and bought 82,646 shares worth $1.54 billion.

The investment fund also strengthened its position in Spdr S&p 500 Etf Tr by buying 2 additional shares. This makes their stake in Spdr S&p 500 Etf Tr total 12,027 shares worth $6.29 billion.

On the other hand, there are companies that First City Capital Management is getting rid of from its portfolio. First City Capital Management closed its position in Direxion Shs Etf Tr on 22nd May 2024. It sold the previously owned 68,930 shares for $990 million. A.m.j. Sarabia also disclosed a decreased stake in Microsoft by approximately 0.1%. This leaves the value of the investment at $10.7 billion and 25,526 shares.

One of the smallest hedge funds

The two most similar investment funds to First City Capital Management are Toronado Partners and Myriad Asset Management Us L.P.. They manage $181 billion and $181 billion respectively.


A.m.j. Sarabia investment strategy

First City Capital Management’s portfolio is diversified across 12 sectors. Currently, their heaviest sector is Health Care — making up 12.0% of the total portfolio value. The fund focuses on investments in the United States as 53.3% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 55% of the total holdings value. On the other hand, small-cap stocks make up only 2.7% of the portfolio. The average market cap of the portfolio companies is close to $169 billion.

The complete list of First City Capital Management trades based on 13F SEC filings

These positions were updated on May 22nd based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security Shares Owned Value Allocation
Microsoft Corporation
0.97%
25,526
$10,739,339,000 5.95%
Home Depot, Inc.
11.52%
18,597
$7,133,809,000 3.95%
Eli Lilly & Co
12.86%
8,890
$6,916,438,000 3.83%
Spdr S&p 500 Etf Tr
0.02%
12,027
$6,290,963,000 3.48%
Coca-Cola Co
16.70%
98,071
$5,999,969,000 3.32%
Exxon Mobil Corp.
1.85%
45,693
$5,311,354,000 2.94%
Abbvie Inc
4.68%
28,614
$5,210,685,000 2.89%
Berkshire Hathaway Inc.
3.33%
9,944
$4,181,651,000 2.32%
Unified Ser Tr
30.64%
102,977
$3,904,517,000 2.16%
Merck & Co Inc
5.21%
28,214
$3,722,837,000 2.06%
Vanguard Index Fds
15.08%
11,829
$4,346,492,000 2.41%
Apple Inc
2.08%
20,547
$3,523,406,000 1.95%
JPMorgan Chase & Co.
0.89%
16,740
$3,353,022,000 1.86%
NVIDIA Corp
0.09%
3,520
$3,180,531,000 1.76%
Amazon.com Inc.
0.10%
16,391
$2,956,609,000 1.64%
Procter And Gamble Co
13.21%
15,023
$2,437,524,000 1.35%
Bank America Corp
1.65%
58,249
$2,208,788,000 1.22%
RTX Corp
11.30%
22,589
$2,203,134,000 1.22%
Avery Dennison Corp.
No change
9,290
$2,073,993,000 1.15%
Chevron Corp.
3.81%
12,713
$2,005,349,000 1.11%
International Business Machs
1.49%
10,262
$1,959,632,000 1.09%
Illinois Tool Wks Inc
19.98%
6,673
$1,790,566,000 0.99%
Innovator ETFs Trust
0.00%
99,484
$3,531,556,000 1.96%
Verizon Communications Inc
0.96%
42,332
$1,776,233,000 0.98%
CVS Health Corp
13.45%
21,655
$1,727,165,000 0.96%
Northrop Grumman Corp.
No change
3,548
$1,698,286,000 0.94%
Lockheed Martin Corp.
2.42%
3,702
$1,683,929,000 0.93%
The Southern Co.
19.27%
22,825
$1,637,466,000 0.91%
Lowes Cos Inc
17.40%
6,208
$1,581,282,000 0.88%
Johnson & Johnson
12.69%
9,850
$1,558,156,000 0.86%
Paychex Inc.
2.77%
12,264
$1,506,019,000 0.83%
Bristol-Myers Squibb Co.
4.58%
26,732
$1,449,676,000 0.80%
Eaton Corp Plc
6.00%
4,478
$1,400,181,000 0.78%
Pfizer Inc.
7.55%
50,282
$1,395,328,000 0.77%
Altria Group Inc.
2.03%
31,986
$1,395,248,000 0.77%
Wells Fargo Co New
0.69%
23,526
$1,363,567,000 0.76%
Wisdomtree Tr
6.75%
29,646
$1,240,389,000 0.69%
Cincinnati Finl Corp
1.98%
9,925
$1,232,387,000 0.68%
Duke Energy Corp.
1.91%
12,285
$1,188,128,000 0.66%
Mondelez International Inc.
21.10%
16,616
$1,163,120,000 0.64%
Pepsico Inc
1.49%
6,458
$1,130,207,000 0.63%
Abbott Labs
10.39%
9,731
$1,106,078,000 0.61%
AT&T Inc.
5.57%
62,816
$1,105,568,000 0.61%
AMGEN Inc.
No change
3,811
$1,083,544,000 0.60%
Honeywell International Inc
4.18%
5,160
$1,059,090,000 0.59%
Cisco Sys Inc
2.61%
20,232
$1,009,779,000 0.56%
Direxion Shs Etf Tr
Closed
68,930
$989,835,000
Ishares Tr
2.86%
30,749
$3,692,224,000 2.04%
Alphabet Inc
0.86%
9,536
$1,443,333,000 0.80%
Intel Corp.
4.09%
21,906
$967,589,000 0.54%
Sanofi
0.50%
19,906
$967,432,000 0.54%
Qualcomm, Inc.
10.35%
5,639
$954,683,000 0.53%
Spdr Dow Jones Indl Average
2.35%
2,392
$951,600,000 0.53%
Crane Co
2.11%
6,963
$940,910,000 0.52%
Textron Inc.
No change
8,301
$796,315,000 0.44%
Invesco Exchange Traded Fd T
2.18%
17,426
$1,468,888,000 0.81%
L3Harris Technologies Inc
No change
3,657
$779,307,000 0.43%
Freeport-McMoRan Inc
4.58%
16,106
$757,304,000 0.42%
3M Co.
12.93%
7,126
$755,855,000 0.42%
Genuine Parts Co.
1.81%
4,786
$741,572,000 0.41%
Meta Platforms Inc
1.70%
1,499
$727,884,000 0.40%
Acuity Brands, Inc.
15.66%
2,693
$723,744,000 0.40%
Astrazeneca plc
No change
10,186
$690,102,000 0.38%
Kraft Heinz Co
5.60%
18,622
$687,152,000 0.38%
Spdr Gold Tr
No change
3,197
$657,687,000 0.36%
Invesco Exch Traded Fd Tr Ii
8.25%
31,080
$657,342,000 0.36%
Dover Corp.
No change
3,589
$635,935,000 0.35%
Comcast Corp New
0.55%
14,362
$622,593,000 0.34%
Mcdonalds Corp
3.16%
2,179
$614,369,000 0.34%
Carrier Global Corporation
20.70%
10,537
$612,516,000 0.34%
Norfolk Southn Corp
8.86%
2,396
$610,669,000 0.34%
Becton Dickinson & Co.
14.73%
2,466
$610,180,000 0.34%
Invesco Exch Trd Slf Idx Fd
Opened
82,646
$1,536,435,000 0.85%
Southern Copper Corporation
No change
5,724
$609,720,000 0.34%
Chubb Limited
0.73%
2,318
$600,663,000 0.33%
Cummins Inc.
3.09%
1,978
$582,818,000 0.32%
Etf Opportunities Trust
Opened
50,610
$565,314,000 0.31%
Costco Whsl Corp New
1.28%
769
$563,392,000 0.31%
Boeing Co.
Closed
2,119
$552,349,000
Spdr Ser Tr
1.41%
6,275
$547,368,000 0.30%
Unitedhealth Group Inc
0.99%
1,101
$544,665,000 0.30%
Barrick Gold Corp.
No change
31,812
$529,352,000 0.29%
Sealed Air Corp.
1.05%
14,095
$524,334,000 0.29%
Mckesson Corporation
No change
975
$523,429,000 0.29%
Novartis AG
1.15%
5,335
$516,066,000 0.29%
Leggett & Platt, Inc.
No change
26,807
$513,354,000 0.28%
American Express Co.
38.76%
2,247
$511,619,000 0.28%
NextEra Energy Inc
33.36%
7,992
$510,769,000 0.28%
Canadian Pacific Kansas City
No change
5,782
$509,799,000 0.28%
Northern Tr Corp
23.95%
5,717
$508,356,000 0.28%
Johnson Ctls Intl Plc
2.62%
7,761
$506,949,000 0.28%
Ssga Active Etf Tr
0.16%
19,015
$785,756,000 0.44%
Proshares Tr
0.63%
4,755
$482,205,000 0.27%
KKR & Co. Inc
No change
4,750
$477,755,000 0.26%
Vanguard Star Fds
2.05%
7,846
$473,114,000 0.26%
GSK Plc
1.47%
10,699
$458,666,000 0.25%
Philip Morris International Inc
42.28%
4,888
$447,839,000 0.25%
Union Pac Corp
12.89%
1,804
$443,658,000 0.25%
Rio Tinto plc
12.10%
6,948
$442,866,000 0.25%
Walmart Inc
187.57%
7,359
$442,781,000 0.25%
Citigroup Inc
0.71%
6,968
$440,669,000 0.24%
Celanese Corp
No change
2,547
$437,727,000 0.24%
Medtronic Plc
11.16%
4,979
$433,920,000 0.24%
Pnc Finl Svcs Group Inc
0.75%
2,642
$426,947,000 0.24%
Colgate-Palmolive Co.
0.44%
4,540
$408,827,000 0.23%
SouthState Corporation
3.13%
4,801
$408,229,000 0.23%
Sovos Brands Inc
Closed
18,500
$407,555,000
Darden Restaurants, Inc.
No change
2,400
$401,160,000 0.22%
Wp Carey Inc
0.49%
6,730
$379,841,000 0.21%
Trane Technologies plc
No change
1,264
$379,453,000 0.21%
Crane Nxt Co
2.52%
5,797
$358,834,000 0.20%
International Flavors&fragra
17.86%
4,125
$354,709,000 0.20%
Whirlpool Corp.
8.23%
2,955
$353,507,000 0.20%
British Amern Tob Plc
5.46%
11,590
$353,495,000 0.20%
Innovator ETFs Trust
Opened
9,495
$349,511,000 0.19%
Goldman Sachs Group, Inc.
No change
835
$348,771,000 0.19%
Pioneer Nat Res Co
No change
1,324
$347,550,000 0.19%
Cameco Corp.
5.92%
7,950
$344,394,000 0.19%
Weyerhaeuser Co Mtn Be
No change
9,404
$337,698,000 0.19%
Ishares Tr
Opened
4,219
$336,929,000 0.19%
Cardinal Health, Inc.
52.49%
2,970
$332,343,000 0.18%
General Mls Inc
67.97%
4,702
$328,999,000 0.18%
Conocophillips
No change
2,573
$327,491,000 0.18%
Ishares Gold Tr
4.13%
7,543
$316,881,000 0.18%
Brown-Forman Corporation
6.06%
6,105
$315,140,000 0.17%
Fedex Corp
No change
1,085
$314,368,000 0.17%
Disney Walt Co
8.48%
2,397
$293,317,000 0.16%
Visa Inc
27.78%
1,040
$290,243,000 0.16%
Diageo plc
No change
1,934
$287,663,000 0.16%
Canadian Natl Ry Co
8.65%
2,164
$285,020,000 0.16%
Ingredion Inc
No change
2,404
$280,907,000 0.16%
Linde Plc.
25.00%
600
$278,592,000 0.15%
General Electric Co
Opened
1,567
$275,078,000 0.15%
United Parcel Service, Inc.
3.50%
1,848
$274,668,000 0.15%
Xylem Inc
No change
2,075
$268,173,000 0.15%
Otis Worldwide Corporation
33.74%
2,700
$268,029,000 0.15%
Newmont Corp
2.61%
7,475
$267,904,000 0.15%
KLA Corp.
No change
382
$266,854,000 0.15%
Occidental Pete Corp
Closed
4,408
$263,202,000
Vanguard Specialized Funds
Closed
1,518
$258,667,000
Truist Finl Corp
1.39%
6,632
$258,533,000 0.14%
Dow Inc
8.04%
4,393
$254,486,000 0.14%
Applied Matls Inc
5.84%
1,210
$249,538,000 0.14%
Oracle Corp.
1.25%
1,983
$249,085,000 0.14%
Nucor Corp.
No change
1,250
$247,375,000 0.14%
Enterprise Prods Partners L
Opened
8,382
$244,577,000 0.14%
UBS Group AG
1.87%
7,879
$242,043,000 0.13%
Vanguard Scottsdale Fds
No change
2,744
$237,822,000 0.13%
Boston Scientific Corp.
Closed
4,030
$232,974,000
Bio-Techne Corp
6.17%
3,185
$224,192,000 0.12%
DuPont de Nemours Inc
Closed
2,846
$218,943,000
Kimberly-Clark Corp.
No change
1,690
$218,602,000 0.12%
Dominion Energy Inc
No change
4,386
$215,747,000 0.12%
Regeneron Pharmaceuticals, Inc.
Opened
223
$214,635,000 0.12%
Phillips 66
Opened
1,288
$210,382,000 0.12%
Novo-nordisk A S
Opened
1,610
$206,724,000 0.11%
Hershey Company
Closed
1,100
$205,084,000
Vanguard Tax-managed Fds
Closed
4,196
$200,988,000
Blackrock Muniyild Qult Fd I
No change
10,548
$129,213,000 0.07%
Warner Bros.Discovery Inc
Closed
10,310
$117,328,000
No transactions found
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