First Pacific Advisors Portfolio holdings
First Pacific Advisors, known as FPA, is a value investing firm whose own professionals bought it back from its corporate parent, Old Mutual U.S., in 2006. It began in 1954 as a mutual fund company called Shareholders Management Company, and took the name FPA in 1976. Steven Romick, who with David Brookman controls the firm, launched the FPA Crescent Fund in 1993 and brought it to the firm in 1996. FPA looks for assets worth more than their market price, treats risk as the chance of permanent capital loss rather than volatility, and builds portfolios from the ground up through research.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Arthur J. Gallagher & Co
AJG
|
+$201M |
| 2 |
Intuit
INTU
|
+$116M |
| 3 |
Danaher
DHR
|
+$103M |
| 4 |
SAP
SAP
|
+$94.7M |
| 5 |
GE HealthCare
GEHC
|
+$54.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$99M |
| 2 |
Marriott International
MAR
|
+$79M |
| 3 |
Dell
DELL
|
+$62.9M |
| 4 |
Analog Devices
ADI
|
+$49.3M |
| 5 |
Icon
ICLR
|
+$49M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 21.55% |
| 2 | Technology | 17.97% |
| 3 | Financials | 16.87% |
| 4 | Healthcare | 14.55% |
| 5 | Consumer Discretionary | 8.37% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
51
Maravai LifeSciences
MRVI
$1.15B
| $5.52M | 0.07% |
884,883
| – | – |
2025 Q2
4 quarters
|
|
52
Vanguard Total World Stock ETF
VT
$83.7B
| $5.2M | 0.06% |
33,151
+6,761
| +26% | +$1.03M |
2021 Q4
18 quarters
|
|
53
Tidewater
TDW
$3.92B
| $5.09M | 0.06% |
76,423
-6,126
| -7% | -$486K |
2018 Q4
30 quarters
|
|
54
EchoStar
ECHO
$29.7B
| $4.78M | 0.06% |
47,066
| – | – |
2024 Q3
7 quarters
|
|
|
55
PUT
EchoStar
ECHO
$29.7B
| $4.77M | 0.06% |
47,000
| – | – |
2025 Q3
3 quarters
|
|
56
Allegiant Air
ALGT
$2.63B
| $4.02M | 0.05% |
34,186
| – | – |
2017 Q2
36 quarters
|
|
57
FPA Short Duration Government ETF
FPAS
$14.5M
| $3.63M | 0.04% |
+146,775
| New | +$3.64M |
2026 Q2
0 quarters
|
|
58
Ponce Financial Group
PDLB
$534M
| $3.62M | 0.04% |
181,562
| – | – |
2022 Q3
15 quarters
|
|
59
Reservoir Media
RSVR
$687M
| $3.05M | 0.04% |
308,747
| – | – |
2025 Q1
5 quarters
|
|
60
Pioneer Bancorp
PBFS
$438M
| $2.85M | 0.04% |
166,974
| – | – |
2024 Q1
9 quarters
|
|
61
Orion
OEC
$226M
| $2.77M | 0.03% |
417,388
| – | – |
2017 Q4
34 quarters
|
|
62
Willis Lease Finance
WLFC
$983M
| $2.62M | 0.03% |
+34,329
| New | +$2.24M |
2026 Q2
0 quarters
|
|
63
NCR Atleos
NATL
$3.56B
| $2.17M | 0.03% |
50,033
-60,900
| -55% | -$2.7M |
2023 Q4
10 quarters
|
|
64
Par Pacific Holdings
PARR
$3.56B
| $1.33M | 0.02% |
23,720
-8,931
| -27% | -$532K |
2014 Q3
47 quarters
|
|
65
AerSale
ASLE
$256M
| $1.32M | 0.02% |
208,726
| – | – |
2025 Q2
4 quarters
|
|
66
Southern Copper
SCCO
$147B
| $1.24M | 0.02% |
7,288
-1
| -0% | -$178 |
2026 Q1
1 quarter
|
|
67
Netflix
NFLX
$265B
| $1.17M | 0.01% |
16,400
| – | – |
2020 Q1
25 quarters
|
|
68
Carlisle Companies
CSL
$15.4B
| $955K | 0.01% |
2,632
| – | – |
2026 Q1
1 quarter
|
|
69
Upwork
UPWK
$1.23B
| $477K | 0.01% |
57,081
| – | – |
2020 Q2
24 quarters
|
|
70
Baidu
BIDU
$27.2B
| $391K | ﹤0.01% |
3,421
| – | – |
2026 Q1
1 quarter
|
|
71
Uniti Group
UNIT
$988M
| $289K | ﹤0.01% |
25,235
| – | – |
2025 Q3
3 quarters
|
|
72
iShares BB Rated Corporate Bond ETF
HYBB
$370M
| $174K | ﹤0.01% |
3,727
+3,585
| +2,525% | +$167K |
2025 Q4
2 quarters
|
|
73
Diageo
DEO
$55.8B
| $80 | ﹤0.01% |
1
| – | – |
2026 Q1
1 quarter
|
|
74
Chevron
CVX
$416B
| – | – |
-6,144
| Closed | -$1.27M | – |
|
|
75
Dell
DELL
$238B
| – | – |
-382,985
| Closed | -$62.9M | – |
|
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First Pacific Advisors's Q2 2026 Portfolio in Review
As of Q2 2026, First Pacific Advisors held 93 positions worth $8.09B, up 13% from $7.14B the previous quarter. Its ten largest holdings account for 51% of the portfolio.
First Pacific Advisors's Q2 2026 filing shows 7 new, 29 increased, 19 reduced and 18 closed positions. Its largest new stake was Intuit: 331,964 shares worth $86.6M. The largest sale was Alphabet (Google) Class A, an estimated $99M.
By sector, the portfolio is most concentrated in Communication Services at 22% of assets, down from 25% a quarter earlier, followed by Technology and Financials.
- First Pacific Advisors's largest Q2 2026 buy was Intuit: 331,964 shares worth $86.6M.
- First Pacific Advisors added most to Arthur J. Gallagher & Co in Q2 2026, an estimated $201M increase.
- First Pacific Advisors's biggest Q2 2026 reduction was Alphabet (Google) Class A, cutting an estimated $99M.
- First Pacific Advisors fully exited Dell in Q2 2026, selling an estimated $62.9M.
- First Pacific Advisors's ten largest holdings make up 51% of its $8.09B portfolio in Q2 2026.
- First Pacific Advisors opened 7 new positions and closed 18 in Q2 2026.
- First Pacific Advisors's portfolio value rose 13% quarter-over-quarter to $8.09B.
Based on First Pacific Advisors's 13F filing for Q2 2026, filed 14 Aug 2026.