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 |
Charter Communications
CHTR
|
+$154M |
| 2 |
Boston Scientific
BSX
|
+$109M |
| 3 |
Core & Main
CNM
|
+$71.2M |
| 4 |
JBT Marel
JBTM
|
+$60M |
| 5 |
HCA Healthcare
HCA
|
+$53.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Liberty Broadband Class C
LBRDK
|
+$154M |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$90.4M |
| 3 |
Wabtec
WAB
|
+$50.9M |
| 4 |
Bio-Rad Laboratories Class A
BIO
|
+$46.3M |
| 5 |
Analog Devices
ADI
|
+$28.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 21.43% |
| 2 | Healthcare | 17.76% |
| 3 | Technology | 17.59% |
| 4 | Financials | 15.72% |
| 5 | Consumer Discretionary | 8.31% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
76
Uniti Group
UNIT
$1.04B
| $211K | ﹤0.01% |
25,235
| – | – |
2025 Q3
4 quarters
|
|
77
Diageo
DEO
$55.7B
| – | – |
-1
| Closed | -$80 | – |
|
|
78
DELISTED
Liberty Broadband Class C
LBRDK
| – | – |
-4,641,753
| Closed | -$154M | – |
|
79
Marriott International
MAR
$109B
| – | – |
-18,445
| Closed | -$6.84M | – |
|
80
PG&E
PCG
$28.6B
| – | – |
-1,172,695
| Closed | -$19.7M | – |
|
81
EchoStar
ECHO
$28.6B
| – | – |
-47,066
| Closed | -$4.78M | – |
|
|
82
PUT
EchoStar
ECHO
$28.6B
| – | – |
-47,000
| Closed | -$4.77M | – |
|
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First Pacific Advisors's Q3 2026 Portfolio in Review
As of Q3 2026, First Pacific Advisors held 83 positions worth $8.39B, up 3.8% from $8.09B the previous quarter. Its ten largest holdings account for 50% of the portfolio.
First Pacific Advisors's Q3 2026 filing shows 8 new, 29 increased, 22 reduced and 6 closed positions. Its largest new stake was Charter Communications: 1,106,776 shares worth $123M. The largest sale was Liberty Broadband Class C, an estimated $154M.
By sector, the portfolio is most concentrated in Communication Services at 21% of assets, down from 22% a quarter earlier, followed by Healthcare and Technology.
- First Pacific Advisors's largest Q3 2026 buy was Charter Communications: 1,106,776 shares worth $123M.
- First Pacific Advisors added most to Intuit in Q3 2026, an estimated $40.8M increase.
- First Pacific Advisors's biggest Q3 2026 reduction was Alphabet (Google) Class A, cutting an estimated $90.4M.
- First Pacific Advisors fully exited Liberty Broadband Class C in Q3 2026, selling an estimated $154M.
- First Pacific Advisors's ten largest holdings make up 50% of its $8.39B portfolio in Q3 2026.
- First Pacific Advisors opened 8 new positions and closed 6 in Q3 2026.
- First Pacific Advisors's portfolio value rose 3.8% quarter-over-quarter to $8.39B.
Based on First Pacific Advisors's 13F filing for Q3 2026, filed 12 Nov 2026.