First Advantage
154 hedge funds and large institutions have $2.94B invested in First Advantage in 2025 Q3 according to their latest regulatory filings, with 15 funds opening new positions, 54 increasing their positions, 55 reducing their positions, and 21 closing their positions.
2.32% more ownership
Funds ownership: 107.48% → 109.79% (+2.3%)
0% more funds holding in top 10
Funds holding in top 10: 3 → 3 (0)
2% less repeat investments, than reductions
Existing positions increased: 54 | Existing positions reduced: 55
4% less funds holding
Funds holding: 161 → 154 (-7)
5% less capital invested
Capital invested by funds: $3.1B → $2.94B (-$160M)
29% less first-time investments, than exits
New positions opened: 15 | Existing positions closed: 21
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
T. Rowe Price Associates
Baltimore,
Maryland
|
+$61.8M |
| 2 |
AllianceBernstein
Nashville,
Tennessee
|
+$16.1M |
| 3 |
SM
Sunriver Management
Greenwich,
Connecticut
|
+$12.3M |
| 4 |
CRCM
Cat Rock Capital Management
Greenwich,
Connecticut
|
+$11.6M |
| 5 |
Capital World Investors
Los Angeles,
California
|
+$4.97M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
-$26M |
| 2 |
Dimensional Fund Advisors
Austin,
Texas
|
-$11.5M |
| 3 |
MOACM
Mutual of America Capital Management
New York
|
-$6.39M |
| 4 |
Jane Street
New York
|
-$3.56M |
| 5 |
TC
TwinBeech Capital
Purchase,
New York
|
-$2.79M |
FA Hedge Fund Activity: Q3 2025 in Review
154 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in First Advantage (FA) for Q3 2025, worth a combined $2.94B — down 5.2% from $3.1B a quarter earlier.
Sellers outnumbered buyers: 21 funds closed out of FA and 15 opened new positions — a net loss of 6 holders — while 55 trimmed existing stakes and 54 added.
The largest buyer was T. Rowe Price Associates, adding an estimated $61.8M. The largest seller was Fidelity Investments, cutting an estimated $26M.
- 154 institutional investors held First Advantage (FA) as of Q3 2025, down from 161 in Q2 2025.
- Funds reported $2.94B of First Advantage stock for Q3 2025, down 5.2% quarter-over-quarter.
- 15 funds opened new First Advantage positions in Q3 2025 and 21 closed out, a net change of -6 holders.
- The largest First Advantage buyer in Q3 2025 was T. Rowe Price Associates, an estimated $61.8M added.
- The largest First Advantage seller in Q3 2025 was Fidelity Investments, an estimated $26M sold.
Based on aggregated 13F filings for Q3 2025.