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First Advantage
FA

161 hedge funds and large institutions have $3.1B invested in First Advantage in 2025 Q2 according to their latest regulatory filings, with 36 funds opening new positions, 65 increasing their positions, 37 reducing their positions, and 25 closing their positions.

New
Increased
Maintained
Reduced
Closed

76% more repeat investments, than reductions

Existing positions increased: 65 | Existing positions reduced: 37

44% more first-time investments, than exits

New positions opened: 36 | Existing positions closed: 25

20% more capital invested

Capital invested by funds: $2.58B → $3.1B (+$519M)

6% more funds holding

Funds holding: 152 → 161 (+9)

1.93% more ownership

Funds ownership: 105.54% → 107.48% (+1.9%)

25% less funds holding in top 10

Funds holding in top 10: 4 → 3 (-1)

Holders
161
Holders Change
+9
Holders Change %
+5.92%
% of All Funds
2.12%
Holding in Top 10
3
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-25%
% of All Funds
0.04%
New
36
Increased
65
Reduced
37
Closed
25
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
+$84.6M
2
AllianceBernstein
AllianceBernstein
Tennessee
+$74.6M
3
BlackRock
BlackRock
New York
+$12.8M
4
FAM
Fred Alger Management
New York
+$9.77M
5
Capital World Investors
Capital World Investors
California
+$8.07M

Top Sellers

Rank Fund Capital Flow
1
T. Rowe Price Investment Management
T. Rowe Price Investment Management
Maryland
-$30.6M
2
SM
Sunriver Management
Connecticut
-$29.2M
3
Wellington Management Group
Wellington Management Group
Massachusetts
-$24.7M
4
JP Morgan Chase
JP Morgan Chase
New York
-$19.4M
5
Dimensional Fund Advisors
Dimensional Fund Advisors
Texas
-$16.9M
Name Holding Trade Value Shares
Change 		Change in
Stake
HCP
176
Hexagon Capital Partners
Arkansas
– -$437 -31 Closed
HWM
177
Hemington Wealth Management
Virginia
– -$420 -26 -87%
SC
178
Stephens Consulting
Michigan
– -$353 -25 Closed
GFPC
179
Global Financial Private Client
Florida
– -$183 -13 Closed
CA
180
CoreCap Advisors
Michigan
– -$85 -6 Closed
BHWM
181
Bay Harbor Wealth Management
Maryland
– -$28 -2 Closed
HIA
182
HFM Investment Advisors
New Jersey
– -$29 -2 Closed
SS
183
SBI Securities
Japan
– -$14 -1 Closed
TWD
184
True Wealth Design
Ohio
– -$15 -1 Closed
CAL
185
Capital Advisors Ltd
Ohio
– +$274 +17 New
4 5 6 7
8

FA Hedge Fund Activity: Q2 2025 in Review

161 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in First Advantage (FA) for Q2 2025, worth a combined $3.1B — up 20% from $2.58B a quarter earlier.

Buyers outnumbered sellers: 36 funds opened new FA positions and 25 closed out — a net gain of 11 holders — while 65 added to existing stakes and 37 trimmed.

The largest buyer was T. Rowe Price Associates, adding an estimated $84.6M. The largest seller was T. Rowe Price Investment Management, exiting entirely with an estimated $30.6M sold.

  • 161 institutional investors held First Advantage (FA) as of Q2 2025, up from 152 in Q1 2025.
  • Funds reported $3.1B of First Advantage stock for Q2 2025, up 20% quarter-over-quarter.
  • 36 funds opened new First Advantage positions in Q2 2025 and 25 closed out, a net change of +11 holders.
  • The largest First Advantage buyer in Q2 2025 was T. Rowe Price Associates, an estimated $84.6M added.
  • The largest First Advantage seller in Q2 2025 was T. Rowe Price Investment Management, an estimated $30.6M sold.

Based on aggregated 13F filings for Q2 2025.