First Pacific Advisors (FPA)
Steven RomickEL SEGUNDO, CAfiles as First Pacific Advisors, LP
$8.0bn in 72 US stocks at the end of 30 June 2026. The top 10 are 51.6% of the money. It changed about 11.0% of the portfolio this quarter.
Value
$8.0bn
Stocks
72
Top 10 share
51.6%
Turnover
11.0%
What changed this quarter
New
Bought for the first time this quarter.
- DanaherDHR1.4% of the fund
- IntuitINTU1.1% of the fund
- SAP SESAP1.1% of the fund
- GE HealthCare TechnologiesGEHC0.7% of the fund
- Investment Managers SER TR IFPAG<0.1% of the fund
- Investment Managers SER TR IFPAS<0.1% of the fund
- Willis Lease FinanceWLFC<0.1% of the fund
Added
Bought more of a stock they already held.
- Becton DickinsonBDX4.0% of the fund+7%
- Arthur J. GallagherAJG3.9% of the fund+245%
- Vail ResortsMTN2.2% of the fund+11%
- Baxter InternationalBAX2.0% of the fund+14%
- Jefferies Financial GroupJEF1.7% of the fund+5%
- Thermo Fisher ScientificTMO1.6% of the fund+12%
- PayPal HoldingsPYPL1.2% of the fund+54%
- CNH IndustrialCNH1.0% of the fund+49%
- Magnum Ice CreamMICC0.6% of the fund+32%
- Marsh & McLennan CompaniesMRSH0.3% of the fund+12%
- Vanguard Instl Index FDVBIL0.2% of the fund+189%
- Vanguard Intl Equity Index FVT<0.1% of the fund+26%
- Ishares TRHYBB<0.1% of the fund+2525%
Cut
Sold some of their stake.
- Analog DevicesADI8.0% of the fund-7%
- AlphabetGOOGL6.3% of the fund-16%
- CitigroupC5.3% of the fund-5%
- Amazon.comAMZN4.1% of the fund-4%
- TE ConnectivityTEL3.9% of the fund-6%
- AonAON2.8% of the fund-3%
- NXP SemiconductorsNXPI2.4% of the fund-11%
- Ferguson EnterprisesFERG2.3% of the fund-4%
- IconICLR1.3% of the fund-39%
- Wells Fargo & CompanyWFC0.8% of the fund-10%
- Westinghouse Air Brake TechnologiesWAB0.6% of the fund-27%
- Marriott InternationalMAR<0.1% of the fund-92%
- TidewaterTDW<0.1% of the fund-7%
- NCR AtleosNATL<0.1% of the fund-55%
- PAR Pacific HoldingsPARR<0.1% of the fund-27%
Sold out
Sold their entire stake.
- Dell TechnologiesDELL-100%
- Kinder MorganKMI-100%
- Spdr Gold TRGLD-100%
- Franco NevadaFNV-100%
- ChevronCVX-100%
- Ross StoresROST-100%
- TeslaTSLA-100%
- Emerson ElectricEMR-100%
- Dollar GeneralDG-100%
- O'Reilly AutomotiveORLY-100%
- Envista HoldingsNVST-100%
- Walt DisneyDIS-100%
- Henry ScheinHSIC-100%
- W.W. GraingerGWW-100%
- McDonald'sMCD-100%
- CorpayCPAY-100%
- Scotts Miracle-GroSMG-100%
- Eastern BanksharesEBC-100%
Holdings
- Liberty BroadbandLBRDK
- Share
- 1.9%
- Value
- $154m
- Shares
- 4,641,753
Held
- Vanguard Instl Index FDVBIL
- Share
- 0.2%
- Value
- $20m
- Shares
- 260,280
+189%
- Investment Managers SER TR IFPAG
- Share
- <0.1%
- Value
- $6m
- Shares
- 145,470
New
- Vanguard Intl Equity Index FVT
- Share
- <0.1%
- Value
- $5m
- Shares
- 33,151
+26%
- Investment Managers SER TR IFPAS
- Share
- <0.1%
- Value
- $4m
- Shares
- 146,775
New
- BaiduBIDU
- Share
- <0.1%
- Value
- $390,986
- Shares
- 3,421
Held
- Ishares TRHYBB
- Share
- <0.1%
- Value
- $174,312
- Shares
- 3,727
+2525%
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Analog DevicesADI | 8.0% | $635m | 1,598,506 | -7% |
| AlphabetGOOGL | 6.3% | $503m | 1,408,518 | -16% |
| AlphabetGOOG | 5.9% | $471m | 1,333,205 | Held |
| International Flavors & FragrancesIFF | 5.4% | $432m | 5,455,081 | Held |
| CitigroupC | 5.3% | $422m | 3,016,828 | -5% |
| Meta PlatformsMETA | 4.8% | $383m | 679,884 | Held |
| Amazon.comAMZN | 4.1% | $324m | 1,360,585 | -4% |
| Becton DickinsonBDX | 4.0% | $319m | 2,110,794 | +7% |
| TE ConnectivityTEL | 3.9% | $313m | 1,551,105 | -6% |
| Arthur J. GallagherAJG | 3.9% | $307m | 1,336,290 | +245% |
| AonAON | 2.8% | $226m | 681,367 | -3% |
| ComcastCMCSA | 2.7% | $213m | 8,676,664 | Held |
| Fortune Brands InnovationsFBIN | 2.6% | $210m | 3,825,269 | Held |
| NXP SemiconductorsNXPI | 2.4% | $193m | 688,107 | -11% |
| Ferguson EnterprisesFERG | 2.3% | $187m | 786,822 | -4% |
| Vail ResortsMTN | 2.2% | $178m | 1,304,959 | +11% |
| AmrizeAMRZ | 2.1% | $169m | 3,177,325 | Held |
| Baxter InternationalBAX | 2.0% | $162m | 7,618,145 | +14% |
| CarMaxKMX | 2.0% | $159m | 3,008,564 | Held |
| Liberty BroadbandLBRDK | 1.9% | $154m | 4,641,753 | Held |
| Jefferies Financial GroupJEF | 1.7% | $135m | 2,704,265 | +5% |
| Thermo Fisher ScientificTMO | 1.6% | $124m | 248,244 | +12% |
| NOVNOV | 1.5% | $119m | 6,392,388 | Held |
| Bio-Rad LaboratoriesBIO | 1.5% | $118m | 401,861 | Held |
| DanaherDHR | 1.4% | $108m | 564,781 | New |
| IconICLR | 1.3% | $105m | 606,523 | -39% |
| Douglas EmmettDEI | 1.3% | $103m | 8,743,999 | Held |
| WatersWAT | 1.3% | $101m | 268,164 | Held |
| PayPal HoldingsPYPL | 1.2% | $92m | 2,137,851 | +54% |
| LPL Financial HoldingsLPLA | 1.1% | $90m | 321,244 | Held |
| IntuitINTU | 1.1% | $87m | 331,964 | New |
| SAP SESAP | 1.1% | $86m | 555,426 | New |
| AvantorAVTR | 1.0% | $81m | 8,190,740 | Held |
| CNH IndustrialCNH | 1.0% | $80m | 7,148,586 | +49% |
| Uber TechnologiesUBER | 0.9% | $70m | 976,544 | Held |
| Vornado Realty TrustVNO | 0.8% | $66m | 1,683,761 | Held |
| Wells Fargo & CompanyWFC | 0.8% | $65m | 784,923 | -10% |
| GE HealthCare TechnologiesGEHC | 0.7% | $53m | 827,379 | New |
| Magnum Ice CreamMICC | 0.6% | $52m | 2,971,716 | +32% |
| Westinghouse Air Brake TechnologiesWAB | 0.6% | $51m | 189,045 | -27% |
| NCR VoyixVYX | 0.6% | $44m | 5,413,012 | Held |
| BroadcomAVGO | 0.3% | $24m | 63,167 | Held |
| Marsh & McLennan CompaniesMRSH | 0.3% | $20m | 121,213 | +12% |
| Pg&ePCG | 0.2% | $20m | 1,172,695 | Held |
| Vanguard Instl Index FDVBIL | 0.2% | $20m | 260,280 | +189% |
| Rush EnterprisesRUSHA | 0.1% | $9m | 129,094 | Held |
| StagwellSTGW | 0.1% | $9m | 1,191,918 | Held |
| Marriott InternationalMAR | <0.1% | $7m | 18,445 | -92% |
| Investment Managers SER TR IFPAG | <0.1% | $6m | 145,470 | New |
| EquipmentShare.comEQPT | <0.1% | $6m | 285,714 | Held |
| Maravai Lifesciences HoldingsMRVI | <0.1% | $6m | 884,883 | Held |
| Vanguard Intl Equity Index FVT | <0.1% | $5m | 33,151 | +26% |
| TidewaterTDW | <0.1% | $5m | 76,423 | -7% |
| EchoStarECHO | <0.1% | $5m | 47,066 | Held |
| Allegiant TravelALGT | <0.1% | $4m | 34,186 | Held |
| Investment Managers SER TR IFPAS | <0.1% | $4m | 146,775 | New |
| Ponce Financial GroupPDLB | <0.1% | $4m | 181,562 | Held |
| Reservoir MediaRSVR | <0.1% | $3m | 308,747 | Held |
| Pioneer BancorpPBFS | <0.1% | $3m | 166,974 | Held |
| OrionOEC | <0.1% | $3m | 417,388 | Held |
| Willis Lease FinanceWLFC | <0.1% | $3m | 11,443 | New |
| NCR AtleosNATL | <0.1% | $2m | 50,033 | -55% |
| PAR Pacific HoldingsPARR | <0.1% | $1m | 23,720 | -27% |
| AerSaleASLE | <0.1% | $1m | 208,726 | Held |
| Southern CopperSCCO | <0.1% | $1m | 7,126 | Held |
| NetflixNFLX | <0.1% | $1m | 16,400 | Held |
| Carlisle CompaniesCSL | <0.1% | $954,758 | 2,632 | Held |
| UpworkUPWK | <0.1% | $477,197 | 57,081 | Held |
| BaiduBIDU | <0.1% | $390,986 | 3,421 | Held |
| Uniti GroupUNIT | <0.1% | $289,445 | 25,235 | Held |
| Ishares TRHYBB | <0.1% | $174,312 | 3,727 | +2525% |
| DiageoDEO | <0.1% | $80 | 1 | Held |
Options (1)
- EchoStarECHO
- Type
- Put
- Value
- $5m
- Contracts
- 47,000
| Company | Type | Value | Contracts |
|---|---|---|---|
| EchoStarECHO | Put | $5m | 47,000 |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 15.7% since 30 June 2025.
Where the money is
Media & telecom21.8%
Technology17.4%
Financial services17.1%
Health care14.8%
Retail & consumer8.5%
Industrials7.7%
Materials7.6%
Real estate2.1%
Energy1.5%
Everyday goods0.6%
Utilities0.2%
Other0.4%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.