First American Financial Corp
Long book
$369.8M
Q1 2026
Positions
3
Top-10 weight
100%
concentration
Last quarter
+13.0%
SPY +14.8%
Turnover
0%
of book per quarter
Strategy in plain words
auto-generated from filingsFirst American Financial Corp is a wealth-management firm allocating client money, running a $369.8M US long book across 3 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: VANGUARD S&P 500 ETF, VANGUARD TOTAL INTL STOCK, OFFERPAD SOLUTIONS INC COM CL A.
Over the last 9 quarters its long book ran on average 0.3pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.8%
Q2 2024
+8.0%
Q3 2024
-1.7%
Q4 2024
-0.3%
Q1 2025
+11.4%
Q2 2025
+7.6%
Q3 2025
+3.5%
Q4 2025
-1.5%
Q1 2026
+13.0%
Sector allocation
Real estate 100%
Long book by quarter
What does First American own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 12, 2026 | 3 | $369.8M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 11, 2026 | 3 | $373.4M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 10, 2025 | 3 | $305.1M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 11, 2025 | 3 | $293.6M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 12, 2025 | 3 | $269.2M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 11, 2025 | 3 | $291.7M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 12, 2024 | 3 | $305.2M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 12, 2024 | 4 | $296.1M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 13, 2024 | 4 | $320.5M | canonical | SEC ↗ |