First Pacific Advisors, LP
Long book
$7.00B
Q1 2026
Positions
83
Top-10 weight
54%
concentration
Last quarter
+13.6%
SPY +14.8%
Turnover
36%
of book per quarter
Strategy in plain words
auto-generated from filingsFirst Pacific Advisors, LP is a diversified fundamental manager, running a $7.00B US long book across 83 positions.
The portfolio is concentrated: the top 10 names carry 54% of the portfolio. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: ANALOG DEVICES INC, ALPHABET INC-CL A, INTL FLAVORS & FRAGRANCES, META PLATFORMS INC-CLASS A, ALPHABET INC-CL C.
Over the last 9 quarters its long book ran on average 0.2pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+5.7%
Q2 2024
+4.2%
Q3 2024
+4.8%
Q4 2024
-6.1%
Q1 2025
+11.3%
Q2 2025
+7.2%
Q3 2025
+5.0%
Q4 2025
-3.5%
Q1 2026
+13.6%
Sector allocation
Technology 30%
Consumer discretionary 14%
Financials 14%
Healthcare 12%
Other 10%
Communications 7%
Industrials 6%
Services media 6%
Long book by quarter
What does First Pacific own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| ADI ANALOG DEVICES INC | Technology | 1.7M | $548.2M | 7.8% | -8.1% |
| GOOGL ALPHABET INC-CL A | Technology | 1.7M | $484.1M | 6.9% | -11.9% |
| IFF INTL FLAVORS & FRAGRANCES | Other | 5.4M | $392.5M | 5.6% | +1.6% |
| META META PLATFORMS INC-CLASS A | Technology | 680.6K | $389.4M | 5.6% | -3.1% |
| GOOG ALPHABET INC-CL C | Technology | 1.3M | $382.4M | 5.5% | -1.2% |
| C CITIGROUP INC | Financials | 3.2M | $360.1M | 5.1% | -9.5% |
| TEL TE CONNECTIVITY PLC | Consumer discretionary | 1.7M | $345.1M | 4.9% | -7.3% |
| BDX BECTON DICKINSON AND CO | Healthcare | 2.0M | $311.4M | 4.4% | +1.5% |
| AMZN AMAZON.COM INC | Consumer discretionary | 1.4M | $295.0M | 4.2% | +0.4% |
| CMCSA COMCAST CORP-CLASS A | Communications | 8.6M | $246.7M | 3.5% | +2.3% |
| LBRDK LIBERTY BROADBAND-C | Communications | 4.6M | $233.5M | 3.3% | +73.9% |
| AON AON PLC-CLASS A | Financials | 703.3K | $227.0M | 3.2% | +7.1% |
| FERG FERGUSON ENTERPRISES INC | Consumer discretionary | 817.0K | $190.6M | 2.7% | -7.9% |
| AMRZ AMRIZE LTD | Industrials | 3.1M | $176.3M | 2.5% | -7.7% |
| NXPI NXP SEMICONDUCTORS NV | Technology | 768.9K | $151.4M | 2.2% | +0.3% |
| MTN VAIL RESORTS INC | Services media | 1.2M | $150.9M | 2.2% | +8.2% |
| FBIN FORTUNE BRANDS INNOVATIONS I | Other | 3.8M | $147.8M | 2.1% | +7.6% |
| KMX CARMAX INC | Consumer discretionary | 3.0M | $124.0M | 1.8% | +2.0% |
| NOV NOV INC | Industrials | 6.3M | $118.9M | 1.7% | -21.9% |
| BIO BIO-RAD LABORATORIES-A | Healthcare | 407.4K | $113.6M | 1.6% | +1.5% |
| BAX BAXTER INTERNATIONAL INC | Healthcare | 6.7M | $112.6M | 1.6% | New |
| ICLR ICON PLC | Healthcare | 991.1K | $109.7M | 1.6% | +1.0% |
| TMO THERMO FISHER SCIENTIFIC INC | Other | 221.9K | $109.1M | 1.6% | +1.5% |
| JEF JEFFERIES FINANCIAL GROUP IN | Financials | 2.6M | $106.7M | 1.5% | +0.2% |
| LPLA LPL FINANCIAL HOLDINGS INC | Financials | 320.6K | $96.5M | 1.4% | -17.2% |
| AJG ARTHUR J GALLAGHER & CO | Financials | 387.7K | $84.0M | 1.2% | New |
| WAT WATERS CORP | Healthcare | 267.5K | $79.7M | 1.1% | New |
| MAR MARRIOTT INTERNATIONAL -CL A | Services media | 232.8K | $76.1M | 1.1% | -40.3% |
| UBER UBER TECHNOLOGIES INC | Services media | 969.8K | $69.8M | 1.0% | +1.7% |
| WFC WELLS FARGO & CO | Financials | 872.7K | $69.5M | 1.0% | -21.4% |
| WAB WABTEC CORP | Industrials | 260.7K | $65.2M | 0.9% | -41.3% |
| AVTR AVANTOR INC | Healthcare | 8.1M | $63.4M | 0.9% | +103.8% |
| PYPL PAYPAL HOLDINGS INC | Services media | 1.4M | $62.9M | 0.9% | New |
| DELL DELL TECHNOLOGIES -C | Technology | 383.0K | $62.9M | 0.9% | Held |
| CNH CNH INDUSTRIAL NV | Industrials | 4.8M | $52.9M | 0.8% | New |
| KMI KINDER MORGAN INC | Utilities | 1.3M | $44.7M | 0.6% | -67.3% |
| VYX NCR VOYIX CORP | Technology | 5.4M | $34.2M | 0.5% | +7.3% |
| MICC MAGNUM ICE CREAM CO NV/THE | Consumer staples | 2.3M | $33.7M | 0.5% | +32.8% |
| PCG P G & E CORP | Utilities | 1.2M | $20.4M | 0.3% | +1.7% |
| AVGO BROADCOM INC | Technology | 62.5K | $19.3M | 0.3% | -27.5% |
| MRSH MARSH & MCLENNAN COS | Financials | 108.7K | $18.9M | 0.3% | New |
| RUSHA RUSH ENTERPRISES INC-CL A | Consumer discretionary | 129.1K | $8.5M | 0.1% | -12.8% |
| STGW STAGWELL INC | Services media | 1.2M | $7.5M | 0.1% | Held |
| TDW TIDEWATER INC | Industrials | 82.5K | $6.9M | 0.1% | -13.1% |
| EQPT EQUIPMENTSHARE.COM INC-A | Services media | 285.7K | $5.8M | 0.1% | New |
| ECHO ECHOSTAR CORP-A | Communications | 47.1K | $5.5M | 0.1% | -80.3% |
| NATL NCR ATLEOS CORP | Technology | 110.9K | $4.8M | 0.1% | -94.6% |
| PDLB PONCE FINANCIAL GROUP INC | Financials | 181.6K | $3.0M | 0.0% | Held |
| RSVR RESERVOIR MEDIA INC | Services media | 308.7K | $3.0M | 0.0% | -6.2% |
| ALGT ALLEGIANT TRAVEL CO | Industrials | 34.2K | $2.8M | 0.0% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 14, 2026 | 86 | $7.14B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 64 | $7.60B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 13, 2025 | 62 | $7.23B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 1, 2025 | 63 | $6.99B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 6, 2025 | 57 | $6.24B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 7, 2025 | 57 | $7.00B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 4, 2024 | 62 | $7.20B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 2, 2024 | 75 | $7.39B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 2, 2024 | 77 | $7.13B | canonical | SEC ↗ |
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