First Pacific Advisors portfolio & holdings
First Pacific Advisors
Historical clone performance and limitations
First Pacific Advisors (First Pacific Advisors) discloses a $8.08B portfolio across 74 US-listed positions in the latest 13F filing (2026Q2, filed Aug 14, 2026). The largest holding is ADI at 7.9% of the book.
A material reported change · Q2 2026
First Pacific Advisors reported a new position in DHR.
Holdings as of Jun 30, 2026 · filed Aug 14, 2026. Position at period end: 1.3% of the reported portfolio. The filing does not reveal the trade date, price, or reason.
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Holdings (74) · click any column to sort
| #↑ | Ticker | Issuer | % Port. | This Q | History | Value |
|---|---|---|---|---|---|---|
| 1 | ADI | 7.9% | $635M | |||
| 2 | GOOGL | 6.2% | $503M | |||
| 3 | GOOG | 5.8% | $471M | |||
| 4 | IFF | 5.3% | $432M | |||
| 5 | C | 5.2% | $422M | |||
| 6 | META | 4.7% | $383M | |||
| 7 | AMZN | 4.0% | $324M | |||
| 8 | BDX | 4.0% | $319M | |||
| 9 | TEL | 3.9% | $313M | |||
| 10 | AJG | 3.8% | $307M | |||
| 11 | AON | 2.8% | $226M | |||
| 12 | CMCSA | 2.6% | $213M | |||
| 13 | FBIN | 2.6% | $210M | |||
| 14 | NXPI | 2.4% | $193M | |||
| 15 | FERG | 2.3% | $187M | |||
| 16 | MTN | 2.2% | $178M | |||
| 17 | H2927K103 | 2.1% | $169M | |||
| 18 | BAX | 2.0% | $162M | |||
| 19 | KMX | 2.0% | $159M | |||
| 20 | LBRDK | 1.9% | $154M | |||
| 21 | JEF | 1.7% | $135M | |||
| 22 | TMO | 1.5% | $124M | |||
| 23 | NOV | 1.5% | $119M | |||
| 24 | BIO | 1.5% | $118M | |||
| 25 | SATS 3.875 11/30/30 | 1.4% | $114M | |||
| 26 | DHR | 1.3% | $108M | |||
| 27 | ICLR | 1.3% | $105M | |||
| 28 | DEI | 1.3% | $103M | |||
| 29 | WAT | 1.2% | $101M | |||
| 30 | PYPL | 1.1% | $92M | |||
| 31 | LPLA | 1.1% | $90M | |||
| 32 | INTU | 1.1% | $87M | |||
| 33 | SAP | 1.1% | $86M | |||
| 34 | AVTR | 1.0% | $81M | |||
| 35 | CNH | 1.0% | $80M | |||
| 36 | UBER | 0.9% | $70M | |||
| 37 | VNO | 0.8% | $66M | |||
| 38 | WFC | 0.8% | $65M | |||
| 39 | GEHC | 0.7% | $53M | |||
| 40 | N5505D105 | 0.6% | $52M | |||
| 41 | WAB | 0.6% | $51M | |||
| 42 | VYX | 0.5% | $44M | |||
| 43 | AVGO | 0.3% | $24M | |||
| 44 | MRSH | 0.3% | $20M | |||
| 45 | PCG | 0.2% | $20M | |||
| 46 | VBIL | 0.2% | $20M | |||
| 47 | RUSHA | 0.1% | $9M | |||
| 48 | STGW | 0.1% | $9M | |||
| 49 | MAR | 0.1% | $7M | |||
| 50 | FPAG | 0.1% | $6M | |||
| 51 | EQPT | 0.1% | $6M | |||
| 52 | MRVI | 0.1% | $6M | |||
| 53 | VT | 0.1% | $5M | |||
| 54 | TDW | 0.1% | $5M | |||
| 55 | W 1 08/15/26 | 0.1% | $5M | |||
| 56 | SATS | 0.1% | $5M | |||
| 57 | ALGT | 0.1% | $4M | |||
| 58 | 30254T478 | <0.1% | $4M | |||
| 59 | PDLB | <0.1% | $4M | |||
| 60 | RSVR | <0.1% | $3M | |||
| 61 | PBFS | <0.1% | $3M | |||
| 62 | L72967109 | <0.1% | $3M | |||
| 63 | WLFC | <0.1% | $3M | |||
| 64 | NATL | <0.1% | $2M | |||
| 65 | PARR | <0.1% | $1M | |||
| 66 | ASLE | <0.1% | $1M | |||
| 67 | SCCO | <0.1% | $1M | |||
| 68 | NFLX | <0.1% | $1M | |||
| 69 | CSL | <0.1% | $955K | |||
| 70 | UPWK | <0.1% | $477K | |||
| 71 | BIDU | <0.1% | $391K | |||
| 72 | UNIT | <0.1% | $289K | |||
| 73 | HYBB | <0.1% | $174K | |||
| 74 | DEO | 0.0% | $80 |
- 1ADIport7.9%val$635MAnalog Devices Incthis Q hold·40q
- port6.2%val$503MAlphabet Inc-cl Athis Q hold·40q
- 3GOOGport5.8%val$471MAlphabet Inc-cl Cthis Q hold·40q
- 4IFFport5.3%val$432MIntl Flavors & Fragrancesthis Q hold·23q
- 5Cport5.2%val$422MCitigroup Incthis Q hold·40q
- 6METAport4.7%val$383MMeta Platforms Inc-class Athis Q hold·35q
- 7AMZNport4.0%val$324MAmazon.com Incthis Q hold·34q
- 8BDXport4.0%val$319MBecton Dickinson And COthis Q hold·4q
- 9TELport3.9%val$313MTE Connectivity Plcthis Q hold·8q
- 10AJGport3.8%val$307MArthur J Gallagher & COthis Q +245%·2q
- 11AONport2.8%val$226MAon Plcthis Q hold·25q
- 12CMCSAport2.6%val$213MComcast Corp-class Athis Q hold·35q
- 13FBINport2.6%val$210MFortune Brands Innovations Ithis Q hold·8q
- 14NXPIport2.4%val$193MNxp Semiconductors N Vthis Q hold·26q
- 15FERGport2.3%val$187MFerguson Enterprises Incthis Q hold·8q
- 16MTNport2.2%val$178MVail Resorts Incthis Q hold·15q
- 17H2927K103port2.1%val$169MAmrize Ltdthis Q hold·3q
- 18BAXport2.0%val$162MBaxter International Incthis Q hold·2q
- 19KMXport2.0%val$159MCarmax Incthis Q hold·17q
- 20LBRDKport1.9%val$154MLiberty Broadband-cthis Q hold·3q
- 21JEFport1.7%val$135MJefferies Financial Group INthis Q hold·33q
- 22TMOport1.5%val$124MThermo Fisher Scientific Incthis Q hold·33q
- 23NOVport1.5%val$119MNov Incthis Q hold·7q
- 24BIOport1.5%val$118MBio-rad Laboratories-athis Q hold·11q
- 25SATS 3.875 11/30/30port1.4%val$114MEchostar Corpthis Q hold·5q
- 26DHRport1.3%val$108MDanaher Corpthis Q New·15q
- 27ICLRport1.3%val$105MIcon Pub Ltd COthis Q -39%·16q
- 28DEIport1.3%val$103MDouglas Emmett Incthis Q hold·15q
- 29WATport1.2%val$101MWaters Corpthis Q hold·2q
- 30PYPLport1.1%val$92MPaypal Holdings Incthis Q +54%·23q
- 31LPLAport1.1%val$90MLpl Financial Holdings Incthis Q hold·40q
- 32INTUport1.1%val$87MIntuit Incthis Q New·8q
- 33SAPport1.1%val$86MSap Se-sponsored Adrthis Q New·—1q
- 34AVTRport1.0%val$81MAvantor Incthis Q hold·5q
- 35CNHport1.0%val$80MCnh Indl N Vthis Q +49%·2q
- 36UBERport0.9%val$70MUber Technologies Incthis Q hold·19q
- 37VNOport0.8%val$66MVornado Realty Trustthis Q hold·17q
- 38WFCport0.8%val$65MWells Fargo & COthis Q hold·33q
- 39GEHCport0.7%val$53MGE Healthcare Technologythis Q New·—1q
- 40N5505D105port0.6%val$52MMagnum Ice Cream CO NVthis Q +32%·3q
- 41WABport0.6%val$51MWabtec Corpthis Q -27%·26q
- 42VYXport0.5%val$44MNcr Voyix Corpthis Q hold·17q
- 43AVGOport0.3%val$24MBroadcom Incthis Q hold·33q
- 44MRSHport0.3%val$20MMarsh & Mclennan Costhis Q hold·2q
- 45PCGport0.2%val$20MP G & E Corpthis Q hold·34q
- 46VBILport0.2%val$20MVanguard 0-3m T-bill Etfthis Q +189%·2q
- 47RUSHAport0.1%val$9MRush Enterprises Inc-cl Athis Q hold·40q
- 48STGWport0.1%val$9MStagwell Incthis Q hold·18q
- 49MARport0.1%val$7MMarriott International -cl Athis Q -92%·33q
- 50FPAGport0.1%val$6MFpa Global Equity Etf Newthis Q New·—1q
- 51EQPTport0.1%val$6MEquipmentshare.com Inc-athis Q hold·2q
- 52MRVIport0.1%val$6MMaravai Lifesciences Hldgs-athis Q hold·5q
- 53VTport0.1%val$5MVanguard Tot World Stk Etfthis Q +26%·19q
- 54TDWport0.1%val$5MTidewater Incthis Q hold·31q
- 55W 1 08/15/26port0.1%val$5MWayfair Incthis Q hold·15q
- 56SATSport0.1%val$5MEchostar Corp-athis Q hold·8q
- 57ALGTport0.1%val$4MAllegiant Travel COthis Q hold·37q
- 5830254T478port<0.1%val$4MInvestment Managers Ser TR Ithis Q New·—1q
- 59PDLBport<0.1%val$4MPonce Financial Group Incthis Q hold·16q
- 60RSVRport<0.1%val$3MReservoir Media Incthis Q hold·7q
- 61PBFSport<0.1%val$3MPioneer Bancorp Inc/nythis Q hold·10q
- 62L72967109port<0.1%val$3MOrion S.a.this Q hold·35q
- 63WLFCport<0.1%val$3MWillis Lease Finance Corpthis Q New·—1q
- 64NATLport<0.1%val$2MNcr Atleos Corpthis Q -55%·11q
- 65PARRport<0.1%val$1MPar Pacific Holdings Incthis Q -27%·40q
- 66ASLEport<0.1%val$1MAersale Corpthis Q hold·5q
- 67SCCOport<0.1%val$1MSouthern Copper Corpthis Q hold·2q
- 68NFLXport<0.1%val$1MNetflix Incthis Q hold·31q
- 69CSLport<0.1%val$955KCarlisle Cos Incthis Q hold·2q
- 70UPWKport<0.1%val$477KUpwork Incthis Q hold·25q
- 71BIDUport<0.1%val$391KBaidu Inc - Spon Adrthis Q hold·22q
- 72UNITport<0.1%val$289KUniti Group Incthis Q hold·4q
- 73HYBBport<0.1%val$174KIshares BB Rated Corp Bondthis Q +2525%·3q
- 74DEOport0.0%val$80Diageo Plc-sponsored Adrthis Q hold·2q
Tickers without links do not have a dedicated stock research page. Their reported positions remain in this table. Inspect the manager's SEC filings ↗
Beyond the 13F
as of 2026-06-30Across First Pacific Advisors’s registered funds — $26.28B disclosed in SEC Form N-PORT — just 20.1% sits in US-listed equity, the only slice a 13F reports. The other $20.99B is bonds, foreign listings, other assets and cash — none of which a 13F can show.
Where the hidden money is
| Netherlands | 2.2% | |
| France | 1.8% | |
| Japan | 1.2% | |
| Switzerland | 1.2% | |
| South Korea | 1.2% | |
| Belgium | 0.8% | |
| LU | 0.5% | |
| Ireland | 0.5% |
+6 more countries
Largest positions no 13F shows
| US TREASURY N/B · United States · USD | $1.06B |
| US TREASURY N/B · United States · USD | $995M |
| US TREASURY N/B · United States · USD | $802M |
| TREASURY BILL · United States · USD | $264M |
| US TREASURY N/B · United States · USD | $238M |
| Heineken Holding NV · Netherlands · EUR | $236M |
| TREASURY BILL · United States · USD | $236M |
| US TREASURY N/B · United States · USD | $217M |
From SEC Form N-PORT, which registered funds file with their full portfolio — every currency, asset class and short. Covers 5 funds. The percentage above is the composition of those funds, not a ratio between two filings: a 13F spans every discretionary account but only US-listed securities, while N-PORT covers only the registered funds but every asset inside them — different universes, so the totals are not comparable (the 13F itself reports $8.08B for 2026-06-30). None of this feeds the backtest above, which stays a pure 13F clone.
2026Q2 moves, by size (37)(expand ↓)
| Ticker | Issuer | Move | % Port. | Δ Shares | Value |
|---|---|---|---|---|---|
| AJG | Arthur J Gallagher & CO | ADD | 3.8% | +245% | $307M |
| ICLR | Icon Pub Ltd CO | TRIM | 1.3% | -39% | $105M |
| DHR | Danaher Corp | NEW | 1.3% | +100% | $108M |
| PYPL | Paypal Holdings Inc | ADD | 1.1% | +54% | $92M |
| INTU | Intuit Inc | NEW | 1.1% | +100% | $87M |
| MAR | Marriott International -cl A | TRIM | 0.1% | -92% | $7M |
| SAP | Sap Se-sponsored Adr | NEW | 1.1% | +100% | $86M |
| CNH | Cnh Indl N V | ADD | 1.0% | +49% | $80M |
| WAB | Wabtec Corp | TRIM | 0.6% | -27% | $51M |
| DELL | Dell Technologies -C | EXIT | 0.9% | -100% | $0 |
| GEHC | GE Healthcare Technology | NEW | 0.7% | +100% | $53M |
| N5505D105 | Magnum Ice Cream CO NV | ADD | 0.6% | +32% | $52M |
| KMI | Kinder Morgan Inc | EXIT | 0.6% | -100% | $0 |
| VBIL | Vanguard 0-3m T-bill Etf | ADD | 0.2% | +189% | $20M |
| GLD | Spdr Gold Shares | EXIT | 0.1% | -100% | $0 |
| FPAG | Fpa Global Equity Etf New | NEW | 0.1% | +100% | $6M |
| NATL | Ncr Atleos Corp | TRIM | <0.1% | -55% | $2M |
| VT | Vanguard Tot World Stk Etf | ADD | 0.1% | +26% | $5M |
| 30254T478 | Investment Managers Ser TR I | NEW | <0.1% | +100% | $4M |
| WLFC | Willis Lease Finance Corp | NEW | <0.1% | +100% | $3M |
| PARR | Par Pacific Holdings Inc | TRIM | <0.1% | -27% | $1M |
| FNV | Franco-nevada Corp | EXIT | <0.1% | -100% | $0 |
| CVX | Chevron Corp | EXIT | <0.1% | -100% | $0 |
| ROST | Ross Stores Inc | EXIT | <0.1% | -100% | $0 |
| TSLA | Tesla Inc | EXIT | <0.1% | -100% | $0 |
| DG | Dollar General Corp | EXIT | <0.1% | -100% | $0 |
| EMR | Emerson Electric CO | EXIT | <0.1% | -100% | $0 |
| ORLY | O'reilly Automotive Inc | EXIT | <0.1% | -100% | $0 |
| NVST | Envista Holdings Corp | EXIT | <0.1% | -100% | $0 |
| DIS | Walt Disney Co/the | EXIT | <0.1% | -100% | $0 |
| GWW | WW Grainger Inc | EXIT | <0.1% | -100% | $0 |
| HSIC | Henry Schein Inc | EXIT | <0.1% | -100% | $0 |
| MCD | Mcdonald's Corp | EXIT | <0.1% | -100% | $0 |
| CPAY | Corpay Inc | EXIT | <0.1% | -100% | $0 |
| SMG | Scotts Miracle-gro CO | EXIT | <0.1% | -100% | $0 |
| HYBB | Ishares BB Rated Corp Bond | ADD | <0.1% | +2525% | $174K |
| EBC | Eastern Bankshares Inc | EXIT | 0.0% | -100% | $0 |
- ADDAJG3.8%Arthur J Gallagher & COΔ +245%·$307M
- TRIMICLR1.3%Icon Pub Ltd COΔ -39%·$105M
- NEWDHR1.3%Danaher CorpΔ +100%·$108M
- ADDPYPL1.1%Paypal Holdings IncΔ +54%·$92M
- NEWINTU1.1%Intuit IncΔ +100%·$87M
- TRIMMAR0.1%Marriott International -cl AΔ -92%·$7M
- NEWSAP1.1%Sap Se-sponsored AdrΔ +100%·$86M
- ADDCNH1.0%Cnh Indl N VΔ +49%·$80M
- TRIMWAB0.6%Wabtec CorpΔ -27%·$51M
- EXITDELL0.9%Dell Technologies -CΔ -100%·$0
- NEWGEHC0.7%GE Healthcare TechnologyΔ +100%·$53M
- ADDN5505D1050.6%Magnum Ice Cream CO NVΔ +32%·$52M
- EXITKMI0.6%Kinder Morgan IncΔ -100%·$0
- ADDVBIL0.2%Vanguard 0-3m T-bill EtfΔ +189%·$20M
- EXITGLD0.1%Spdr Gold SharesΔ -100%·$0
- NEWFPAG0.1%Fpa Global Equity Etf NewΔ +100%·$6M
- TRIMNATL<0.1%Ncr Atleos CorpΔ -55%·$2M
- ADDVT0.1%Vanguard Tot World Stk EtfΔ +26%·$5M
- NEW30254T478<0.1%Investment Managers Ser TR IΔ +100%·$4M
- NEWWLFC<0.1%Willis Lease Finance CorpΔ +100%·$3M
- TRIMPARR<0.1%Par Pacific Holdings IncΔ -27%·$1M
- EXITFNV<0.1%Franco-nevada CorpΔ -100%·$0
- EXITCVX<0.1%Chevron CorpΔ -100%·$0
- EXITROST<0.1%Ross Stores IncΔ -100%·$0
- EXITTSLA<0.1%Tesla IncΔ -100%·$0
- EXITDG<0.1%Dollar General CorpΔ -100%·$0
- EXITEMR<0.1%Emerson Electric COΔ -100%·$0
- EXITORLY<0.1%O'reilly Automotive IncΔ -100%·$0
- EXITNVST<0.1%Envista Holdings CorpΔ -100%·$0
- EXITDIS<0.1%Walt Disney Co/theΔ -100%·$0
- EXITGWW<0.1%WW Grainger IncΔ -100%·$0
- EXITHSIC<0.1%Henry Schein IncΔ -100%·$0
- EXITMCD<0.1%Mcdonald's CorpΔ -100%·$0
- EXITCPAY<0.1%Corpay IncΔ -100%·$0
- EXITSMG<0.1%Scotts Miracle-gro COΔ -100%·$0
- ADDHYBB<0.1%Ishares BB Rated Corp BondΔ +2525%·$174K
- EXITEBC0.0%Eastern Bankshares IncΔ -100%·$0
About First Pacific Advisors
First Pacific Advisors (FPA) is a Los Angeles-based investment manager founded in 1954 whose domestic equity strategy has long been associated with a value-oriented, go-anywhere mandate — the firm will hold cash for extended periods when it cannot find attractively priced securities, a discipline that can produce significant tracking error against benchmarks in extended growth-driven markets. The 13F reflects a moderately concentrated book of roughly 85 positions, with the top five names — including ADI, GOOGL/GOOG, IFF, and META — accounting for about 31% of disclosed long equity value. Readers should note that FPA runs multiple distinct strategies (including the long-running FPA Crescent fund, which carries a flexible mandate with short-side exposure), so the 13F long-only snapshot understates the complexity of the actual book; net exposure, hedges, and fixed-income allocations are not visible here. The 12-year clone backtest showing roughly -1.4% annual excess versus SPY is consistent with the firm's historically cautious positioning and willingness to sacrifice upside capture for downside discipline.
2026Q2 brief
First Pacific Advisors deployed capital selectively across its 74-position, $8.08B book in Q2 2026, with the most dramatic move being a 244.7% add to AJG (Arthur J. Gallagher, now 3.8% of the portfolio) — a significant concentration increase in specialty insurance brokerage that reflects conviction in the hard insurance market cycle. FPA also initiated positions in DHR (1.3%), INTU (1.1%), and SAP (1.1%), adding blue-chip quality compounders across life sciences tools, fintech, and enterprise software. On the exit side, FPA shed DELL, KMI, commodity proxies GLD and FNV, CVX, and TSLA — a clean sweep of energy and cyclical/speculative names. ADI remains the top holding at 7.9%, and combined GOOGL/GOOG at ~12% reflects a familiar mega-cap anchor. The PYPL add (+53.7%, now 1.1%) is consistent with a broader fintech recovery bet. The throughline is quality and recurring-revenue businesses replacing cyclicals — a defensive tilt without abandoning growth. Watch whether AJG continues to grow toward a top-3 position, which would mark a rare, high-conviction sector concentration shift for this typically diversified manager.
AI-generated. Not investment advice.
Filing history
First Pacific Advisors's disclosed 13F portfolio value and position count by quarter — the trajectory across every SEC filing.
| Quarter | Positions | Portfolio value |
|---|---|---|
| Q2 2026 — what changed → | 75 | $8.09B |
| Q1 2026 — what changed → | 86 | $7.14B |
| Q4 2025 — what changed → | 64 | $7.60B |
| Q3 2025 — what changed → | 62 | $7.23B |
| Q2 2025 — what changed → | 63 | $6.99B |
| Q1 2025 — what changed → | 57 | $6.24B |
| Q4 2024 holdings | 57 | $7.00B |
| Q3 2024 holdings | 62 | $7.20B |
| Q2 2024 holdings | 74 | $7.39B |
| Q1 2024 holdings | 76 | $7.13B |
| Q4 2023 holdings | 81 | $6.68B |
| Q3 2023 holdings | 87 | $6.38B |
Values as disclosed at each quarter end. Older filings on EDGAR.
Manager evidence
12 material decisions, preserved in sequence.
See what First Pacific Advisors bought, added, trimmed, or exited across eight quarters—plus disclosure lag, SEC sources, and observed outcomes versus SPY. No guru grade.
Open First Pacific Advisors's decision evidence →Frequently asked questions
- What stocks does First Pacific Advisors own?
- As of 2026Q2, First Pacific Advisors's 13F discloses 74 positions worth $8.08B. The top five holdings: ADI (7.9%), GOOGL (6.2%), GOOG (5.8%), IFF (5.3%), C (5.2%). 13F filings cover long US-listed equities only — cash, bonds, shorts, and non-US positions are not disclosed.
- What did First Pacific Advisors buy this quarter?
- In 2026Q2, the filing shows 7 new positions and 7 additions to existing holdings. The largest positions touched by buying: AJG, DHR, PYPL, INTU, SAP.
- How big is First Pacific Advisors's portfolio?
- $8.08B across 74 positions per the latest 13F (filed Aug 14, 2026). The top five holdings account for 31% of the disclosed book.
Similar portfolios
Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0001377581). Not investment advice.