Insight into First Pacific Advisors (Trades, Portfolio)' Latest 13F Filing for Q2 2024
First Pacific Advisors (Trades, Portfolio), a prominent Los Angeles-based investment management firm known for its value investing strategy, recently disclosed its 13F holdings for the second quarter of 2024. The firm, which manages several funds including the FPA Capital Fund (Trades, Portfolio) and the FPA Crescent Fund, is recognized for its research-intensive process and focus on small- to mid-cap stocks. J. Richard Atwood, the firm’s Chief Financial Officer, oversees these strategies, aiming to concentrate on the most compelling investment opportunities without conforming to the broader market sentiment.
New Additions to the Portfolio
During the second quarter, First Pacific Advisors (Trades, Portfolio) expanded its portfolio by adding three new stocks:
- Vail Resorts Inc (MTN, Financial) was the most significant new addition with 346,784 shares, representing 0.86% of the portfolio and valued at approximately $62.47 million.
- Sotera Health Co (SHC, Financial) followed, with 45,480 shares making up about 0.01% of the portfolio, valued at $539,850.
- Metals Acquisition Ltd (MTAL, Financial) also joined the portfolio with 66,447 shares, accounting for another 0.01% and valued at $909,660.
Key Position Increases
First Pacific Advisors (Trades, Portfolio) also made significant increases to several of its existing positions:
- Bio-Rad Laboratories Inc (BIO, Financial) saw an addition of 55,813 shares, bringing the total to 160,552 shares. This increase of 53.29% in shares held represents a 0.21% impact on the current portfolio, with a total value of $43.85 million.
- NCR Voyix Corp (VYX, Financial) had an additional 824,008 shares, bringing the total to 3,455,892 shares. This adjustment represents a 31.31% increase in share count, with a total value of $42.68 million.
Positions Completely Exited
First Pacific Advisors (Trades, Portfolio) decided to exit several positions entirely in this quarter:
- The firm sold all 441,550 shares of Paramount Group Inc (PGRE, Financial), impacting the portfolio by -0.03%.
- All 216,944 shares of Metals Acquisition Ltd (MTAL.WS, Financial) were also liquidated, causing a -0.01% impact on the portfolio.
Significant Reductions in Holdings
Significant reductions were made in several key stocks:
- Broadcom Inc (AVGO, Financial) saw a reduction of 57,184 shares, a 40.24% decrease, impacting the portfolio by -1.08%. The stock traded at an average price of $140.14 during the quarter and has returned 16.20% over the past three months and 29.49% year-to-date.
- Howmet Aerospace Inc (HWM, Financial) was reduced by 499,009 shares, a 29.32% decrease, impacting the portfolio by -0.49%. The stock traded at an average price of $75.72 during the quarter and has returned 17.51% over the past three months and 67.55% year-to-date.
Portfolio Overview
As of the second quarter of 2024, First Pacific Advisors (Trades, Portfolio)'s portfolio included 70 stocks. The top holdings were 7.92% in Alphabet Inc (GOOGL, Financial), 6.76% in Analog Devices Inc (ADI, Financial), 6.66% in Meta Platforms Inc (META, Financial), 5.98% in Citigroup Inc (C, Financial), and 5.83% in Comcast Corp (CMCSA, Financial). The holdings are mainly concentrated across 11 industries, reflecting a diverse yet focused investment approach.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
