First Pacific Advisors (Steven Romick) latest 13F portfolio: 85 holdings worth $7.0B as of Q1 2026.
Backtested since 2020: mirroring First Pacific Advisors's reported 13F equity holdings each quarter would have returned +258.4% versus +188.3%for the S&P 500 (+22.7% annualized). See the Performance tab for the full equity curve.
Investor: Steven Romick
Number of Assets: 85
Reporting Period: Q1 - 2026
Holdings at Report: $7,004,260,537
Return $ Since Report: +$1,257,842,148
Return % Since Report: +17.96%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Alphabet Inc. (GOOG) | Equity | -1.22% | 1,333,157 | 5.46% | $286.86 | $353.47 | $382,429,417 | $471,231,005 | +$88,801,588 | +23.22% |
| Carmax Inc. (KMX) | Equity | +1.97% | 2,981,709 | 1.77% | $41.58 | $58.18 | $123,979,460 | $173,475,830 | +$49,496,370 | +39.92% |
| Citigroup Inc. (C) | Equity | -9.46% | 3,175,212 | 5.14% | $113.41 | $135.00 | $360,100,793 | $428,653,620 | +$68,552,827 | +19.04% |
| Comcast Corp. (CMCSA) | Equity | +2.29% | 8,592,563 | 3.52% | $28.71 | $25.36 | $246,692,484 | $217,907,398 | -$28,785,086 | -11.67% |
| Emerson Electric Co. (EMR) | Equity | +100% | 8,426 | 0.02% | $131.02 | $158.26 | $1,103,975 | $1,333,499 | +$229,524 | +20.79% |
| Envista Holdings Corp. (NVST) | Equity | +100% | 30,397 | 0.01% | $25.37 | $28.15 | $771,172 | $855,676 | +$84,504 | +10.96% |
| Equipmentshare COM INC (EQPT) | Equity | +100% | 285,714 | 0.08% | $20.37 | $20.46 | $5,819,994 | $5,845,708 | +$25,714 | +0.44% |
| Meta Platforms Inc. (META) | Equity | -3.06% | 680,613 | 5.56% | $572.13 | $592.10 | $389,399,116 | $402,990,957 | +$13,591,841 | +3.49% |
| Ferguson Enterprises Inc. (FERG) | Equity | -7.91% | 816,993 | 2.72% | $233.26 | $256.69 | $190,571,787 | $209,713,933 | +$19,142,146 | +10.04% |
| Fortune Brands Innovations Inc. (FBIN) | Equity | +7.60% | 3,792,230 | 2.11% | $38.97 | $50.78 | $147,783,203 | $192,569,439 | +$44,786,236 | +30.31% |
| Mcdonald'S Corp. (MCD) | Equity | +100% | 2,142 | 0.01% | $310.79 | $274.48 | $665,712 | $587,936 | -$77,776 | -11.68% |
| Ncr Voyix Corp. (VYX) | Equity | +7.28% | 5,405,082 | 0.49% | $6.33 | $8.25 | $34,214,169 | $44,591,927 | +$10,377,758 | +30.33% |
| Nov Inc. (NOV) | Equity | -21.91% | 6,320,758 | 1.70% | $18.81 | $19.65 | $118,893,458 | $124,202,895 | +$5,309,437 | +4.47% |
| Upwork Inc. (UPWK) | Equity | 0% | 57,081 | 0.01% | $10.96 | $9.67 | $625,608 | $551,973 | -$73,635 | -11.77% |
| Vornado Realty Trust (VNO) | Equity | +0.24% | 1,680,601 | 0.62% | $25.99 | $39.50 | $43,678,820 | $66,383,740 | +$22,704,919 | +51.98% |
| Baidu Inc. (BIDU) | Equity | +100% | 3,421 | 0.01% | $111.42 | $109.71 | $381,168 | $375,318 | -$5,850 | -1.53% |
| Baxter International Inc. (BAX) | Equity | +100% | 6,700,925 | 1.61% | $16.80 | $27.55 | $112,575,540 | $184,610,484 | +$72,034,944 | +63.99% |
| Becton Dickinson And Company (BDX) | Equity | +1.50% | 1,980,440 | 4.45% | $157.23 | $176.86 | $311,384,581 | $350,260,618 | +$38,876,037 | +12.48% |
| Bio-Rad Laboratories Inc. (BIO) | Equity | +1.47% | 407,358 | 1.62% | $278.75 | $352.47 | $113,551,043 | $143,581,474 | +$30,030,431 | +26.45% |
| Broadcom Inc. (AVGO) | Equity | -27.46% | 62,465 | 0.28% | $309.51 | $427.76 | $19,333,542 | $26,720,028 | +$7,386,486 | +38.21% |
| Carlisle Companies Inc. (CSL) | Equity | +100% | 2,632 | 0.01% | $333.62 | $387.49 | $878,088 | $1,019,874 | +$141,786 | +16.15% |
| Kinder Morgan Inc. (KMI) | Equity | -67.31% | 1,332,715 | 0.64% | $33.53 | $30.85 | $44,685,934 | $41,114,258 | -$3,571,676 | -7.99% |
| Ponce Financial Group Inc. (PDLB) | Equity | 0% | 181,562 | 0.04% | $16.71 | $20.07 | $3,033,901 | $3,643,949 | +$610,048 | +20.11% |
| Henry Schein Inc. (HSIC) | Equity | +100% | 9,914 | 0.01% | $73.70 | $88.13 | $730,662 | $873,721 | +$143,059 | +19.58% |
| The Scotts Miracle-Gro Company (SMG) | Equity | +100% | 7,357 | 0.01% | $60.81 | $62.91 | $447,379 | $462,829 | +$15,450 | +3.45% |
| Southern Copper Corp. (SCCO) | Equity | +100% | 7,056 | 0.02% | $172.06 | $199.06 | $1,214,055 | $1,404,567 | +$190,512 | +15.69% |
| Stagwell Inc. (STGW) | Equity | 0% | 1,191,918 | 0.11% | $6.29 | $9.17 | $7,497,164 | $10,929,888 | +$3,432,724 | +45.79% |
| Tesla Inc. (TSLA) | Equity | +100% | 3,000 | 0.02% | $371.75 | $328.58 | $1,115,250 | $985,740 | -$129,510 | -11.61% |
| Thermo Fisher Scientific Inc. (TMO) | Equity | +1.52% | 221,896 | 1.56% | $491.53 | $594.00 | $109,068,541 | $131,806,224 | +$22,737,683 | +20.85% |
| Tidewater Inc. (TDW) | Equity | -13.07% | 82,549 | 0.10% | $83.55 | $82.84 | $6,896,969 | $6,838,359 | -$58,610 | -0.85% |
| Allegiant Travel Company (ALGT) | Equity | 0% | 34,186 | 0.04% | $81.04 | $95.61 | $2,770,433 | $3,268,523 | +$498,090 | +17.98% |
| Diageo PLC (DEO) | Equity | +100% | 1 | 0.00% | $74.00 | $96.35 | $74 | $96 | +$22 | +30.20% |
| Marriott International Inc. (MAR) | Equity | -40.30% | 232,754 | 1.09% | $327.07 | $353.91 | $76,126,851 | $82,373,968 | +$6,247,117 | +8.21% |
| Reservoir Media Inc. (RSVR) | Equity | -6.17% | 308,747 | 0.04% | $9.79 | $10.12 | $3,022,633 | $3,124,520 | +$101,887 | +3.37% |
| Ross Stores Inc. (ROST) | Equity | +100% | 5,154 | 0.02% | $216.63 | $255.23 | $1,116,511 | $1,315,455 | +$198,944 | +17.82% |
| Rush Enterprises Inc. (RUSHA) | Equity | -12.83% | 129,094 | 0.12% | $66.11 | $80.08 | $8,534,404 | $10,337,848 | +$1,803,444 | +21.13% |
| SPDR Gold Shares (GLD) | Equity | +100% | 13,995 | 0.09% | $430.29 | $398.47 | $6,021,909 | $5,576,588 | -$445,321 | -7.40% |
| Alphabet Inc. (GOOGL) | Equity | -11.92% | 1,683,493 | 6.91% | $287.56 | $354.30 | $484,105,247 | $596,461,570 | +$112,356,323 | +23.21% |
| Amazon.com Inc. (AMZN) | Equity | +0.36% | 1,416,219 | 4.21% | $208.27 | $274.48 | $294,955,931 | $388,723,791 | +$93,767,860 | +31.79% |
| Analog Devices Inc. (ADI) | Equity | -8.09% | 1,723,135 | 7.83% | $318.14 | $389.93 | $548,198,169 | $671,902,031 | +$123,703,862 | +22.57% |
| Avantor Inc. (AVTR) | Equity | +103.82% | 8,089,023 | 0.91% | $7.84 | $13.59 | $63,417,940 | $109,929,823 | +$46,511,883 | +73.34% |
| Dell Technologies Inc. (DELL) | Equity | 0% | 382,985 | 0.90% | $164.13 | $453.77 | $62,859,328 | $173,787,103 | +$110,927,775 | +176.47% |
| Ncr Atleos Corp. (NATL) | Equity | -94.56% | 110,933 | 0.07% | $43.58 | $46.58 | $4,834,460 | $5,167,259 | +$332,799 | +6.88% |
| Uber Technologies Inc. (UBER) | Equity | +1.74% | 969,817 | 1.00% | $71.93 | $75.02 | $69,758,937 | $72,755,671 | +$2,996,734 | +4.30% |
| Uniti Group LLC (UNIT) | Equity | 0% | 25,235 | 0.00% | $9.38 | $9.54 | $236,704 | $240,742 | +$4,038 | +1.71% |
| Aersale Corp. (ASLE) | Equity | 0% | 208,726 | 0.02% | $6.22 | $5.90 | $1,298,276 | $1,231,483 | -$66,793 | -5.14% |
| Corpay Inc. (CPAY) | Equity | +100% | 2,147 | 0.01% | $290.99 | $392.94 | $624,756 | $843,642 | +$218,886 | +35.04% |
| Dollar General Corp. (DG) | Equity | +100% | 9,077 | 0.02% | $118.73 | $126.59 | $1,077,712 | $1,149,057 | +$71,345 | +6.62% |
| Douglas Emmett Inc. (DEI) | Equity | +32.29% | 8,636,970 | 1.16% | $9.42 | $11.69 | $81,360,257 | $100,966,179 | +$19,605,922 | +24.10% |
| Eastern Bankshares Inc. (EBC) | Equity | -99.90% | 83 | 0.00% | $19.55 | $22.84 | $1,623 | $1,896 | +$273 | +16.80% |
| Franco-Nevada Corp. (FNV) | Equity | +100% | 6,611 | 0.02% | $247.05 | $238.65 | $1,633,248 | $1,577,715 | -$55,533 | -3.40% |
| Arthur J. Gallagher & Co. (AJG) | Equity | +100% | 387,687 | 1.20% | $216.58 | $248.12 | $83,965,250 | $96,192,898 | +$12,227,648 | +14.56% |
| W.W. Grainger Inc. (GWW) | Equity | +100% | 669 | 0.01% | $1,090.81 | $1,277.55 | $729,752 | $854,681 | +$124,929 | +17.12% |
| International Flavors & Fragrances Inc. (IFF) | Equity | +1.57% | 5,409,925 | 5.60% | $72.55 | $85.89 | $392,490,059 | $464,658,458 | +$72,168,399 | +18.39% |
| Ishares BB Rated Corporate Bond ETF (HYBB) | Equity | -50.35% | 142 | 0.00% | $46.49 | $46.51 | $6,602 | $6,604 | +$2 | +0.04% |
| Jefferies Financial Group Inc. (JEF) | Equity | +0.24% | 2,586,501 | 1.52% | $41.27 | $56.62 | $106,744,896 | $146,447,687 | +$39,702,791 | +37.19% |
| Lpl Financial Holdings Inc. (LPLA) | Equity | -17.24% | 320,624 | 1.38% | $300.83 | $362.63 | $96,453,318 | $116,267,881 | +$19,814,563 | +20.54% |
| Liberty Broadband Corp. (LBRDK) | Equity | +73.92% | 4,642,610 | 3.33% | $50.30 | $35.88 | $233,523,283 | $166,576,847 | -$66,946,436 | -28.67% |
| Maravai Lifesciences Holdings Inc. (MRVI) | Equity | 0% | 884,883 | 0.04% | $2.83 | $6.23 | $2,504,219 | $5,512,821 | +$3,008,602 | +120.14% |
| O'Reilly Automotive Inc. (ORLY) | Equity | +100% | 8,355 | 0.01% | $92.31 | $93.53 | $771,250 | $781,443 | +$10,193 | +1.32% |
| PG&E Corp. (PCG) | Equity | +1.74% | 1,162,062 | 0.29% | $17.57 | $17.46 | $20,417,429 | $20,289,603 | -$127,826 | -0.63% |
| Par Pacific Holdings Inc. (PARR) | Equity | -25.31% | 32,651 | 0.03% | $62.64 | $66.29 | $2,045,259 | $2,164,435 | +$119,176 | +5.83% |
| Paypal Holdings Inc. (PYPL) | Equity | +100% | 1,391,409 | 0.90% | $45.23 | $59.07 | $62,933,429 | $82,190,530 | +$19,257,101 | +30.60% |
| Pioneer Bancorp. Inc. (PBFS) | Equity | 0% | 166,974 | 0.03% | $13.92 | $17.32 | $2,324,278 | $2,891,990 | +$567,712 | +24.43% |
| Vail Resorts Inc. (MTN) | Equity | +8.15% | 1,176,350 | 2.16% | $128.32 | $148.83 | $150,949,232 | $175,076,171 | +$24,126,939 | +15.98% |
| Vanguard 0-3m T-bill ETF (vbil) (VBIL) | Equity | +100% | 90,159 | 0.10% | $75.65 | $75.54 | $6,820,528 | $6,810,611 | -$9,917 | -0.15% |
| Westinghouse Air Brake Technologies Corp. (WAB) | Equity | -41.35% | 260,732 | 0.93% | $249.91 | $291.81 | $65,159,534 | $76,084,205 | +$10,924,671 | +16.77% |
| Waters Corp. (WAT) | Equity | +100% | 267,472 | 1.14% | $297.80 | $406.86 | $79,653,162 | $108,823,658 | +$29,170,496 | +36.62% |
| NXP Semiconductors N.V. (NXPI) | Equity | +0.34% | 768,915 | 2.16% | $196.86 | $239.71 | $151,368,607 | $184,316,615 | +$32,948,008 | +21.77% |
| Vanguard Total World Stock Index Fund ETF Shares (VT) | Equity | +33.67% | 26,390 | 0.05% | $138.32 | $161.30 | $3,650,265 | $4,256,707 | +$606,442 | +16.61% |
| Wells Fargo & Company (WFC) | Equity | -21.36% | 872,730 | 0.99% | $79.61 | $87.25 | $69,478,035 | $76,145,693 | +$6,667,657 | +9.60% |
| Aon PLC (AON) | Equity | +7.12% | 703,258 | 3.24% | $322.78 | $358.30 | $226,997,617 | $251,977,341 | +$24,979,724 | +11.00% |
| Icon Public Limited Company (ICLR) | Equity | +1.05% | 991,075 | 1.57% | $110.66 | $164.51 | $109,672,359 | $163,041,748 | +$53,369,389 | +48.66% |
| Te Connectivity PLC (TEL) | Equity | -7.25% | 1,650,857 | 4.93% | $209.02 | $216.33 | $345,062,130 | $357,129,895 | +$12,067,765 | +3.50% |
| Orion S.A (OEC) | Equity | 0% | 417,388 | 0.04% | $6.50 | $7.24 | $2,713,022 | $3,021,889 | +$308,867 | +11.38% |
| CNH Industrial N.V. (CNH) | Equity | +100% | 4,809,255 | 0.76% | $11.00 | $10.91 | $52,901,805 | $52,468,972 | -$432,833 | -0.82% |
| Magnum Ice Cream Co (MICC) | Equity | +32.84% | 2,255,110 | 0.48% | $14.95 | $19.27 | $33,713,894 | $43,455,970 | +$9,742,076 | +28.90% |
| Amrize LTD (AMRZ) | Equity | -7.68% | 3,146,383 | 2.52% | $56.02 | $46.64 | $176,260,376 | $146,747,303 | -$29,513,073 | -16.74% |
| Echostar Corp. | Bond | -6.97% | 36,570,974 | N/A | $3.57 | N/A | $130,635,176 | N/A | N/A | N/A |
| Marsh & Mclennan Companies Inc. (MMC) | Equity | +100% | 108,697 | 0.27% | $173.45 | $171.94 | $18,853,495 | $18,689,362 | -$164,133 | -0.87% |
| Echostar Corp. (SATS) | Equity | -60.63% | 94,066 | 0.16% | $117.07 | $103.92 | $11,012,307 | $9,774,868 | -$1,237,439 | -11.24% |
| Wayfair Inc. | Bond | 0% | 4,934,000 | N/A | $0.94 | N/A | $4,637,960 | N/A | N/A | N/A |
| Chevron Corp. (CVX) | Equity | +100% | 6,144 | 0.02% | $206.90 | $186.56 | $1,271,194 | $1,146,225 | -$124,969 | -9.83% |
| The Walt Disney Company (DIS) | Equity | +100% | 7,872 | 0.01% | $96.38 | $104.91 | $758,703 | $825,852 | +$67,149 | +8.85% |
| Netflix Inc. (NFLX) | Equity | 0% | 16,400 | 0.02% | $96.15 | $74.14 | $1,576,860 | $1,215,896 | -$360,964 | -22.89% |