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 +256.5% versus +186.6%for the S&P 500 (+22.6% 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: +$1,256,635,787
Return % Since Report: +17.94%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Reservoir Media Inc. (RSVR) | Equity | -6.17% | 308,747 | 0.04% | $9.79 | $10.29 | $3,022,633 | $3,177,007 | +$154,374 | +5.11% |
| 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 |
| Alphabet Inc. (GOOG) | Equity | -1.22% | 1,333,157 | 5.46% | $286.86 | $355.01 | $382,429,417 | $473,277,401 | +$90,847,984 | +23.76% |
| Carmax Inc. (KMX) | Equity | +1.97% | 2,981,709 | 1.77% | $41.58 | $58.58 | $123,979,460 | $174,668,513 | +$50,689,053 | +40.89% |
| Chevron Corp. (CVX) | Equity | +100% | 6,144 | 0.02% | $206.90 | $186.56 | $1,271,194 | $1,146,225 | -$124,969 | -9.83% |
| Citigroup Inc. (C) | Equity | -9.46% | 3,175,212 | 5.14% | $113.41 | $134.39 | $360,100,793 | $426,716,741 | +$66,615,948 | +18.50% |
| Comcast Corp. (CMCSA) | Equity | +2.29% | 8,592,563 | 3.52% | $28.71 | $25.35 | $246,692,484 | $217,778,509 | -$28,913,975 | -11.72% |
| Emerson Electric Co. (EMR) | Equity | +100% | 8,426 | 0.02% | $131.02 | $159.15 | $1,103,975 | $1,340,956 | +$236,981 | +21.47% |
| Envista Holdings Corp. (NVST) | Equity | +100% | 30,397 | 0.01% | $25.37 | $28.38 | $771,172 | $862,667 | +$91,495 | +11.86% |
| Equipmentshare COM INC (EQPT) | Equity | +100% | 285,714 | 0.08% | $20.37 | $20.43 | $5,819,994 | $5,837,137 | +$17,143 | +0.29% |
| Meta Platforms Inc. (META) | Equity | -3.06% | 680,613 | 5.56% | $572.13 | $592.67 | $389,399,116 | $403,378,907 | +$13,979,791 | +3.59% |
| Ferguson Enterprises Inc. (FERG) | Equity | -7.91% | 816,993 | 2.72% | $233.26 | $260.37 | $190,571,787 | $212,720,467 | +$22,148,680 | +11.62% |
| Fortune Brands Innovations Inc. (FBIN) | Equity | +7.60% | 3,792,230 | 2.11% | $38.97 | $51.83 | $147,783,203 | $196,532,320 | +$48,749,117 | +32.99% |
| Mcdonald'S Corp. (MCD) | Equity | +100% | 2,142 | 0.01% | $310.79 | $276.34 | $665,712 | $591,910 | -$73,802 | -11.09% |
| Ncr Voyix Corp. (VYX) | Equity | +7.28% | 5,405,082 | 0.49% | $6.33 | $8.44 | $34,214,169 | $45,591,867 | +$11,377,698 | +33.25% |
| Nov Inc. (NOV) | Equity | -21.91% | 6,320,758 | 1.70% | $18.81 | $19.84 | $118,893,458 | $125,403,839 | +$6,510,381 | +5.48% |
| Upwork Inc. (UPWK) | Equity | 0% | 57,081 | 0.01% | $10.96 | $9.80 | $625,608 | $559,394 | -$66,214 | -10.58% |
| Vornado Realty Trust (VNO) | Equity | +0.24% | 1,680,601 | 0.62% | $25.99 | $39.63 | $43,678,820 | $66,593,815 | +$22,914,995 | +52.46% |
| Baidu Inc. (BIDU) | Equity | +100% | 3,421 | 0.01% | $111.42 | $109.46 | $381,168 | $374,463 | -$6,705 | -1.76% |
| Baxter International Inc. (BAX) | Equity | +100% | 6,700,925 | 1.61% | $16.80 | $27.29 | $112,575,540 | $182,834,739 | +$70,259,199 | +62.41% |
| Becton Dickinson And Company (BDX) | Equity | +1.50% | 1,980,440 | 4.45% | $157.23 | $176.73 | $311,384,581 | $350,003,161 | +$38,618,580 | +12.40% |
| Bio-Rad Laboratories Inc. (BIO) | Equity | +1.47% | 407,358 | 1.62% | $278.75 | $346.61 | $113,551,043 | $141,192,320 | +$27,641,277 | +24.34% |
| Broadcom Inc. (AVGO) | Equity | -27.46% | 62,465 | 0.28% | $309.51 | $425.97 | $19,333,542 | $26,608,216 | +$7,274,674 | +37.63% |
| Carlisle Companies Inc. (CSL) | Equity | +100% | 2,632 | 0.01% | $333.62 | $390.05 | $878,088 | $1,026,598 | +$148,510 | +16.91% |
| Kinder Morgan Inc. (KMI) | Equity | -67.31% | 1,332,715 | 0.64% | $33.53 | $30.83 | $44,685,934 | $41,087,603 | -$3,598,331 | -8.05% |
| Ponce Financial Group Inc. (PDLB) | Equity | 0% | 181,562 | 0.04% | $16.71 | $19.94 | $3,033,901 | $3,620,346 | +$586,445 | +19.33% |
| Henry Schein Inc. (HSIC) | Equity | +100% | 9,914 | 0.01% | $73.70 | $88.74 | $730,662 | $879,719 | +$149,057 | +20.40% |
| The Scotts Miracle-Gro Company (SMG) | Equity | +100% | 7,357 | 0.01% | $60.81 | $64.31 | $447,379 | $473,092 | +$25,713 | +5.75% |
| Southern Copper Corp. (SCCO) | Equity | +100% | 7,056 | 0.02% | $172.06 | $197.01 | $1,214,055 | $1,390,067 | +$176,012 | +14.50% |
| Stagwell Inc. (STGW) | Equity | 0% | 1,191,918 | 0.11% | $6.29 | $9.38 | $7,497,164 | $11,180,191 | +$3,683,027 | +49.13% |
| Tesla Inc. (TSLA) | Equity | +100% | 3,000 | 0.02% | $371.75 | $327.22 | $1,115,250 | $981,660 | -$133,590 | -11.98% |
| Thermo Fisher Scientific Inc. (TMO) | Equity | +1.52% | 221,896 | 1.56% | $491.53 | $585.72 | $109,068,541 | $129,968,925 | +$20,900,384 | +19.16% |
| Tidewater Inc. (TDW) | Equity | -13.07% | 82,549 | 0.10% | $83.55 | $81.61 | $6,896,969 | $6,736,824 | -$160,145 | -2.32% |
| Allegiant Travel Company (ALGT) | Equity | 0% | 34,186 | 0.04% | $81.04 | $95.09 | $2,770,433 | $3,250,747 | +$480,314 | +17.34% |
| Diageo PLC (DEO) | Equity | +100% | 1 | 0.00% | $74.00 | $96.68 | $74 | $97 | +$23 | +30.65% |
| The Walt Disney Company (DIS) | Equity | +100% | 7,872 | 0.01% | $96.38 | $104.91 | $758,703 | $825,852 | +$67,149 | +8.85% |
| Marriott International Inc. (MAR) | Equity | -40.30% | 232,754 | 1.09% | $327.07 | $357.78 | $76,126,851 | $83,274,726 | +$7,147,875 | +9.39% |
| Ross Stores Inc. (ROST) | Equity | +100% | 5,154 | 0.02% | $216.63 | $254.74 | $1,116,511 | $1,312,930 | +$196,419 | +17.59% |
| Rush Enterprises Inc. (RUSHA) | Equity | -12.83% | 129,094 | 0.12% | $66.11 | $80.71 | $8,534,404 | $10,419,177 | +$1,884,773 | +22.08% |
| SPDR Gold Shares (GLD) | Equity | +100% | 13,995 | 0.09% | $430.29 | $398.77 | $6,021,909 | $5,580,786 | -$441,123 | -7.33% |
| Alphabet Inc. (GOOGL) | Equity | -11.92% | 1,683,493 | 6.91% | $287.56 | $355.94 | $484,105,247 | $599,222,498 | +$115,117,251 | +23.78% |
| Amazon.com Inc. (AMZN) | Equity | +0.36% | 1,416,219 | 4.21% | $208.27 | $276.41 | $294,955,931 | $391,457,094 | +$96,501,163 | +32.72% |
| Analog Devices Inc. (ADI) | Equity | -8.09% | 1,723,135 | 7.83% | $318.14 | $389.07 | $548,198,169 | $670,411,519 | +$122,213,350 | +22.29% |
| Avantor Inc. (AVTR) | Equity | +103.82% | 8,089,023 | 0.91% | $7.84 | $13.47 | $63,417,940 | $108,959,140 | +$45,541,200 | +71.81% |
| Dell Technologies Inc. (DELL) | Equity | 0% | 382,985 | 0.90% | $164.13 | $427.27 | $62,859,328 | $163,638,001 | +$100,778,673 | +160.32% |
| Ncr Atleos Corp. (NATL) | Equity | -94.56% | 110,933 | 0.07% | $43.58 | $46.75 | $4,834,460 | $5,186,118 | +$351,658 | +7.27% |
| Uber Technologies Inc. (UBER) | Equity | +1.74% | 969,817 | 1.00% | $71.93 | $75.02 | $69,758,937 | $72,750,822 | +$2,991,885 | +4.29% |
| Uniti Group LLC (UNIT) | Equity | 0% | 25,235 | 0.00% | $9.38 | $9.53 | $236,704 | $240,490 | +$3,786 | +1.60% |
| Aersale Corp. (ASLE) | Equity | 0% | 208,726 | 0.02% | $6.22 | $5.85 | $1,298,276 | $1,221,047 | -$77,229 | -5.95% |
| Corpay Inc. (CPAY) | Equity | +100% | 2,147 | 0.01% | $290.99 | $400.44 | $624,756 | $859,734 | +$234,978 | +37.61% |
| Dollar General Corp. (DG) | Equity | +100% | 9,077 | 0.02% | $118.73 | $127.00 | $1,077,712 | $1,152,779 | +$75,067 | +6.97% |
| Douglas Emmett Inc. (DEI) | Equity | +32.29% | 8,636,970 | 1.16% | $9.42 | $11.71 | $81,360,257 | $101,138,919 | +$19,778,662 | +24.31% |
| Eastern Bankshares Inc. (EBC) | Equity | -99.90% | 83 | 0.00% | $19.55 | $22.96 | $1,623 | $1,906 | +$283 | +17.42% |
| Franco-Nevada Corp. (FNV) | Equity | +100% | 6,611 | 0.02% | $247.05 | $240.46 | $1,633,248 | $1,589,681 | -$43,567 | -2.67% |
| Arthur J. Gallagher & Co. (AJG) | Equity | +100% | 387,687 | 1.20% | $216.58 | $251.78 | $83,965,250 | $97,609,894 | +$13,644,644 | +16.25% |
| W.W. Grainger Inc. (GWW) | Equity | +100% | 669 | 0.01% | $1,090.81 | $1,292.24 | $729,752 | $864,509 | +$134,757 | +18.47% |
| International Flavors & Fragrances Inc. (IFF) | Equity | +1.57% | 5,409,925 | 5.60% | $72.55 | $85.27 | $392,490,059 | $461,304,305 | +$68,814,246 | +17.53% |
| Ishares BB Rated Corporate Bond ETF (HYBB) | Equity | -50.35% | 142 | 0.00% | $46.49 | $46.51 | $6,602 | $6,604 | +$2 | +0.03% |
| Jefferies Financial Group Inc. (JEF) | Equity | +0.24% | 2,586,501 | 1.52% | $41.27 | $56.36 | $106,744,896 | $145,775,196 | +$39,030,300 | +36.56% |
| Lpl Financial Holdings Inc. (LPLA) | Equity | -17.24% | 320,624 | 1.38% | $300.83 | $358.42 | $96,453,318 | $114,916,451 | +$18,463,133 | +19.14% |
| Liberty Broadband Corp. (LBRDK) | Equity | +73.92% | 4,642,610 | 3.33% | $50.30 | $36.26 | $233,523,283 | $168,341,039 | -$65,182,244 | -27.91% |
| Maravai Lifesciences Holdings Inc. (MRVI) | Equity | 0% | 884,883 | 0.04% | $2.83 | $5.83 | $2,504,219 | $5,154,443 | +$2,650,224 | +105.83% |
| Netflix Inc. (NFLX) | Equity | 0% | 16,400 | 0.02% | $96.15 | $74.14 | $1,576,860 | $1,215,896 | -$360,964 | -22.89% |
| O'Reilly Automotive Inc. (ORLY) | Equity | +100% | 8,355 | 0.01% | $92.31 | $93.03 | $771,250 | $777,266 | +$6,016 | +0.78% |
| PG&E Corp. (PCG) | Equity | +1.74% | 1,162,062 | 0.29% | $17.57 | $17.23 | $20,417,429 | $20,016,518 | -$400,911 | -1.96% |
| Par Pacific Holdings Inc. (PARR) | Equity | -25.31% | 32,651 | 0.03% | $62.64 | $66.13 | $2,045,259 | $2,159,047 | +$113,788 | +5.56% |
| Paypal Holdings Inc. (PYPL) | Equity | +100% | 1,391,409 | 0.90% | $45.23 | $59.85 | $62,933,429 | $83,275,829 | +$20,342,400 | +32.32% |
| Pioneer Bancorp. Inc. (PBFS) | Equity | 0% | 166,974 | 0.03% | $13.92 | $17.34 | $2,324,278 | $2,895,329 | +$571,051 | +24.57% |
| Vail Resorts Inc. (MTN) | Equity | +8.15% | 1,176,350 | 2.16% | $128.32 | $149.21 | $150,949,232 | $175,523,184 | +$24,573,952 | +16.28% |
| Vanguard 0-3m T-bill ETF (vbil) (VBIL) | Equity | +100% | 90,159 | 0.10% | $75.65 | $75.54 | $6,820,528 | $6,810,701 | -$9,827 | -0.14% |
| Westinghouse Air Brake Technologies Corp. (WAB) | Equity | -41.35% | 260,732 | 0.93% | $249.91 | $293.93 | $65,159,534 | $76,635,653 | +$11,476,119 | +17.61% |
| Waters Corp. (WAT) | Equity | +100% | 267,472 | 1.14% | $297.80 | $400.67 | $79,653,162 | $107,168,006 | +$27,514,844 | +34.54% |
| NXP Semiconductors N.V. (NXPI) | Equity | +0.34% | 768,915 | 2.16% | $196.86 | $238.53 | $151,368,607 | $183,409,295 | +$32,040,688 | +21.17% |
| Vanguard Total World Stock Index Fund ETF Shares (VT) | Equity | +33.67% | 26,390 | 0.05% | $138.32 | $161.09 | $3,650,265 | $4,251,033 | +$600,768 | +16.46% |
| Wells Fargo & Company (WFC) | Equity | -21.36% | 872,730 | 0.99% | $79.61 | $86.88 | $69,478,035 | $75,822,782 | +$6,344,747 | +9.13% |
| Aon PLC (AON) | Equity | +7.12% | 703,258 | 3.24% | $322.78 | $360.49 | $226,997,617 | $253,518,180 | +$26,520,563 | +11.68% |
| Icon Public Limited Company (ICLR) | Equity | +1.05% | 991,075 | 1.57% | $110.66 | $164.10 | $109,672,359 | $162,630,452 | +$52,958,093 | +48.29% |
| Te Connectivity PLC (TEL) | Equity | -7.25% | 1,650,857 | 4.93% | $209.02 | $216.38 | $345,062,130 | $357,204,183 | +$12,142,053 | +3.52% |
| Orion S.A (OEC) | Equity | 0% | 417,388 | 0.04% | $6.50 | $7.19 | $2,713,022 | $3,001,020 | +$287,998 | +10.62% |
| CNH Industrial N.V. (CNH) | Equity | +100% | 4,809,255 | 0.76% | $11.00 | $11.02 | $52,901,805 | $52,973,944 | +$72,139 | +0.14% |
| Magnum Ice Cream Co (MICC) | Equity | +32.84% | 2,255,110 | 0.48% | $14.95 | $19.13 | $33,713,894 | $43,128,979 | +$9,415,085 | +27.93% |
| Amrize LTD (AMRZ) | Equity | -7.68% | 3,146,383 | 2.52% | $56.02 | $47.36 | $176,260,376 | $149,012,699 | -$27,247,677 | -15.46% |