First Pacific Advisors (Steven Romick) latest 13F portfolio: 75 holdings worth $8.0B as of Q2 2026.
Backtested since 2020: mirroring First Pacific Advisors's reported 13F equity holdings each quarter would have returned +250.7% versus +189.1%for the S&P 500 (+21.8% annualized). See the Performance tab for the full equity curve.
Investor: Steven Romick
Number of Assets: 75
Reporting Period: Q2 - 2026
Holdings at Report: $7,965,350,969
Return $ Since Report: +$277,236,838
Return % Since Report: +3.48%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Southern Copper Corp. (SCCO) | Equity | +0.99% | 7,126 | 0.02% | $174.26 | $206.14 | $1,241,777 | $1,468,954 | +$227,177 | +18.29% |
| Uniti Group LLC (UNIT) | Equity | 0% | 25,235 | 0.00% | $11.47 | $9.57 | $289,445 | $241,499 | -$47,946 | -16.56% |
| Allegiant Travel Company (ALGT) | Equity | 0% | 34,186 | 0.05% | $117.60 | $81.66 | $4,020,274 | $2,791,629 | -$1,228,645 | -30.56% |
| Baidu Inc. (BIDU) | Equity | 0% | 3,421 | 0.00% | $114.29 | $92.43 | $390,986 | $316,203 | -$74,783 | -19.13% |
| Marriott International Inc. (MAR) | Equity | -92.08% | 18,445 | 0.09% | $370.59 | $348.06 | $6,835,533 | $6,419,967 | -$415,566 | -6.08% |
| Broadcom Inc. (AVGO) | Equity | +1.12% | 63,167 | 0.30% | $377.75 | $364.54 | $23,861,334 | $23,026,898 | -$834,436 | -3.50% |
| Investment Managers SER TR I (FPAG) | Equity | +100% | 145,470 | 0.07% | $40.14 | $41.86 | $5,839,733 | $6,089,374 | +$249,641 | +4.27% |
| Westinghouse Air Brake Technologies Corp. (WAB) | Equity | -27.49% | 189,045 | 0.64% | $269.60 | $289.71 | $50,966,532 | $54,768,227 | +$3,801,695 | +7.46% |
| Bio-Rad Laboratories Inc. (BIO) | Equity | -1.35% | 401,861 | 1.48% | $293.61 | $379.57 | $117,990,408 | $152,534,380 | +$34,543,972 | +29.28% |
| Ishares BB Rated Corporate Bond ETF (HYBB) | Equity | +2524.65% | 3,727 | 0.00% | $46.77 | $45.91 | $174,312 | $171,099 | -$3,213 | -1.84% |
| Par Pacific Holdings Inc. (PARR) | Equity | -27.35% | 23,720 | 0.02% | $56.08 | $79.11 | $1,330,218 | $1,876,489 | +$546,271 | +41.07% |
| Tidewater Inc. (TDW) | Equity | -7.42% | 76,423 | 0.06% | $66.63 | $87.16 | $5,092,064 | $6,661,029 | +$1,568,965 | +30.81% |
| Aersale Corp. (ASLE) | Equity | 0% | 208,726 | 0.02% | $6.32 | $5.54 | $1,319,148 | $1,156,342 | -$162,806 | -12.34% |
| Intuit Inc. (INTU) | Equity | +100% | 331,964 | 1.09% | $261.00 | $292.35 | $86,642,604 | $97,049,675 | +$10,407,071 | +12.01% |
| Echostar Corp. (SATS) | Equity | -49.96% | 47,066 | 0.06% | $101.50 | $95.36 | $4,777,199 | $4,488,214 | -$288,985 | -6.05% |
| Willis Lease Finance Corporation (WLFC) | Equity | +100% | 11,443 | 0.03% | $228.80 | $54.89 | $2,618,158 | $628,106 | -$1,990,052 | -76.01% |
| Vanguard Total World Stock Index Fund ETF Shares (VT) | Equity | +25.62% | 33,151 | 0.07% | $156.95 | $161.24 | $5,203,049 | $5,345,267 | +$142,218 | +2.73% |
| Rush Enterprises Inc. (RUSHA) | Equity | 0% | 129,094 | 0.12% | $72.99 | $48.27 | $9,421,926 | $6,231,367 | -$3,190,559 | -33.86% |
| Vanguard 0-3m T-bill ETF (vbil) (VBIL) | Equity | +188.69% | 260,280 | 0.25% | $75.68 | $75.65 | $19,697,990 | $19,690,182 | -$7,808 | -0.04% |
| Ferguson Enterprises Inc. (FERG) | Equity | -3.69% | 786,822 | 2.34% | $237.33 | $221.17 | $186,736,465 | $174,021,422 | -$12,715,043 | -6.81% |
| Stagwell Inc. (STGW) | Equity | 0% | 1,191,918 | 0.11% | $7.43 | $8.51 | $8,855,951 | $10,143,222 | +$1,287,271 | +14.54% |
| Jefferies Financial Group Inc. (JEF) | Equity | +4.55% | 2,704,265 | 1.70% | $49.98 | $47.39 | $135,159,165 | $128,155,118 | -$7,004,047 | -5.18% |
| Carmax Inc. (KMX) | Equity | +0.90% | 3,008,564 | 2.00% | $52.89 | $56.84 | $159,122,950 | $171,006,778 | +$11,883,828 | +7.47% |
| Fortune Brands Innovations Inc. (FBIN) | Equity | +0.87% | 3,825,269 | 2.64% | $54.90 | $40.22 | $210,007,268 | $153,852,319 | -$56,154,949 | -26.74% |
| Baxter International Inc. (BAX) | Equity | +13.69% | 7,618,145 | 2.04% | $21.32 | $23.68 | $162,418,851 | $180,397,674 | +$17,978,823 | +11.07% |
| Diageo PLC (DEO) | Equity | 0% | 1 | 0.00% | $80.00 | $87.37 | $80 | $87 | +$7 | +9.21% |
| Ncr Atleos Corp. (NATL) | Equity | -54.90% | 50,033 | 0.03% | $43.41 | $46.22 | $2,171,933 | $2,312,525 | +$140,592 | +6.47% |
| Pioneer Bancorp. Inc. (PBFS) | Equity | 0% | 166,974 | 0.04% | $17.07 | $17.99 | $2,850,246 | $3,003,862 | +$153,616 | +5.39% |
| Equipmentshare COM INC (EQPT) | Equity | 0% | 285,714 | 0.07% | $19.66 | $18.58 | $5,617,137 | $5,308,566 | -$308,571 | -5.49% |
| Lpl Financial Holdings Inc. (LPLA) | Equity | +0.19% | 321,244 | 1.14% | $281.68 | $307.50 | $90,488,010 | $98,782,530 | +$8,294,520 | +9.17% |
| Danaher Corp. (DHR) | Equity | +100% | 564,781 | 1.35% | $190.48 | $221.09 | $107,579,485 | $124,867,431 | +$17,287,946 | +16.07% |
| Aon PLC (AON) | Equity | -3.11% | 681,367 | 2.84% | $331.69 | $286.10 | $226,002,620 | $194,939,099 | -$31,063,521 | -13.74% |
| Maravai Lifesciences Holdings Inc. (MRVI) | Equity | 0% | 884,883 | 0.07% | $6.24 | $7.46 | $5,521,670 | $6,601,227 | +$1,079,557 | +19.55% |
| Alphabet Inc. (GOOG) | Equity | +0.00% | 1,333,205 | 5.91% | $353.33 | $347.41 | $471,061,323 | $463,168,749 | -$7,892,574 | -1.68% |
| Alphabet Inc. (GOOGL) | Equity | -16.33% | 1,408,518 | 6.32% | $357.37 | $351.16 | $503,362,078 | $494,615,181 | -$8,746,897 | -1.74% |
| Carlisle Companies Inc. (CSL) | Equity | 0% | 2,632 | 0.01% | $362.75 | $328.55 | $954,758 | $864,744 | -$90,014 | -9.43% |
| Netflix Inc. (NFLX) | Equity | 0% | 16,400 | 0.01% | $71.40 | $72.16 | $1,170,960 | $1,183,424 | +$12,464 | +1.06% |
| Upwork Inc. (UPWK) | Equity | 0% | 57,081 | 0.01% | $8.36 | $8.35 | $477,197 | $476,626 | -$571 | -0.12% |
| Investment Managers SER TR I (FPAS) | Equity | +100% | 146,775 | 0.05% | $24.70 | $24.04 | $3,626,018 | $3,527,737 | -$98,281 | -2.71% |
| Ponce Financial Group Inc. (PDLB) | Equity | 0% | 181,562 | 0.05% | $19.94 | $20.44 | $3,620,346 | $3,711,127 | +$90,781 | +2.51% |
| Reservoir Media Inc. (RSVR) | Equity | 0% | 308,747 | 0.04% | $9.89 | $9.57 | $3,053,508 | $2,954,709 | -$98,799 | -3.24% |
| NXP Semiconductors N.V. (NXPI) | Equity | -10.51% | 688,107 | 2.43% | $281.03 | $237.57 | $193,378,710 | $163,473,580 | -$29,905,130 | -15.46% |
| GE Healthcare Technologies Inc. (GEHC) | Equity | +100% | 827,379 | 0.66% | $64.01 | $66.27 | $52,960,530 | $54,830,406 | +$1,869,876 | +3.53% |
| Becton Dickinson And Company (BDX) | Equity | +6.58% | 2,110,794 | 4.01% | $151.33 | $183.00 | $319,426,456 | $386,275,302 | +$66,848,846 | +20.93% |
| Citigroup Inc. (C) | Equity | -4.99% | 3,016,828 | 5.30% | $139.96 | $132.47 | $422,235,247 | $399,639,205 | -$22,596,042 | -5.35% |
| Ncr Voyix Corp. (VYX) | Equity | +0.15% | 5,413,012 | 0.56% | $8.17 | $7.40 | $44,224,308 | $40,056,289 | -$4,168,019 | -9.42% |
| Douglas Emmett Inc. (DEI) | Equity | +1.24% | 8,743,999 | 1.30% | $11.80 | $10.37 | $103,179,188 | $90,675,270 | -$12,503,918 | -12.12% |
| Thermo Fisher Scientific Inc. (TMO) | Equity | +11.87% | 248,244 | 1.56% | $501.36 | $658.52 | $124,459,612 | $163,473,639 | +$39,014,027 | +31.35% |
| Waters Corp. (WAT) | Equity | +0.26% | 268,164 | 1.26% | $375.04 | $425.74 | $100,572,227 | $114,168,141 | +$13,595,914 | +13.52% |
| SAP SE (SAP) | Equity | +100% | 555,426 | 1.07% | $154.11 | $210.68 | $85,596,701 | $117,017,150 | +$31,420,449 | +36.71% |
| Meta Platforms Inc. (META) | Equity | -0.11% | 679,884 | 4.81% | $563.29 | $736.60 | $382,971,858 | $500,799,155 | +$117,827,297 | +30.77% |
| PG&E Corp. (PCG) | Equity | +0.92% | 1,172,695 | 0.25% | $16.82 | $12.88 | $19,724,730 | $15,104,312 | -$4,620,418 | -23.42% |
| Vail Resorts Inc. (MTN) | Equity | +10.93% | 1,304,959 | 2.23% | $136.15 | $138.98 | $177,670,168 | $181,363,202 | +$3,693,034 | +2.08% |
| Amazon.com Inc. (AMZN) | Equity | -3.93% | 1,360,585 | 4.07% | $238.34 | $254.98 | $324,281,829 | $346,921,963 | +$22,640,134 | +6.98% |
| Analog Devices Inc. (ADI) | Equity | -7.23% | 1,598,506 | 7.97% | $397.17 | $390.37 | $634,878,628 | $624,008,787 | -$10,869,841 | -1.71% |
| Magnum Ice Cream Co (MICC) | Equity | +31.78% | 2,971,716 | 0.65% | $17.41 | $19.32 | $51,737,576 | $57,413,553 | +$5,675,977 | +10.97% |
| CNH Industrial N.V. (CNH) | Equity | +48.64% | 7,148,586 | 1.01% | $11.23 | $13.67 | $80,278,621 | $97,721,171 | +$17,442,550 | +21.73% |
| Avantor Inc. (AVTR) | Equity | +1.26% | 8,190,740 | 1.02% | $9.90 | $14.94 | $81,088,326 | $122,369,656 | +$41,281,330 | +50.91% |
| Orion S.A (OEC) | Equity | 0% | 417,388 | 0.03% | $6.63 | $6.06 | $2,767,282 | $2,529,371 | -$237,911 | -8.60% |
| Icon Public Limited Company (ICLR) | Equity | -38.80% | 606,523 | 1.32% | $173.71 | $167.11 | $105,359,110 | $101,356,059 | -$4,003,051 | -3.80% |
| Uber Technologies Inc. (UBER) | Equity | +0.69% | 976,544 | 0.88% | $72.16 | $69.89 | $70,467,415 | $68,250,660 | -$2,216,755 | -3.15% |
| Arthur J. Gallagher & Co. (AJG) | Equity | +244.68% | 1,336,290 | 3.85% | $229.57 | $230.45 | $306,772,095 | $307,948,031 | +$1,175,936 | +0.38% |
| Te Connectivity PLC (TEL) | Equity | -6.04% | 1,551,105 | 3.93% | $201.61 | $213.48 | $312,718,279 | $331,129,895 | +$18,411,616 | +5.89% |
| Nov Inc. (NOV) | Equity | +1.13% | 6,392,388 | 1.49% | $18.55 | $20.18 | $118,578,797 | $128,998,390 | +$10,419,593 | +8.79% |
| Wells Fargo & Company (WFC) | Equity | -10.06% | 784,923 | 0.81% | $82.64 | $83.15 | $64,866,037 | $65,266,347 | +$400,310 | +0.62% |
| Paypal Holdings Inc. (PYPL) | Equity | +53.65% | 2,137,851 | 1.16% | $43.18 | $52.89 | $92,312,406 | $113,070,939 | +$20,758,533 | +22.49% |
| Amrize LTD (AMRZ) | Equity | +0.98% | 3,177,325 | 2.13% | $53.30 | $39.00 | $169,351,423 | $123,915,675 | -$45,435,748 | -26.83% |
| International Flavors & Fragrances Inc. (IFF) | Equity | +0.83% | 5,455,081 | 5.43% | $79.22 | $85.79 | $432,151,517 | $467,991,399 | +$35,839,882 | +8.29% |
| Vornado Realty Trust (VNO) | Equity | +0.19% | 1,683,761 | 0.83% | $39.30 | $35.28 | $66,171,807 | $59,403,088 | -$6,768,719 | -10.23% |
| Comcast Corp. (CMCSA) | Equity | +0.98% | 8,676,664 | 2.67% | $24.55 | $22.42 | $213,012,101 | $194,530,807 | -$18,481,294 | -8.68% |
| Liberty Broadband Corp. (LBRDK) | Equity | -0.02% | 4,641,753 | 1.94% | $33.26 | $36.02 | $154,384,705 | $167,195,943 | +$12,811,238 | +8.30% |
| Echostar Corporation (SATS) | Put | +100% | 47,000 | N/A | $101.50 | N/A | $4,770,500 | N/A | N/A | N/A |
| Marsh & Mclennan Companies Inc. (MMC) | Equity | +11.51% | 121,213 | 0.25% | $166.67 | $171.94 | $20,202,571 | $20,841,363 | +$638,792 | +3.16% |
| Wayfair Inc. | Bond | 0% | 4,934,000 | N/A | $0.98 | N/A | $4,859,541 | N/A | N/A | N/A |
| Echostar Corp. | Bond | 0% | 36,570,974 | N/A | $3.12 | N/A | $114,192,866 | N/A | N/A | N/A |