First Pacific Advisors

First Pacific Advisors

Last Update: 2014-05-14
Related: Steven Romick
Robert Rodriguez

Number of Stocks: 139
Number of New Stocks: 13

Total Value: $11,441 Mil
Q/Q Turnover: 6%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

First Pacific Advisors' s Profile & Performance

Profile

Robert L. Rodriguez, CFA is the Chief Executive Officer of FPA Capital. The firm offers these products:

Mutual Fund Investors

# FPA Capital Fund, Inc.
# FPA Crescent Fund
# FPA New Income, Inc.
# FPA Paramount Fund, Inc.
# FPA Perennial Fund, Inc.
# Source Capital, Inc.


Web Page:http://www.fpafunds.com/

Investing Philosophy

# Small/mid-capitalization focus
# Value oriented
# Research-intensive process
# Capitalize on best ideas with concentrated portfolios
# Limit asset growth to maximize long-term investment returns

Total Holding History

Top Ranked Articles

FPA Capital Fund Quarterly Commentary
Portfolio Commentary Read more...
First Pacific Advisors and Robert Rodriguez's Top Stocks: RDC, ESV, ROSE, ARW, AVT
First Pacific Advisors (FPA) is an investment management firm located in Los Angeles, Calif. With over $16.17 billion under management, FPA utilizes four primary strategies: absolute value, quality value, contrarian, and fixed income. Those strategies are then utilized in several of First Pacific’s funds, ranging from the small and mid-cap oriented Capital Fund, to the New Fixed Income fund. One fund in particular, the Capital Fund, has assets of $1.4 billion under management. This fund has been in operation since July 1984, and is led by Robert Rodriguez, a CFA charter holder who earned his BS and MBA from the University of Southern California. Read more...
Bob Rodriguez – Memo to FPA Colleagues on European Debt Crisis
Dear Colleagues, I was up very late last night watching measures of European short term funding go to the highest levels seen since March 2009 during the last financial crisis. Had they risen about 2 basis points higher, we would have broken into a new and dangerous zone. Along with several bank downgrades after the close yesterday, this was shaping up to be a potentially serious day. A Forbes article today, “Big European Bank Failure Averted: What Central Banks Did Not Tell Us”, confirms that a major bank was having difficulty funding liquidity needs. Read more...
First Pacific Advisors Buys Lowes Cos., Aon Corp., Cit Group Inc., Sells Abbott Laboratories, Amgen Inc., Ebay Inc.
First Pacific Advisors (FPA) is an investment management firm located in Los Angeles, Calif. With over $16.17 billion under management, FPA utilizes four primary strategies: absolute value, quality value, contrarian, and fixed income. Those strategies are then utilized in several of First Pacific’s funds, ranging from the small and mid-cap oriented Capital Fund, to the New Fixed Income fund. One fund in particular, the Capital Fund, has assets of $1.4 billion under management. This fund has been in operation since July 1984, and is led by its CEO Robert Rodriguez. Steven Romick, another excellent value manager, manages FPA Crescent Fund. Both of them have built outstanding long term track record. Read more...
Insider Buys Reported in Ares as Price and P/B Ratio Hit Lows
As Ares Commercial Real Estate (ACRE) has dropped to a 52-week low price and historical low P/B ratio and announced a public offering, several of the company’s insiders have taken the opportunity to buy their own shares into the company. To paraphrase Peter Lynch’s popular quote — insiders only spend their own money when they think the stock price is soon to rise. Read more...
» More First Pacific Advisors Articles

Commentaries and Stories

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Guru Held Stocks Trading At Deep Discounts To Graham Number Bruce Berkowitz,First Pacific Advisors - Guru Held Stocks Trading At Deep Discounts To Graham Number
At GuruFocus, we have a conservative valuation measurement called the Graham Number. The calculation of the number is: More...

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Highest Yielding Stocks Widely Held By The Gurus
I used the GuruFocus All-In-One Screener to find stocks with the highest dividend yields owned by the gurus. I wanted a consensus opinion that the stock was worth owning, so I narrowed my search to only display stocks that were held by at least five gurus. Below are the results: More...

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Rating: 3.0/5 (1 vote)

AGCO: Undervalued and On Your List
When a famous investing guru such as Martin Whitman (Trades, Portfolio), founder of Third Avenue Value Fund makes any move, it behooves the smartest of investors to watch where this great investor is headed. Whitman is not only a value investor emphasizing a buy and hold technique, he specializes in distressed companies. Every investor should include a copy of Whitman’s book entitled, “Distress Investing, Principles and Techniques”. You will not be disappointed. More...

MARTIN WHITMAN


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First Pacific Advisors' First Quarter Top Five Holdings First Pacific Advisors - First Pacific Advisors' First Quarter Top Five Holdings
First Pacific Advisors Capital Fund and the FPA New Income Fund, reported their first quarter portfolio holdings earlier this week. FPA Capital primarily invests in the stocks of smaller companies, and according to his investing philosophy they base their investments on the following criteria: strong balance sheets, free cash flow, an understandable and successful business strategy under capable management and unique business characteristics. More...

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Rating: 5.0/5 (1 vote)

Gurus Confirm Analysts’ Opinion on Rowan Companies
With the gas boom coming to a stall in North America, many companies are confrontoing a slowdown in the demand for their services. While some companies have found a way to curb market trends and readapt, others continue to struggle. Firms that have specialized in unconventional gas exploration and production are now in need of finding new shale to exploit, or perish under market pressure. Many have looked at Vaca Muerta in Argentina as an opportunity to balance accounts, but not all have been fortunate enough to enter this restricted market. Rowan Companies (RDC) is one businesses that continues to struggle, and if guided by gurus’ transactions, prospects for growth remain grim. More...

ENERGY, OFFSHORE, RIGS


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Rating: 5.0/5 (3 votes)

Applying the Dividend Discount Model to Cisco Systems
Cisco Systems Inc. (CSCO) is the world's largest supplier of high-performance computer networking systems. The firm continues strengthening its focus on corporate software and technology services, which we see as a main driver in the current years. More...

LONG, TECH, DDM, COMMUNICATIONS, SYSTEMS, NETWORK


  • Currently 5.00/5

Rating: 5.0/5 (3 votes)

Do Gurus’ Transactions Predict Joy’s Strong Performance in the Long Term?
The mining sector continues to be under pressure since the last economic crisis as prices for mined commodities entered a downtrend in the second quarter of 2011. So far, prices for most precious and base metals, and steel raw materials seem to have stabilized throughout 2013. However, they are all far from recovering the lost ground as demand continues comparatively low, and activity in related industries slowly recovers. One of the most affected industries has been mining equipment, doubled whammed by a decline in new equipment purchases and original parts replacement. Joy Global (JOY) has not been the exception, but gurus have increased their holdings during the last quarter of 2013. Can you expect to be fortunate in the long term? More...

LONG, HEAVY, MACHINERY


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Rating: 4.7/5 (7 votes)

Aluminum Demand and Pricing Poised to Recover from Great Lows - Excellent News for Stanley Druckenmiller
Over the past days hedge funds have been filing their form 13-F, which is a quarterly report of equity holdings by filed institutional investment managers with at least $100 million in equity assets under management, as required by the United States Securities and Exchange Commission (SEC). In this article, let´s concentrate in one particular hedge fund and try to see the principal holdings in its portfolio. I will look into Duquesne Family Office LLC from Stanley Druckenmiller, who closed his Duquesne Capital Management hedge fund in 2010, returned capital to investors, and converted it into a family office managing his personal fortune. More...

LONG, FUNDS, HOLDINGS, DUQUESNE, ALUMINUM


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Rating: 3.7/5 (3 votes)

GuruFocus' Weekly Top Dividend Growers First Pacific Advisors,James Barrow - GuruFocus' Weekly Top Dividend Growers
During the past week, GuruFocus recognized three companies as dividend growers. In order to be qualified for this list, the company had to: More...

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Rating: 5.0/5 (2 votes)

Do You Know Why Jim Simons Drills for Oil & Gas?
In a previous article I mentioned that current political turmoil in the Middle East has affected oil & gas producers’ preferences. In short, technological developments have made other regions more attractive than they were in the past. For example, unconventional reserves have become available with the introduction of fracking. Also, equipment innovation made production at greater depths possible. So, have Ensco (ESV) and Nabors Industries (NBR) incorporated these new technologies and absorbed new market synergies? More...

ENERGY, DRILL, OFFSHORE, ONSHORE


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FPA Capital's Third Quarter Top Five Stocks
First Pacific Advisors Capital Fund and the FPA New Income Fund, reported their third quarter portfolio holdings earlier today. FPA Capital primarily invests in the stocks of smaller companies, and according to his investing philosophy they base their investments on the following criteria: strong balance sheets, free cash flow, an understandable and successful business strategy under capable management and unique business characteristics. More...

  • Currently 2.83/5

Rating: 2.8/5 (6 votes)

‘Biggest Losers’ Update – WPO, OI, HST
Over 12 months, Washington Post Company (WPO) is up 71%, Owens-Illinois Inc. (OI) is up 49% and Host Hotels & Resorts Inc. (HST) is up 14% but all three companies are among the ‘Biggest Losers’ in the S&P 500. More...

EDUCATION & TRAINING SERVICES COMPANY, PACKAGING & CONTAINERS, INSURANCE – DIVERSIFIED, REIT – HOTEL & MOTEL


  • Currently 2.25/5

Rating: 2.3/5 (4 votes)

First Pacific Advisors’ Major Selling and Reductions in Second Quarter
First Pacific Advisors was actively selling in the second quarter of 2013. The current portfolio shows 122 stocks, seven of them new, and a total value of $9.38 billion. The firm has a quarter-over-quarter turnover of 4%. These are all of First Pacific Advisors’ reductions and sell outs as of June 30, 2013. More...

PACKAGED FOODS, MEDICAL CARE, INSURANCE – PROPERTY & CASUALTY, DATA STORAGE, OIL & GAS DRILLING, SPECIALTY RETAIL, DIVERSIFIED INDUSTRIALS, HEALTH CARE PLANS, MEDICAL CARE, BUSINESS EQUIPMENT, SPECI


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FPA Capital Q2 2013 Portfolio Commentary and Outlook
Despite the market's positive returns during the quarter, stocks experienced increased volatility. The first half of the quarter the market was up mid-single digits, but the latter half had the market giving back much of the appreciation. Furthermore, the CBOE's (Chicago Board of Options Exchange) Volatility Indexi , commonly referred to as the VIX Index, increased over 40% during the quarter. What accounts for this increased volatility? In our opinion it is because investors fear the Federal Reserve's ultra-loose monetary policy may start to taper off later this year or early next year, and less liquidity might have negative influences on the capital markets. More...

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Rating: 2.6/5 (5 votes)

Update from FPA Capital - Seven Changes to Portfolio
As of June 30, 2013, the updated portfolio of First Pacific Advisors (FPA) Capital Fund, managed by Dennis Bryan and Rikard Ekstrand, lists 27 stocks, none of them new, with a total value of $803 million and a quarter-over-quarter turnover of 3%. According to GuruFocus research, FPA Capital added or reduced the following holdings as of the second quarter of 2013. Here are the details of the trades, as of June 30, 2013. More...

EDUCATION & TRAINING SERVICES, COMMUNICATION EQUIPMENT, OIL & GAS DRILLING DATA STORAGE, TRUCK MANUFACTURER, SEMICONDUCTOR EQUIPMENT & MATERIALS


  • Currently 3.75/5

Rating: 3.8/5 (4 votes)

Insider Buys Reported in Ares as Price and P/B Ratio Hit Lows
As Ares Commercial Real Estate (ACRE) has dropped to a 52-week low price and historical low P/B ratio and announced a public offering, several of the company’s insiders have taken the opportunity to buy their own shares into the company. To paraphrase Peter Lynch’s popular quote — insiders only spend their own money when they think the stock price is soon to rise. More...

  • Currently 2.33/5

Rating: 2.3/5 (3 votes)

First Pacific Advisors Buys ROSE, CFN, HNT, Sells ESV, PETM, WMT
First Pacific Advisors is a highly respected value shop run by the legendary Bob Rodriguez. Unlike many pure bottom-up value shops, FPA pays close attention to macro picture. Their view of macro pictures helps them to understand better on the sustainability of the profit of the companies they are interested. More...

  • Currently 2.57/5

Rating: 2.6/5 (7 votes)

First Pacific Advisors’ Top New Buys
First Pacific Advisors is a money management firm located in California with about $20.1 billion in assets under management. Two managing partners at the firm are the celebrated value investors Robert Rodriguez and Steven Romick. Core values at the firm are long-term thinking and paying less for securities than their intrinsic value to avoid permanent capital impairment. More...

  • Currently 3.80/5

Rating: 3.8/5 (10 votes)

Bob Rodriguez – Memo to FPA Colleagues on European Debt Crisis
Dear Colleagues, I was up very late last night watching measures of European short term funding go to the highest levels seen since March 2009 during the last financial crisis. Had they risen about 2 basis points higher, we would have broken into a new and dangerous zone. Along with several bank downgrades after the close yesterday, this was shaping up to be a potentially serious day. A Forbes article today, “Big European Bank Failure Averted: What Central Banks Did Not Tell Us”, confirms that a major bank was having difficulty funding liquidity needs. More...

  • Currently 3.22/5

Rating: 3.2/5 (9 votes)

First Pacific Advisors Buys Lowes Cos., Aon Corp., Cit Group Inc., Sells Abbott Laboratories, Amgen Inc., Ebay Inc.
First Pacific Advisors (FPA) is an investment management firm located in Los Angeles, Calif. With over $16.17 billion under management, FPA utilizes four primary strategies: absolute value, quality value, contrarian, and fixed income. Those strategies are then utilized in several of First Pacific’s funds, ranging from the small and mid-cap oriented Capital Fund, to the New Fixed Income fund. One fund in particular, the Capital Fund, has assets of $1.4 billion under management. This fund has been in operation since July 1984, and is led by its CEO Robert Rodriguez. Steven Romick, another excellent value manager, manages FPA Crescent Fund. Both of them have built outstanding long term track record. More...

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