FPA Capital Fund \| FPPTX Mutual Fund
FPA Capital

Last update 2021-01-19	44 Stocks (34 new)
Value $143.00 Mil	Turnover 64 %
Top Holdings: IDCC(9.99%) GPK(5.89%) THS(4.64%) SAIC(4.61%) HMN(4.12%) Portfolio Report

FPA Capital Fund Profile

FPA Capital Fund, Inc. (FPPTX) seeks long-term growth through investing primarily in carefully selected common stocks and select fixed income securities. -Fundamental bottom-up, deep value stock picking with economic and industry point of view -Capitalize on best ideas with concentrated portfolios -Focus on long term, turnover averaging less than 20% over 20 years

FPA Capital Fund Investing Philosophy

FPA Capital Fund primarily invests in the stocks of smaller companies. It selects stocks based on specific fundamental criteria: strong balance sheets, free cash flow, an understandable and successful business strategy under capable management, and unique business characteristics. The fund's purchases are concentrated in companies with relatively low Price/Normalized Earnings, low Price/Pretax Cash flow, low Price/Book Value, low Price/Replacement Value and low Market Cap/Total Revenues. The fund looks for companies with a track record of high returns on equity, and a long history. It sells stocks when the basis for investment has been revised, the stock is selling at a significant premium P/E to the market, profitability recovery has been attained, a management disappointment without expectation of recovery has occurred, or a superior alternative value has presented itself. The fund's portfolio generally holds 25-45 equities and its investment outlook is typically 3-5 years.

FPA Capital Fund Portfolio and Latest Trades

Ticker	Company	Date	Action	Impact %	Price Range	Price	Price Change from Avrg%	Comment	Current Shares	Share Change
Ticker	Company	Date	Action	Impact %	Price Range	Price	Price Change from Avrg%	Comment	Current Shares	Share Change
Real Time Picks after 2020-12-31 are displayed for Premium P Members Only
CNC	Centene Corp	2020-12-31	Sold Out	-9.06%	● 58.02 ($63.5) 71.12	$94.74	49.20%	Sold Out	0	-165,984
VG	Vonage Holdings Corp	2020-12-31	Sold Out	-8.44%	● 10.13 ($12.24) 13.97	$20.99	71.49%	Sold Out	0	-881,862
ACIW	ACI Worldwide Inc	2020-12-31	Sold Out	-6.82%	● 27.26 ($33.68) 39.31	$25.76	-23.52%	Sold Out	0	-278,948
NCR	NCR Corp	2020-12-31	Sold Out	-5.15%	● 19.6 ($27.26) 37.57	$33.67	23.53%	Sold Out	0	-248,723
WDC	Western Digital Corp	2020-12-31	Sold Out	-4.20%	● 35.96 ($44.15) 55.39	$46.20	4.65%	Sold Out	0	-122,756
HMN	Horace Mann Educators Corp	2020-12-31	New Buy	+4.12%	● 33.75 ($38.69) 43.63	$35.74	-7.62%	New holding	140,098	140,098
MATV	Schweitzer-Mauduit International Inc	2020-12-31	New Buy	+3.89%	● 30.98 ($36.01) 41.65	$20.44	-43.24%	New holding	138,445	138,445
MSM	MSC Industrial Direct Co Inc	2020-12-31	New Buy	+3.62%	● 63.09 ($77.67) 87.33	$82.10	5.70%	New holding	61,324	61,324
SYNA	Synaptics Inc	2020-12-31	New Buy	+3.41%	● 75.32 ($81.48) 96.4	$129.85	59.37%	New holding	50,511	50,511
AEL	American Equity Investment Life Holding Co	2020-12-31	New Buy	+3.34%	● 23.23 ($27.51) 32.3	$40.74	48.09%	New holding	172,728	172,728
CSWI	CSW Industrials Inc	2020-12-31	New Buy	+3.27%	● 78.59 ($100.52) 116.28	$128.73	28.06%	New holding	41,717	41,717
DAN	Dana Inc	2020-12-31	Sold Out	-3.27%	● 13.49 ($16.85) 20.09	$15.79	-6.26%	Sold Out	0	-283,517
NBL	Noble Energy Inc	2020-12-31	Sold Out	-3.16%	● 8.46 ($8.46) 8.46	$8.46	0%	Sold Out	0	-394,705
PVH	PVH Corp	2020-12-31	New Buy	+2.97%	● 58.29 ($76.79) 96.4	$63.54	-17.25%	New holding	45,166	45,166
CSGS	CSG Systems International Inc	2020-12-31	New Buy	+2.67%	● 37.88 ($42.67) 46.4	$56.45	32.29%	New holding	84,752	84,752
FN	Fabrinet	2020-12-31	New Buy	+2.57%	● 59.92 ($68.23) 77.86	$93.99	37.75%	New holding	47,416	47,416
VNOM	Viper Energy Partners LP	2020-12-31	Sold Out	-2.56%	● 6.79 ($9.81) 12.99	$29.59	201.63%	Sold Out	0	-363,039
RLI	RLI Corp	2020-12-31	New Buy	+2.30%	● 82.68 ($96.2) 108.5	$111.11	15.50%	New holding	31,542	31,542
GGG	Graco Inc	2020-12-31	New Buy	+2.19%	● 60.93 ($67.09) 72.84	$66.93	-0.24%	New holding	43,268	43,268
VSH	Vishay Intertechnology Inc	2020-12-31	New Buy	+2.14%	● 15.63 ($18.52) 20.71	$19.64	6.07%	New holding	147,569	147,569
NJR	New Jersey Resources Corp	2020-12-31	New Buy	+2.09%	● 27.37 ($32.74) 38.13	$45.10	37.77%	New holding	83,976	83,976
GLIBA	GCI Liberty Inc	2020-12-31	Sold Out	-2.07%	● 77.99 ($87.43) 95.57	$91.73	4.92%	Sold Out	0	-27,027
SNX	TD Synnex Corp	2020-12-31	New Buy	+2.04%	● 65.95 ($76.75) 83.76	$97.95	27.62%	New holding	35,731	35,731
GNTX	Gentex Corp	2020-12-31	Sold Out	-1.91%	● 26.01 ($30.99) 34.06	$27.23	-12.12%	Sold Out	0	-79,045
AMBA	Ambarella Inc	2020-12-31	Sold Out	-1.90%	● 51.92 ($70.71) 95.41	$83.49	18.07%	Sold Out	0	-38,886
SJI	South Jersey Industries Inc	2020-12-31	New Buy	+1.88%	● 19.27 ($21.68) 24.97	$34.17	57.61%	New holding	124,757	124,757
DAR	Darling Ingredients Inc	2020-12-31	New Buy	+1.87%	● 36.82 ($48.08) 58.88	$72.08	49.92%	New holding	46,301	46,301
PRG	PROG Holdings Inc	2020-12-31	Sold Out	-1.85%	● 44.29 ($51.73) 59.45	$20.02	-61.30%	Sold Out	0	-34,842
MKSI	MKS Instruments Inc	2020-12-31	Sold Out	-1.82%	● 108.39 ($131.48) 156.88	$111.06	-15.53%	Sold Out	0	-17,774
CNXC	Concentrix Corp	2020-12-31	New Buy	+1.76%	● 80 ($97.11) 115.14	$130.66	34.55%	New holding	25,461	25,461
OMI	Owens & Minor Inc	2020-12-31	New Buy	+1.64%	● 22.17 ($25.83) 30.85	$33.20	28.53%	New holding	86,472	86,472
GIII	G-III Apparel Group Ltd	2020-12-31	New Buy	+1.62%	● 13.48 ($18.76) 24.48	$22.35	19.14%	New holding	97,799	97,799
CNO	CNO Financial Group Inc	2020-12-31	New Buy	+1.58%	● 16.65 ($20.51) 23.4	$18.72	-8.73%	New holding	101,881	101,881
CHNG	Change Healthcare Inc	2020-12-31	Sold Out	-1.54%	● 14.1 ($16.5) 18.83	$24.30	47.24%	Sold Out	0	-113,231
SFBS	Servisfirst Bancshares Inc	2020-12-31	New Buy	+1.49%	● 35.63 ($38.86) 41.56	$87.32	124.70%	New holding	52,900	52,900
SCHL	Scholastic Corp	2020-12-31	New Buy	+1.38%	● 19.69 ($23.07) 27.04	$46.23	100.38%	New holding	78,697	78,697
AX	Axos Financial Inc	2020-12-31	New Buy	+1.35%	● 24.47 ($31.9) 37.71	$42.83	34.26%	New holding	51,394	51,394
AGCO	AGCO Corp	2020-12-31	Reduce	-1.24%	● 75.19 ($89.37) 103.65	$106.30	18.94%	Reduce -58.63%	12,587	-17,841
ANAT	American National Group Inc	2020-12-31	New Buy	+1.15%	● 68 ($81.09) 96.12	$190.02	134.33%	New holding	17,128	17,128
ISBC	Investors Bancorp Inc	2020-12-31	Reduce	-1.08%	● 7.51 ($9.19) 10.56	$13.87	50.92%	Reduce -43.08%	209,030	-158,201
LTHM	Livent Corp	2020-12-31	New Buy	+1.05%	● 9.56 ($14.13) 19.2	$26.29	86.06%	New holding	79,440	79,440
SAIC	Science Applications International Corp	2020-12-31	Reduce	-1.03%	● 73.32 ($88.3) 99.65	$93.50	5.88%	Reduce -16.8%	69,619	-14,060
DCO	Ducommun Inc	2020-12-31	New Buy	+1.02%	● 31.64 ($43.53) 55.18	$46.96	7.88%	New holding	27,095	27,095
CRI	Carter's Inc	2020-12-31	Add	+0.83%	● 79.95 ($88.22) 96.25	$79.08	-10.36%	Add 27.43%	58,772	12,650
UNF	UniFirst Corp	2020-12-31	New Buy	+0.73%	● 163.74 ($190.66) 211.69	$191.12	0.24%	New holding	4,923	4,923
LFUS	Littelfuse Inc	2020-12-31	New Buy	+0.68%	● 181.14 ($222.74) 254.66	$243.28	9.22%	New holding	3,813	3,813
MTZ	MasTec Inc	2020-12-31	Reduce	-0.67%	● 42.61 ($56.56) 70.4	$79.68	40.88%	Reduce -37.81%	27,895	-16,962
FSTR	L.B. Foster Co	2020-12-31	New Buy	+0.66%	● 13.55 ($14.69) 15.47	$14.90	1.43%	New holding	62,348	62,348
ENOV	Enovis Corp	2020-12-31	New Buy	+0.64%	● 81.57 ($101.99) 114.72	$56.62	-44.48%	New holding	7,922.33	23,767
TRIP	TripAdvisor Inc	2020-12-31	New Buy	+0.51%	● 18.72 ($24.22) 30.94	$24.86	2.64%	New holding	25,406	25,406
CCF	Chase Corp	2020-12-31	New Buy	+0.47%	● 95.16 ($105.03) 116.78	$90.78	-13.57%	New holding	6,607	6,607
OSK	Oshkosh Corp	2020-12-31	Add	+0.36%	● 67.36 ($79.83) 87.68	$82.30	3.09%	Add 15.93%	43,363	5,957
AAN	The Aarons Co Inc	2020-12-31	New Buy	+0.23%	● 0 ($16.68) 22.3	$13.83	-17.09%	New holding	17,421	17,421
VSEC	VSE Corp	2020-12-31	New Buy	+0.20%	● 28.96 ($34.34) 41.16	$38.86	13.16%	New holding	7,540	7,540
ARW	Arrow Electronics Inc	2020-12-31	Reduce	-0.07%	● 76.55 ($88.84) 99.2	$107.36	20.85%	Reduce -3.07%	31,199	-987
NCR	NCR Corp	2020-09-30	New Buy	+5.15%	● 16.17 ($19.35) 22.14	$33.67	74.03%	New holding	248,723	248,723
ACIW	ACI Worldwide Inc	2020-09-30	Add	+2.13%	● 24.19 ($27.69) 31.21	$25.76	-6.97%	Add 45.48%	278,948	87,205
GLIBA	GCI Liberty Inc	2020-09-30	New Buy	+2.07%	● 71.49 ($78.72) 83.62	$91.73	16.53%	New holding	27,027	27,027
MTN	Vail Resorts Inc	2020-09-30	Sold Out	-1.95%	● 176.93 ($205.93) 228.63	$233.30	13.29%	Sold Out	0	-10,792
NBL	Noble Energy Inc	2020-09-30	Reduce	-1.84%	● 8.49 ($9.77) 10.97	$8.46	-13.41%	Reduce -34.37%	394,705	-206,714
MTZ	MasTec Inc	2020-09-30	New Buy	+1.77%	● 37.14 ($43.03) 48.76	$79.68	85.17%	New holding	44,857	44,857
THS	Treehouse Foods Inc	2020-09-30	Add	+1.74%	● 38.65 ($42.56) 45.57	$45.79	7.59%	Add 41.66%	155,980	45,871
VG	Vonage Holdings Corp	2020-09-30	Reduce	-1.43%	● 9.64 ($11.07) 12.75	$20.99	89.61%	Reduce -13.96%	881,862	-143,126
VNOM	Viper Energy Partners LP	2020-09-30	Add	+1.42%	● 7.5 ($9.69) 11.3	$29.59	205.37%	Add 124.92%	363,039	201,633
PRG	PROG Holdings Inc	2020-09-30	Reduce	-1.41%	● 42.41 ($52.57) 59.2	$20.02	-61.92%	Reduce -47.33%	34,842	-31,307
AGCO	AGCO Corp	2020-09-30	Reduce	-1.34%	● 53.42 ($68.09) 76.26	$106.30	56.12%	Reduce -44.37%	30,428	-24,274
DAN	Dana Inc	2020-09-30	Reduce	-1%	● 11.19 ($13) 15.09	$15.79	21.50%	Reduce -22.54%	283,517	-82,493
CNC	Centene Corp	2020-09-30	Add	+1%	● 54.3 ($62.15) 67.74	$94.74	52.44%	Add 12.47%	165,984	18,403
CHNG	Change Healthcare Inc	2020-09-30	Reduce	-0.82%	● 10 ($12.7) 14.95	$24.30	91.30%	Reduce -39.56%	113,231	-74,127
ARW	Arrow Electronics Inc	2020-09-30	Reduce	-0.80%	● 65.35 ($73.82) 81.45	$107.36	45.44%	Reduce -26.67%	32,186	-11,706
WDC	Western Digital Corp	2020-09-30	Add	+0.73%	● 33.71 ($39.35) 46.16	$46.20	17.42%	Add 20.93%	122,756	21,245
ISBC	Investors Bancorp Inc	2020-09-30	Reduce	-0.59%	● 6.85 ($7.97) 8.77	$13.87	74.03%	Reduce -16.04%	367,231	-70,157
CRI	Carter's Inc	2020-09-30	Add	+0.34%	● 76.37 ($83.18) 89.55	$79.08	-4.93%	Add 10.16%	46,122	4,254
SAIC	Science Applications International Corp	2020-09-30	Add	+0.33%	● 68.97 ($78.79) 86.18	$93.50	18.66%	Add 5.61%	83,679	4,447
AMBA	Ambarella Inc	2020-09-30	Add	+0.20%	● 43.91 ($48.37) 57.72	$83.49	72.61%	Add 11.6%	38,886	4,042
MKSI	MKS Instruments Inc	2020-09-30	Reduce	-0.10%	● 103.3 ($117.1) 128.48	$111.06	-5.16%	Reduce -4.62%	17,774	-861
NBL	Noble Energy Inc	2020-06-30	Reduce	-3.57%	● 5.89 ($8.89) 12.71	$8.46	-4.84%	Reduce -48.89%	601,419	-575,278
ISBC	Investors Bancorp Inc	2020-06-30	Reduce	-2.84%	● 7.15 ($8.41) 9.98	$13.87	64.92%	Reduce -44.1%	437,388	-345,004
CHNG	Change Healthcare Inc	2020-06-30	New Buy	+2.08%	● 8.8 ($11.22) 12.81	$24.30	116.53%	New holding	187,358	187,358
PRG	PROG Holdings Inc	2020-06-30	Reduce	-1.64%	● 18.62 ($33.69) 49.28	$20.02	-40.58%	Reduce -51.52%	66,149	-70,294
AMBA	Ambarella Inc	2020-06-30	Reduce	-1.57%	● 44.44 ($51.5) 61.55	$83.49	62.12%	Reduce -47.43%	34,844	-31,439
DAN	Dana Inc	2020-06-30	Reduce	-1.39%	● 6.86 ($10.82) 15.72	$15.79	45.98%	Reduce -32.1%	366,010	-173,042
WDC	Western Digital Corp	2020-06-30	Reduce	-1.23%	● 37.83 ($42.87) 48.53	$46.20	7.78%	Reduce -22.13%	101,511	-28,850
VNOM	Viper Energy Partners LP	2020-06-30	Reduce	-0.89%	● 6.63 ($9.54) 13.7	$29.59	210.17%	Reduce -44.76%	161,406	-130,801
OSK	Oshkosh Corp	2020-06-30	Reduce	-0.87%	● 59.27 ($68.13) 85.26	$82.30	20.79%	Reduce -26.05%	37,406	-13,175
MTN	Vail Resorts Inc	2020-06-30	Reduce	-0.68%	● 131.73 ($174.57) 206.97	$233.30	33.64%	Reduce -29.33%	10,792	-4,478
CNC	Centene Corp	2020-06-30	Add	+0.66%	● 54.6 ($65.04) 72.85	$94.74	45.66%	Add 7.66%	147,581	10,500
ARW	Arrow Electronics Inc	2020-06-30	Reduce	-0.47%	● 50.17 ($62.97) 77.2	$107.36	70.50%	Reduce -16.71%	43,892	-8,808
THS	Treehouse Foods Inc	2020-06-30	Reduce	-0.44%	● 41.56 ($48.67) 53.49	$45.79	-5.92%	Reduce -8.05%	110,109	-9,638
GPK	Graphic Packaging Holding Co	2020-06-30	Reduce	-0.44%	● 11.4 ($13.42) 15.36	$22.81	69.99%	Reduce -6.62%	497,217	-35,271
VG	Vonage Holdings Corp	2020-06-30	Reduce	-0.29%	● 6.74 ($8.94) 10.76	$20.99	134.79%	Reduce -3.63%	1,024,988	-38,645
MKSI	MKS Instruments Inc	2020-06-30	Reduce	-0.27%	● 74.98 ($99.02) 114.61	$111.06	12.16%	Reduce -14.91%	18,635	-3,266
SAIC	Science Applications International Corp	2020-06-30	Reduce	-0.26%	● 70.9 ($81.88) 90.82	$93.50	14.19%	Reduce -4.07%	79,232	-3,359
ALGT	Allegiant Travel Co	2020-03-31	Sold Out	-9.32%	● 68.82 ($144.97) 177.79	$103.33	-28.72%	Sold Out	0	-71,341
VG	Vonage Holdings Corp	2020-03-31	New Buy	+7.90%	● 4.53 ($8.16) 10.7	$20.99	157.23%	New holding	1,063,633	1,063,633
THS	Treehouse Foods Inc	2020-03-31	New Buy	+5.43%	● 34.57 ($43.27) 48.5	$45.79	5.82%	New holding	119,747	119,747
CAKE	Cheesecake Factory Inc	2020-03-31	Sold Out	-4.57%	● 15.71 ($33.95) 42.25	$29.82	-12.15%	Sold Out	0	-156,885
CFFN	Capitol Federal Financial Inc	2020-03-31	Sold Out	-4.18%	● 10.19 ($12.85) 13.93	$9.72	-24.36%	Sold Out	0	-405,989
FHB	First Hawaiian Inc	2020-03-31	Sold Out	-4.18%	● 15.68 ($25.45) 30.87	$26.23	3.06%	Sold Out	0	-193,168
NBL	Noble Energy Inc	2020-03-31	Add	+4.13%	● 3.02 ($16.34) 24.84	$8.46	-48.23%	Add 129.79%	1,176,697	664,611

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