Robert Rodriguez’s First Pacific Advisors (FPA) has filed its Q3 Form 13F detailing its newly bought and closed stakes, during the last quarter. FPA is based in Los Angeles, California and manages manages $20.9 billion, across four equity strategies and one fixed income strategy. The value based investment fund reported ~$8.2 billion, worth of AUM, in its portfolio as at the close of Q3, up from ~$8.0 reported during the previous quarter.
The hedge fund’s top portfolio holdings include Aon PLC (NYSE:AON), at the very top with 4.68 percent of the overall portfolio value, while CVS Caremark Corporation (NYSE:CVS) is second in the list with 4.59 percent. Covidien plc (NYSE:COV) is third with 3.85 percent in the portfolio. Overall, the top ten stock in the portfolio occupies 35.17 percent in terms of value.
Value Partners Asia ex-Japan Equity Fund has delivered a 60.7% return since its inception three years ago. In comparison, the MSCI All Counties Asia (ex-Japan) index has returned just 34% over the same period. The fund, which targets what it calls the best-in-class companies in "growth-like" areas of the market, such as information technology and Read More
The fund currently reported total of 26 additions to some of its existing stakes, while 41 stocks were reduced. First Pacific Advisors added four new stocks, while offloading 11 positions.
First Pacific Advisors top buy during Q3 was ITT Corp (NYSE:ITT); the amount acquired represents 0.17 percent of the overall portfolio, in terms of value. ITT Corp (NYSE:ITT) is a diversified manufacturing goods company operating in the industrial sector. The stock traded at $21.77 today, at around 2:21 p.m EST.
Another acquisition during the quarter was JPMorgan Chase & Co. (NYSE:JPM); the acquired stake in the financial sector company represents 0.11 percent in the overall portfolio. The amount invested in Covidien plc (NYSE:COV) triggered a 0.07 percentage change in the portfolio, while the fourth newly acquired stock, Navistar International Corp (NYSE:NAV) triggered a 0.02 percentage change in the portfolio.
Sold out Stakes
First Pacific Advisors sold out its stake in Vodafone Group Plc (NASDAQ:VOD) (LON:VOD), to trigger a 1.17 percentage change in the portfolio, after it offloaded all the shares of the telecommunications giant it held. Additionally, First Pacific Advisors sold all its shares held in Apache Corporation (NYSE:APA), resulting into 1.02 percentage change. Apache Corp. is an Independent Oil and Gas company operating in the basic materials sector.
Other sold out stakes include Amerigroup Corporation (NYSE:AGP) at 0.64%, AGCO Corporation (NYSE:AGCO) at 0.56%, and Lincare Holdings Inc. (NASDAQ:LNCR)0.54%, among others.