First Pacific Advisors, LP 13F: Quarter-over-Quarter Portfolio Changes
First Pacific Advisors, LP reported a disclosed portfolio value of approximately $7.1 billion in its latest SEC Form 13F-HR filing for Q1 2026, down 6.0% quarter on quarter. Over the quarter, the manager initiated 27 new positions, bought more shares in 22 holdings, trimmed 24 holdings, and exited 5 positions.
First Pacific Advisors, LP's top buy was a new stake in Baxter International INC (bax) (BAX) , equal to 1.6% of the disclosed portfolio. Its top sell was Charter Communications INC (CHTR) . The manager exited the position completely after it had accounted for 1.3% of the previous portfolio.
New PositionsQ1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
Top BuysQ1 2026
Showing the top 10 buys among 22 existing positions where the manager bought more shares in Q1 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| AVANTOR INC (AVTR) | AVTR | +0.3% | +103.8% | Holders → |
| LIBERTY BROADBAND CORP | LBRDK | +1.6% | +73.9% | Holders → |
| VANGUARD TOT WORLD STK ETF | VT | +0.0% | +33.7% | Holders → |
| MAGNUM ICE CREAM CO NV | MICC | +0.1% | +32.8% | Holders → |
| DOUGLAS EMMETT INC | DEI | +0.2% | +32.3% | Holders → |
| VAIL RESORTS INC | MTN | +0.2% | +8.2% | Holders → |
| FORTUNE BRANDS INNOVATIONS I | FBIN | +-0.3% | +7.6% | Holders → |
| NCR VOYIX CORPORATION | VYX | +-0.2% | +7.3% | Holders → |
| AON PLC | AON | +0.1% | +7.1% | Holders → |
| COMCAST CLASS A | CMCSA | +0.2% | +2.3% | History → |
Top SellsQ1 2026
Showing the top 10 sells among 24 existing positions where the manager sold shares in Q1 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| EASTERN BANKSHARES INC | EBC | -0.0% | 99.9% | Holders → |
| NCR ATLEOS CORPORATION | NATL | -1.0% | 94.6% | Holders → |
| ECHOSTAR CORP | SATS | -0.3% | 80.3% | Holders → |
| KINDER MORGAN, INC. | KMI | -0.8% | 67.3% | Holders → |
| ISHARES TR | HYBB | -0.0% | 50.3% | Holders → |
| WABTEC | WAB | -0.3% | 41.3% | Holders → |
| MARRIOTT INTL INC NEW | MAR | -0.5% | 40.3% | Holders → |
| BROADCOM | AVGO | -0.1% | 27.5% | Holders → |
| PAR PAC HOLDINGS INC | PARR | 0.0% | 25.3% | Holders → |
| NOV INC (NOV) | NOV | 0.0% | 21.9% | Holders → |
Full ExitsQ1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| CHARTER COMMUNICATIONS INC | CHTR | 1.3% |
| GULFPORT ENERGY CORP | GPOR | 0.3% |
| ISHARES 0-3 MONTH TREASURY BON | SGOV | 0.1% |
| LAUREATE EDUCATI | LAUR | 0.0% |
| DARLING INGREDIENTS INC | DAR | 0.0% |
Net Portfolio Value ChangeQ1 2026
- $7.6BPrior quarter
- $7.1BCurrent quarter
- $-0.5BNet delta
- -6.0%% change
Methodology & FAQ
How First Pacific Advisors, LP Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for First Pacific Advisors, LP: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description — including how confidential treatment filings are handled — is documented in the Methodology.
What stocks did First Pacific Advisors, LP buy in Q1 2026?
In Q1 2026, First Pacific Advisors, LP initiated 27 new positions (BAXTER INTERNATIONAL INC (BAX) (BAX), ARTHUR J. GALLAGHER (AJG), WATERS CORP (WAT), PAYPAL HLDGS INC (PYPL), CNH INDL N V (CNH), MARSH (MRSH), VANGUARD 0-3M T-BILL ETF (VBIL) (VBIL), SPDR GOLD TR (GLD), EQUIPMENTSHARE COM INC (EQPT), FRANCO NEV CORP (FNV), CHEVRON CORP (CVX), SOUTHERN COPPER CORP (SCCO), ROSS STORES INC (ROST), TESLA (TSLA), EMERSON ELEC CO (EMR), DOLLAR GEN CORP (DG), CARLISLE COS INC (CSL), O'REILLY AUTOMOTIVE (ORLY), ENVISTA HOLDINGS CORPORATION (NVST), DISNEY WALT CO (DIS), SCHEIN HENRY INC (HSIC), WW GRAINGER INC (GWW), MCDONALDS CORP (MCD), CORPAY INC (CPAY), SCOTTS MIRACLE-GRO CO (SMG), BAIDU INC-SP ADR (BIDU), DIAGEO PLC (DEO)); bought more shares of AVANTOR INC (AVTR) (AVTR), LIBERTY BROADBAND CORP (LBRDK), VANGUARD TOT WORLD STK ETF (VT), MAGNUM ICE CREAM CO NV (MICC), DOUGLAS EMMETT INC (DEI) — the largest 5 of 22 adds.
What stocks did First Pacific Advisors, LP sell in Q1 2026?
In Q1 2026, First Pacific Advisors, LP fully sold 5 positions (CHARTER COMMUNICATIONS INC (CHTR), GULFPORT ENERGY CORP (GPOR), ISHARES 0-3 MONTH TREASURY BON (SGOV), LAUREATE EDUCATI (LAUR), DARLING INGREDIENTS INC (DAR)); reduced holdings in EASTERN BANKSHARES INC (EBC), NCR ATLEOS CORPORATION (NATL), ECHOSTAR CORP (SATS), KINDER MORGAN, INC. (KMI), ISHARES TR (HYBB) — the largest 5 of 24 reductions.
Which positions did First Pacific Advisors, LP initiate in Q1 2026?
First Pacific Advisors, LP established 27 new positions in Q1 2026: BAXTER INTERNATIONAL INC (BAX) (BAX, 1.6%), ARTHUR J. GALLAGHER (AJG, 1.2%), WATERS CORP (WAT, 1.1%), PAYPAL HLDGS INC (PYPL, 0.9%), CNH INDL N V (CNH, 0.7%), MARSH (MRSH, 0.3%), VANGUARD 0-3M T-BILL ETF (VBIL) (VBIL, 0.1%), SPDR GOLD TR (GLD, 0.1%), EQUIPMENTSHARE COM INC (EQPT, 0.1%), FRANCO NEV CORP (FNV, 0.0%), CHEVRON CORP (CVX, 0.0%), SOUTHERN COPPER CORP (SCCO, 0.0%), ROSS STORES INC (ROST, 0.0%), TESLA (TSLA, 0.0%), EMERSON ELEC CO (EMR, 0.0%), DOLLAR GEN CORP (DG, 0.0%), CARLISLE COS INC (CSL, 0.0%), O'REILLY AUTOMOTIVE (ORLY, 0.0%), ENVISTA HOLDINGS CORPORATION (NVST, 0.0%), DISNEY WALT CO (DIS, 0.0%), SCHEIN HENRY INC (HSIC, 0.0%), WW GRAINGER INC (GWW, 0.0%), MCDONALDS CORP (MCD, 0.0%), CORPAY INC (CPAY, 0.0%), SCOTTS MIRACLE-GRO CO (SMG, 0.0%), BAIDU INC-SP ADR (BIDU, 0.0%), DIAGEO PLC (DEO, 0.0%).
Which existing positions saw the largest allocation increases for First Pacific Advisors, LP in Q1 2026?
Of 22 existing positions with share-count increases in Q1 2026, the largest were: AVANTOR INC (AVTR) (AVTR, +0.3% weight, +103.8% shares), LIBERTY BROADBAND CORP (LBRDK, +1.6% weight, +73.9% shares), VANGUARD TOT WORLD STK ETF (VT, +0.0% weight, +33.7% shares), MAGNUM ICE CREAM CO NV (MICC, +0.1% weight, +32.8% shares), DOUGLAS EMMETT INC (DEI, +0.2% weight, +32.3% shares), VAIL RESORTS INC (MTN, +0.2% weight, +8.2% shares), FORTUNE BRANDS INNOVATIONS I (FBIN, +-0.3% weight, +7.6% shares), NCR VOYIX CORPORATION (VYX, +-0.2% weight, +7.3% shares), AON PLC (AON, +0.1% weight, +7.1% shares), COMCAST CLASS A (CMCSA, +0.2% weight, +2.3% shares).
Which positions did First Pacific Advisors, LP fully exit in Q1 2026?
First Pacific Advisors, LP fully exited 5 positions in Q1 2026: CHARTER COMMUNICATIONS INC (CHTR, last-reported weight 1.3%), GULFPORT ENERGY CORP (GPOR, last-reported weight 0.3%), ISHARES 0-3 MONTH TREASURY BON (SGOV, last-reported weight 0.1%), LAUREATE EDUCATI (LAUR, last-reported weight 0.0%), DARLING INGREDIENTS INC (DAR, last-reported weight 0.0%).
Which existing positions saw the largest allocation reductions for First Pacific Advisors, LP in Q1 2026?
Of 24 existing positions with share-count reductions in Q1 2026, the largest were: EASTERN BANKSHARES INC (EBC, -0.0% weight, -99.9% shares), NCR ATLEOS CORPORATION (NATL, -1.0% weight, -94.6% shares), ECHOSTAR CORP (SATS, -0.3% weight, -80.3% shares), KINDER MORGAN, INC. (KMI, -0.8% weight, -67.3% shares), ISHARES TR (HYBB, -0.0% weight, -50.3% shares), WABTEC (WAB, -0.3% weight, -41.3% shares), MARRIOTT INTL INC NEW (MAR, -0.5% weight, -40.3% shares), BROADCOM (AVGO, -0.1% weight, -27.5% shares), PAR PAC HOLDINGS INC (PARR, 0.0% weight, -25.3% shares), NOV INC (NOV) (NOV, 0.0% weight, -21.9% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.