First Pacific Advisors
First Pacific Advisors
Latest 13F filing
Q4 2025
filed Feb 17, 2026
Portfolio value
$7.60B
Positions
63
Top 10 concentration
54.3%
QoQ change
+5.0%
+$361.52M
Activity vs. Q3 2025
4
New positions
20
Added to
16
Unchanged
23
Reduced
49
Exited
Portfolio composition — Q4 2025
- GOOGLALPHABET INC7.9%
- ADIANALOG DEVICES INC6.7%
- METAMETA PLATFORMS INC6.1%
- GOOGALPHABET INC5.6%
- CCITIGROUP INC5.4%
- TELTE CONNECTIVITY PLC5.3%
- BDXBECTON DICKINSON & CO5.0%
- IFFINTERNATIONAL FLAVORS&FRAGRA4.7%
- AMZNAMAZON COM INC4.3%
- CMCSACOMCAST CORP NEW3.3%
- Other53 more positions45.7%
Top buys
New & added positions, by size
Top sells
Reduced & exited positions, biggest cuts first
- SHCEXITSOTERA HEALTH CO-100.0%Exited
- —EXITENSTAR GROUP LIMITED-100.0%Exited
- —EXITFLAME ACQUISITION CORP-100.0%Exited
- AIGEXITAMERICAN INTL GROUP INC-100.0%Exited
- W 0.625 10/01/25EXITWAYFAIR INC-100.0%Exited
Holdings as of Q4 2025
| # | Ticker | Issuer | Shares | Value | % Portfolio | Reported price | Action | Δ Shares |
|---|---|---|---|---|---|---|---|---|
| 1 | GOOGL | ALPHABET INC | 1,911,429 | $598.28M | 7.88% | $313.00 | REDUCE | -21.1% |
| 2 | ADI | ANALOG DEVICES INC | 1,874,867 | $508.46M | 6.69% | $271.20 | REDUCE | -6.0% |
| 3 | META | META PLATFORMS INC | 702,121 | $463.46M | 6.10% | $660.09 | REDUCE | -1.2% |
| 4 | GOOG | ALPHABET INC | 1,349,592 | $423.50M | 5.58% | $313.80 | REDUCE | -9.0% |
| 5 | C | CITIGROUP INC | 3,506,931 | $409.22M | 5.39% | $116.69 | REDUCE | -7.2% |
| 6 | TEL | TE CONNECTIVITY PLC | 1,779,970 | $404.96M | 5.33% | $227.51 | REDUCE | -16.0% |
| 7 | BDX | BECTON DICKINSON & CO | 1,951,246 | $378.68M | 4.99% | $194.07 | ADD | +108.4% |
| 8 | IFF | INTERNATIONAL FLAVORS&FRAGRA | 5,326,041 | $358.92M | 4.73% | $67.39 | ADD | +8.6% |
| 9 | AMZN | AMAZON COM INC | 1,411,199 | $325.73M | 4.29% | $230.82 | REDUCE | -1.8% |
| 10 | CMCSA | COMCAST CORP NEW | 8,399,831 | $251.07M | 3.31% | $29.89 | REDUCE | -25.3% |
| 11 | AON | AON PLC | 656,531 | $231.68M | 3.05% | $352.88 | ADD | +0.3% |
| 12 | FERG | FERGUSON ENTERPRISES INC | 887,120 | $197.50M | 2.60% | $222.63 | REDUCE | -3.2% |
| 13 | AMRZ | AMRIZE LTD | 3,408,072 | $184.31M | 2.43% | $54.08 | NEW | — |
| 14 | ICLR | ICON PLC | 980,804 | $178.72M | 2.35% | $182.22 | ADD | +0.7% |
| 15 | FBIN | FORTUNE BRANDS INNOVATIONS I | 3,524,498 | $176.30M | 2.32% | $50.02 | ADD | +23.0% |
| 16 | NXPI | NXP SEMICONDUCTORS N V | 766,330 | $166.34M | 2.19% | $217.06 | ADD | +0.2% |
| 17 | JEF | JEFFERIES FINL GROUP INC | 2,580,283 | $159.90M | 2.11% | $61.97 | — | 0% |
| 18 | MTN | VAIL RESORTS INC | 1,087,702 | $144.45M | 1.90% | $132.80 | ADD | +7.4% |
| 19 | LPLA | LPL FINL HLDGS INC | 387,412 | $138.37M | 1.82% | $357.17 | REDUCE | -12.6% |
| 20 | SATS 3.875 11/30/30 | ECHOSTAR CORP | 39,308,974 | $131.29M | 1.73% | $3.34 | REDUCE | -1.7% |
| 21 | LBRDK | LIBERTY BROADBAND CORP | 2,669,348 | $129.73M | 1.71% | $48.60 | NEW | — |
| 22 | TMO | THERMO FISHER SCIENTIFIC INC | 218,572 | $126.65M | 1.67% | $579.45 | ADD | +1.7% |
| 23 | NOV | NOV INC | 8,093,810 | $126.51M | 1.67% | $15.63 | ADD | +1.8% |
| 24 | BIO | BIO RAD LABS INC | 401,457 | $121.64M | 1.60% | $302.99 | ADD | +1.8% |
| 25 | MAR | MARRIOTT INTL INC NEW | 389,857 | $120.95M | 1.59% | $310.24 | REDUCE | -13.5% |
| 26 | KMX | CARMAX INC | 2,924,081 | $112.99M | 1.49% | $38.64 | ADD | +17.8% |
| 27 | KMI | KINDER MORGAN INC DEL | 4,076,504 | $112.06M | 1.48% | $27.49 | ADD | +1.8% |
| 28 | WFC | WELLS FARGO CO NEW | 1,109,828 | $103.44M | 1.36% | $93.20 | REDUCE | -14.1% |
| 29 | CHTR | CHARTER COMMUNICATIONS INC N | 461,525 | $96.34M | 1.27% | $208.75 | REDUCE | -28.6% |
| 30 | WAB | WABTEC | 444,548 | $94.89M | 1.25% | $213.45 | ADD | +1.8% |
| 31 | UBER | UBER TECHNOLOGIES INC | 953,263 | $77.89M | 1.03% | $81.71 | ADD | +2.0% |
| 32 | NATL | NCR ATLEOS CORPORATION | 2,040,700 | $77.77M | 1.02% | $38.11 | — | 0% |
| 33 | DEI | DOUGLAS EMMETT INC | 6,528,956 | $71.75M | 0.94% | $10.99 | ADD | +22.4% |
| 34 | VNO | VORNADO RLTY TR | 1,676,513 | $55.79M | 0.73% | $33.28 | — | 0% |
| 35 | VYX | NCR VOYIX CORPORATION | 5,038,208 | $51.39M | 0.68% | $10.20 | ADD | +28.9% |
| 36 | DELL | DELL TECHNOLOGIES INC | 382,985 | $48.21M | 0.63% | $125.88 | REDUCE | -8.5% |
| 37 | AVTR | AVANTOR INC | 3,968,620 | $45.48M | 0.60% | $11.46 | REDUCE | -2.5% |
| 38 | SATS | ECHOSTAR CORP | 285,933 | $31.08M | 0.41% | $108.70 | REDUCE | -45.8% |
| 39 | AVGO | BROADCOM INC | 86,111 | $29.80M | 0.39% | $346.10 | REDUCE | -24.9% |
| 40 | — | MAGNUM ICE CREAM CO NV | 1,697,675 | $26.91M | 0.35% | $15.85 | NEW | — |
| 41 | GPOR | GULFPORT ENERGY CORP | 127,434 | $26.50M | 0.35% | $207.99 | REDUCE | -25.8% |
| 42 | PCG | PG&E CORP | 1,142,167 | $18.35M | 0.24% | $16.07 | ADD | +1.9% |
| 43 | RUSHA | RUSH ENTERPRISES INC | 148,094 | $7.99M | 0.11% | $53.94 | REDUCE | -6.9% |
| 44 | STGW | STAGWELL INC | 1,191,918 | $5.83M | 0.08% | $4.89 | — | 0% |
| 45 | W 1 08/15/26 | WAYFAIR INC | 4,934,000 | $4.91M | 0.06% | $1.00 | — | 0% |
| 46 | TDW | TIDEWATER INC NEW | 94,961 | $4.80M | 0.06% | $50.51 | — | 0% |
| 47 | SGOV | ISHARES TR | 40,837 | $4.10M | 0.05% | $100.38 | ADD | +11.7% |
| 48 | LAUR | LAUREATE EDUCATION INC | 101,485 | $3.42M | 0.04% | $33.67 | REDUCE | -53.0% |
| 49 | PDLB | PONCE FINANCIAL GROUP INC | 181,562 | $2.97M | 0.04% | $16.35 | — | 0% |
| 50 | ALGT | ALLEGIANT TRAVEL CO | 34,186 | $2.92M | 0.04% | $85.27 | — | 0% |
| 51 | MRVI | MARAVAI LIFESCIENCES HLDGS I | 884,883 | $2.88M | 0.04% | $3.25 | — | 0% |
| 52 | VT | VANGUARD INTL EQUITY INDEX F | 19,743 | $2.78M | 0.04% | $141.06 | ADD | +9.9% |
| 53 | RSVR | RESERVOIR MEDIA INC | 329,066 | $2.49M | 0.03% | $7.57 | — | 0% |
| 54 | PBFS | PIONEER BANCORP INC MD | 166,974 | $2.25M | 0.03% | $13.48 | — | 0% |
| 55 | OEC | ORION S.A. | 417,388 | $2.20M | 0.03% | $5.28 | — | 0% |
| 56 | DAR | DARLING INGREDIENTS INC | 52,447 | $1.89M | 0.02% | $36.00 | — | 0% |
| 57 | EBC | EASTERN BANKSHARES INC | 85,883 | $1.58M | 0.02% | $18.43 | — | 0% |
| 58 | NFLX | NETFLIX INC | 16,400 | $1.54M | 0.02% | $93.76 | ADD | +900.0% |
| 59 | PARR | PAR PAC HOLDINGS INC | 43,716 | $1.54M | 0.02% | $35.14 | REDUCE | -22.0% |
| 60 | ASLE | AERSALE CORPORATION | 208,726 | $1.48M | 0.02% | $7.11 | — | 0% |
| 61 | UPWK | UPWORK INC | 57,081 | $1.13M | 0.01% | $19.82 | REDUCE | -45.6% |
| 62 | UNIT | UNITI GROUP LLC | 25,235 | $176.90K | 0.00% | $7.01 | — | 0% |
| 63 | HYBB | ISHARES TR | 286 | $13.48K | 0.00% | $47.13 | NEW | — |
Positions exited in Q4 2025
| Ticker | Issuer | Prior shares |
|---|---|---|
| SHC | SOTERA HEALTH CO | 0 |
| — | ENSTAR GROUP LIMITED | 0 |
| — | FLAME ACQUISITION CORP | 0 |
| AIG | AMERICAN INTL GROUP INC | 0 |
| W 0.625 10/01/25 | WAYFAIR INC | 0 |
| WLY | WILEY JOHN & SONS INC | 0 |
| Z 1.375 09/01/26 | ZILLOW GROUP INC | 0 |
| HLF | HERBALIFE LTD | 0 |
| — | ATLANTIC COASTAL AQSTN CORP | 0 |
| — | BURTECH ACQUISITION CORP | 0 |
| — | CHURCHILL CAPITAL CORP VII | 0 |
| FE | FIRSTENERGY CORP | 0 |
| — | GOLDEN ARROW MERGER CORP | 0 |
| — | SABLE OFFSHORE CORP | 0 |
| — | ECARX HOLDINGS INC | 0 |
| — | GLOBAL PARTNER ACQISTN CORP | 0 |
| — | TWELVE SEAS INVESTMENT CO II | 0 |
| 6PM | PARAMOUNT GROUP INC | 0 |
| — | METALS ACQUISITION LIMITED | 0 |
| — | POWERUP ACQUISITION CORP | 0 |
| LGIH | LGI HOMES INC | 0 |
| — | ATLANTIC COASTAL ACQUISTN CO | 0 |
| DLTR | DOLLAR TREE INC | 0 |
| UPWK 0.25 08/15/26 | UPWORK INC | 0 |
| BNAIW | BRAND ENGAGEMENT NETWORK INC | 0 |
| BBAI/WS | BIGBEAR AI HLDGS INC | 0 |
| Z 2.75 05/15/25 | ZILLOW GROUP INC | 0 |
| FERG | FERGUSON PLC NEW | 0 |
| BTMD | BIOTE CORP | 0 |
| NIOBW | NIOCORP DEVS LTD | 0 |
| — | ROSS ACQUISITION CORP II | 0 |
| — | POWERUP ACQUISITION CORP | 0 |
| — | DHC ACQUISITION CORP | 0 |
| TEL | TE CONNECTIVITY LTD | 0 |
| — | LANDCADIA HOLDINGS IV INC | 0 |
| AONCW | AMERICAN ONCOLOGY NETWORK IN | 0 |
| VIPS | VIPSHOP HLDGS LTD | 0 |
| IAC | IAC INC | 0 |
| HWM | HOWMET AEROSPACE INC | 325,984 |
| NX | QUANEX BLDG PRODS CORP | 166,231 |
| — | PLUM ACQUISITION CORP III | 0 |
| — | PLUM ACQUISITION CORP I | 0 |
| — | POWERUP ACQUISITION CORP | 0 |
| — | PRENETICS GLOBAL LTD | 0 |
| — | SLAM CORP | 0 |
| — | SWVL HOLDINGS CORP | 0 |
| — | MARIADB PLC | 0 |
| — | MAC COPPER LIMITED | 0 |
| CIGI | COLLIERS INTL GROUP INC | 0 |
Source: SEC EDGAR 13F-HR filing Feb 17, 2026. Reported prices are derived from the filing's value-to-shares ratio (effectively the quarter-end mark). Filings are published with a 45-day delay. CIK 0001377581.