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Funds (13F)

First Pacific Advisors, LP

Backtest from 16 Aug 2013 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+15.7%
S&P 500 +14.1%
Last 12 months
+20.7%
S&P 500 +12.1%
Sharpe ratio
0.74
S&P 500 0.78
Biggest drop
−39.4%
S&P 500 −31.8%
$10.0k$20.0k$40.0k 2013201520172019202120232025 $68.4k$57.0k
First Pacific Advisors, LPS&P 500 $10,000 in First Pacific Advisors, LP from 16 Aug 2013 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies First Pacific Advisors, LP's quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

First Pacific Advisors, LP's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+15.7%+14.1%
Total return+584%+470%
Last 12 months+20.7%+12.1%
Last 3 months+3.5%—
Last month+3.8%—
This year so far+15.7%—
Volatility a year19.4%16.0%
Sharpe ratio0.740.78
Biggest drop−39.4%−31.8%
Beta to the S&P 5001.141.00
Alpha a year (t-statistic)+0.3% (0.15)—
Share of weeks up60%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
ADI8.7%——
GOOGL6.9%——
IFF5.9%——
C5.8%——
META5.2%——
AMZN4.4%——
BDX4.4%——
TEL4.3%——
AJG4.2%——
AON3.1%——
CMCSA2.9%——
FBIN2.9%——
NXPI2.6%——
FERG2.6%——
MTN2.4%——
AMRZ2.3%——
BAX2.2%——
KMX2.2%——
JEF1.9%——
TMO1.7%——
NOV1.6%——
BIO1.6%——
DHR1.5%——
ICLR1.4%——
DEI1.4%——
WAT1.4%——
PYPL1.3%——
LPLA1.2%——
INTU1.2%——
SAP1.2%——
AVTR1.1%——
CNH1.1%——
UBER1.0%——
VNO0.9%——
WFC0.9%——
GEHC0.7%——
MICC0.7%——
WAB0.7%——
VYX0.6%——
AVGO0.3%——
MRSH0.3%——
PCG0.3%——
RUSHA0.1%——
STGW0.1%——
MAR0.1%——
EQPT0.1%——
MRVI0.1%——
TDW0.1%——
ECHO0.1%——
ALGT0.1%——
PDLB0.1%——
RSVR0.0%——
PBFS0.0%——
OEC0.0%——
WLFC0.0%——
NATL0.0%——
PARR0.0%——
ASLE0.0%——
SCCO0.0%——
NFLX0.0%——
CSL0.0%——
UPWK0.0%——
BIDU0.0%——
UNIT0.0%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest16 Aug 2013 to 2 Nov 2026+15.7%+14.1%0.740.78−39.4%1.14+0.3% (0.15)
2018 onwards5 Jan 2018 to 2 Nov 2026+14.8%+13.9%0.620.66−39.4%1.12+0.1% (0.02)
Last three years3 Nov 2023 to 2 Nov 2026+24.3%+21.8%1.131.16−20.2%1.08+1.2% (0.30)
Last year7 Nov 2025 to 2 Nov 2026+23.0%+14.2%1.190.84−11.1%1.04+7.4% (0.86)
DateCompanyAction
21 Aug 2026WLFCBought
21 Aug 2026SAPBought
21 Aug 2026INTUBought
21 Aug 2026GEHCBought
21 Aug 2026DHRBought
15 May 2026WATBought
15 May 2026TSLABought
15 May 2026SMGBought
15 May 2026SCCOBought
15 May 2026ROSTBought
15 May 2026PYPLBought
15 May 2026ORLYBought
15 May 2026NVSTBought
15 May 2026MRSHBought
15 May 2026MCDBought
15 May 2026HSICBought
15 May 2026GWWBought
15 May 2026FNVBought
15 May 2026EQPTBought
15 May 2026EMRBought
15 May 2026DISBought
15 May 2026DGBought
15 May 2026CVXBought
15 May 2026CSLBought
15 May 2026CPAYBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026TSLASold
21 Aug 2026SMGSold
21 Aug 2026ROSTSold
21 Aug 2026ORLYSold
21 Aug 2026NVSTSold
21 Aug 2026MCDSold
21 Aug 2026KMISold
21 Aug 2026HSICSold
21 Aug 2026GWWSold
21 Aug 2026FNVSold
21 Aug 2026EMRSold
21 Aug 2026EBCSold
21 Aug 2026DISSold
21 Aug 2026DGSold
21 Aug 2026DELLSold
21 Aug 2026CVXSold
21 Aug 2026CPAYSold
15 May 2026LAURSold
15 May 2026GPORSold
15 May 2026DARSold
15 May 2026CHTRSold
20 Feb 2026NXSold
20 Feb 2026HWMSold
14 Nov 2025WLYSold
14 Nov 2025VIPSSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest