13F filing recap · Q3 2015

What did First Pacific Advisors buy in Q3 2015?

Reported stock-position changes between this filing and the previous one. US-listed stocks across every FPA-managed account, including accounts that belong to no fund below.

Stock value

$11.55B

Positions

135

Estimated turnover

34.6%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

New positions

ESLEsterline Technologies Corp$227.77Mreported value+3.17M shares BIDUBaidu, Inc.$208.75Mreported value+1.52M shares NBLNoble Energy, Inc.$67.67Mreported value+2.24M shares AXPAmerican Express Co$59.99Mreported value+809.3K shares LMLegg Mason Inc$54.05Mreported value+1.30M shares PTENPatterson Uti Energy Inc$52.19Mreported value+3.97M shares HALHalliburton Company$39.22Mreported value+1.11M shares BWEURBabcock & Wilcox Enterprises, Inc.$26.88Mreported value+1.60M shares BWXTBwx Technologies, Inc.$23.63Mreported value+896.4K shares FOXATwenty-First Century Fox, Inc.$13.46Mreported value+498.7K shares AMPAmeriprise Financial Inc$12.18Mreported value+111.6K shares CMICummins Inc$12.16Mreported value+112.0K shares HMHCHoughton Mifflin Harcourt Co$11.90Mreported value+586.0K shares TWXTime Warner Inc$11.88Mreported value+172.7K shares IRIngersoll Rand Inc.$11.55Mreported value+227.4K shares IVZInvesco Ltd.$8.85Mreported value+283.4K shares MCKMckesson Corporation$8.77Mreported value+47.4K shares AGNAllergan Plc$8.31Mreported value+30.6K shares KKRKkr & Co. Inc.$7.44Mreported value+443.2K shares AMGNAmgen Inc.$7.37Mreported value+53.3K shares MSGNMsg Networks Inc$7.11Mreported value+98.5K shares DISCKDiscovery, Inc.$6.63Mreported value+272.7K shares RLRalph Lauren Corporation$4.65Mreported value+39.3K shares DALDelta Air Lines, Inc.$4.63Mreported value+103.2K shares BLKBlackrock, Inc.$4.61Mreported value+15.5K shares RUSHARush Enterprises, Inc.$4.52Mreported value+186.7K shares FOXATwenty-First Century Fox, Inc.$3.19Mreported value+118.0K shares PYPLPayPal Holdings, Inc.$773.0Kreported value+24.9K shares FELPForesight Energy LP$275.0Kreported value+51.6K shares FMCCHFederal Home Loan Mortgage Corp$14.0Kreported value+1.9K shares

Increased positions

ORCLOracle Corporation$861.04Mreported value+3.56M shares+17.5%MSFTMicrosoft Corporation$748.56Mreported value+433.7K shares+2.6%AONAon Plc$658.94Mreported value+285.1K shares+4.0%CCitigroup Inc$540.40Mreported value+1.27M shares

Reduced positions

TMOThermo Fisher Scientific Inc.$236.43Mreported value-1.51M shares-43.9%OXYOccidental Petroleum Corporation$223.61Mreported value-147.6K shares-4.2%WBAWalgreens Boots Alliance Inc$163.26Mreported value-392.5K shares-16.7%ARRSArris Group Inc$154.70Mreported value-3.98M shares

Exited positions

MDTMedtronic Plc$160.75Mprior reported value-2.17M shares-100.0%ROSERosetta Resources Inc.$94.47Mprior reported value-4.08M shares-100.0%ATWAtwood Oceanics Inc$69.01Mprior reported value-2.61M shares-100.0%BWCBwx Technologies, Inc.$45.47Mprior reported value-1.39M shares