N-PORT filing recap · December 2020

What did FPA Crescent Fund buy in December 2020?

Reported stock-position changes between this filing and the previous one. These are FPA Crescent Fund's own holdings, not the firm's.

Stock value

$7.46B

Positions

Estimated turnover

18.7%

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

FEFirstenergy Corp$85.39Mreported value+2.79M shares CFRAOCompagnie Financière Richemont SA$655.1Kreported value+2.52M shares

Increased positions

AONAon Plc$207.71Mreported value+286.9K shares+41.2%WFCWells Fargo & Company/mn$191.95Mreported value+426.9K shares+7.2%BABAAlibaba Group Holding Limited$116.56Mreported value+176.1K shares+54.2%SBNYSignature Bank$111.81Mreported value+94.5K shares

Reduced positions

CMCSAComcast Corporation$355.35Mreported value-573.7K shares-7.8%AVGOBroadcom Inc.$302.73Mreported value-69.9K shares-9.2%HOLNHolcim AG$295.66Mreported value-112.9K shares-2.1%AIGAmerican International Group, Inc.$293.53Mreported value-2.00M shares

Exited positions

MSFTMicrosoft Corporation$156.64Mprior reported value-744.7K shares-100.0%JDSHFJardine Strategic Holdings Limited$26.33Mprior reported value-1.33M shares-100.0%GWWW.w. Grainger, Inc.$-2.39Mprior reported value-6.7K shares-100.0%XLFTechnology Select Sector SPDR Fund$-82.04Mprior reported value