N-PORT filing recap · December 2024

What did FPA Crescent Fund buy in December 2024?

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

$6.09B

Positions

Estimated turnover

8.6%

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.

Period in review

FPA Crescent Fund exited Netflix, Herbalife, and Just Eat Takeaway.com during December. It also trimmed Jefferies Financial Group and Wells Fargo, while adding to Heineken Holding and JDE Peet’s. Eurofins Scientific and McDermott International were increased sharply, and Pernod Ricard and Nexon were added to substantially.

Increased positions

HEIOHeineken Holding N.v.$164.49Mreported value+328.4K shares+13.6%JDEPJde Peet'S N.v.$99.93Mreported value+707.4K shares+13.8%CFRCompagnie Financière Richemont SA$93.45Mreported value+11.3K shares+1.9%ERFEurofins Scientific SE$83.62Mreported value+1.16M shares+243.0%

Reduced positions

GOOGLAlphabet Inc.$352.94Mreported value-95.8K shares-4.9%METAMeta Platforms, Inc.$338.72Mreported value-16.7K shares-2.8%CCitigroup Inc$308.00Mreported value-77.0K shares-1.7%ADIAnalog Devices, Inc.$295.03Mreported value-4.2K shares

Exited positions

NFLXNetflix, Inc.$20.60Mprior reported value-29.0K shares-100.0%HLFHerbalife Ltd.$11.71Mprior reported value-1.63M shares-100.0%TKWYJust Eat Takeaway.com N.v.$9.70Mprior reported value-646.5K shares-100.0%