N-PORT filing recap · June 2025

What did FPA Crescent Fund buy in June 2025?

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

$6.22B

Positions

Estimated turnover

8.0%

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 opened a new position in Amrize Ltd and exited Northern Star Investment Corp. IV. It trimmed Citigroup, Holcim, Wells Fargo, Kinder Morgan, Uber, Nexon, and Howmet Aerospace, while substantially reducing Gulfport Energy and Broadcom. The fund significantly added to ICON PLC and Fortune Brands Innovations, and also increased Vail Resorts and Echostar.

New positions

AMRZAmrize Ltd$121.18Mreported value+2.43M shares

Increased positions

GLENGlencore Plc$105.01Mreported value+1.94M shares+7.7%MTNVail Resorts, Inc.$98.82Mreported value+115.0K shares+22.4%ICLRICON PLC$84.40Mreported value+237.3K shares+69.2%FBINFortune Brands Innovations, Inc.$66.07Mreported value+766.4K shares

Reduced positions

METAMeta Platforms, Inc.$367.33Mreported value-4.2K shares-0.8%ADIAnalog Devices, Inc.$326.89Mreported value-2.0K shares-0.1%CCitigroup Inc$281.99Mreported value-395.0K shares-10.7%AONAon Plc$170.44Mreported value-16.2K shares

Exited positions

NSTDNorthern Star Investment Corp. IV$0prior reported value-70.9K shares-100.0%