Fortune Brands Innovations Inc: A Key Focus in First Pacific Advisors' Latest 13F Filing
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First Pacific Advisors (Trades, Portfolio) recently submitted its 13F filing for the second quarter of 2025, offering a glimpse into its strategic investment decisions. Based in Los Angeles, First Pacific Advisors (Trades, Portfolio) is renowned for its value investing approach, managing several funds including the FPA Capital Fund (Trades, Portfolio) and the FPA Crescent Fund. Under the leadership of CFO J. Richard Atwood, the firm emphasizes a value-oriented, research-intensive process, focusing on small- and mid-cap stocks. The firm prides itself on intellectual independence, running concentrated funds to hone in on the best ideas of its portfolio managers.
Summary of New Buy
First Pacific Advisors (Trades, Portfolio) added a total of six stocks to its portfolio this quarter. The most significant addition was Thermo Fisher Scientific Inc (NYSE:TMO), with 87,370 shares, accounting for 0.51% of the portfolio and valued at $35.4 million. Vipshop Holdings Ltd (NYSE:VIPS) was the second largest addition, with 179,634 shares representing approximately 0.04% of the portfolio, valued at $2.7 million. Maravai LifeSciences Holdings Inc (NASDAQ:MRVI) was the third largest addition, with 741,332 shares, accounting for 0.03% of the portfolio and valued at $1.8 million.
Key Position Increases
First Pacific Advisors (Trades, Portfolio) increased stakes in a total of 23 stocks. The most notable increase was in Fortune Brands Innovations Inc (NYSE:FBIN), with an additional 1,205,880 shares, bringing the total to 1,998,397 shares. This adjustment represents a significant 152.16% increase in share count, impacting the portfolio by 0.9%, with a total value of $102.9 million. The second largest increase was in Icon PLC (NASDAQ:ICLR), with an additional 417,173 shares, bringing the total to 964,120. This represents a 76.27% increase in share count, with a total value of $140.2 million.
Summary of Sold Out
First Pacific Advisors (Trades, Portfolio) completely exited one holding in the second quarter of 2025: Sotera Health Co (NASDAQ:SHC). The firm sold all 45,480 shares, resulting in a -0.01% impact on the portfolio.
Key Position Reduces
First Pacific Advisors (Trades, Portfolio) also reduced positions in 20 stocks. Notably, it reduced Wells Fargo & Co (NYSE:WFC) by 594,248 shares, resulting in a -22.61% decrease in shares and a -0.69% impact on the portfolio. The stock traded at an average price of $72.1 during the quarter, returning 9.24% over the past three months and 12.24% year-to-date. Additionally, Citigroup Inc (NYSE:C) was reduced by 525,706 shares, resulting in a -9.1% reduction in shares and a -0.6% impact on the portfolio. The stock traded at an average price of $72.26, returning 35.54% over the past three months and 32.12% year-to-date.
Portfolio Overview
As of the second quarter of 2025, First Pacific Advisors (Trades, Portfolio)' portfolio included 60 stocks. The top holdings were 8.33% in Meta Platforms Inc (NASDAQ:META), 7.21% in Analog Devices Inc (NASDAQ:ADI), 6.51% in TE Connectivity PLC (NYSE:TEL), 6.49% in Citigroup Inc (NYSE:C), and 6.34% in Alphabet Inc (NASDAQ:GOOGL).
The holdings are primarily concentrated in 11 industries: Communication Services, Technology, Financial Services, Consumer Cyclical, Industrials, Basic Materials, Healthcare, Energy, Real Estate, Utilities, and Consumer Defensive.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
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