# Steven Romick — First Pacific Advisors

Source: SEC EDGAR 13F filings (CIK 0001377581).
Page URL: https://superinvestorclub.com/manager/289
Last updated: 2026-07-08T12:25:26.612Z

## Summary

As of the 2026-03-31 reporting period (filed 2026-05-14), Steven Romick reported 86 long equity positions in their First Pacific Advisors 13F filing, with a total reported value of $7.14B.

### About

FPA Crescent Fund, absolute value

## Top 25 holdings

| Rank | Ticker | Company | Shares | Value | % of Portfolio | Change |
|------|--------|---------|--------|-------|----------------|--------|
| 1 | ADI | ANALOG DEVICES INC | 1723135 | $548.2M | 7.68% | -8.1% |
| 2 | GOOGL | ALPHABET INC | 1683493 | $484.1M | 6.78% | -11.9% |
| 3 | IFF | INTERNATIONAL FLAVORS&FRAGRA | 5409925 | $392.5M | 5.50% | +1.6% |
| 4 | META | META PLATFORMS INC | 680613 | $389.4M | 5.45% | -3.1% |
| 5 | GOOG | ALPHABET INC | 1333157 | $382.4M | 5.36% | -1.2% |
| 6 | C | CITIGROUP INC | 3175212 | $360.1M | 5.04% | -9.5% |
| 7 | TEL | TE CONNECTIVITY PLC | 1650857 | $345.1M | 4.83% | -7.3% |
| 8 | BDX | BECTON DICKINSON & CO | 1980440 | $311.4M | 4.36% | +1.5% |
| 9 | AMZN | AMAZON COM INC | 1416219 | $295.0M | 4.13% | +0.4% |
| 10 | CMCSA | Comcast Corporation | 8592563 | $246.7M | 3.46% | +2.3% |
| 11 | LBRDP | LIBERTY BROADBAND CORP | 4642610 | $233.5M | 3.27% | +73.9% |
| 12 | AON | AON PLC | 703258 | $227.0M | 3.18% | +7.1% |
| 13 | FERG | FERGUSON ENTERPRISES INC | 816993 | $190.6M | 2.67% | -7.9% |
| 14 | AMRZ | AMRIZE LTD | 3146383 | $176.3M | 2.47% | -7.7% |
| 15 | NXPI | NXP SEMICONDUCTORS N V | 768915 | $151.4M | 2.12% | +0.3% |
| 16 | MTN | VAIL RESORTS INC | 1176350 | $150.9M | 2.11% | +8.2% |
| 17 | FBIN | FORTUNE BRANDS INNOVATIONS I | 3792230 | $147.8M | 2.07% | +7.6% |
| 18 | SATS | ECHOSTAR CORP | 36570974 | $130.6M | 1.83% | -7.0% |
| 19 | KMX | CARMAX INC | 2981709 | $124.0M | 1.74% | +2.0% |
| 20 | NOV | NOV INC | 6320758 | $118.9M | 1.67% | -21.9% |
| 21 | BIO | BIO RAD LABS INC | 407358 | $113.6M | 1.59% | +1.5% |
| 22 | BAX | BAXTER INTL INC | 6700925 | $112.6M | 1.58% | NEW |
| 23 | ICLR | ICON PLC | 991075 | $109.7M | 1.54% | +1.0% |
| 24 | TMO | THERMO FISHER SCIENTIFIC INC | 221896 | $109.1M | 1.53% | +1.5% |
| 25 | JEF | JEFFERIES FINANCIAL GROUP IN | 2586501 | $106.7M | 1.50% | +0.2% |

## New positions this quarter (27)

- BAX (BAXTER INTL INC): 6700925 shares, $112.6M
- AJG (GALLAGHER ARTHUR J & CO): 387687 shares, $84.0M
- WAT (WATERS CORP): 267472 shares, $79.7M
- PYPL (PAYPAL HLDGS INC): 1391409 shares, $62.9M
- CNH (CNH INDL N V): 4809255 shares, $52.9M
- MRSH (MARSH & MCLENNAN COS INC): 108697 shares, $18.9M
- VBIL (VANGUARD INSTL INDEX FD): 90159 shares, $6.8M
- GLD (SPDR Gold Shares): 13995 shares, $6.0M
- EQPT (EQUIPMENTSHARE COM INC): 285714 shares, $5.8M
- FNV (FRANCO NEV CORP): 6611 shares, $1.6M
- CVX (CHEVRON CORPORATION): 6144 shares, $1.3M
- SCCO (SOUTHERN COPPER CORP): 7056 shares, $1.2M
- ROST (ROSS STORES INC): 5154 shares, $1.1M
- TSLA (TESLA INC): 3000 shares, $1.1M
- EMR (EMERSON ELEC CO): 8426 shares, $1.1M
- DG (DOLLAR GEN CORP): 9077 shares, $1.1M
- CSL (CARLISLE COS INC): 2632 shares, $878,088
- ORLY (OREILLY AUTOMOTIVE INC): 8355 shares, $771,250
- NVST (ENVISTA HOLDINGS CORPORATION): 30397 shares, $771,172
- DIS (DISNEY WALT CO): 7872 shares, $758,703

## Increased positions (24)

- IFF: 5409925 shares (+1.6%), $392.5M
- BDX: 1980440 shares (+1.5%), $311.4M
- AMZN: 1416219 shares (+0.4%), $295.0M
- CMCSA: 8592563 shares (+2.3%), $246.7M
- LBRDP: 4642610 shares (+73.9%), $233.5M
- AON: 703258 shares (+7.1%), $227.0M
- NXPI: 768915 shares (+0.3%), $151.4M
- MTN: 1176350 shares (+8.2%), $150.9M
- FBIN: 3792230 shares (+7.6%), $147.8M
- KMX: 2981709 shares (+2.0%), $124.0M
- BIO: 407358 shares (+1.5%), $113.6M
- ICLR: 991075 shares (+1.0%), $109.7M
- TMO: 221896 shares (+1.5%), $109.1M
- JEF: 2586501 shares (+0.2%), $106.7M
- DEI: 8636970 shares (+32.3%), $81.4M
- UBER: 969817 shares (+1.7%), $69.8M
- WFC: 872730 shares (-21.4%), $69.5M
- AVTR: 8089023 shares (+103.8%), $63.4M
- VNO: 1680601 shares (+0.2%), $43.7M
- NCRRP: 5405082 shares (+7.3%), $34.2M

## Reduced positions (22)

- ADI: 1723135 shares (-8.1%), $548.2M
- GOOGL: 1683493 shares (-11.9%), $484.1M
- META: 680613 shares (-3.1%), $389.4M
- GOOG: 1333157 shares (-1.2%), $382.4M
- C: 3175212 shares (-9.5%), $360.1M
- TEL: 1650857 shares (-7.3%), $345.1M
- FERG: 816993 shares (-7.9%), $190.6M
- AMRZ: 3146383 shares (-7.7%), $176.3M
- SATS: 36570974 shares (-7.0%), $130.6M
- NOV: 6320758 shares (-21.9%), $118.9M
- LPLA: 320624 shares (-17.2%), $96.5M
- MAR: 232754 shares (-40.3%), $76.1M
- WAB: 260732 shares (-41.3%), $65.2M
- EP-PC: 1332715 shares (-67.3%), $44.7M
- AVGO: 62465 shares (-27.5%), $19.3M
- RUSHB: 129094 shares (-12.8%), $8.5M
- TDGMW: 82549 shares (-13.1%), $6.9M
- NATL: 110933 shares (-94.6%), $4.8M
- RSVR: 308747 shares (-6.2%), $3.0M
- PARR: 32651 shares (-25.3%), $2.0M

## Sold positions (5)

- CHTR: previously held 461525 shares worth $96.3M
- GPOR: previously held 127434 shares worth $26.5M
- SGOV: previously held 40837 shares worth $4.1M
- LAUR: previously held 101485 shares worth $3.4M
- DAR: previously held 52447 shares worth $1.9M

## Filing history (7)

- 2026-03-31 (filed 2026-05-14)
- 2025-12-31 (filed 2026-02-17)
- 2025-09-30 (filed 2025-11-13)
- 2025-06-30 (filed 2025-08-01)
- 2025-03-31 (filed 2025-05-06)
- 2024-12-31 (filed 2025-02-07)
- 2024-09-30 (filed 2024-11-04)

## Citation

When citing, use: "Steven Romick, First Pacific Advisors, SEC 13F filing for period 2026-03-31, via Superinvestor (https://superinvestorclub.com/manager/289)".