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First Pacific Advisors, LP

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13F filer, CIK 1377581, EL SEGUNDO, CA

First Pacific Advisors, LP reported $7,234,647,068 across 62 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-13. Its ten largest share positions make up 55.52% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001377581-25-000013

Period
2025-09-30
Reported value
$7.23B
Holdings
62
Top 10 weight
55.52%
New
3
Sold out
4

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BDXnew+936,257$175M
TMOadded+127,576$61.9M
AVTRadded+3,995,978$49.9M
IFFadded+792,335$48.8M
FBINadded+867,694$46.3M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
Creduced-1,473,906-$150M
TELreduced-537,585-$118M
FERGreduced-339,766-$76.3M
ECHOreduced-954,741-$72.9M
WFCreduced-742,630-$62.2M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001377581-25-000013, largest first. % of portfolio is the value over $7,231,058,148, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,818,369 shares; 2024Q4: 2,689,681 shares; 2025Q1: 2,555,321 shares; 2025Q2: 2,478,411 shares; 2025Q3: 2,422,319 shares 2,422,319$589M8.14%-56,092Timeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 911,003 shares; 2024Q4: 892,456 shares; 2025Q1: 782,479 shares; 2025Q2: 777,005 shares; 2025Q3: 710,995 shares 710,995$522M7.22%-66,010Timeline
ADIANALOG DEVICES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,103,118 shares; 2024Q4: 2,110,767 shares; 2025Q1: 2,105,456 shares; 2025Q2: 2,085,045 shares; 2025Q3: 1,995,126 shares 1,995,126$490M6.78%-89,919Timeline
TELTE CONNECTIVITY PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,738,006 shares; 2024Q4: 2,662,439 shares; 2025Q1: 2,683,212 shares; 2025Q2: 2,656,748 shares; 2025Q3: 2,119,163 shares 2,119,163$465M6.43%-537,585Timeline
CCITIGROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,842,216 shares; 2024Q4: 6,760,177 shares; 2025Q1: 5,778,727 shares; 2025Q2: 5,253,021 shares; 2025Q3: 3,779,115 shares 3,779,115$384M5.3%-1,473,906Timeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,815,951 shares; 2024Q4: 1,816,429 shares; 2025Q1: 1,599,254 shares; 2025Q2: 1,578,827 shares; 2025Q3: 1,483,648 shares 1,483,648$361M5%-95,179Timeline
CMCSACOMCAST CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,805,634 shares; 2024Q4: 10,868,463 shares; 2025Q1: 10,956,640 shares; 2025Q2: 11,091,559 shares; 2025Q3: 11,238,728 shares 11,238,728$353M4.88%+147,169Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,636,649 shares; 2024Q4: 1,534,902 shares; 2025Q1: 1,446,007 shares; 2025Q2: 1,461,135 shares; 2025Q3: 1,436,376 shares 1,436,376$315M4.36%-24,759Timeline
IFFINTERNATIONAL FLAVORS&FRAGRAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,006,782 shares; 2024Q4: 4,029,773 shares; 2025Q1: 4,062,075 shares; 2025Q2: 4,111,527 shares; 2025Q3: 4,903,862 shares 4,903,862$302M4.17%+792,335Timeline
AONAON PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 733,988 shares; 2024Q4: 728,493 shares; 2025Q1: 680,012 shares; 2025Q2: 652,019 shares; 2025Q3: 654,445 shares 654,445$233M3.23%+2,426Timeline
FERGFERGUSON ENTERPRISES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,098,557 shares; 2024Q4: 1,102,740 shares; 2025Q1: 1,251,631 shares; 2025Q2: 1,256,151 shares; 2025Q3: 916,385 shares 916,385$206M2.85%-339,766Timeline
CHTRCHARTER COMMUNICATIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 610,632 shares; 2024Q4: 614,122 shares; 2025Q1: 619,009 shares; 2025Q2: 626,508 shares; 2025Q3: 646,100 shares 646,100$178M2.46%+19,592Timeline
BDXBECTON DICKINSON & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 936,257 shares 936,257$175M2.42%newTimeline
NXPINXP SEMICONDUCTORS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 778,506 shares; 2024Q4: 783,232 shares; 2025Q1: 756,686 shares; 2025Q2: 764,890 shares; 2025Q3: 765,060 shares 765,060$174M2.41%+170Timeline
ICLRICON PUB LTD COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 353,656 shares; 2024Q4: 451,757 shares; 2025Q1: 546,947 shares; 2025Q2: 964,120 shares; 2025Q3: 974,325 shares 974,325$171M2.36%+10,205Timeline
JEFJEFFERIES FINANCIAL GROUP INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,914,280 shares; 2024Q4: 2,801,498 shares; 2025Q1: 2,580,823 shares; 2025Q2: 2,580,283 shares; 2025Q3: 2,580,283 shares 2,580,283$169M2.33%0Timeline
FBINFORTUNE BRANDS INNOVATIONS IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 245,641 shares; 2024Q4: 247,018 shares; 2025Q1: 792,517 shares; 2025Q2: 1,998,397 shares; 2025Q3: 2,866,091 shares 2,866,091$153M2.12%+867,694Timeline
MTNVAIL RESORTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 464,801 shares; 2024Q4: 522,285 shares; 2025Q1: 805,584 shares; 2025Q2: 993,735 shares; 2025Q3: 1,012,933 shares 1,012,933$152M2.1%+19,198Timeline
LPLALPL FINL HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 458,362 shares; 2024Q4: 458,289 shares; 2025Q1: 457,941 shares; 2025Q2: 443,503 shares; 2025Q3: 443,503 shares 443,503$148M2.04%0Timeline
MARMARRIOTT INTL INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 612,502 shares; 2024Q4: 555,259 shares; 2025Q1: 445,066 shares; 2025Q2: 450,714 shares; 2025Q3: 450,765 shares 450,765$117M1.62%+51Timeline
KMIKINDER MORGAN INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,189,754 shares; 2024Q4: 7,608,900 shares; 2025Q1: 4,471,851 shares; 2025Q2: 3,939,890 shares; 2025Q3: 4,003,122 shares 4,003,122$113M1.57%+63,232Timeline
KMXCARMAX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,383,575 shares; 2024Q4: 2,397,062 shares; 2025Q1: 2,415,974 shares; 2025Q2: 2,431,244 shares; 2025Q3: 2,481,461 shares 2,481,461$111M1.54%+50,217Timeline
BIOBIO RAD LABS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 157,877 shares; 2024Q4: 157,850 shares; 2025Q1: 372,555 shares; 2025Q2: 386,949 shares; 2025Q3: 394,414 shares 394,414$111M1.53%+7,465Timeline
WFCWELLS FARGO & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,272,546 shares; 2024Q4: 3,769,719 shares; 2025Q1: 2,628,517 shares; 2025Q2: 2,034,269 shares; 2025Q3: 1,291,639 shares 1,291,639$108M1.5%-742,630Timeline
NOVNOV INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,705,128 shares; 2025Q1: 3,492,196 shares; 2025Q2: 7,018,950 shares; 2025Q3: 7,946,901 shares 7,946,901$105M1.46%+927,951Timeline
TMOTHERMO FISHER SCIENTIFIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 87,370 shares; 2025Q3: 214,946 shares 214,946$104M1.44%+127,576Timeline
UBERUBER TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,433,144 shares; 2024Q4: 1,191,597 shares; 2025Q1: 1,201,244 shares; 2025Q2: 1,028,628 shares; 2025Q3: 934,963 shares 934,963$91.6M1.27%-93,665Timeline
WABWABTECQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 592,009 shares; 2024Q4: 472,657 shares; 2025Q1: 429,960 shares; 2025Q2: 435,963 shares; 2025Q3: 436,663 shares 436,663$87.5M1.21%+700Timeline
DEIDOUGLAS EMMETT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,497,413 shares; 2024Q4: 5,338,673 shares; 2025Q1: 5,335,163 shares; 2025Q2: 5,334,173 shares; 2025Q3: 5,334,173 shares 5,334,173$83.1M1.15%0Timeline
NATLNCR ATLEOS CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,290,155 shares; 2024Q4: 2,289,835 shares; 2025Q1: 2,288,255 shares; 2025Q2: 2,287,815 shares; 2025Q3: 2,040,700 shares 2,040,700$80.2M1.11%-247,115Timeline
VNOVORNADO RLTY TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,926,795 shares; 2024Q4: 1,797,749 shares; 2025Q1: 1,676,858 shares; 2025Q2: 1,676,513 shares; 2025Q3: 1,676,513 shares 1,676,513$67.9M0.94%0Timeline
HWMHOWMET AEROSPACE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,019,458 shares; 2024Q4: 729,258 shares; 2025Q1: 607,906 shares; 2025Q2: 427,259 shares; 2025Q3: 325,984 shares 325,984$64M0.88%-101,275Timeline
DELLDELL TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 432,226 shares; 2024Q4: 418,505 shares; 2025Q1: 418,505 shares; 2025Q2: 418,505 shares; 2025Q3: 418,505 shares 418,505$59.3M0.82%0Timeline
AVTRAVANTOR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 75,000 shares; 2025Q3: 4,070,978 shares 4,070,978$50.8M0.7%+3,995,978Timeline
VYXNCR VOYIX CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,464,814 shares; 2024Q4: 3,464,324 shares; 2025Q1: 3,702,391 shares; 2025Q2: 3,908,807 shares; 2025Q3: 3,908,807 shares 3,908,807$49.1M0.68%0Timeline
AVGOBROADCOM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 642,120 shares; 2024Q4: 358,276 shares; 2025Q1: 195,035 shares; 2025Q2: 119,516 shares; 2025Q3: 114,719 shares 114,719$37.8M0.52%-4,797Timeline
ECHOECHOSTAR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,051,512 shares; 2024Q4: 1,051,342 shares; 2025Q1: 1,050,542 shares; 2025Q2: 1,435,567 shares; 2025Q3: 480,826 shares 480,826$36.7M0.51%-954,741Timeline
GPORGULFPORT ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 382,614 shares; 2024Q4: 344,320 shares; 2025Q1: 296,979 shares; 2025Q2: 171,812 shares; 2025Q3: 171,812 shares 171,812$31.1M0.43%0Timeline
PCGPG&E CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,146,333 shares; 2024Q4: 1,080,427 shares; 2025Q1: 1,089,398 shares; 2025Q2: 1,103,117 shares; 2025Q3: 1,121,221 shares 1,121,221$16.9M0.23%+18,104Timeline
RUSHARUSH ENTERPRISES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 183,942 shares; 2024Q4: 183,942 shares; 2025Q1: 172,637 shares; 2025Q2: 159,094 shares; 2025Q3: 159,094 shares 159,094$8.51M0.12%0Timeline
LAURLAUREATE ED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 819,095 shares; 2024Q4: 726,055 shares; 2025Q1: 426,781 shares; 2025Q2: 398,230 shares; 2025Q3: 216,012 shares 216,012$6.81M0.09%-182,218Timeline
STGWSTAGWELL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,072,711 shares; 2024Q4: 1,123,516 shares; 2025Q1: 1,191,918 shares; 2025Q2: 1,191,918 shares; 2025Q3: 1,191,918 shares 1,191,918$6.71M0.09%0Timeline
TDWTIDEWATER INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 94,961 shares; 2024Q4: 94,961 shares; 2025Q1: 94,961 shares; 2025Q2: 94,961 shares; 2025Q3: 94,961 shares 94,961$5.06M0.07%0Timeline
SGOVISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 41,241 shares; 2024Q4: 55,996 shares; 2025Q1: 41,816 shares; 2025Q2: 48,123 shares; 2025Q3: 36,572 shares 36,572$3.68M0.05%-11,551Timeline
OECORION S.A.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 318,477 shares; 2024Q4: 318,477 shares; 2025Q1: 335,608 shares; 2025Q2: 367,751 shares; 2025Q3: 417,388 shares 417,388$3.16M0.04%+49,637Timeline
RSVRRESERVOIR MEDIA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 13,196 shares; 2024Q4: not reported; 2025Q1: 6,573 shares; 2025Q2: 329,066 shares; 2025Q3: 329,066 shares 329,066$2.68M0.04%0Timeline
PDLBPONCE FINANCIAL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 181,562 shares; 2024Q4: 181,562 shares; 2025Q1: 181,562 shares; 2025Q2: 181,562 shares; 2025Q3: 181,562 shares 181,562$2.67M0.04%0Timeline
MRVIMARAVAI LIFESCIENCES HLDGS IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 741,332 shares; 2025Q3: 884,883 shares 884,883$2.54M0.04%+143,551Timeline
VTVANGUARD INTL EQUITY INDEX FQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 13,282 shares; 2024Q4: 15,064 shares; 2025Q1: 16,249 shares; 2025Q2: 16,777 shares; 2025Q3: 17,965 shares 17,965$2.48M0.03%+1,188Timeline
NXQUANEX BLDG PRODS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 142,500 shares; 2024Q4: 75,057 shares; 2025Q1: 133,678 shares; 2025Q2: 155,000 shares; 2025Q3: 166,231 shares 166,231$2.36M0.03%+11,231Timeline
PBFSPIONEER BANCORP INC MDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 166,974 shares; 2024Q4: 166,974 shares; 2025Q1: 166,974 shares; 2025Q2: 166,974 shares; 2025Q3: 166,974 shares 166,974$2.18M0.03%0Timeline
ALGTALLEGIANT TRAVEL COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 34,186 shares; 2024Q4: 34,186 shares; 2025Q1: 34,186 shares; 2025Q2: 34,186 shares; 2025Q3: 34,186 shares 34,186$2.08M0.03%0Timeline
PARRPAR PAC HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 71,812 shares; 2024Q4: 71,812 shares; 2025Q1: 71,812 shares; 2025Q2: 72,632 shares; 2025Q3: 56,034 shares 56,034$1.98M0.03%-16,598Timeline
NFLXNETFLIX INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 48,077 shares; 2024Q4: 2,799 shares; 2025Q1: 2,340 shares; 2025Q2: 2,340 shares; 2025Q3: 1,640 shares 1,640$1.97M0.03%-700Timeline
UPWKUPWORK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 104,881 shares; 2024Q4: 104,881 shares; 2025Q1: 104,881 shares; 2025Q2: 104,881 shares; 2025Q3: 104,881 shares 104,881$1.95M0.03%0Timeline
ASLEAERSALE CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 249,584 shares; 2025Q3: 208,726 shares 208,726$1.71M0.02%-40,858Timeline
DARDARLING INGREDIENTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 42,638 shares; 2025Q3: 52,447 shares 52,447$1.62M0.02%+9,809Timeline
EBCEASTERN BANKSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 121,689 shares; 2024Q4: 121,689 shares; 2025Q1: 85,883 shares; 2025Q2: 85,883 shares; 2025Q3: 85,883 shares 85,883$1.56M0.02%0Timeline
UNITUNITI GROUP LLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 25,235 shares 25,235$154K<0.01%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
ECHOECHOSTAR CORP CL Aput47,000$3.59Mnew

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
ECHOSTAR CORPECHOSTAR CORP NOTE 3.875%11/3principal40,000,000$98.4M0
WAYFAIR INCWAYFAIR INC NOTE 1.000% 8/1principal4,934,000$4.84M0

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
WAYFAIR INCWAYFAIR INC52,718,000$51.5Mprincipal
VIPSVIPSHOP HLDGS LTD179,634$2.7Mshares
ENSTAR GROUP LIMITEDENSTAR GROUP LIMITED6,901$2.32Mshares
WLYWILEY JOHN & SONS INC39,140$1.75Mshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001377581-25-000013 base2025-11-13acceptance time not in the bulk data set