Investment management company First Pacific Advisors recently released its “FPA Crescent Fund” first-quarter 2026 investor letter.
A copy of the letter can be downloaded here
The Fund (Institutional Class) returned -1.55% in the first quarter, while achieving a 16.06% gain in the trailing twelve months. Its twelve-month return was 80.3% of the global market (MSCI AWCI), outperforming its average net risk exposure of 63.8% during the same period. In addition, please check the Fund’s top five holdings to know its best picks in 2026.
In its first-quarter 2026 investor letter, FPA Crescent Fund highlighted stocks like Aon plc (NYSE:AON). Aon plc (NYSE:AON) is a professional services firm providing risk management, insurance brokerage, and human capital consulting solutions to organizations. On May 13, 2026, Aon plc (NYSE:AON) closed at $310.90 per share.