FPA Crescent Fund’s Q1 2023 Investor Letter

Investment management company First Pacific Advisors recently released its “FPA Crescent Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. The fund (Institutional Class) returned 5.76% in the first quarter but declined 0.91% in the trailing twelve months. The fund’s top five performers contributed 4.56% to its return in the last twelve months, while its bottom five performers detracted 4.37%. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.