FPA U.S. Core Equity Fund Inc.’s Q4 2022 Investor Letter

Investment management company First Pacific Advisors recently released its “FPA U.S. Core Equity Fund Inc.” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. The fund delivered a 4.17% net return in the fourth quarter compared to a 7.56% return for the S&P 500 Index. For the year 2022, the fund declined -28.65% net compared to the -18.11% return for the benchmark. Overweight exposure to the Consumer Discretionary and Communication Services Sectors led the fund to underperform in the quarter.  In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.