The FPA Crescent Fund’s Q4 2023 Investor Letter

Investment management company First Pacific Advisors recently released its “The FPA Crescent Fund” fourth quarter 2023 investor letter. In the fourth quarter, the fund gained 7.52% and 20.27% in the trailing twelve months. In 2023, Crescent experienced a decrease in its net risk exposure from 74.6% to 70.1%. This decline was mainly attributed to securities that had less favorable risk/reward profiles. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

A copy of The FPA Crescent Fund’s Q4 2023 investor letter can be downloaded here.