Published on 13 Apr 2024 on GuruFocus.com via Yahoo Finance
Insights into FPA Crescent Fund's Latest Portfolio Adjustments
Steven Romick (Trades, Portfolio), a seasoned portfolio manager at FPA, has revealed his investment strategy for the first quarter of 2024 through the latest N-PORT filing. With a history dating back to 1996 at FPA and prior roles including Chairman of Crescent Management and a consulting security analyst, Romick brings a wealth of experience to the table. He holds a Bachelor's degree in Education from Northwestern University. The FPA Crescent Fund, known for its long and short equity positions, seeks value across a company's capital structure, focusing on undervalued stocks and bonds that are out of favor with the consensus. The fund's approach is rooted in absolute value investing, aligning interests with clients, a broad mandate, and a long-term focus, often accepting short-term underperformance for future success.