Published on 13 Apr 2024 on GuruFocus.com via Yahoo Finance
Steven Romick's Strategic Exits and New Positions in Q1 2024, Highlighting AIG's Departure
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.