First Pacific Advisors, LP Diversified Active

CIK: 0001377581 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $7,596,164 (98.2% shares, 1.8% debt)

Holdings (64)

New Positions (4)

AMRZ AMRIZE LTD 2.4%

Value ($000) $184,309 Shares 3,408,072 Est. Cost $51.02 Unrealized 0.0%

LBRDK LIBERTY BROADBAND CORP 1.7%

Value ($000) $129,730 Shares 2,669,348 Est. Cost $52.01 Unrealized 0.0%

MICC MAGNUM ICE CREAM CO NV 0.4%

Value ($000) $26,908 Shares 1,697,675 Est. Cost $15.68 Unrealized 0.0%

HYBB ISHARES TR 0.0%

Value ($000) $13 Shares 286 Est. Cost $47.13 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AMRZ	AMRIZE LTD	3,408,072	$184,309	2.4%	$51.02	0.0%	SHS	H2927K103
LBRDK	LIBERTY BROADBAND CORP	2,669,348	$129,730	1.7%	$52.01	0.0%	COM SER C	530307305
MICC	MAGNUM ICE CREAM CO NV	1,697,675	$26,908	0.4%	$15.68	0.0%	ORD SHS	N5505D105
HYBB	ISHARES TR	286	$13	0.0%	$47.13	—	BB RAT CORP BD	46435U473

Increased Positions (17)

BDX BECTON DICKINSON & CO 5.0%

Value ($000) $378,678 (+116.1%) Shares 1,951,246 (+108.4%) Est. Cost $186.92 Unrealized +1.4%

IFF INTERNATIONAL FLAVORS&FRAGRA 4.7%

Value ($000) $358,922 (+18.9%) Shares 5,326,041 (+8.6%) Est. Cost $89.89 Unrealized -28.4%

FBIN FORTUNE BRANDS INNOVATIONS I 2.3%

Value ($000) $176,295 (+15.2%) Shares 3,524,498 (+23.0%) Est. Cost $55.99 Unrealized -11.1%

TMO THERMO FISHER SCIENTIFIC INC 1.7%

Value ($000) $126,652 (+21.5%) Shares 218,572 (+1.7%) Est. Cost $447.37 Unrealized +26.3%

NOV NOV INC 1.7%

Value ($000) $126,506 (+20.1%) Shares 8,093,810 (+1.8%) Est. Cost $13.91 Unrealized +6.6%

UBER UBER TECHNOLOGIES INC 1.0%

Value ($000) $77,891 (-15.0%) Shares 953,263 (+2.0%) Est. Cost $40.73 Unrealized +121.1%

DEI DOUGLAS EMMETT INC 0.9%

Value ($000) $71,753 (-13.6%) Shares 6,528,956 (+22.4%) Est. Cost $12.41 Unrealized —

BIO BIO RAD LABS INC 1.6%

Value ($000) $121,637 (+10.0%) Shares 401,457 (+1.8%) Est. Cost $303.82 Unrealized +2.7%

WAB WABTEC 1.2%

Value ($000) $94,889 (+8.4%) Shares 444,548 (+1.8%) Est. Cost $70.77 Unrealized +190.2%

MTN VAIL RESORTS INC 1.9%

Value ($000) $144,447 (-4.7%) Shares 1,087,702 (+7.4%) Est. Cost $174.11 Unrealized -15.5%

VYX NCR VOYIX CORPORATION 0.7%

Value ($000) $51,390 (+4.8%) Shares 5,038,208 (+28.9%) Est. Cost $13.51 Unrealized -19.6%

KMX CARMAX INC 1.5%

Value ($000) $112,986 (+1.5%) Shares 2,924,081 (+17.8%) Est. Cost $79.89 Unrealized -49.9%

PCG PG&E CORP 0.2%

Value ($000) $18,355 (+8.6%) Shares 1,142,167 (+1.9%) Est. Cost $26.61 Unrealized -40.2%

KMI KINDER MORGAN INC DEL 1.5%

Value ($000) $112,063 (-1.1%) Shares 4,076,504 (+1.8%) Est. Cost $12.11 Unrealized +122.2%

NFLX NETFLIX INC 0.0%

Value ($000) $1,538 (-21.8%) Shares 16,400 (+900.0%) Est. Cost $101.27 Unrealized +6.5%

SGOV ISHARES TR 0.1%

Value ($000) $4,099 (+11.3%) Shares 40,837 (+11.7%) Est. Cost $100.60 Unrealized —

VT VANGUARD INTL EQUITY INDEX F 0.0%

Value ($000) $2,785 (+12.5%) Shares 19,743 (+9.9%) Est. Cost $110.88 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BDX	BECTON DICKINSON & CO	1,951,246 (+108.4%)	$378,678 (+116.1%)	5.0%	$186.92	+1.4%	COM	075887109
IFF	INTERNATIONAL FLAVORS&FRAGRA	5,326,041 (+8.6%)	$358,922 (+18.9%)	4.7%	$89.89	-28.4%	COM	459506101
FBIN	FORTUNE BRANDS INNOVATIONS I	3,524,498 (+23.0%)	$176,295 (+15.2%)	2.3%	$55.99	-11.1%	COM	34964C106
TMO	THERMO FISHER SCIENTIFIC INC	218,572 (+1.7%)	$126,652 (+21.5%)	1.7%	$447.37	+26.3%	COM	883556102
NOV	NOV INC	8,093,810 (+1.8%)	$126,506 (+20.1%)	1.7%	$13.91	+6.6%	COM	62955J103
UBER	UBER TECHNOLOGIES INC	953,263 (+2.0%)	$77,891 (-15.0%)	1.0%	$40.73	+121.1%	COM	90353T100
DEI	DOUGLAS EMMETT INC	6,528,956 (+22.4%)	$71,753 (-13.6%)	0.9%	$12.41	—	COM	25960P109
BIO	BIO RAD LABS INC	401,457 (+1.8%)	$121,637 (+10.0%)	1.6%	$303.82	+2.7%	CL A	090572207
WAB	WABTEC	444,548 (+1.8%)	$94,889 (+8.4%)	1.2%	$70.77	+190.2%	COM	929740108
MTN	VAIL RESORTS INC	1,087,702 (+7.4%)	$144,447 (-4.7%)	1.9%	$174.11	-15.5%	COM	91879Q109
VYX	NCR VOYIX CORPORATION	5,038,208 (+28.9%)	$51,390 (+4.8%)	0.7%	$13.51	-19.6%	COM	62886E108
KMX	CARMAX INC	2,924,081 (+17.8%)	$112,986 (+1.5%)	1.5%	$79.89	-49.9%	COM	143130102
PCG	PG&E CORP	1,142,167 (+1.9%)	$18,355 (+8.6%)	0.2%	$26.61	-40.2%	COM	69331C108
KMI	KINDER MORGAN INC DEL	4,076,504 (+1.8%)	$112,063 (-1.1%)	1.5%	$12.11	+122.2%	COM	49456B101
NFLX	NETFLIX INC	16,400 (+900.0%)	$1,538 (-21.8%)	0.0%	$101.27	+6.5%	COM	64110L106
SGOV	ISHARES TR	40,837 (+11.7%)	$4,099 (+11.3%)	0.1%	$100.60	—	0-3 MNTH TREASRY	46436E718
VT	VANGUARD INTL EQUITY INDEX F	19,743 (+9.9%)	$2,785 (+12.5%)	0.0%	$110.88	—	TT WRLD ST ETF	922042742

Exited Positions (2)

HWM HOWMET AEROSPACE INC 0.8%

Value ($000) $63,968 Shares 325,984 Est. Cost $14.17 Unrealized +1304.9%

NX QUANEX BLDG PRODS CORP 0.0%

Value ($000) $2,364 Shares 166,231 Est. Cost $23.35 Unrealized -39.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
HWM	HOWMET AEROSPACE INC	325,984	$63,968	0.8%	$14.17	+1304.9%	—	443201108
NX	QUANEX BLDG PRODS CORP	166,231	$2,364	0.0%	$23.35	-39.7%	—	747619104

Decreased Positions (23)

CMCSA COMCAST CORP NEW 3.3%

Value ($000) $251,071 (-28.9%) Shares 8,399,831 (-25.3%) Est. Cost $31.73 Unrealized -10.1%

CHTR CHARTER COMMUNICATIONS INC N 1.3%

Value ($000) $96,343 (-45.8%) Shares 461,525 (-28.6%) Est. Cost $312.14 Unrealized -27.9%

GOOG ALPHABET INC 5.6%

Value ($000) $423,502 (+17.2%) Shares 1,349,592 (-9.0%) Est. Cost $107.40 Unrealized +166.6%

TEL TE CONNECTIVITY PLC 5.3%

Value ($000) $404,961 (-13.0%) Shares 1,779,970 (-16.0%) Est. Cost $146.90 Unrealized +57.4%

META META PLATFORMS INC 6.1%

Value ($000) $463,463 (-11.2%) Shares 702,121 (-1.2%) Est. Cost $183.87 Unrealized +262.9%

— ECHOSTAR CORP 1.7%

Value ($000) $131,292 (+33.4%) Shares 39,308,974 (-1.7%) Est. Cost $1.18 Unrealized —

C CITIGROUP INC 5.4%

Value ($000) $409,224 (+6.7%) Shares 3,506,931 (-7.2%) Est. Cost $38.95 Unrealized +166.1%

ADI ANALOG DEVICES INC 6.7%

Value ($000) $508,464 (+3.7%) Shares 1,874,867 (-6.0%) Est. Cost $44.02 Unrealized +469.3%

DELL DELL TECHNOLOGIES INC 0.6%

Value ($000) $48,210 (-18.7%) Shares 382,985 (-8.5%) Est. Cost $24.29 Unrealized +479.4%

SATS ECHOSTAR CORP 0.3%

Value ($000) $25,972 (-29.3%) Shares 238,933 (-50.3%) Est. Cost $20.85 Unrealized +290.5%

AMZN AMAZON COM INC 4.3%

Value ($000) $325,733 (+3.3%) Shares 1,411,199 (-1.8%) Est. Cost $127.67 Unrealized +79.2%

GOOGL ALPHABET INC 7.9%

Value ($000) $598,277 (+1.6%) Shares 1,911,429 (-21.1%) Est. Cost $106.84 Unrealized +167.3%

LPLA LPL FINL HLDGS INC 1.8%

Value ($000) $138,372 (-6.2%) Shares 387,412 (-12.6%) Est. Cost $41.95 Unrealized +743.1%

FERG FERGUSON ENTERPRISES INC 2.6%

Value ($000) $197,500 (-4.0%) Shares 887,120 (-3.2%) Est. Cost $194.33 Unrealized +22.4%

AVGO BROADCOM INC 0.4%

Value ($000) $29,803 (-21.3%) Shares 86,111 (-24.9%) Est. Cost $139.72 Unrealized +155.5%

AVTR AVANTOR INC 0.6%

Value ($000) $45,480 (-10.5%) Shares 3,968,620 (-2.5%) Est. Cost $12.90 Unrealized -4.6%

WFC WELLS FARGO CO NEW 1.4%

Value ($000) $103,436 (-4.5%) Shares 1,109,828 (-14.1%) Est. Cost $39.40 Unrealized +119.9%

GPOR GULFPORT ENERGY CORP 0.3%

Value ($000) $26,505 (-14.8%) Shares 127,434 (-25.8%) Est. Cost $64.90 Unrealized +207.2%

MAR MARRIOTT INTL INC NEW 1.6%

Value ($000) $120,949 (+3.0%) Shares 389,857 (-13.5%) Est. Cost $105.59 Unrealized +170.2%

LAUR LAUREATE EDUCATION INC 0.0%

Value ($000) $3,417 (-49.8%) Shares 101,485 (-53.0%) Est. Cost $11.95 Unrealized +158.2%

UPWK UPWORK INC 0.0%

Value ($000) $1,131 (-41.9%) Shares 57,081 (-45.6%) Est. Cost $14.49 Unrealized +26.6%

RUSHA RUSH ENTERPRISES INC 0.1%

Value ($000) $7,988 (-6.1%) Shares 148,094 (-6.9%) Est. Cost $26.77 Unrealized +94.1%

PARR PAR PAC HOLDINGS INC 0.0%

Value ($000) $1,536 (-22.6%) Shares 43,716 (-22.0%) Est. Cost $14.69 Unrealized +170.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CMCSA	COMCAST CORP NEW	8,399,831 (-25.3%)	$251,071 (-28.9%)	3.3%	$31.73	-10.1%	CL A	20030N101
CHTR	CHARTER COMMUNICATIONS INC N	461,525 (-28.6%)	$96,343 (-45.8%)	1.3%	$312.14	-27.9%	CL A	16119P108
GOOG	ALPHABET INC	1,349,592 (-9.0%)	$423,502 (+17.2%)	5.6%	$107.40	+166.6%	CAP STK CL C	02079K107
TEL	TE CONNECTIVITY PLC	1,779,970 (-16.0%)	$404,961 (-13.0%)	5.3%	$146.90	+57.4%	ORD SHS	G87052109
META	META PLATFORMS INC	702,121 (-1.2%)	$463,463 (-11.2%)	6.1%	$183.87	+262.9%	CL A	30303M102
—	ECHOSTAR CORP	39,308,974 (-1.7%)	$131,292 (+33.4%)	1.7%	$1.18	—	NOTE 3.875%11/3	278768AB2
C	CITIGROUP INC	3,506,931 (-7.2%)	$409,224 (+6.7%)	5.4%	$38.95	+166.1%	COM NEW	172967424
ADI	ANALOG DEVICES INC	1,874,867 (-6.0%)	$508,464 (+3.7%)	6.7%	$44.02	+469.3%	COM	032654105
DELL	DELL TECHNOLOGIES INC	382,985 (-8.5%)	$48,210 (-18.7%)	0.6%	$24.29	+479.4%	CL C	24703L202
SATS	ECHOSTAR CORP	238,933 (-50.3%)	$25,972 (-29.3%)	0.3%	$20.85	+290.5%	CL A	278768106
AMZN	AMAZON COM INC	1,411,199 (-1.8%)	$325,733 (+3.3%)	4.3%	$127.67	+79.2%	COM	023135106
GOOGL	ALPHABET INC	1,911,429 (-21.1%)	$598,277 (+1.6%)	7.9%	$106.84	+167.3%	CAP STK CL A	02079K305
LPLA	LPL FINL HLDGS INC	387,412 (-12.6%)	$138,372 (-6.2%)	1.8%	$41.95	+743.1%	COM	50212V100
FERG	FERGUSON ENTERPRISES INC	887,120 (-3.2%)	$197,500 (-4.0%)	2.6%	$194.33	+22.4%	COMMON STOCK NEW	31488V107
AVGO	BROADCOM INC	86,111 (-24.9%)	$29,803 (-21.3%)	0.4%	$139.72	+155.5%	COM	11135F101
AVTR	AVANTOR INC	3,968,620 (-2.5%)	$45,480 (-10.5%)	0.6%	$12.90	-4.6%	COM	05352A100
WFC	WELLS FARGO CO NEW	1,109,828 (-14.1%)	$103,436 (-4.5%)	1.4%	$39.40	+119.9%	COM	949746101
GPOR	GULFPORT ENERGY CORP	127,434 (-25.8%)	$26,505 (-14.8%)	0.3%	$64.90	+207.2%	COMMON SHARES	402635502
MAR	MARRIOTT INTL INC NEW	389,857 (-13.5%)	$120,949 (+3.0%)	1.6%	$105.59	+170.2%	CL A	571903202
LAUR	LAUREATE EDUCATION INC	101,485 (-53.0%)	$3,417 (-49.8%)	0.0%	$11.95	+158.2%	COMMON STOCK	518613203
UPWK	UPWORK INC	57,081 (-45.6%)	$1,131 (-41.9%)	0.0%	$14.49	+26.6%	COM	91688F104
RUSHA	RUSH ENTERPRISES INC	148,094 (-6.9%)	$7,988 (-6.1%)	0.1%	$26.77	+94.1%	CL A	781846209
PARR	PAR PAC HOLDINGS INC	43,716 (-22.0%)	$1,536 (-22.6%)	0.0%	$14.69	+170.6%	COM NEW	69888T207

Unchanged Positions (20)

VNO VORNADO RLTY TR 0.7%

Value ($000) $55,794 Shares 1,676,513 Est. Cost $19.35 Unrealized —

JEF JEFFERIES FINL GROUP INC 2.1%

Value ($000) $159,900 Shares 2,580,283 Est. Cost $16.51 Unrealized +243.3%

ICLR ICON PLC 2.4%

Value ($000) $178,722 Shares 980,804 Est. Cost $181.19 Unrealized -1.7%

NXPI NXP SEMICONDUCTORS N V 2.2%

Value ($000) $166,340 Shares 766,330 Est. Cost $119.70 Unrealized +78.5%

NATL NCR ATLEOS CORPORATION 1.0%

Value ($000) $77,771 Shares 2,040,700 Est. Cost $22.37 Unrealized +67.7%

AON AON PLC 3.0%

Value ($000) $231,677 Shares 656,531 Est. Cost $187.35 Unrealized +86.4%

SATS ECHOSTAR CORP 0.1%

Value ($000) $5,109 Shares 47,000 Est. Cost $20.85 Unrealized +290.5%

OEC ORION S.A. 0.0%

Value ($000) $2,204 Shares 417,388 Est. Cost $17.17 Unrealized -68.4%

STGW STAGWELL INC 0.1%

Value ($000) $5,828 Shares 1,191,918 Est. Cost $6.94 Unrealized -25.0%

ALGT ALLEGIANT TRAVEL CO 0.0%

Value ($000) $2,915 Shares 34,186 Est. Cost $91.28 Unrealized -21.7%

MRVI MARAVAI LIFESCIENCES HLDGS I 0.0%

Value ($000) $2,876 Shares 884,883 Est. Cost $2.17 Unrealized +54.8%

PDLB PONCE FINANCIAL GROUP INC 0.0%

Value ($000) $2,969 Shares 181,562 Est. Cost $9.35 Unrealized +64.7%

DAR DARLING INGREDIENTS INC 0.0%

Value ($000) $1,888 Shares 52,447 Est. Cost $33.00 Unrealized +2.6%

TDW TIDEWATER INC NEW 0.1%

Value ($000) $4,796 Shares 94,961 Est. Cost $21.35 Unrealized +147.4%

ASLE AERSALE CORPORATION 0.0%

Value ($000) $1,484 Shares 208,726 Est. Cost $6.40 Unrealized +9.7%

RSVR RESERVOIR MEDIA INC 0.0%

Value ($000) $2,491 Shares 329,066 Est. Cost $7.35 Unrealized +1.9%

— WAYFAIR INC 0.1%

Value ($000) $4,912 Shares 4,934,000 Est. Cost $0.57 Unrealized —

PBFS PIONEER BANCORP INC MD 0.0%

Value ($000) $2,251 Shares 166,974 Est. Cost $9.53 Unrealized +41.0%

EBC EASTERN BANKSHARES INC 0.0%

Value ($000) $1,583 Shares 85,883 Est. Cost $11.16 Unrealized +63.3%

UNIT UNITI GROUP LLC 0.0%

Value ($000) $177 Shares 25,235 Est. Cost $7.16 Unrealized -11.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VNO	VORNADO RLTY TR	1,676,513	$55,794	0.7%	$19.35	—	SH BEN INT	929042109
JEF	JEFFERIES FINL GROUP INC	2,580,283	$159,900	2.1%	$16.51	+243.3%	COM	47233W109
ICLR	ICON PLC	980,804	$178,722	2.4%	$181.19	-1.7%	SHS	G4705A100
NXPI	NXP SEMICONDUCTORS N V	766,330	$166,340	2.2%	$119.70	+78.5%	COM	N6596X109
NATL	NCR ATLEOS CORPORATION	2,040,700	$77,771	1.0%	$22.37	+67.7%	COM SHS	63001N106
AON	AON PLC	656,531	$231,677	3.0%	$187.35	+86.4%	SHS CL A	G0403H108
SATS	ECHOSTAR CORP	47,000	$5,109	0.1%	$20.85	+290.5%	PUT	278768106
OEC	ORION S.A.	417,388	$2,204	0.0%	$17.17	-68.4%	COM	L72967109
STGW	STAGWELL INC	1,191,918	$5,828	0.1%	$6.94	-25.0%	COM CL A	85256A109
ALGT	ALLEGIANT TRAVEL CO	34,186	$2,915	0.0%	$91.28	-21.7%	COM	01748X102
MRVI	MARAVAI LIFESCIENCES HLDGS I	884,883	$2,876	0.0%	$2.17	+54.8%	COM CL A	56600D107
PDLB	PONCE FINANCIAL GROUP INC	181,562	$2,969	0.0%	$9.35	+64.7%	COMMON STOCK	732344106
DAR	DARLING INGREDIENTS INC	52,447	$1,888	0.0%	$33.00	+2.6%	COM	237266101
TDW	TIDEWATER INC NEW	94,961	$4,796	0.1%	$21.35	+147.4%	COM	88642R109
ASLE	AERSALE CORPORATION	208,726	$1,484	0.0%	$6.40	+9.7%	COM	00810F106
RSVR	RESERVOIR MEDIA INC	329,066	$2,491	0.0%	$7.35	+1.9%	COM	76119X105
—	WAYFAIR INC	4,934,000	$4,912	0.1%	$0.57	—	NOTE 1.000% 8/1	94419LAF8
PBFS	PIONEER BANCORP INC MD	166,974	$2,251	0.0%	$9.53	+41.0%	COM	723561106
EBC	EASTERN BANKSHARES INC	85,883	$1,583	0.0%	$11.16	+63.3%	COM	27627N105
UNIT	UNITI GROUP LLC	25,235	$177	0.0%	$7.16	-11.5%	COM SHS	912932100