Investment Objective

The Fund’s primary investment objective is long-term growth of capital. Current income is a secondary consideration.

Absolute Value

Small- and mid-cap companies with competitive positions, little to no leverage, with 3:1 upside/downside scenarios.

Concentrated

Benchmark-agnostic portfolio of typically 20-40 holdings.

Low Turnover, Long-Term Focus

Average holdings period of ~7 years.

Fund Facts

Ticker Symbol FPPTX
Share Class No load, no 12b-1 fees
Initial Minimum Investment $1,500
Fund Assets $196.41 Million
Fund Inception Jul 11, 1984
Expense Ratio (as of most recent prospectus) 0.92%
Dividend Frequency Semi-Annually

Fund Facts as are of September 30, 2020 unless otherwise noted. 

Fund Inception reflects the date when the Fund was first available for purchase under FPA management.

The availability of shares of the Fund to new investors is limited. Please see the Prospectus for more detail.

Portfolio Manager

  • Daniel D. Kaplan, CFA

    Joined FPA in 2019

    Dan joined FPA in 2019.  He serves as an portfolio manager for FPA.  From 2005 to 2019, Dan was Senior Analyst and Trader at Akanthos Capital Management, a multi-strategy hedge fund manager.  From 1999 to 2003, he was an equity research associate and an investment banking analyst at Deutsche Bank Securities.  Dan earned a Bachelor’s Degree in Economics with Honors from California Institute of Technology and an MBA with Distinction from Kellogg School of Management.  Dan is a CFA® Charterholder.


    FPA Capital Fund