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FPA is an independent, value-focused investment manager offering strategies seeking to generate attractive long-term risk-adjusted returns for institutional investors, while also preserving capital across a range of market environments.
The FPA Advantage
Independence
As an independently owned firm, we have the freedom to design investment mandates that are tailored to our investors’ needs.
Alignment
We invest alongside our investors and prioritize performance over scale, even if it means deliberately limiting our assets under management.
Approach
We think in terms of decades and full market cycles. This long-term perspective supports patient investing and enables us to allocate capital with greater conviction.
FPA Strategies
We offer institutional investors a strategy set designed to achieve long-term risk-adjusted returns.
Value-Added Viewpoints
| FPA Insights
This article explores how FPA’s Contrarian Value team seeks investment opportunities by looking beyond conventional benchmarks and market narratives. It highlights the research‑driven process used to search across markets and capital structures to identify long‑term value.
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| News
FPA, an independent investment management firm with over a 70-year history of investing, is honored to have been nominated for the 2026 US Morningstar Awards for Investing Excellence, Exemplary Stewardship Award.
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| Fund Announcements
The FPA Queens Road Small Cap Value Fund announced today that Ben Mellman has been named Co-Portfolio Manager alongside founding Portfolio Manager Steve Scruggs.
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