Skip To The Main Content
  • Careers
  • Subscribe
  • Access My Account
    • Mutual Funds
    • Private Funds
  • LinkedIn
MENU
  • Funds

    All Funds

    • Funds Overview
    • Funds Literature

    Open-end Funds

    • FPA Crescent Fund
    • FPA Flexible Fixed Income Fund
    • FPA New Income Fund
    • FPA Queens Road Small Cap Value Fund
    • FPA Queens Road Value Fund

    Exchange Traded Funds

    • FPA Short Duration Government ETF
    • FPA Global Equity ETF

    Closed-end Funds

    • Source Capital
  • News & Special Commentaries
  • About Us
  • Contact Us
FPA-People

Special Commentaries

  • FPA in the News
  • Fund Announcements
  • Special Commentaries
  • How to Invest with FPA
  • November 6, 2023

    FPA Crescent Fund 30-Year Anniversary Reflection

    Over the past 30 years, the FPA Crescent Fund has met its objective of generating equity-like returns while taking less risk than the market and avoiding permanent capital impairment. 
    For further details, please click here.
  • March 26, 2020

    FPA New Income & FPA Flexible Fixed Income Fund - March 20, 2020 Special Fund Update

    For further details, please click here.
  • March 18, 2020

    FPA Crescent Fund - March 2020 Special Fund Update

    For further details, please click here.
  • January 2, 2019

    Risk is Where You're Not Looking

    By Steven Romick, Abhijeet Patwardhan, Thomas Atteberry
    For further details, please click here.
  • March 13, 2018

    Rare Bond Market Conditions Set Up Complacent Investors for Subpar Returns

    By Thomas Atteberry, Abhijeet Patwardhan, Ryan Leggio

    For further details, please click here.
  • May 31, 2017

    Two Decades of Winning by Not Losing by FPA Crescent's (FPACX) Steven Romick

    By Steven Romick

    For further details, please click here.
  • May 8, 2017

    Letter to Board of Directors at Arconic dated May 4, 2017

    By Brian Selmo

    For further details, please click here.
  • February 7, 2017

    Letter to Board of Directors at Arconic dated February 6, 2017

    By Brian Selmo

    For further details, please click here.
  • November 14, 2016

    Today's Case for FPA New Income, Inc.

    by Thomas H. Atteberry and Abhijeet Patwardhan

    For further details, please click here.
  • June 29, 2016

    Will Brexit Spark a Much-Needed Market Revaluation?

    by Steven Romick

    For further details, please click here.
  • September 30, 2015

    FPA U.S. Value Fund, Inc. (FPPFX) Special Presentation - Third Quarter 2015

  • June 25, 2015

    Don't Be Surprised - Speech to CFA Society of Chicago

    by Steven Romick

    For further details, please click here.
  • April 30, 2015

    The Importance of Full Market Cycle Returns

    by Ryan Leggio and Steven Romick

    For further details, please click here.
  • November 14, 2014

    Speech to CFA Society of Reno

    by Robert Rodriguez

    For further details, please click here.
  • August 13, 2014

    Speech at A Day with FPA 2014

    by Robert Rodriguez

    For further details, please click here.
  • October 17, 2013

    Presentation to CFA Institute: Fixed Income Portfolios in the New Frontier

    By Thomas H. Atterberry

    • Presentation
    • Audio
    • Transcript
    For further details, please click here.
  • April 11, 2013

    Letter to Institutional Shareholder Services re: Occidental Petroleum

    At the same time that we sent a letter to the Board of Directors of Occidental Petroleum, we also sent the letter below to Institutional Shareholder Services (“ISS”). We chose not to make this ISS letter public until ISS released their recommendations.

    By Steven Romick

    For further details, please click here.
  • April 5, 2013

    Letter to Board of Directors at Occidental Petroleum

    By Steven Romick

    For further details, please click here.
  • October 31, 2012

    Blind Faith

    By Steven Romick

    For further details, please click here.
  • September 14, 2012

    ALL IN!

    By Robert L. Rodriguez

    For further details, please click here.
  • February 15, 2012

    CAUTION: DANGER AHEAD

    By Robert L. Rodriguez

    For further details, please click here.
  • November 30, 2011

    European Crisis - Internal Memo

    By Robert Rodriguez

    For further details, please click here.
  • September 9, 2011

    More of the Same

    By Robert L. Rodriguez

    For further details, please click here.
  • July 19, 2011

    Precautionary Measures

    By Thomas H. Atteberry

    For further details, please click here.
  • May 3, 2011

    Wait and Hope: Speech to Value Investing Congress

    By Steven Romick

    For further details, please click here.
  • November 29, 2010

    Comments on Insider Trading and the Use of Expert Networks

    By J. Richard Atwood

    For further details, please click here.
  • May 29, 2009

    Morningstar Keynote Speech - Reflections and Outrage

    By Robert L. Rodriguez

    For further details, please click here.
  • September 23, 2008

    The Elephant(s) in the Room

    By Steven Romick

    For further details, please click here.
  • July 30, 2008

    Disgusted and Betrayed

    By Robert L. Rodriguez

    For further details, please click here.
  • June 17, 2008

    Buyers Strike Revisited

    By Robert L. Rodriguez & Thomas H. Atteberry

    For further details, please click here.
  • May 7, 2008

    The Raw Deal: Speech to Value Investing Congress

    By Steven Romick

    For further details, please click here.
  • March 30, 2008

    Crossing the Rubicon

    By Robert L. Rodriguez

    For further details, please click here.
  • January 22, 2008

    Credit Crisis

    By Robert L. Rodriguez

    For further details, please click here.
  • October 15, 2007

    Reaction to New Morningstar Stewardship Grades

    By J. Richard Atwood

    For further details, please click here.
  • June 28, 2007

    Absence of Fear: Speech to CFA Society of Chicago

    By Robert L. Rodriguez

    For further details, please click here.
  • October 31, 2006

    More Comments on Mutual Fund Industry Transgressions

    By Robert L. Rodriguez & J. Richard Atwood

    For further details, please click here.
  • February 6, 2006

    Benchmark Flaws

    By Dennis M. Bryan

    For further details, please click here.
  • April 23, 2004

    The Case for Cash

    By Steven Romick

    For further details, please click here.
  • January 18, 2004

    Slim Pickings

    By Robert L. Rodriguez

    For further details, please click here.
  • December 2, 2003

    Ethics and Discipline: Speech to UCLA Anderson School of Business

    By Robert L. Rodriguez

    For further details, please click here.
  • October 31, 2003

    Comments on Transgressions in the Mutual Fund Industry

    By Robert L. Rodriguez & J. Richard Atwood

    For further details, please click here.
  • June 16, 2003

    Buyer's Strike

    By Robert L. Rodriguez and Thomas H. Atteberry

    For further details, please click here.
  • August 19, 2002

    Accounting Issues Hiding in Plain View

    By Steven Romick

    For further details, please click here.
  • August 9, 2002

    Comments on Conseco Holdings

    By Robert L. Rodriguez

    For further details, please click here.
Check FPA's background on FINRA's BrokerCheck

Investors Quick Reference

  • Dividend & Tax Information
  • FPA Crescent Fund
    • Fund Overview
    • Fact Sheet
    • Most Recent Commentary
  • FPA Flexible Fixed Income Fund
    • Fund Overview
    • Fact Sheet
    • Most Recent Commentary
  • FPA Global Equity ETF
    • Fund Overview
  • FPA Short Duration Government ETF
    • Fund Overview
  • FPA New Income Fund
    • Fund Overview
    • Fact Sheet
    • Most Recent Commentary
  • FPA Queens Road Small Cap Value Fund
    • Fund Overview
    • Fact Sheet
    • Most Recent Commentary
  • FPA Queens Road Value Fund
    • Fund Overview
    • Fact Sheet
    • Most Recent Commentary
  • Source Capital
    • Fund Overview
    • Fact Sheet
    • Most Recent Commentary
  • FPA Fund Strategies Overview 
Request Funds Literature

Need assistance?

1-800-982-4372 | Email Us

  • Contact Us
  • FAQs
  • FPA Investors
    • Request Funds Literature
    • Access My Mutual Funds Account
    • Access My Private Funds Account
    • Subscribe to Quarterly Fund Updates
  • New Investors
The FPA Funds are distributed by Distribution Services, LLC. Three Canal Plaza, Suite 100, Portland, ME 04101. Distribution Services, LLC and FPA are not affiliated.

You should consider the Fund's investment objectives, risks, and charges and expenses carefully before you invest. The Prospectus details the Fund's objective and policies, charges, and other matters of interest to the prospective investor. Please read the Prospectus carefully before investing.

Check the background of this firm on FINRA’s Broker Check.

Investments in mutual funds carry risks and investors may lose principal value. Click here for the principal risks of investing in the Funds. Please read the prospectus carefully before investing as it explains the risks associated with investing in equity and fixed income mutual funds.

  • © 2025 First Pacific Advisors, LP
  • Terms of Use
  • Privacy Policy
  • CRS Relationship Summary