{
  "crd_number": 141823,
  "slug": "first-pacific-advisors-lp-el-segundo-ca-141823",
  "primary_business_name": "FIRST PACIFIC ADVISORS, LP",
  "legal_name": "FIRST PACIFIC ADVISORS, LP",
  "dbas": [],
  "city": "El Segundo",
  "state": "CA",
  "country": "United States",
  "cbsa_code": "31080",
  "metro": {
    "cbsa_code": "31080",
    "common_name": "Los Angeles",
    "msa_name": "Los Angeles-Long Beach-Anaheim, CA",
    "path": "/advisors/ca/los-angeles"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2006-09-29",
  "years_registered": 20,
  "period": "2026-10-01",
  "filing_date": "2026-07-20",
  "carried_forward": false,
  "raum_total": 32002657371.0,
  "raum_discretionary": 32002657371.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 73,
  "advisory_employees": 21,
  "client_count_bucket": null,
  "clients_by_type": {
    "charitable": {
      "raum": 352502768.0,
      "count": 3
    },
    "investment_companies": {
      "raum": 26395603512.0,
      "count": 8
    },
    "pension_profit_sharing": {
      "raum": 501050845.0,
      "count": 8
    },
    "high_net_worth_individuals": {
      "raum": 1057.0,
      "count": 1
    },
    "pooled_investment_vehicles": {
      "raum": 4753244024.0,
      "count": 21
    },
    "corporations_other_businesses": {
      "raum": 255165.0,
      "count": 1
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_investment_companies",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 1,
  "states_registered": [
    "CA",
    "IL",
    "MD",
    "OR"
  ],
  "websites": [
    "https://fpa.com",
    "https://fpafunds.com",
    "https://fpag.fpa.com",
    "https://fpas.fpa.com",
    "https://linkedin.com/company/first-pacific-advisors"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/141823",
  "disclosure_items": [
    {
      "item": "11.D(2)",
      "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?"
    }
  ],
  "city_as_filed": "EL SEGUNDO",
  "url": "https://advisorcensus.com/firm/first-pacific-advisors-lp-el-segundo-ca-141823",
  "display_name": "First Pacific Advisors, LP",
  "summary": "First Pacific Advisors, LP is an SEC-registered investment advisory firm in El Segundo, CA, registered since 2006, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated July 20, 2026.",
  "citation": "AdvisorCensus. First Pacific Advisors, LP (CRD 141823): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for investment companies (and business development companies)",
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients"
  ],
  "quick_answers": [
    {
      "q": "How is First Pacific Advisors, LP compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), First Pacific Advisors, LP reports these compensation arrangements: a percentage of assets under its management; performance-based fees."
    },
    {
      "q": "Where is First Pacific Advisors, LP located?",
      "a": "First Pacific Advisors, LP's principal office is in El Segundo, CA, according to its Form ADV; the August 2026 filing also lists 3 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is First Pacific Advisors, LP registered with the SEC or a state?",
      "a": "First Pacific Advisors, LP is an SEC-registered investment advisory firm, registered since 2006. Status as filed: Approved. CRD 141823."
    },
    {
      "q": "How much does First Pacific Advisors, LP manage?",
      "a": "First Pacific Advisors, LP reports $32,002,657,371 in regulatory assets under management in its Form ADV filing dated July 20, 2026 (100% discretionary)."
    },
    {
      "q": "How have First Pacific Advisors, LP's assets and staff changed since 2021?",
      "a": "In the Form ADV data for First Pacific Advisors, LP: Regulatory assets under management: $27,268,935,484 in the October 2021 data and $32,002,657,371 in the October 2026 data, up 17%. Total employees: 77 in October 2021 and 73 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does First Pacific Advisors, LP serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (21); investment companies (8); pension and profit sharing plans (but not the plan participants or government pension plans) (8)."
    },
    {
      "q": "Which custodians does First Pacific Advisors, LP use?",
      "a": "First Pacific Advisors, LP's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists BNY Mellon Capital Markets, LLC, Northern Trust Securities, Inc., U.S. Bank Institutional Trust & Custody and UBS Securities LLC as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does First Pacific Advisors, LP report any disciplinary disclosures?",
      "a": "Reports 1 disclosure item on Form ADV Item 11: yes answers to 11.D(2) (another regulator's finding of a violation). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/141823"
    },
    {
      "q": "What changed in First Pacific Advisors, LP's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Employees performing advisory functions went from 20 to 21. Regulatory assets under management went from $26,702,343,033 to $32,002,657,371 (+20%)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 27268935484.0,
      "total_employees": 77,
      "filing_date": "2021-07-14"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 30276402265.0,
      "total_employees": 74,
      "filing_date": "2022-09-23"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 24343164132.0,
      "total_employees": 77,
      "filing_date": "2023-08-21"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 24802894805.0,
      "total_employees": 74,
      "filing_date": "2024-09-09"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 26702343033.0,
      "total_employees": 72,
      "filing_date": "2025-07-31"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 32002657371.0,
      "total_employees": 73,
      "filing_date": "2026-07-20"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 20 to 21.",
        "Regulatory assets under management went from $26,702,343,033 to $32,002,657,371 (+20%)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "BNY Mellon Capital Markets, LLC",
      "name_as_filed": "BNY MELLON CAPITAL MARKETS, LLC",
      "affiliated": false
    },
    {
      "name": "Northern Trust Securities, Inc.",
      "name_as_filed": "NORTHERN TRUST SECURITIES, INC.",
      "affiliated": false
    },
    {
      "name": "U.S. Bank Institutional Trust & Custody",
      "name_as_filed": "U.S. BANK INSTITUTIONAL TRUST & CUSTODY",
      "affiliated": false
    },
    {
      "name": "UBS Securities LLC",
      "name_as_filed": "UBS SECURITIES LLC",
      "affiliated": false
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/first-pacific-advisors-lp-el-segundo-ca-141823.md",
  "clients": [
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 1,
      "fewer_than_5": false,
      "raum": 1057.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 8,
      "fewer_than_5": false,
      "raum": 26395603512.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 21,
      "fewer_than_5": false,
      "raum": 4753244024.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 8,
      "fewer_than_5": false,
      "raum": 501050845.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 3,
      "fewer_than_5": false,
      "raum": 352502768.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 1,
      "fewer_than_5": false,
      "raum": 255165.0
    }
  ],
  "disclosure_line": "Reports 1 disclosure item on Form ADV Item 11.",
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/141823",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}