Investment management company First Pacific Advisors recently released its “The FPA Crescent Fund” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. In the third quarter, the fund gained 5.54% and 15.32% in the trailing twelve months. The fund’s top five performers contributed 6. 65% to its trailing twelve-month return while its bottom five detracted 2.58%. In addition, you can check the top 5 holdings of the fund to know its best picks in 2025. In its third-quarter 2025 inv ...