FPA Capital Fund, Inc. Q2 2019 Commentary

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About: FPA Capital Fund Inv (FPPTX), Includes: ALGT, MKSI, XEC
by: Fund Letters
Summary

FPA is an institutional money management firm. The Fund's primary investment objective is long-term growth of capital. Benchmark-agnostic portfolio of 20-40 holdings, small- and mid-cap companies with competitive positions.

We continue to look for strong companies at cheap prices and cash is simply the residual of investment opportunities for us.

The second quarter of 2019 performance was negative for the Fund.

Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.