# EDGAR Filing Document

**Accession Number:** 0000732041
**File Stem:** 0001752724-23-046806
**Filing Date:** 2023-2
**Character Count:** 23827
**Document Hash:** 6da91c1ee306540d1db38cd61b6cf80b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-046806.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-046806

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FPA U.S. Core Equity Fund, Inc.
- **CENTRAL INDEX KEY:** 0000732041
- **IRS NUMBER:** 953901760
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03896
- **FILM NUMBER:** 23683316

**BUSINESS ADDRESS:**
- **STREET 1:** 11601 WILSHIRE BOULEVARD
- **STREET 2:** SUITE 1200
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90025
- **BUSINESS PHONE:** 310-473-0225

**MAIL ADDRESS:**
- **STREET 1:** 11601 WILSHIRE BOULEVARD
- **STREET 2:** SUITE 1200
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90025

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FPA U.S. VALUE FUND INC
- **DATE OF NAME CHANGE:** 20150901

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FPA PERENNIAL FUND INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### FPA U.S. Core Equity Fund, Inc. (Series ID: S000010874)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000030130 | FPA U.S. Core Equity Fund, Inc. | fppfx           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** FPA U.S. Core Equity Fund, Inc.

- **b. Investment Company Act file number:** 811-03896

- **c. CIK number of Registrant:** 0000732041

- **d. LEI of Registrant:** 549300LLZR9LMSRXX832

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 11601 WILSHIRE BOULEVARD

  - **City:** LOS ANGELES

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 90025

  - **Telephone number:** 310-473-0225

**Item A.2. Information about the Series.**

- **a. Name of Series:** FPA U.S. Core Equity Fund, Inc.

- **b. EDGAR series identifier (if any):** S000010874

- **c. LEI of Series:** 549300LLZR9LMSRXX832

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $50249869.33

**Total Liabilities:** $134945.50

**Net Assets:** $50114923.83

**Cash Not Reported:** $993.90

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000030130 | 5.17%                | 5.01%                | -5.68%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $164030.11               | $2374058.62                                |
| Month 2  | $-169647.41              | $2718199.99                                |
| Month 3  | $127396.20               | $-3247376.07                               |

### Schedule of Portfolio Investments

| Name                                | Title                               | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| LVMH Moet Hennessy Louis Vuitton SE | LVMH Moet Hennessy Louis Vuitton SE | CUSIP: 000000000<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | FR        |       896 | NS      | $652107.55    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Inc                       | BlackRock, Inc.                     | CUSIP: 09247X101<br>LEI: 549300LRIF3NWCU26A80 | Long             | EC               | CORP              | US        |      1400 | NS      | $992082.00    | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service Inc           | United Parcel Service, Inc.         | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |      2300 | NS      | $399832.00    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Co                   | General Motors Co.                  | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |      6700 | NS      | $225388.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Fixed Income Clearing Corp          | FIXED INC CLEARING CORP.REPO        | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |    278000 | PA      | $278000.00    | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Endeavor Group Holdings Inc         | Endeavor Group Holdings, Inc.       | CUSIP: 29260Y109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18275 | NS      | $411918.50    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc              | UnitedHealth Group, Inc.            | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      1510 | NS      | $800571.80    | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury              | U.S. Treasury Notes                 | CUSIP: 9128285P1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6012000 | PA      | $5913995.98   | 11.80%            | 2023-11-30      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Airbus SE                           | Airbus SE                           | CUSIP: 009279100<br>LEI: MINO79WLOO247M1IL051 | Long             | EC               | CORP              | NL        |     13850 | NS      | $410791.00    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc        | Thermo Fisher Scientific, Inc.      | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |       650 | NS      | $357948.50    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprouts Farmers Market Inc          | Sprouts Farmers Market, Inc.        | CUSIP: 85208M102<br>LEI: 529900P8F4G77Q52XE24 | Long             | EC               | CORP              | US        |     12850 | NS      | $415954.50    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN PRIME BROKER USD        | Collateral Position                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |     50925 | NS      | $50925.11     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                        | Comcast Corp.                       | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |      8300 | NS      | $290251.00    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Moody's Corp                        | Moody's Corp.                       | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |       115 | NS      | $32041.30     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| PayPal Holdings Inc                 | PayPal Holdings, Inc.               | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |      1925 | NS      | $137098.50    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                            | Visa, Inc.                          | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      4640 | NS      | $964006.40    | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc                 | Elevance Health, Inc.               | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |      1915 | NS      | $982337.55    | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Toll Brothers Inc                   | Toll Brothers, Inc.                 | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |     11500 | NS      | $574080.00    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowe's Cos Inc                      | Lowe's Cos., Inc.                   | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |      4300 | NS      | $856732.00    | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Norfolk Southern Corp               | Norfolk Southern Corp.              | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |      1300 | NS      | $320346.00    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                      | Microsoft Corp.                     | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     22100 | NS      | $5300022.00   | 10.58%            |  |  |  | No            |                  1 | On Loan: No      |
| Kering SA                           | Kering SA                           | CUSIP: 000000000<br>LEI: 549300VGEJKB7SVUZR78 | Long             | EC               | CORP              | FR        |      1680 | NS      | $855117.87    | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| IQVIA Holdings Inc                  | IQVIA Holdings, Inc.                | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |      3385 | NS      | $693552.65    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Brands Inc            | Constellation Brands, Inc.          | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Long             | EC               | CORP              | US        |       451 | NS      | $104519.25    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Willis Towers Watson PLC            | Willis Towers Watson PLC            | CUSIP: 000000000<br>LEI: 549300WHC56FF48KL350 | Long             | EC               | CORP              | IE        |      2400 | NS      | $586992.00    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Six Flags Entertainment Corp        | Six Flags Entertainment Corp.       | CUSIP: 83001A102<br>LEI: 549300JYTDUAA4JQ3717 | Long             | EC               | CORP              | US        |         1 | NS      | $23.25        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Bayerische Motoren Werke AG         | Bayerische Motoren Werke AG         | CUSIP: 072743305<br>LEI: YEH5ZCD6E441RHVHD759 | Long             | EC               | CORP              | DE        |      7200 | NS      | $213552.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                        | Alphabet, Inc.                      | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     50900 | NS      | $4516357.00   | 9.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Corp                          | Cigna Corp.                         | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      1750 | NS      | $579845.00    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co/The                  | Walt Disney Co.                     | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      2750 | NS      | $238920.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| ThredUp Inc                         | ThredUp, Inc.                       | CUSIP: 88556E102<br>LEI: 549300JKGKTKX3L3XK25 | Long             | EC               | CORP              | US        |         1 | NS      | $1.31         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Activision Blizzard Inc             | Activision Blizzard, Inc.           | CUSIP: 00507V109<br>LEI: 549300TPQQDBP9GNOF40 | Long             | EC               | CORP              | US        |      6693 | NS      | $512349.15    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corp                         | Lennar Corp.                        | CUSIP: 526057302<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |      9600 | NS      | $717888.00    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                         | Netflix, Inc.                       | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |       750 | NS      | $221160.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                      | Mastercard, Inc.                    | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      2760 | NS      | $959734.80    | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                        | Broadcom, Inc.                      | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |       645 | NS      | $360638.85    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp                | Bank of America Corp.               | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     21000 | NS      | $695520.00    | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Bayerische Motoren Werke AG         | Bayerische Motoren Werke AG         | CUSIP: 000000000<br>LEI: YEH5ZCD6E441RHVHD759 | Long             | EC               | CORP              | DE        |      3375 | NS      | $301232.52    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The                  | Home Depot, Inc.                    | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      3200 | NS      | $1010752.00   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Transfer LP                  | Energy Transfer LP                  | CUSIP: 29273V100<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EC               | CORP              | US        |    125000 | NS      | $1483750.00   | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                 | Abbott Laboratories                 | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |      2800 | NS      | $307412.00    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Global Management Inc        | Apollo Global Management, Inc.      | CUSIP: 03769M106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6000 | NS      | $382740.00    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                  | Meta Platforms, Inc.                | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      9000 | NS      | $1083060.00   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & Co Inc                        | KKR & Co., Inc.                     | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               | CORP              | US        |     11600 | NS      | $538472.00    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Aon PLC                             | Aon PLC                             | CUSIP: 000000000<br>LEI: 635400FALWQYX5E6QC64 | Long             | EC               | CORP              | IE        |      2045 | NS      | $613786.30    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Inc                      | Blackstone, Inc.                    | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |      5146 | NS      | $381781.74    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Ulta Beauty Inc                     | Ulta Beauty, Inc.                   | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |       830 | NS      | $389328.10    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                        | QUALCOMM, Inc.                      | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      1710 | NS      | $187997.40    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| AutoZone Inc                        | AutoZone, Inc.                      | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |       280 | NS      | $690530.40    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc                  | HCA Healthcare, Inc.                | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |      1400 | NS      | $335944.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Peloton Interactive Inc             | Peloton Interactive, Inc.           | CUSIP: 70614W100<br>LEI: 5493002YS021166W0339 | Long             | EC               | CORP              | US        |         1 | NS      | $7.94         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| U-Haul Holding Co                   | U-Haul Holding Co.                  | CUSIP: 023586506<br>LEI: 5493003WIDMLDHYC6Y24 | Long             | EC               | CORP              | US        |      4500 | NS      | $247410.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc                          | Humana, Inc.                        | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |       475 | NS      | $243290.25    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                           | Apple, Inc.                         | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     31850 | NS      | $4138270.50   | 8.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                        | Danaher Corp.                       | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      2100 | NS      | $557382.00    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| U-Haul Holding Co                   | U-Haul Holding Co.                  | CUSIP: 023586100<br>LEI: 5493003WIDMLDHYC6Y24 | Long             | EC               | CORP              | US        |       500 | NS      | $30095.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Enterprise Products Partners LP     | Enterprise Products Partners LP     | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             | EC               | CORP              | US        |     42000 | NS      | $1013040.00   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications Inc          | Charter Communications, Inc.        | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |      1165 | NS      | $395051.50    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Deckers Outdoor Corp                | Deckers Outdoor Corp.               | CUSIP: 243537107<br>LEI: 5493008LG4W3I6K8J118 | Long             | EC               | CORP              | US        |       815 | NS      | $325315.40    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                      | S&P Global, Inc.                    | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |       744 | NS      | $249195.36    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co                 | JPMorgan Chase & Co.                | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      7000 | NS      | $938700.00    | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                      | Amazon.com, Inc.                    | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     32400 | NS      | $2721600.00   | 5.43%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-23

**Name of Applicant:** FPA U.S. Core Equity Fund, Inc.

**Signature:** Lake Setzler

**Name of Signer:** Lake Setzler

**Title:** Treasurer