# Portfolio overlap — FPACX vs AXSPX

Comparing **FPA Crescent Fund** (2026-03-31) and **AXS Adaptive Plus Fund** (2026-03-31).

- Shared positions: 2
- FPA Crescent Fund covered by AXS Adaptive Plus Fund: 0.2188395793403845751279672367
- AXS Adaptive Plus Fund covered by FPA Crescent Fund: 0.2188395793403845751279672367

## FPA Crescent Fund — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| Zywave_Pfd Equity | 0.209241 | ✓ |
| ANALOG DEVICES INC | 0.032873 |  |
| ALPHABET INC CL A | 0.029948 |  |
| META PLATFORMS INC CL A | 0.022149 |  |
| INTL FLVR & FRAG | 0.020155 |  |
| TE CONNECTIVITY | 0.019779 |  |
| CITIGROUP INC | 0.019457 |  |
| ALPHABET INC CL C | 0.018804 |  |
| BECTON DICKINSON and CO | 0.016295 |  |
| AMAZON.COM INC | 0.015760 |  |
| U.S. Treasury Bills | 0.015712 |  |
| LIBERTY BROADBAND CORP C | 0.014430 |  |
| AON PLC-CLASS A | 0.014151 |  |
| FPS LLC    / | 0.013739 |  |
| U.S. Treasury Bills | 0.013585 |  |
| Nestle Capital DCP DCP, 06/11/26   / | 0.011773 |  |
| JOHNSON & JOHNSON Co. DCP, 06/10/2026   / | 0.010989 |  |
| PEPSICO, Inc. DCP, 05/12/2026   / | 0.010933 |  |
| U.S. Treasury Bills | 0.010895 |  |
| U.S. Treasury Bills | 0.010874 |  |
| FERGUSON PLC | 0.010688 |  |
| SATS 3.875 11/30/30 | 0.010419 |  |
| COMCAST CORP CL A | 0.010076 |  |
| NESTLE CAPITAL DCP,   05/08/2026   / | 0.010063 |  |
| JOHNSON & JOHNSON Co. DCP, 07/08/2026   / | 0.009999 |  |
| U.S. Treasury Bills | 0.009889 |  |
| Pepsico, Inc. DCP DCP, 07/06/26   / | 0.009830 |  |
| U.S. Treasury Bills | 0.009693 |  |
| Pepsico, Inc. DCP DCP, 07/01/26   / | 0.009659 |  |
| U.S. Treasury Bills | 0.009599 | ✓ |
| Amrize Ltd. USD0.01 | 0.009480 |  |
| United States Treasury Bill | 0.009071 |  |
| JOHNSON & JOHNSON Co. DCP, 07/13/2026   / | 0.009040 |  |
| U.S. Treasury Bills | 0.008776 |  |
| Nestle Capital DCP DCP, 04/13/26   / | 0.008772 |  |
| U.S. Treasury Bills | 0.008714 |  |
| U.S. Treasury Bills | 0.008702 |  |
| Pepsico, Inc. DCP DCP, 07/09/26   / | 0.008694 |  |
| NXP SEMICONDUCTO | 0.008342 |  |
| JEFFERIES FINANCIAL GROUP INC | 0.008254 |  |
| VAIL RESORTS INC | 0.008105 |  |
| FORTUNE BRANDS INNOVATIONS INC | 0.008054 |  |
| U.S. Treasury Bills | 0.007878 |  |
| PEPSICO, Inc. DCP, 05/04/2026   / | 0.007703 |  |
| NESTLE CAPITAL DCP,  04/23/26   / | 0.007667 |  |
| U.S. Treasury Bills | 0.007640 |  |
| LPL FINL HLDGS INC | 0.007499 |  |
| U.S. Treasury Bills | 0.007430 |  |
| Pepsico, Inc. DCP DCP, 06/15/26   / | 0.007149 |  |
| U.S. Treasury Bills | 0.006754 |  |

## AXS Adaptive Plus Fund — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| U.S. Treasury Bills | 0.313597 |  |
| U.S. Treasury Bills | 0.252463 | ✓ |
| Zywave_Pfd Equity | 0.229464 | ✓ |
| JPMorgan U.S. Government Money Market Fund - Class Premier | 0.204476 |  |


## Sources

- N-PORT (fund A) — accession `0001193125-26-241353` (as of 2026-03-31)
  <https://www.sec.gov/Archives/edgar/data/924727/000119312526241353/0001193125-26-241353-index.htm>
- N-PORT (fund B) — accession `0001193125-26-238145` (as of 2026-03-31)
  <https://www.sec.gov/Archives/edgar/data/1587982/000119312526238145/0001193125-26-238145-index.htm>

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_Data sourced from U.S. SEC EDGAR filings (Forms N-PORT, N-CEN, and prospectus Risk/Return summaries). FundWatcher is not affiliated with the SEC._

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